Manoj's Feed
Nov 25, 2014

India central bank under rate cut pressure as growth slips back

NEW DELHI, Nov 25 (Reuters) – India’s economic growth
probably slowed to around 5 percent in the three months to
September, slipping from 5.7 percent in the previous quarter,
two senior finance ministry sources said, putting pressure on
the central bank to cut interest rates.

The sources said Finance Minister Arun Jaitley would argue
forcefully for Reserve Bank of India (RBI) Governor Raghuram
Rajan to lower interest rates when the two meet ahead of a
decision on rates next Tuesday.

Nov 18, 2014

India readies new steps to curb surge in gold imports – source

NEW DELHI, Nov 18 (Reuters) – India is likely to announce
new measures to curb gold imports as early as Tuesday, a senior
finance ministry source said, and they could include
restrictions on a group of private trading firms that have been
allowed to bring in the precious metal.

Shipments to the world’s second-largest gold buyer jumped
fourfold in October from a year earlier to $4.18 billion,
raising concern about India’s fragile balance of payments.

Nov 17, 2014

RBI talking to government about more gold import curbs

NEW DELHI/MUMBAI (Reuters) – The Reserve Bank of India (RBI) is in talks with the government to increase curbs on gold imports, Deputy Governor S S Mundra said on Monday, reflecting policymakers concerns that a jump in inbound shipments will worsen the country’s trade deficit.

Mundra’s comments come on the same day that trade data showed India’s gold imports in October surged nearly four-fold to $4.18 billion from a year ago. India is the world’s No. 2 gold consumer behind China.

Nov 17, 2014

India’s central bank talking to govt about more gold import curbs

NEW DELHI/MUMBAI Nov 17 (Reuters) – India’s central bank is
in talks with the government to increase curbs on gold imports,
Deputy Governor S.S. Mundra said on Monday, reflecting
policymakers concerns that a jump in inbound shipments will
worsen the country’s trade deficit.

Mundra’s comments come on the same day that trade data
showed India’s gold imports in October surged nearly four-fold
to $4.18 billion from a year ago. India is the world’s No. 2
gold consumer behind China.

Nov 13, 2014

India-U.S. deal revives WTO and hope of world trade reform

NEW DELHI/WASHINGTON/GENEVA (Reuters) – India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion (0.63 trillion pounds) package of reforms of global customs procedures.

The deal, which needs to be backed by all 160 WTO members, has resurrected hopes that the trade body can now push through those reforms, opening the way up for further negotiations.

Nov 13, 2014

India to review gold policy after surge in imports -sources

NEW DELHI/MUMBAI, Nov 13 (Reuters) – India is considering
curbs on gold imports by private trading firms after foreign
purchases surged in the past two months, two sources with direct
knowledge of the matter said.

October shipments into India, the world’s No.2 gold consumer
after China, jumped to about 150 tonnes, compared with under 25
tonnes a year earlier and 143 tonnes in September, a third
source, a top finance ministry official, said on Thursday.

Nov 13, 2014

India wins U.S. support for food scheme, ends WTO blockade

NEW DELHI/WASHINGTON, Nov 13 (Reuters) – India won U.S.
support for a massive domestic food stockpiling scheme on
Thursday, rescuing the biggest global trade deal in two decades
and giving new Prime Minister Narendra Modi a victory without
major concessions.

Under the pact with Washington, India will lift a veto on a
global agreement on streamlining customs rules that is likely to
add $1 trillion to the world economy as well as 21 million jobs,
18 million of them in developing countries.

Nov 6, 2014

Modi sell-off drive stalls, more Indian spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion (5.95 billion British pounds) privatisation target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labour unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 6, 2014

Exclusive – Modi sell-off drive stalls, more spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion privatisation target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labour unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 6, 2014

Exclusive: Modi sell-off drive stalls, more Indian spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion privatization target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labor unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.