The Eurofighter, made by Britain, Germany, Italy and Spain, was knocked out in the final round of the tender by Rafale. But controversy over the lifetime cost of operating the French plane blocked...
"We must ... remove discretion, phase out exemptions and bring the effective rate down to global levels," Jaitley told a news conference called to mark the first year of Prime Minister Narendra Mo...
Jayant Sinha's comments signal a compromise over the biggest regulatory overhaul in a generation, which had become a source of friction between the RBI and the finance ministry.
"India's economy is doing better than its peers, with recent policy reforms and improved business confidence set to boost growth to 7.5 per cent", Lagarde said.
The statement by International Monetary Fund chief Christine Lagarde came just ahead of a US Federal Reserve meeting, in which it may signal an increase in interest rate.
The RBI on Wednesday cut the repo rate - the interest rate at which it lends to banks - by 25 basis points to 7.5 per cent, effective immediately.
"This issue has been brought to our notice and the concerned authorities, including the central bank, have taken appropriate action," Jaitley said.
New Delhi expects the economy to grow an annual 7.4 per cent in the year ending in March faster than a revised 6.9 per cent a year earlier.
Mobile operators and pre-paid wallet players are expected to lead the charge, seeking to add transaction fees to revenue streams from products such as phone minutes and bill payments.
US President Barack Obama said that US Export-Import Bank would finance US $1 billion in exports of 'Made-in-America' products.
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