NEW DELHI (Reuters) – Already battered by corruption scandals, and less than a week after an embarrassing policy U-turn, the government admitted on Friday that it had accidentally inflated this year’s export figures by more than $9 billion.

The cause was a glitch in the computer system that collates the trade data, Trade Secretary Rahul Khullar told reporters. Months of export and trade deficit data have had to be revised.

NEW DELHI, Dec 9 (Reuters) – Already battered by
corruption scandals, and less than a week after an embarrassing
policy U-turn, the Indian government admitted on Friday that it
had accidentally inflated this year’s export figures by more
than $9 billion.

The cause was a glitch in the computer system that collates
the trade data, Trade Secretary Rahul Khullar told reporters.
Months of export and trade deficit data have had to be revised.

NEW DELHI (Reuters) – India slashed its full-year growth forecast on Friday amid slowing domestic and global demand, with officials warning the government was facing a serious balance of trade problem and will have a tough time meeting its fiscal deficit target.

Asia’s third-largest economy is now expected to grow by 7.25 to 7.5 percent in the fiscal year ending next March, the government said in a mid-year review, down sharply from an estimate of 9 percent issued in February.

NEW DELHI, Dec 9 (Reuters) – India slashed its
full-year growth forecast on Friday amid slowing domestic and
global demand, with officials warning the government was facing
a serious balance of trade problem and will have a tough time
meeting its fiscal deficit target.

Asia’s third-largest economy is now expected to grow by 7.25
to 7.5 percent in the fiscal year ending next March, the
government said in a mid-year review, down sharply from an
estimate of 9 percent issued in February.

NEW DELHI (Reuters) – Ratan Tata on Thursday joined a growing list of business tycoons to vent their frustration at the wrangling and perceived policy footdragging among the country’s politicians that they say could hold back the country’s economic rise.

Shouting matches and walkouts over a reform to allow foreign retailers into India’s supermarket sector have shut down parliament for the past week. Some commentators now fear Prime Minister Manmohan Singh could roll back or water down one of his biggest reforms in years due to political pressure.

NEW DELHI, Dec 1 (Reuters) – India’s Ratan Tata on
Thursday joined a growing list of business tycoons to vent their
frustration at the wrangling and perceived policy footdragging
among the country’s politicians that they say could hold back
the country’s economic rise.

Shouting matches and walkouts over a reform to allow foreign
retailers into India’s supermarket sector have shut down
parliament for the past week. Some commentators now fear Prime
Minister Manmohan Singh could roll back or water down one of his
biggest reforms in years due to political pressure.