World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
India Lays Out Deficit Targets
Keywords:
After increasing the price of subsidized diesel, the Indian government lays out a plan to cut the deficit over five years. The plan sets a goal for the deficit of 5.3% for fiscal year ending March 2013 to come down to 3% by 2017. Earlier India's central bank, the Reserve Bank of India (RBI), had said the government needed to take action on the deficit before it reduced interest rates. The RBI faces a difficult task in reducing rates to stimulate the slowing economy because inflation was 7.8% in Sept. 2012. At the same time the sharp decline in growth is a cause for serious concern- the most recent RBI forecast for GDP growth made in July for the current fiscal year through March 2013 is 6.5%. This may not be achieved as other economists have lowered the estimate to as low as 5% because of slow government action in economic reforms, high interest rates, and the uncertain global economc outlook. The last action by the RBI to lower interest rates was a drop of half a percentage point in April 2012. Much of the momentum for the Indian economy was lost in the first half of 2012 with the governments vacillating steps for opening the retail and other sectors to foreign investment. Only in October 2012 has prime minister Manmohan Singh set a clear direction by dropping coalition partners opposed to reforms and announcing new policies for foreign investment.
India's Deficit
06/25/2010
Grouped Articles
India Cuts Fuel Subsidies Ahead of G-20 Meeting
New York Times 06/25/2010
Slowdown Strains New Delhi Finances
Wall Street Journal 06/01/2011
India to Tackle Deficit but No Fix Is Offered for Slowing Economy
New York Times 03/16/2012
New Delhi Aims to Tackle Burden of Costly Subsidies
Wall Street Journal 03/17/2012
IKEA Says It Is Ready To Give India a Try
Wall Street Journal 06/25/2012
Singh Appeals to India to Support His Measures
New York Times 09/21/2012
India's 2011 Budget
06/25/2010
A renewed committment to reducing the fiscal deficit in 2011-2012, and bringing it down to 4.1% of GDP by 2012-2013.
Grouped Articles
India Cuts Fuel Subsidies Ahead of G-20 Meeting
New York Times 06/25/2010
Indian Budget Reins in Spending Increases
Wall Street Journal 03/01/2011
The Importance of Being Pranab Mukherjee
Wall Street Journal 02/25/2011
India's economy: Calling on the gods
Economist 03/05/2011
Slowdown Strains New Delhi Finances
Wall Street Journal 06/01/2011
India to Tackle Deficit but No Fix Is Offered for Slowing Economy
New York Times 03/16/2012
Competitive liberalization with states taking the lead for development in India
12/16/2011
Indian government policy is shifting to state led development as coalition governments in New Delhi are unable to create the consensus for needed decisions. An example is the failure to provide clear direction for foreign investment in India's retail sector in 2011-2012 because of disagreements with minority region based parties in the ruling coalition government of Manmohan Singh. Decisons were finally taken with a change in coalition partners after a decline in foreign investment and large deficits forced the government to act.
Grouped Articles
Wall Street Journal 06/26/2013
Retail FDI to Benefit Middlemen, Says Basu
Wall Street Journal 12/16/2011
As Growth Slows, India Awakens to Need for Foreign Investment
New York Times 02/07/2012
Competing Visions for Russia’s Economic Future
New York Times 05/22/2014
India's Modi Articulates Vision for Economic Change
Wall Street Journal 09/30/2014
India’s new approach lets individual states take the lead on development - The Washington Post
Washington Post 10/26/2012
The government of prime minister Manmohan Singh's efforts to attract foreign investment to India in 2012-2013
01/20/2008
Manmohan Singh takes over the finance minister position, a psoition he held when India opened up its economy in the 1990's. Efforts to reverse investor sentiment, domestic and international in July 2012.
Grouped Articles
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Rupee Recovers From Tuesday's Record Low
Wall Street Journal 06/12/2013
Wall Street Journal 06/26/2013
Retail FDI to Benefit Middlemen, Says Basu
Wall Street Journal 12/16/2011
India Tackles Fear of a Market Crisis
Wall Street Journal 08/19/2013
A Summer of Troubles Saps Indiaâs Sense of Confidence
New York Times 08/18/2013
India- interest rate increases by the central bank in 2011-2014
05/13/2010
Interest rate increases in by India's central bank, the Reserve Bank of India (RBI).
Grouped Articles
How Duvvuri Subbarao Is Steering India's Economy
BusinessWeek 05/13/2010
Delhi Taps IMF Veteran to Run Central Bank
Wall Street Journal 08/07/2013
India's Central Bank Surprises Markets With Rate Increase
Wall Street Journal 09/21/2013
India's Central Banker Lobbies Fed
Wall Street Journal 10/13/2013
It's India's Year of Inflation
BusinessWeek 07/22/2010
Staying Away from Indian Bonds
Wall Street Journal 12/18/2013
Inflation in India : 2009-2014
05/13/2010
The poor monsoon in 2009 was a major factor in the rise of prices paid by consumer and farm workers, which saw arise of 14% annually by mid 2010, and were the highest of 17 countries in the Asia-Pacific region in Bloomberg tracking. The Reserve Bank of India (RBI), India's central bank, is making efforts to control inflation with interest rate increases.
Grouped Articles
How Duvvuri Subbarao Is Steering India's Economy
BusinessWeek 05/13/2010
India's Central Bank Surprises Markets With Rate Increase
Wall Street Journal 09/21/2013
India's Central Banker Lobbies Fed
Wall Street Journal 10/13/2013
Balancing Act for Indiaâs Top Banker
New York Times 11/07/2013
Staying Away from Indian Bonds
Wall Street Journal 12/18/2013
Setting a Course for India's Inflation Nirvana
Wall Street Journal 01/23/2014
Winning the vote of the average farmer, the poor farmer in debt, the extremely poor in rural areas, and delivering on programs and economic growth in India.
02/17/2008
The task of building an organization behind competent and good government, and having programs to help the farmers in rural areas, the extremely poor, and farmers in debt, all work to build credibility and votes in India. This position has been taken by the Congress leaders prime minister Manmohan Singh, Sonia Gandhi, and Rahul Gandhi. Years of patient effort at the grassroots and for development if continued could payoff for the current leaders and for India.
Grouped Articles
Angry young Indians: What a waste
Economist 05/16/2013
Party Leader in India Becomes Ill After Speech
New York Times 08/26/2013
India's Lower House Passes Food Bill to Help Poor
Wall Street Journal 08/26/2013
India's Main Opposition Party Names Candidate for Prime Minister
Wall Street Journal 09/13/2013
Campaign for Prime Minister in India Gets Off to Violent Start
New York Times 09/17/2013
Six Killed in Explosions Ahead of India Campaign Rally
Wall Street Journal 10/28/2013
Slowing economic growth in India 2011-2014
03/30/2011
Grouped Articles
Angry young Indians: What a waste
Economist 05/16/2013
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Economist 06/27/2013
Indian Markets Battered by Signs of End to Easy Money
Wall Street Journal 08/17/2013
India Tackles Fear of a Market Crisis
Wall Street Journal 08/19/2013
A Summer of Troubles Saps Indiaâs Sense of Confidence
New York Times 08/18/2013
Sharma and Beckett's interview with Indian finance minister Chidambaram in October 2012
06/25/2010
The Kelkar committe says India faces "a perfect storm," a situation worse that the balance of payments crisis of 1990. Finance minister Chidambaram and the government of prime minister Manmohan Singh, who was finance minister during the 1990 crisis, welcomes the report for pointing to the need for urgency in action by the government. Chidambaram outlines the government's plan to tackle the deficit and bring it down to 5.3% in 2013. He says foreign investment is needed for India to maintain its growth rate and the government announces steps to open the retail, insurance and airline sectors to foreign investment.
Grouped Articles
Angry young Indians: What a waste
Economist 05/16/2013
Rupee Recovers From Tuesday's Record Low
Wall Street Journal 06/12/2013
Economist 06/27/2013
Mom-and-Pop Investors Bolt Emerging Markets
Wall Street Journal 08/22/2013
India Cuts Fuel Subsidies Ahead of G-20 Meeting
New York Times 06/25/2010
Business Executives in India Ready to Welcome Modi Administration
Wall Street Journal 05/17/2014
India's current account deficit
06/25/2010
Grouped Articles
Rupee Recovers From Tuesday's Record Low
Wall Street Journal 06/12/2013
India Cuts Fuel Subsidies Ahead of G-20 Meeting
New York Times 06/25/2010
IKEA Says It Is Ready To Give India a Try
Wall Street Journal 06/25/2012
Singh Appeals to India to Support His Measures
New York Times 09/21/2012
Wall Street Journal 10/09/2012
Q&A With Finance Minister Chidambaram
Wall Street Journal 10/08/2012
Raghuram Rajan as the chief economic advisor to prime minister Manmohan Singh of India 2012-2014
08/25/2010
The former chief economist of the IMF teaches at the University of Chicago. The Indian prime minister and finance minister faced with slowing growth and a growing deficit have made him the chief economic advisor to the government. Rajan seeks to focus on three areas, allowing foreign investment and foreign banks to operate in the country, reducing waste in food storage and distribution, and improving the climate for new business so that growth does not depend largely on the large companies in the country.
Grouped Articles
Angry young Indians: What a waste
Economist 05/16/2013
Economist 06/27/2013
Delhi Taps IMF Veteran to Run Central Bank
Wall Street Journal 08/07/2013
Rajan Has Limited Rupee Options
Wall Street Journal 08/06/2013
Mom-and-Pop Investors Bolt Emerging Markets
Wall Street Journal 08/22/2013
India's Central Bank Surprises Markets With Rate Increase
Wall Street Journal 09/21/2013
Prime Minister Manmohan Singh and the Congress party administration in India
01/11/2009
Grouped Articles
Anti-corruption protests in India: No modern-day Mahatma
Economist 08/27/2011
Washington Post 06/09/2013
Campaign for Prime Minister in India Gets Off to Violent Start
New York Times 09/17/2013
Big Indian States Deal Poll Setback to Congress Party
Wall Street Journal 03/07/2012
Poll Suggests Crushing Loss Awaits India’s Governing Party
New York Times 02/26/2014
Young, Aspiring Indians Fuel Rise of Narendra Modi
Wall Street Journal 04/07/2014
India's central bank, the RBI and policies to control inflation and achieve other economic goals.
03/19/2006
Policies and actions of India's central bank, The Reserve Bank of India (RBI).
Grouped Articles
How Duvvuri Subbarao Is Steering India's Economy
BusinessWeek 05/13/2010
Delhi Taps IMF Veteran to Run Central Bank
Wall Street Journal 08/07/2013
India's Central Bank Surprises Markets With Rate Increase
Wall Street Journal 09/21/2013
India's Central Banker Lobbies Fed
Wall Street Journal 10/13/2013
Taping Up India's Broken House
Wall Street Journal 10/30/2013
Balancing Act for Indiaâs Top Banker
New York Times 11/07/2013
Food prices in India.
01/19/2008
Inflation and the supply shock for food prices in India. The efforts of the RBI, India's central bank, to control inflation with a series of interest rate increases.
Grouped Articles
India's Central Bank Surprises Markets With Rate Increase
Wall Street Journal 09/21/2013
India's Central Banker Lobbies Fed
Wall Street Journal 10/13/2013
It's India's Year of Inflation
BusinessWeek 07/22/2010
Staying Away from Indian Bonds
Wall Street Journal 12/18/2013
Wall Street Journal 09/04/2010
Setting a Course for India's Inflation Nirvana
Wall Street Journal 01/23/2014
India's economy in 2010-2015
06/25/2010
Grouped Articles
No Ticker Tape Parade for Brazil's Currency Heroes
Wall Street Journal 06/06/2013
Indian Markets Battered by Signs of End to Easy Money
Wall Street Journal 08/17/2013
India Tackles Fear of a Market Crisis
Wall Street Journal 08/19/2013
A Summer of Troubles Saps Indiaâs Sense of Confidence
New York Times 08/18/2013
Mom-and-Pop Investors Bolt Emerging Markets
Wall Street Journal 08/22/2013
How Emerging Markets Can Get Their Mojo Back
Wall Street Journal 09/12/2013
Assessments of economic progress in the next decade for India.
02/16/2006
Assessments by Martin Feldstein and others of where India's is in its new trajectory and how things are likely to unfold in the next decade in its development.
Grouped Articles
Anti-corruption protests in India: No modern-day Mahatma
Economist 08/27/2011
Indian Markets Battered by Signs of End to Easy Money
Wall Street Journal 08/17/2013
India Tackles Fear of a Market Crisis
Wall Street Journal 08/19/2013
A Summer of Troubles Saps Indiaâs Sense of Confidence
New York Times 08/18/2013
âAn Uncertain Glory,â by Jean Drèze and Amartya Sen
New York Times 09/06/2013
How Emerging Markets Can Get Their Mojo Back
Wall Street Journal 09/12/2013
The Indian government's plan to bring the deficit down over 5 years to 3% in 2017
02/14/2012
In response to the policy of the Reseve Bank of India (RBI), India's central bank, to hold off on interest rate changes till the government takes action in reducing the deficit, the Indian government lays out a plan to bring the deficit down to 3% by 2017, and 5.3% in the fiscal year ending March 2013. The government is under pressure to come up with an economic strategy to deal with the slowing economy with growth forecasts lowered to 5-6.5% for 2012. The risk of India's credit rating being being lowered to junk status and drastic slowdown in foreign investment is creating a crisis atmosphere after a period of indecison.
Linked Articles
India Lays Out Deficit Targets
Wall Street Journal 10/30/2012
Indian Central Banker Hits His Government's Spending
Wall Street Journal 02/14/2012
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us