Food-price inflation in India, Asia’s third-largest economy, may accelerate after the government raised the prices it pays farmers for rice and oilseeds to records, making crops costlier, economists said.
Indian billionaire Gautam Adani’s wealth has tripled since Narendra Modi became the top opposition party’s prime minister pick eight months ago, fueling campaign attacks over the Gujarat chief minister’s plans to bolster Asia’s third-biggest economy.
An Indian Finance Ministry panel has recommended easing foreign investment rules in more than a dozen industries to help fund a record current-account gap, according to three government officials with knowledge of the matter.
India’s government must create space for the central bank to cut the key interest rate and revive economic growth, according to Yashwant Sinha, a former finance minister with the main opposition party.
India’s economic growth is weakening more than anticipated and inflation remains “high” as the rupee’s fall threatens to stoke price pressures, the central bank said, signaling it may leave interest rates unchanged.