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Economy and Politics

Headline inflation declined to 9.22 per cent in July as the rate of price rise in food articles and petro-products eased, though pressure remained on manufactured items.

 
 
The Indian currency had ended 7 paise higher at Rs 45.34/35 against the US dollar in the previous session on Friday, helped by foreign capital inflows.
Foreign investors are confident of India's economic growth as even during the peak of the global economic crisis, the country's GDP registered a healthy growth rate.
The near double digit inflation could prompt the Reserve Bank to continue with its tight monetary policy, which it had been following since March 2010.
Hefty refunds pulled down net direct tax collections by 8.14 per cent to Rs 78,679 crore during the April-July period of this fiscal.
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