Economy
CREDIT POLICY: RBI hikes key rates by 25 bps
India’s central Bank increased its key short term lending and borrowing rates by 25 basis points each with immediate effect in order to control the rising inflation in the country. The measures will support the government efforts to cool inflation after Prime Minister Manmohan Singh unveiled plans to reduce food prices by importing onions from [...]
Employees prefer stability to monetary gains: Experts
Stability seems to be the watchword rather than monetary incentives, till corporate hiring’s return to the pre-downturn levels. Despite the employment market being much better than 2008, employees are still cautious in changing their jobs. Global crisis has made employees more loyal to their existing organizations. They believe with positive attitude of management and active [...]
”6.5 million homes got 100 days employment under NREGA”
Rural Development Minister C P Joshi stated that only 65 lakh households had got 100 days employment under the Mahatma Gandhi Rural Employment Guarantee Scheme . This is although 10 crore people had got job cards when the programme was launched. When NREGA was launched 10 crore people got job cards where of these 4.6 [...]
Rupee at 18-month peak on $ weakness
The rupee strengthened to its highest level in more than 18 months on Monday morning. It was boosted by the dollar”s weakness against major currencies and mild gains in the local sharemarket. Meanwhile, at 9:07 a.m, the partially convertible rupee was at 45.10/11 per $, its strongest since Sept. 10, 2008 and above its close [...]
Inflation to drop in 2-3 months, says Montek
Planning Commission Deputy Chairman Montek Singh Ahluwalia stated that inflation would decline in the next 2-3 months. This is due to the declining food prices and ruled out that food inflation would spill over to non-food items. He said that he does not think it matters if inflation reaches double digit mark in 1 week [...]
Govt needs to target 5% inflation: Plan panel
The government should target wholesale and consumer price inflation of 5%. It should also seek to bring it lower in order to maintain price stability and inclusive economic growth. This was said by the Planning Commission in a draft report. The document was obtained by Reuters and said achieving this target was quite within the [...]