Manoj's Feed
Feb 18, 2014

FM says RBI must abide by government focus on growth

NEW DELHI (Reuters) – The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.

The comments by P. Chidambaram came after a central bank panel last month recommended making managing inflation its main policy objective, with a goal to explicitly target consumer price inflation of 4 percent, with a 2 percent band on either side.

Feb 18, 2014

India’s fin min says central bank must abide by govt focus on growth

NEW DELHI (Reuters) – India’s finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.

The comments by P. Chidambaram came after a central bank panel last month recommended making managing inflation its main policy objective, with a goal to explicitly target consumer price inflation of 4 percent, with a 2 percent band on either side.

Feb 18, 2014

India’s fin min says c.bank must abide by govt focus on growth

NEW DELHI, Feb 18 (Reuters) – India’s finance minister
chided the central bank on Tuesday over its focus on fighting
inflation, saying the Reserve Bank of India (RBI) also needed to
abide by the government policy to promote economic growth.

The comments by P. Chidambaram came after a central bank
panel last month recommended making managing inflation its main
policy objective, with a goal to explicitly target consumer
price inflation of 4 percent, with a 2 percent band on either
side.

Feb 17, 2014

India finance minister unveils indirect tax cuts in pre-election budget

NEW DELHI (Reuters) – The Indian government announced a package of indirect tax cuts on Monday to breathe life into spending and investment, and trumpeted its record of growth and reform over the past decade in an interim budget before an election it looks set to lose.

Amid uproar in parliament as lawmakers shouted him down, Finance Minister P. Chidambaram also said he would contain the fiscal deficit for 2013/14 (April-March) at 4.6 percent of gross domestic product (GDP), below his target of 4.8 percent.

Feb 17, 2014

Chidambaram unveils tax cuts in pre-election budget

NEW DELHI (Reuters) – The government announced a package of indirect tax cuts on Monday to breathe life into spending and investment, and trumpeted its record of growth and reform over the past decade in its last budget before an election it looks set to lose.

Amid uproar in parliament as lawmakers shouted him down, Finance Minister P. Chidambaram also announced that he would contain the fiscal deficit for 2013/13 (April-March) at 4.6 percent of gross domestic product (GDP), below his target of 4.8 percent.

Feb 17, 2014

India’s finance minister unveils tax cuts pre-election budget

NEW DELHI, Feb 17 (Reuters) – The Indian government
announced a package of indirect tax cuts on Monday to breathe
life into spending and investment, and trumpeted its record of
growth and reform over the past decade in its last budget before
an election it looks set to lose.

Amid uproar in parliament as lawmakers shouted him down,
Finance Minister P. Chidambaram also announced that he would
contain the fiscal deficit for 2013/13 (April-March) at 4.6
percent of gross domestic product (GDP), below his target of 4.8
percent.

Feb 17, 2014

India’s finance minister unveils tax cuts pre-election budget

NEW DELHI, Feb 17 (Reuters) – The Indian government
announced a package of indirect tax cuts on Monday to breathe
life into spending and investment, and trumpeted its record of
growth and reform over the past decade in its last budget before
an election it looks set to lose.

Amid uproar in parliament as lawmakers shouted him down,
Finance Minister P. Chidambaram also announced that he would
contain the fiscal deficit for 2013/13 (April-March) at 4.6
percent of gross domestic product (GDP), below his target of 4.8
percent.

Feb 14, 2014

Finance minister seen walking budget tightrope

NEW DELHI (Reuters) – Finance Minister P. Chidambaram will be walking a tightrope when he presents an interim budget for the coming fiscal year on Monday, doling out more funds to woo voters and tax cuts to support industry while projecting a lower fiscal deficit before elections.

Asia’s third-largest economy is facing its worst economic slowdown in nearly a decade, with shrinking manufacturing, slower jobs growth and high inflation limiting the government’s ability to offer sops to voters or companies to boost growth.

Feb 14, 2014

India’s finance minister seen walking budget tightrope as economy slows

NEW DELHI (Reuters) – India’s finance minister will be walking a tightrope when he presents an interim budget for the coming fiscal year on Monday, doling out more funds to woo voters and tax cuts to support industry while projecting a lower fiscal deficit before elections.

Asia’s third-largest economy is facing its worst economic slowdown in nearly a decade, with shrinking manufacturing, slower jobs growth and high inflation limiting the government’s ability to offer sops to voters or companies to boost growth.

Feb 12, 2014

Fares, freight rates on hold in rail budget ahead of polls

NEW DELHI (Reuters) – India left train fares and freight rates unchanged in its interim railway budget, as politicians try to please voters and manufacturing companies ahead of national elections due in the next three months.

India’s state-owned railways are the world’s fourth-largest, with 65,000 km (40,000 miles) of track, after the United States, China and Russia, but have suffered from years of low investment and a lack of policy reforms.