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Govt to develop financial markets to attract investment

Govt to develop financial markets to attract investment

Media reports indicate that the government may take steps to develop financial markets in the country, as part of its economic reform drive. In this regard, the government may launch financial instruments intended to encourage foreign sovereign wealth funds to invest long-term money in India. The Indian government is desperately trying to attract foreign investment into the Indian financial market in order to bridge the high current account defic

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Minister hints at more reforms in coming months

Minister hints at more reforms in coming months

Expressing hope of a turnaround in the economy, Finance Minister P Chidambaram hinted that the government would unleash more reforms in the second half of the year. He said this while interacting with media persons on the sidelines of the performance report release function on the fourth anniversary of UPA-II

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Govt’s fuel subsidy benefits only the rich

Govt’s fuel subsidy benefits only the rich

A top International Monetary Fund (IMF) official said the spending of the Indian government on fuel subsidy is mainly benefiting the rich and not the poor. Laura Papi, Assistant Director, Asia and Pacific Department at the fund said it would take 1/10th of the current expenditure on subsidy to benefit the bottom 40 per cent of the population

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S&P expects improvement in bank performance in FY15

S&P expects improvement in bank performance in FY15

Ratings agency Standard & PoorÂ’s (S&P) expects the performance of Indian banks to improve only in 2014-15. The agency feels that till then the banking sector would continue to face hurdles, in terms of asset quality and earnings. In 2013-14, the agency expects improvement in the economic growth and corporate performance aided by vario