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NEW YORK/NEW DELHI India's economy will return to growth in 2021/22 after a sharp contraction in the latest year, and higher public spending will lay the foundation for stronger growth in the next four to five years, Finance Minister Nirmala Sitharaman told Reuters on Thursday.
NEW YORK/NEW DELHI India's economy will return to growth in 2021/22 and higher spending in the budget due in February will lay the foundations for even stronger growth in the next four to five years, Finance Minister Nirmala Sitharaman told Reuters on Thursday.
MUMBAI/NEW DELHI Lakshmi Vilas Bank is set to be folded into the Indian unit of Singapore's DBS under a plan proposed by the Reserve Bank of India (RBI), which took over LVB on Tuesday due to a "serious deterioration" in its finances.
NEW DELHI India's retail inflation may stay elevated for at least three more months after hitting a six-year high in October, as excess rain has damaged standing crops and seedlings, while edible oils that the country imports have become expensive.
NEW DELHI The Indian government announced a fresh stimulus of $16.1 billion on Thursday to be spent largely on creating jobs and boosting the nascent recovery visible in various sectors even as it tries to keep a lid on the ballooning fiscal deficit.
NEW DELHI India's retail inflation remained above 7% in October for a second straight month as vegetable prices stayed at elevated levels, worrying policymakers, who are struggling to pull Asia's third largest economy from a deep slump.
NEW DELHI India is planning to announce a fresh round of stimulus totalling about $20 billion this week to help pull the economy out of its historic contraction, government officials said on Wednesday.
* India's PM, FM to finalise the stimulus package on
NEW DELHI India's cabinet on Wednesday approved a proposal to provide production-linked incentives of about 2 trillion rupees ($27 billion) over five years to create jobs and boost manufacturing in the country, the finance minister said.