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Bank of Amercia-Merrill Lynch (BofA-ML) says the recent partial diesel price hike will inflict a 1.20 per cent burden on the already sticky inflation and that the price index will remain elevated throughout the next fiscal.

The country's foreign exchange reserves rose by $1.26 billion to $295.25 billion for the week ended January 11, on the back of sharp rise in currency assets.
World Bank Chief Economist Kaushik Basu has said India's growth is expected to inch closer to that of China in the near future.