Just a day ahead when country expected a repo rate cut by the Reserve Bank of India, the bank said monetary easing needed a sustained fiscal consolidation. Read more
Tag: Economy
Foreign firms not required to prop up economy: Anna to Manmohan
According to latest news, social activist Anna Hazare on Sunday criticized the Prime Minister Manmohan Singh for inviting international firms in India to prop up the economy.
Anna Hazare reminded father of the nation, Mahatma Gandhi’s plan to first improving the rural economy.
Anna Hazare was sharing his views at the ThinkFest conclave, he said, “Prime minister says we cannot improve the economy without inviting foreign companies, which is absolutely wrong.” Read more
Rupee bounces back by FDI: RBI
Amid opposition over UPA FDI reform, the Reserve Bank of India highlighted positive effects as 51 % FDI in multi-brand retail will improve Indian economy as well as global economy faster than China.
“On the positive side, it (FDI in retail) improved sentiment as was shown in the market. Rupee has rebounded to a considerable extent.
There is certainly promise,” RBI Deputy Governor Anand Sinha said in a statement. Read more
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