Matthias's Feed
Apr 4, 2013

Indian state to challenge Adani tariff ruling

NEW DELHI, April 4 (Reuters) – India’s Haryana state will
challenge this week’s ruling by the federal power regulator to
allow Adani Power to raise tariffs for electricity in
two states to compensate for the rising costs of coal imports
forced by domestic shortages.

The Central Electricity Regulatory Commission (CERC) on
Tuesday allowed Adani Power to charge more for electricity from
its Mundra plant to existing clients in the states of Gujarat
and Haryana until conditions improve.

Mar 19, 2013

Key India government ally withdraws from coalition

NEW DELHI (Reuters) – A key regional ally pulled out of India’s ruling coalition on Tuesday in protest against the government’s position on a U.S.-backed United Nations resolution on war crimes carried out during Sri Lanka’s civil war.

The Dravida Munnetra Kazhagam (DMK) is based in the southern state of Tamil Nadu, and has often pressured the Indian government to do more to protect Sri Lanka’s minority Tamil population. It wants the Indian government to introduce stronger language into the resolution, including the use of the word “genocide”. The government has yet to give a response on what its position on the resolution would be.

Mar 19, 2013

DMK withdraws from ruling UPA coalition

NEW DELHI (Reuters) – The DMK pulled out of the Congress-led UPA coalition on Tuesday in protest against the government’s position on a U.S.-backed United Nations resolution on war crimes carried out during Sri Lanka’s civil war.

The Dravida Munnetra Kazhagam (DMK) is based in Tamil Nadu, and has often pressured the government to do more to protect Sri Lanka’s minority Tamil population. It wants the Indian government to introduce stronger language into the resolution, including the use of the word “genocide”. The government has yet to give a response on what its position on the resolution would be.

Mar 14, 2013

Indians question how rape accused was able to commit suicide in jail

NEW DELHI (Reuters) – Authorities are scrambling to address how one of India’s most notorious prisoners, sharing a cell with three other inmates in the country’s most secure jail, was able to hang himself from an iron grille high above his head without anyone noticing.

At issue is this week’s apparent suicide of Ram Singh, the alleged ringleader in a case of gang rape and murder that horrified India last December.

Mar 14, 2013

Questions raised over Ram Singh’s suicide in Tihar jail

NEW DELHI (Reuters) – Authorities are scrambling to address how one of India’s most notorious prisoners, sharing a cell with three other inmates in the country’s most secure jail, was able to hang himself from an iron grille high above his head without anyone noticing.

At issue is this week’s apparent suicide of Ram Singh, the alleged ringleader in a case of gang rape and murder that horrified India last December.

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.