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Economy and Politics

RBI Governor D Subbarao at a meet painted a dim macro economic picture and fuelled fears of the local currency plunging to record-low levels in the short-term.

Microsoft founder and philanthropist Bill Gates met Planning Commission Deputy Chairman Montek Singh Ahluwalia in New Delhi.
Media reports said that Japan is expected sell bullet train technology to India for a high-speed connection between Mumbai and Ahmedabad.
Prime Minister Manmohan Singh says the government was committed to taking "hard and difficult decisions" in the long term interest of the country's economy.
The Paris-based think tank says efforts to speed up the approval of large investment projects and the partial deregulation of FDI may help the economy recover.
Though the instrument is aimed at preventing inflation from eating into the returns from investments, the protection may be partial.
RBI plans to allow exporters and importers to rebook and cancel up to 50 per cent of their total hedged exposure from the present cap of 25 per cent.