Matthias's Feed
Feb 28, 2013

Eye on election, India surprises with spending surge

NEW DELHI (Reuters) – India unveiled a surge in government spending on Thursday, despite expectations of an austerity budget to shore up its finances, imposing new taxes on the rich and large companies to fund a dash for growth ahead of an election due by next year.

The extent of the slowdown gripping Asia’s third largest economy was underlined by data released just hours after Finance Minister P. Chidambaram delivered his budget for the coming fiscal year, showing GDP growth tumbled to 4.5 percent in the October-December quarter, its lowest in nearly four years.

Feb 26, 2013

India’s railway budget sets tone for austerity year

NEW DELHI (Reuters) – India reined in spending on its vast but decrepit rail network on Tuesday, setting the tone for what is expected to be the most austere federal budget in years in two days’ time as the government struggles to tame its fiscal deficit.

Gross budgetary support for the railways will rise nearly 8 percent to 260 billion Indian rupees in the coming fiscal year, less than half the 20 percent increase that was allocated in last year’s rail budget.gra

Feb 26, 2013

Government ducks passenger fare hike in railway budget

NEW DELHI (Reuters) – The government announced a fuel surcharge of just under 5 percent on freight traffic in the railway budget on Tuesday, but ducked the opportunity of a further round of passenger fare hikes as it gears up for a national election due next year.

India’s railway network is the world’s fourth largest but it has suffered from years of low investment and political meddling. The result is a creaking system plagued by delays, overcrowding and slow freight delivery times that sap the competitiveness of Asia’s third-largest economy.

Feb 26, 2013

India government ducks passenger fare hike in railway budget

NEW DELHI, Feb 26 (Reuters) – The Indian government
announced a fuel surcharge of just under 5 percent on freight
traffic in the railway budget on Tuesday, but ducked the
opportunity of a further round of passenger fare hikes as it
gears up for a national election due next year.

India’s railway network is the world’s fourth largest but it
has suffered from years of low investment and political
meddling. The result is a creaking system plagued by delays,
overcrowding and slow freight delivery times that sap the
competitiveness of Asia’s third-largest economy.

Feb 18, 2013

Trade deficit at $20 billion in Jan; imports hit record high

NEW DELHI (Reuters) – India posted its second highest ever monthly trade deficit of $20 billion in January as imports surged to record highs, piling pressure on a widening current account deficit and limiting scope for the central bank to cut interest rates.

Struggling to turn around an economy that is slowing to its lowest growth rate in a decade, the Reserve Bank of India cut interest rates by 0.25 percentage points last month, but warned that future rate cuts would depend upon declines in both the current account deficit and inflation.

Feb 13, 2013

India posts $20 billion January trade deficit; imports hit record high

NEW DELHI (Reuters) – India posted its second highest ever monthly trade deficit of $20 billion in January as imports surged to record highs, piling pressure on a widening current account deficit and limiting scope for the central bank to cut interest rates.

Struggling to turn around an economy that is slowing to its lowest growth rate in a decade, the Reserve Bank of India cut interest rates by 0.25 percentage points last month, but warned that future rate cuts would depend upon declines in both the current account deficit and inflation.

Feb 13, 2013

India posts $20 bln Jan. trade deficit; imports hit record high

NEW DELHI, Feb 13 (Reuters) – India posted its second
highest ever monthly trade deficit of $20 billion in January as
imports surged to record highs, piling pressure on a widening
current account deficit and limiting scope for the central bank
to cut interest rates.

Struggling to turn around an economy that is slowing to its
lowest growth rate in a decade, the Reserve Bank of India cut
interest rates by 0.25 percentage points last month, but warned
that future rate cuts would depend upon declines in both the
current account deficit and inflation.

Feb 13, 2013

Trade deficit at $20 billion in Jan, second highest ever

NEW DELHI (Reuters) – India posted its second highest ever monthly trade deficit of $20 billion in January, worsening from a $17.7 billion deficit in December, piling pressure on a widening current account deficit and limiting scope for the RBI to cut interest rates.

Struggling to turn around an economy that is slowing to its lowest growth rate in a decade, the Reserve Bank of India cut interest rates by 0.25 percentage points last month, but warned that future rate cuts would depend upon declines in both the current account deficit and inflation.

Feb 13, 2013

India posts $20 bln trade deficit in January, second highest ever

NEW DELHI, Feb 13 (Reuters) – India posted its second
highest ever monthly trade deficit of $20 billion in January,
worsening from a $17.7 billion deficit in December, piling
pressure on a widening current account deficit and limiting
scope for the central bank to cut interest rates.

Struggling to turn around an economy that is slowing to its
lowest growth rate in a decade, the Reserve Bank of India cut
interest rates by 0.25 percentage points last month, but warned
that future rate cuts would depend upon declines in both the
current account deficit and inflation.

Feb 12, 2013

Slow approvals put India’s drug trials industry at risk

MUMBAI/NEW DELHI, Feb 13 (Reuters) – Slower government
approval for testing new medicines is threatening India’s
aspirations to be a fast-growing, low-cost hub for clinical
trials, and has prompted some drugs firms to shift operations
elsewhere, adding to their costs.

While India’s drug regulator and the health ministry’s
medical research body deny any slowdown, interviews by Reuters
with pharmaceutical companies, lobby groups, industry watchers
and healthcare activists tell a different story.