Indian Prime Minister Manmohan Singh’s economic advisory body cut its growth forecast and signaled interest rates wouldn’t fall until the rupee stabilizes and inflation eases. Bonds, the currency and stocks fell.
India’s newly installed central bank Governor Raghuram Rajan burnished his international credentials at a 2005 U.S. conference warning about the danger of a potential crisis. Now he has one of his own to contend with.
Indian Prime Minister Manmohan Singh , who’s halfway to his fiscal-year target for share sales with 35 days to go, may have to set a more ambitious goal for the next 12 months even as investors shun the country’s stocks.