Manoj's Feed
Oct 7, 2014

Modi’s welfare reforms may need to be bigger and bolder

NEW DELHI (Reuters) – Kamla Rani, a 50-year-old housewife living in a run-down area of New Delhi, baulks at the idea of having heavily subsidised food benefits replaced by money deposited in a bank account.

“How can we believe the government will pay on time or increase the amount when prices go up every month?” she asked, sitting in the doorway of her modest home in Gulabi Bagh, a residential area in the north of the capital where many people live in slums.

Oct 7, 2014

U.S.-based economist Subramanian unlikely to be India adviser – source

NEW DELHI, Oct 7 (Reuters) – U.S.-based economist Arvind
Subramanian is unlikely to become India’s chief economic adviser
after the prime minister questioned a request to appoint him, a
source said on Tuesday, a further delay to filling a position
key to writing the budget.

A senior official at the Finance Ministry said Finance
Minister Arun Jaitley would send a list of new names to Prime
Minister Narendra Modi and a final decision would be taken by
the two men. The official declined to be identified.

Oct 7, 2014

India to unveil new monetary policy framework by end-Jan – govt source

NEW DELHI (Reuters) – India will unveil a new monetary policy framework by the end of January 2015, a finance ministry official said on Tuesday, making it easier for the Reserve Bank of India (RBI) to focus on tamping down persistently high inflation.

India has long struggled with prices rising at double digit levels annually, causing most distress for the poor.

Sep 29, 2014

Modi orders officials to clean loos on Gandhi’s birthday

NEW DELHI (Reuters) – Prime Minister Narendra Modi has ordered government officers to work on Mahatma Gandhi’s birthday, a national holiday, to clean ministries – including toilets – in a nationwide cleanliness drive.

Modi plans to honour the independence hero by launching on Thursday the Clean India campaign, which aims to solve the country’s sanitation and rubbish problems within five years to mark the 150th anniversary of Gandhi’s Oct 2 birthday.

Sep 29, 2014

Modi orders Indian officials to clean loos on Gandhi’s birthday

NEW DELHI (Reuters) – India’s new Prime Minister Narendra Modi has ordered government officers to work on Mahatma Gandhi’s birthday, a national holiday, to clean ministries – including toilets – in a nationwide cleanliness drive.

Modi plans to honor the independence hero by launching on Thursday the Clean India campaign, which aims to solve the country’s sanitation and rubbish problems within five years to mark the 150th anniversary of Gandhi’s Oct 2 birthday.

Sep 29, 2014

India’s Jaitley in isolation ward, may skip U.S. trip

NEW DELHI (Reuters) – India’s Finance Minister Arun Jaitley may have to cancel a trip to the United States in October after he was moved to an isolation ward of a government-run hospital to help him recover from an infection that followed a stomach operation to treat diabetes.

Jaitley is due to attend a World Bank meeting on Oct. 10-12 in Washington, where he is also expected to meet senior government officials. He was due to leave on Oct. 8.

Sep 29, 2014

Finance Minister Jaitley in isolation ward, may skip U.S. trip

NEW DELHI (Reuters) – Finance Minister Arun Jaitley may have to cancel a trip to the United States in October after he was moved to an isolation ward of a government-run hospital to help him recover from an infection that followed a stomach operation to treat diabetes.

Jaitley is due to attend a World Bank meeting on Oct. 10-12 in Washington, where he is also expected to meet senior government officials. He was due to leave on Oct. 8.

Sep 26, 2014

India cuts H2 government borrowing to $39 bln in 2014/15

NEW DELHI, Sept 26 (Reuters) – India will cut borrowing for
the second half of the fiscal year ending in March and expects
to remain on track to meet its target for the fiscal deficit,
Finance Secretary Arvind Mayaram said on Friday.

The government will borrow 2.4 trillion rupees ($39.25
billion) in October-March, less than the 2.48 trillion rupees
called for in the government budget announced in July, Mayaram
said.

Sep 22, 2014

Falling crude prices helps India control fiscal deficit

NEW DELHI, Sept 22 (Reuters) – India’s finance ministry is
increasingly optimistic that it can meet a tough fiscal deficit
target, helped by a 12 percent decline in global crude oil
prices since Prime Minister Narendra Modi took charge in May.

Lower crude prices mean less government outlay for India,
which imports 80 percent of its oil needs – at a cost of $168
billion last year – and subsidizes oil products such as diesel
and fertilizer.

Sep 18, 2014

China not warlike, says Xi, as border standoff dominates India trip

NEW DELHI (Reuters) – China is not a warlike nation, President Xi Jinping said on Thursday, during a rare trip to neighbor India that was dominated by a standoff on a barren Himalayan plateau between soldiers from the world’s two most populous nations.

Robust comments from India’s new prime minister Narendra Modi about the dispute in territory claimed by both Asian giants overshadowed Xi’s pledge of $30 billion investments in South Asia over five years, including $20 billion in India.