Manoj's Feed
Mar 20, 2013

Govt says still able to pass reforms; silent on early poll

NEW DELHI (Reuters) – The government said on Wednesday it was still able to pass reform legislation in parliament, a day after DMK abruptly quit the ruling UPA coalition, but ministers did not answer questions on whether it would call a snap election.

The withdrawal of the Dravida Munnetra Kazhagam (DMK) has rattled markets, who are worried that it has left Prime Minister Manmohan Singh unable to pass reforms needed to turn around the country’s worst economic slowdown in a decade.

Mar 20, 2013

India govt says still able to pass reforms but silent on early poll

NEW DELHI, March 20 (Reuters) – The Indian government said
on Wednesday it was still able to pass reform legislation in
parliament, a day after its biggest ally abruptly quit the
ruling coalition, but ministers did not answer questions on
whether it would call a snap election.

The withdrawal of the Dravida Munnetra Kazhagam (DMK) has
rattled markets, who are worried that it has left Prime Minister
Manmohan Singh unable to pass reforms needed to turn around the
country’s worst economic slowdown in a decade.

Mar 19, 2013

DMK withdraws from UPA coalition, reforms at risk

NEW DELHI (Reuters) – The Dravida Munnetra Kazhagam (DMK) pulled out of the ruling UPA coalition on Tuesday, jeopardising Prime Minister Manmohan Singh’s economic reforms but posing no immediate threat to the minority government, which can survive with the support of other parties.

The withdrawal of the DMK could hamper the government’s efforts to rein in the budget deficit, spur growth in Asia’s third-largest economy and stave off the threat of a downgrade by global credit ratings agencies.

Mar 19, 2013

India government ally withdraws from coalition, reforms at risk

NEW DELHI (Reuters) – A key regional ally pulled out of India’s ruling coalition on Tuesday, jeopardizing Prime Minister Manmohan Singh’s economic reforms but posing no immediate threat to the minority government, which can survive with the support of other parties.

The withdrawal of the Dravida Munnetra Kazhagam (DMK) could hamper the government’s efforts to rein in the budget deficit, spur growth in Asia’s third-largest economy and stave off the threat of a downgrade by global credit ratings agencies.

Mar 18, 2013

Chidambaram wants caps on foreign investment relaxed

NEW DELHI (Reuters) – Finance Minister P. Chidambaram said on Monday he wanted to remove or relax “outdated” caps on foreign direct investment (FDI) in different sectors, as his government struggles to revive an economy that has posted its weakest growth in a decade.

Removing investment barriers, many of which date back to before India started opening up its economy in the early 1990s, has been key to the government’s push to restoring investor confidence in Asia’s third-largest economy.

Mar 18, 2013

Indian finance minister wants caps on foreign investment relaxed

NEW DELHI (Reuters) – India’s finance minister said on Monday he wanted to remove or relax “outdated” caps on foreign direct investment (FDI) in different sectors, as his government struggles to revive an economy that has posted its weakest growth in a decade.

Removing investment barriers, many of which date back to before India started opening up its economy in the early 1990s, has been key to the government’s push to restoring investor confidence in Asia’s third-largest economy.

Mar 17, 2013

India wrestles with dilemma of blacklisting AgustaWestland

NEW DELHI, March 17 (Reuters) – Indian Defence Minister A.K.
Antony is leaning toward barring Anglo-Italian helicopter firm
AgustaWestland from doing business in the country because of a
corruption scandal, but he could be outvoted by cabinet
colleagues, several government sources said.

Some cabinet ministers and even officials within the defence
ministry fear such a move could set back India’s efforts to
modernise its military, the sources told Reuters. India plans to
spend $100 billion in the next decade on military hardware.

Feb 28, 2013

India budget calls for tough choices but lifts spending

NEW DELHI, Feb 28 (Reuters) – India must make tough spending
choices, Finance Minister P. Chidambaram said on Thursday, even
as he unveiled a bigger-than-expected outlay for the coming
fiscal year in one of the most highly anticipated Indian budgets
of recent years.

Total budget expenditure will hit 16.65 trillion rupees
($309 billion) in the fiscal year that begins on April 1,
Chidambaram said, despite expectations for cuts from current
year levels, which are on track to hit 14.3 trillion rupees, or
96 percent of the budget target.

Feb 28, 2013

India’s finance minister calls for tough spending choices

NEW DELHI (Reuters) – India must make tough spending choices, Finance Minister P. Chidambaram said on Thursday, as he unveiled one of the most highly anticipated Indian budgets of recent years.

“Faced with a huge fiscal deficit, I have no choice but to rationalize expenditure. We took a dose of bitter medicine. It seems to be working,” Chidambaram said in his budget speech, a balancing act to stave off a credit rating downgrade and meet demands for populist spending heading into an election year.

Feb 28, 2013

Budget 2013: Chidambaram calls for tough spending choices

NEW DELHI (Reuters) – India must make tough spending choices, Finance Minister P. Chidambaram said on Thursday, as he unveiled one of the most highly anticipated budgets of recent years.

“Faced with a huge fiscal deficit, I have no choice but to rationalise expenditure. We took a dose of bitter medicine. It seems to be working,” Chidambaram said in his budget speech, a balancing act to stave off a credit rating downgrade and meet demands for populist spending heading into an election year.