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Describing the RBI decision of not cutting key interest rates to check price rise as the "right move", outgoing Chief Economic Advisor Kaushik Basu on Tuesday expressed hope that inflation would come down to below 7 per cent in September."My expectation is that inflation in the month of September will go below 7 per cent," he said while commenting on the RBI decision to keep interest rates unchanged...
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Tuesday took potshots at the Centre for once again giving the Finance Ministry charge to P. Chidambaram and elevating Sushil Kumar Shinde as the Home Minister, saying it is a clear case of talent deficit in the UPA Government led by Dr. Manmohan Singh.Senior BJP leader Ravi Shankar Prasad said the present exercise of change of certain ministers in the council of ministers is not even cosmetics, but...
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Union home minister P Chidambaram arrives for a cabinet meeting at South Block in New Delhi. PTI/Shahbaz KhanIn a much-anticipated but limited reshuffle in the Union Cabinet, P Chidambaram was on Tuesday made the finance minister and his portfolio of home ministry was given to Sushil Kumar Shinde.In the exercise, necessitated by the exit of Pranab Mukherjee from the Cabinet last month,corporate affairs...
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The Reserve Bank of India left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.(Reuters)...
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India's new finance minister, while his cabinet colleague Sushilkumar Shinde will take charge of the home ministry, a Rashtrapati Bhavan communique issued Tuesday said."The president, as advised by the prime minister, has directed that the portfolios of the following ministers will be re-allocated as follows - P. Chidambaram Finance, Sushilkumar Shinde Home Affairs," the statement said."Further, as...
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Indian Home Minister P. Chidambaram gestures during the inaugration of an automated parking place in New Delhi on June 12, 2012. MrChidambaram was switched to the finance portfolio on Tuesday, the prime minister's office said, in a reshuffle that will see him charged with re-firing the country's spluttering economy.Chidambaram was switched to the finance portfolio on Tuesday, the prime minister's office...
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67 year old Palaniappan Chidambaram is back to his favourite haunt - the grand East facing room at North Block that houses the Finance Minister Of India....
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Erasing initial gains, the Sensex was down by over 84 points after the Reserve Bank left the key interest rate unchanged on Tuesday to fight inflation and lowered economic growth projection to 6.5 per cent for this fiscal.RBI also pegged March-end inflation at 7 per cent, up from 6.5 per cent earlier.The BSE 30-share barometer, which had added 55 points in opening trade, fell by 84.29 points at 17,059.39...
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DELHI—Harvard graduate P. Chidambaram on Tuesday was named India's finance minister for the third time, coming in at a time when the government is facing a huge challenge to push forward politically tough economic reforms and to revive growth without allowing inflation to spin out ofNEW DELHI—Harvard graduate P. Chidambaram on Tuesday was named India's finance minister for the third time, coming in...
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the country's top lender, expects retail lending costs to come down after the central bank cut the minimum requirement for banks' government bond holdings, its chairman Pratip Chaudhuri said.The central bank on Tuesday unexpectedly cut the statutory liquidity ratio to 23 per cent from 24 per cent in a move to free up liquidity, while leaving interest rates unchanged for the second straight review.The...
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CPI-M legislator in Kerala Tuesday filed a breach of privilege notice against the state's home minister over the police allegedly tapping phones of the party's legislators.Kodiyeri Balakrishnan, deputy leader of the Communist Party of India-Marxist (CPI-M) in the assembly, filed the notice against T. Radhakrishnan on complaints filed by E. Kareem and T.V. Rajesh that their mobile phones were being...
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P.Chidambaram is Indias new finance minister, while his cabinet colleague Sushilkumar Shinde will take charge of the home ministry, a Rashtrapati Bhavan communique issued Tuesday...
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Reserve Bank of India (RBI) Governor Duvvuri Subbarao Tuesday said persistent high inflation did not allow the central bank to cut interest rates immediately but there was scope for their being lowered in the 2012 calendar year....
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kept key policy rates unchanged in the first quarter review of monetary policy announced Tuesday. Following are the comments from experts on the monetary policy statement....
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Home Minister P.Chidambaram is India's new finance minister, while his cabinet colleague Sushilkumar Shinde will take charge of the home ministry, a Rashtrapati Bhavan communique issued today said. "The president, as advised by the prime minister, has directed that the portfolios of the following ministers will be re-allocated as follows - P. Chidambaram Finance, Sushilkumar Shinde Home Affairs," the...
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the second consecutive time, Reserve Bank Governor D Subbarao today left the key interest rate unchanged to fight inflation, and lowered the growth projection for the current fiscal to 6.5 per cent.However, as a liquidity inducing-measure, the Governor brought down the Statutory Liquidity Ratio (SLR) -- the amount of deposits banks park in government bonds -- by 1 per cent to 23 per cent, effective...
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Describing the RBI decision of not cutting key interest rates to check price rise as the "right move", outgoing Chief Economic Advisor Kaushik Basu on Tuesday expressed hope that inflation would come down to below 7% in September."My expectation is that inflation in the month of September will go below 7 per cent," he said while commenting on the RBI decision to keep interest rates unchanged for the...
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has more or less finalised the plan to tweak the Union Cabinet before Parliament opens on August 8. Three ministers will be shifted to the new portfolios. Home Minister P Chidambaram, as expected, will become the finance minister. He succeeds Pranab Mukherjee who has become President of India []. He is impatiently waiting for the announcement to be made within 'three to four days'., a senior Congress...
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Senior Congress leader Sushil Kumar Shinde on Tuesday was appointed as the new Home Minister.Shinde is also tipped to be among the favourites to be named as the Leader of the House in Lok Sabha.It may be noted that Chidambaram was the finance minister till late 2008, but was moved to the Home Ministry in November 2008 in the wake of 26/11 Mumbai terror attacks.As per a letter sent to the Rashtrapatin...
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Senior Congress leader P Chidambaram is soon to be announced as the country's new finance minister in a Cabinet reshuffle to be announced this evening, TV channels reported on Tuesday.Power minister Sushil Kumar Shinde will be made the home minister and also Leader of the House in LokSabha. Corporate affairs minister Veerappa Moily will get additional power charge of the power ministry.The Finance...
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RBI Cuts SLR By 1 Percent, Advocates Strong Policy Action From Indian Government To Reduce Deficit) left the interest rates unchanged for the second time, but cut the Statutory Liquidity Ratio (SLR) by 1 percent and growth forecast to 6.5 percent, reiterating its focus on containing inflation.The decisions to leave the key rates unchanged was in line with the expectations as inflation is likely to...
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Stating that inflation may come down to below 7% by September, Kaushik Basu said that India is not facing a problem of stagflation. NEW DELHI: Stating that inflation may come down to below 7 per cent by September, Kaushik Basu, Chief Economic Advisor of the PMEAC on Tuesday said that India is not facing a problem of stagflation. Commenting on the cut in Statutory Liquidity Ratio (SLR) undertaken b...
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The Reserve Bank of India left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.An...
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deteriorate.Muslim girls study in the light of candles inside a madrasa or religious school during power-cut in Noida on the outskirts of New Delhi July 30, 2012.(Reuters) - Half of India's 1.2 billion people were without power on Tuesday as the grids covering a dozen states broke down, the second major blackout in as many days and an embarrassment for the government as it struggles to revive economic...
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The Reserve Bank of India left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.A...
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The Reserve Bank of India left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.A general view of an electric power station on the outskirts of Jammu July 31, 2012.(Reuters) - Two hundred workers were stranded on Tuesday in three coal mines in West Bengal when a blackout...
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will soon name Palaniappan Chidambaram as the new finance minister in Prime Minister Manmohan Singh's cabinet, a senior government official told Reuters on Tuesday.Chidambaram, currently home (interior) minister, has held the finance post twice before and was hailed for his deft handling of the economy during the global financial crisis in 2008.His appointment would come at a time when economic growth...
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The Reserve Bank of India left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.(Reuters) - India...
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The Reserve Bank of India left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.(Reuters) - India will soon name Palaniappan Chidambaram as the new finance minister in Prime Minister Manmohan Singh's cabinet, a senior government official told Reuters on Tuesday.Chidambaram,...
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Reserve Bank of India (RBI) Governor Duvvuri Subbarao attends the monetary policy review meeting in Mumbai October 25, 2011. REUTERS/Danish Siddiqui/FilesMUMBAI (Reuters) - The Reserve Bank of India (RBI) left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.Underlining...
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etc.MUMBAI: Hours before Reserve bank of India is set to announce its decision on interest rates,has forecast a status quo by the central bank stating that the country is facing stagflation - a slowing economy as, the central bank governor, recently said inflation is still above the bank comfort level, signalling no change this month" said Glenn Levine, Senior Economist, Moody's Analytics.According...
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Highlighting the growing difficulty in attracting and retaining high quality scientific manpower, Prime Minister Dr. Manmohan Singh on Tuesday said that to make India a scientific and technological powerhouse, the current system of administering scientific and technical departments should be changed....
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have viewed reducing corruption in the United States Government as the second-highest priority for the next president, behind creating jobs, according to a new poll....
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the second consecutive time, Reserve Bank Governor D Subbarao on Tuesday left the key interest rate unchanged to fight inflation, and lowered the growth projection for the current fiscal to 6.5 per cent.However, as a liquidity inducing-measure, the Governor brought down the Statutory Liquidity Ratio -- the amount of deposits banks park in government bonds -- by 1 per cent to 23 per cent, effective...
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ISTFor the second consecutive time, Reserve Bank Governor D Subbarao on Thuesday left the key interest rate unchanged to fight inflation, and lowered the growth projection for the current fiscal to 6.5%.However, as a liquidity inducing-measure, the Governor brought down the Statutory Liquidity Ratio (SLR) -- the amount of deposits banks park in government bonds -- by 1% to 23%, effective August 11.The...
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the second consecutive time, Reserve Bank Governor D Subbarao today left the key interest rate unchanged to fight inflation, and lowered the growth projection for the current fiscal to 6.5 per cent.However, as a liquidity inducing-measure, the Governor brought down the Statutory Liquidity Ratio (SLR) -- the amount of deposits banks park in government bonds—by 1 per cent to 23 per cent, effective August...
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The Reserve Bank of India left interest rates unchanged for the second time since June, in line with expectations, while cutting its growth forecast and lifting its inflation outlook as economic conditions...
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deteriorate.People walk in front of the Reserve Bank of India (RBI) building in Kolkata May 21, 2012.(Reuters) - The Reserve Bank of India (RBI) left interest rates unchanged for the second time since June, in line with expectations, while cutting its growth forecast and lifting its inflation outlook as economic conditions deteriorate.The RBI kept its policy repo rate at 8 percent and left the cash...
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sniffer dog from the Indian police is tied outside the Reserve Bank of India (RBI) head office in Mumbai April 17, 2012. REUTERS/Vivek PrakashMUMBAI (Reuters) - The Reserve Bank of India (RBI) is expected to leave interest rates unchanged on Tuesday, seeing high inflation as a bigger danger than the slowest growth in almost a decade and keeping pressure on the government to revive the economy's fo...
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sniffer dog from the Indian police is tied outside the Reserve Bank of India (RBI) head office in Mumbai April 17, 2012.(Reuters) - The Reserve Bank of India (RBI) is expected to leave interest rates unchanged on Tuesday, seeing high inflation as a bigger danger than the slowest growth in almost a decade and keeping pressure on the government to revive the economy's fortunes.Weaker-than-normal monsoon...
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Reserve Bank of India appears unlikely to cut key policy rates Tuesday as it feels inflation risks remain high during 2012-13 even as economic growth is likely to remain below potential.“The near-term outlook on inflation continues to be marked by a number of upside risks, despite the significant slowdown in growth. These are unlikely to be mitigated in the near term,” the RBI said in its first quarter...
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set to take over as government's chief economic adviser (CEA). Although the decision is learnt to have been endorsed by Prime Minister Manmohan Singh, an announcement is expected after home minister P Chidambaram moves to the finance ministry in the next few days.Chidambaram is likely to take charge by August 5 with indications that power minister Sushil Kumar Shinde, who is tipped to be the Leader...
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