Matthias's Feed
Mar 14, 2012

India bucks populist trend to raise railway fares

NEW DELHI, March 14 (Reuters) – India will raise
railway passenger fares for the first time in eight years,
snapping a populist trend to help mend the finances of a
creaking network that is a bottleneck for growth in Asia’s
third-largest economy.

Opposition lawmakers seized on Wednesday’s fare increase to
attack the Congress party-led coalition government, which is
already reeling from a slew of corruption scandals and was
battered in crucial state elections last week. Even the railway
minister’s own party demanded that the hike be rolled back.

Mar 14, 2012

Rail Budget 2012: Govt bucks populist trend to raise fares

NEW DELHI (Reuters) – India will raise railway passenger fares for the first time in eight years, snapping a populist trend to help mend the finances of a creaking network that is a bottleneck for growth in Asia’s third-largest economy.

(To know the changes in fares, click here)

The railway budget, released on Wednesday, precedes the union budget, to be presented in parliament by Finance Minister Pranab Mukherjee on Friday, which is expected to push fiscal deficit reduction amid slowing economic growth and high inflation.

Mar 14, 2012

Rail Budget 2012: Plan to borrow $10 bln in FY13

NEW DELHI (Reuters) – India’s railway ministry plans to borrow 500 billion rupees from the market through the Indian Railway Finance Corporation (IRFC) in the 2012/13 fiscal year, Railway Minister Dinesh Trivedi said on Wednesday.

Speaking as he unveiled the ministry’s budget to parliament, he also said India planned to invest $147 billion in the railways during the next five-year plan period that runs from 2012 to 2017.

Mar 14, 2012

Indian railways plans to borrow $10 bln in 2012/13

NEW DELHI, March 14 (Reuters) – India’s railway
ministry plans to borrow 500 billion rupees ($10.02 billion)
from the market through the Indian Railway Finance Corporation
(IRFC) in the 2012/13 fiscal year, Railway Minister Dinesh
Trivedi said on Wednesday.

Speaking as he unveiled the ministry’s budget to parliament,
he also said India planned to invest $147 billion in the
railways during the next five-year plan period that runs from
2012 to 2017.

Mar 13, 2012
via FaithWorld

Salman Rushdie to return to India after death threats

Photo

(Author Salman Rushdie at the John F. Kennedy Presidential Library and Museum in Boston, Massachusetts February 26, 2012. REUTERS/Jessica Rinaldi)

Salman Rushdie will return to India this week to speak at a conference, under two months after death threats forced the Booker Prize-winning author to pull out of Asia’s biggest literary festival, the event organizer said on Tuesday.

Mar 9, 2012

India revises up trade gap estimate as exports struggle

NEW DELHI (Reuters) – Indian imports continued to outpace exports in February as demand remained weak in major exports markets like the United States and Europe, nudging the government to revise up the full-year trade deficit projections on Friday.

A widening trade deficit will likely worsen India’s current account deficit and further weaken the rupee.

Mar 7, 2012

Amid Gandhi defeat, India greets new political star

NEW DELHI (Reuters) – It was supposed to be the crowning moment for Rahul Gandhi, the heir-apparent in India’s ruling Congress party, but he was thrashed in this week’s state election results and another young man thrust into the spotlight.

Akhilesh Yadav has won national acclaim by helping return his father to power as chief minister of Uttar Pradesh, India’s most populous and politically key state where Gandhi had hoped to stage a revival for Congress as it prepares to contest national elections in 2014.

Mar 7, 2012

Amid Gandhi defeat, India greets new political star Akhilesh Yadav

NEW DELHI (Reuters) – It was supposed to be the crowning moment for Rahul Gandhi, the heir-apparent in the ruling Congress, but he was thrashed in this week’s state election results and another young man thrust into the spotlight.

Akhilesh Yadav has won national acclaim by helping return his father to power as chief minister of Uttar Pradesh, India’s most populous and politically key state where Gandhi had hoped to stage a revival for Congress as it prepares to contest national elections in 2014.

Mar 6, 2012

SP set to form govt in Uttar Pradesh; blow for Congress

NEW DELHI (Reuters) – The Congress party trailed in fourth place as vote counting neared its end in Uttar Pradesh on Tuesday, a bitter election blow to Rahul Gandhi who had staked his political future on reviving his party’s fortunes in the state.

Gandhi, scion of the Nehru-Gandhi dynasty that ruled India for most of its 65 years of independence, had campaigned tirelessly to revive his party in the politically crucial state where it has not ruled for 22 years.

Mar 6, 2012