Manoj's Feed
May 20, 2014

Fiscal discipline key for economic growth – Rajan

NEW DELHI/MUMBAI (Reuters) – Reserve Bank of India Governor Raghuram Rajan on Tuesday reiterated his call for fiscal discipline, saying it is essential for India to achieve sustainable economic growth.

Although the comments were part of a broader speech on public sector banks, they come as India’s newly elected government led by Narendra Modi is set to face its first credibility test with markets when it delivers a budget by July.

May 20, 2014

Fiscal discipline key for economic growth – India cbank chief

NEW DELHI/MUMBAI, May 20 (Reuters) – Reserve Bank of India
Governor Raghuram Rajan on Tuesday reiterated his call for
fiscal discipline, saying it is essential for India to achieve
sustainable economic growth.

Although the comments were part of a broader speech on
public sector banks, they come as India’s newly elected
government led by Narendra Modi is set to face its first
credibility test with markets when it delivers a budget by July.

May 12, 2014

Narendra Modi seeks personal triumph in final round of 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 modernised 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 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.