According to minutes out on Friday, most members also recommended that the central bank should focus on building up forex reserves to manage capital outflow risks.

MNREGA was a colossal welfare programme that helped the Congress-led UPA retain power in 2009. But it has been marred by large-scale corruption. With general election underway, Business Today travels to two of India's poorest states - Bihar and Jharkhand - for an update on how it is being implemented.

The power sector already faces an acute shortage of natural gas. The hike in gas prices from April 1 will compound its problems.

Sources said the names are that of market regulator Sebi Chairman U K Sinha, insurance regulator Irda Chairman T S Vijayan, pension regulator PFRDA Chairman Yogesh Agarwal, Financial Services Secretary Rajiv Takru and financial sector expert Y H Malegam.

Many multinationals have jacked up royalty rates from local subsidiaries ever since the Indian government scrapped a cap on royalties to overseas parents about three years ago. Shareholders say the higher royalty payouts are cutting into net profits and, in effect, reducing their dividend payouts.

Tightening the norms for algorithmic trading, market regulator Sebi on Tuesday made it mandatory for the users to have their systems audited every six months and increased penalties on errant stock brokers.

The Reserve Bank of India's decision to cut interest rates in the third quarter monetary policy review was in tune with the unanimous opinion of external experts in this regard.

Reserve Bank of India governor D.Subbarao ignored the suggestion of most external members of Technical Advisory Committee to keep the key repo rate steady on October 30.

Succumbing to inflation, RBI has left key rates unchanged after front loading a rate cut in April.

The capital market regulator said exchanges should ensure that all algorithmic orders, software driven automated order execution engines, are routed through broker servers located in India.

Like any listed company, a rating agency must deliver consistent revenue growth and keep its shareholders happy. Many in the industry argue that, given the lack of a sizeable debt market, agencies look beyond their core business and end up grading business schools, IPOs, MFIs, real estate projects and even hospitals. Is the lack of a vibrant debt market in the country spelling trouble for the industry?

Economy watchers are getting more sceptical about the 8.1 per cent GDP growth estimates of the government after industrial output growth fell to its 21-month low in July. There is an overarching view that India will settle at a 7.5 per cent growth rate - though there are no official estimates as yet.

Will Chairman Deepak Kapoor be able to protect scam-tainted PwC India's fiercely independent legacy?

Despite regulatory risks, the education space is seeing corporate-style business models emerge as private players pour in funds for big returns.

Uninor is one of the new operators which was allotted 2G spectrum, or radio waves, by former telecom minister A Raja and is under scanner on eligibility criteria.

Does the appointment of VK Shunglu at the head of a committee to probe the irregularities at the CW create a conflict of interest for the retired CAG because of his position in PwC? It is something that Shunglu himself is still trying to figure out, writes Suman Layak.

Pranab Mukherjee's stewardship is missed at the North Block, 18 months into his tenure. He's been busy but not as the country's finance minister.

India becomes a hot market for optional vaccines.

The UK-India Joint Economic and Trade Committee (JETCO) was set up in pursuance of the UK-India Joint Declaration made at London by the Prime Ministers of the United Kingdom and India on September 20, 2004.

Business Today takes a peek into the inscrutable Indian operations of the global Big Four. Do they deserve the flak they’ve come in for in the wake of the Satyam fraud? Yes and no. Suman Layak & Puja Mehra go into the details. The big 4Big cheese Vs small frySome don’t like it bigThe problem withinThe bloodhounds of bookkeeping