Manoj's Feed
May 11, 2014

Modi seeks personal triumph in final round of Indian election

VARANASI, India (Reuters) – India’s general election reaches a climax on Monday as opposition challenger Narendra Modi seeks a personal mandate in Varanasi, the holy city on the river Ganges, to govern by his modernized brand of Hindu nationalism.

Modi is the first prime ministerial candidate to stand in the 3,000-year-old city where several religions mingle. Varanasi is an ancient centre of Buddhism but one in six voters is Muslim; Hindus believe that to die here brings salvation by escaping the cycle of reincarnation.

May 9, 2014

April trade gap narrows as gold imports plummet

NEW DELHI (Reuters) – India’s trade deficit narrowed in April due to a sharp fall in gold imports and an uptick in exports, easing pressure on the current account balance, government data showed on Friday.

The drop in gold imports could strengthen demand for easing of restrictions that the government imposed last year to rein in the current account deficit and ease pressure on the rupee.

May 9, 2014

India’s April trade gap narrows as gold imports plummet

NEW DELHI, May 9 (Reuters) – India’s trade deficit narrowed
in April due to a sharp fall in gold imports and an uptick in
exports, easing pressure on the current account balance,
government data showed on Friday.

The drop in gold imports could strengthen demand for easing
of restrictions that the government imposed last year to rein in
the current account deficit and ease pressure on the rupee.

Apr 11, 2014

Shock fall in industry output, exports deepen India’s economic gloom

NEW DELHI (Reuters) – India’s economic gloom deepened on Friday with a surprise contraction in industrial output, a fall in exports and a jump in the trade deficit, underscoring the enormity of challenges awaiting a new government that takes over in May.

Economic growth in Asia’s third largest economy has almost halved to below 5 percent in the past two years on weak investments and consumer demand, in the worst slowdown for the south Asian nation since the 1980s.

Apr 11, 2014

Trade deficit hits five-month high in March

NEW DELHI (Reuters) – India’s trade deficit hit a five-month high in March as merchandise exports fell for a second straight month, making it tougher for policymakers to lift curbs on gold imports that have helped to narrow the country’s current account gap.

Asia’s third-largest economy, which is struggling through its longest period of sub-5 percent economic growth since the 1980s, is seen vulnerable to any shift in capital flows.

Apr 11, 2014

India’s trade deficit hits 5-month high in March

NEW DELHI, April 11 (Reuters) – India’s trade deficit hit a
five-month high in March as merchandise exports fell for a
second straight month, making it tougher for policymakers to
lift curbs on gold imports that have helped to narrow the
country’s current account gap.

Asia’s third-largest economy, which is struggling through
its longest period of sub-5 percent economic growth since the
1980s, is seen vulnerable to any shift in capital flows.

Apr 10, 2014

As riot-hit Muzaffarnagar votes, religious divide favours Modi

MUZAFFARNAGAR (Reuters) – Manoj Balyan wants Narendra Modi to become India’s next prime minister when results of a general election are released next month, and not because of the pro-business opposition leader’s record as a credible economic manager.

Instead, the property broker and village chieftain is drawn to the Hindu nationalist side of Modi, 63, who he believes will strip privileges from the country’s minority Muslim population.

Apr 10, 2014

As riot-hit Indian region votes, religious divide favors Hindu leader

MUZAFFARNAGAR, India (Reuters) – Manoj Balyan wants Narendra Modi to become India’s next prime minister when results of a general election are released next month, and not because of the pro-business opposition leader’s record as a credible economic manager.

Instead, the property broker and village chieftain is drawn to the Hindu nationalist side of Modi, 63, who he believes will strip privileges from India’s minority Muslim population.

Apr 3, 2014

Post-election showdown looms for Raghuram Rajan

NEW DELHI (Reuters) – India’s high-profile RBI governor is likely to come under political pressure to retreat from his hawkish stance on inflation if opposition leader Narendra Modi wins power in the general election.

Strategists in Modi’s Bharatiya Janata Party (BJP), confident that his jobs-first policy pitch will secure a strong voter mandate, suggest that they would prefer to have one of their own at the helm of the Reserve Bank of India (RBI).

Apr 3, 2014

Post-election showdown looms for India’s central bank chief

NEW DELHI (Reuters) – India’s high-profile central bank governor is likely to come under political pressure to retreat from his hawkish stance on inflation if opposition leader Narendra Modi wins power in the country’s general election.

Strategists in Modi’s Bharatiya Janata Party (BJP), confident that his jobs-first policy pitch will secure a strong voter mandate, suggest that they would prefer to have one of their own at the helm of the Reserve Bank of India (RBI).