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Economy and Politics

Finance Minister Pranab Mukherjee says that efforts to evolve consensus on the controversial decision to open up multi-brand retail to Foreign Direct Investment (FDI) were on.

 
 
Commerce and Industry Minister Anand Sharma says the pause in implementation of the government's decision cannot be too long.
India's foreign exchange reserves rose by $731.8 million to $293.25 billion for the week ended January 20.
Inflation in the overall primary articles category stood at 1.89 per cent for the week ended January 14, as against 2.47 per cent in the previous week.
The proposed bilateral free trade agreement being negotiated by the two sides will include goods, services and investment.
Finance Minister Pranab Mukherjee hints that the Union Budget may be presented around the middle of March in view of the ongoing Assembly elections.
Dealers said consistent dollar inflows and euro's gains against the US currency overseas mainly supported the rupee.
 
 
At the World Economic Forum, Sharma dismisses the criticism of India's growth story and says its economy is robust.
The shift in stance, industry associations believe, might reflect on the repo rates as well from here on, which would help in fueling the weakened investment cycle.
Dealers said selling of dollars by exporters and euro's gain against the US currency in overseas markets strengthened the rupee.
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