Subir Gokarn News
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India, the world’s largest bullion buyer, may raise taxes on gold imports to help tackle a record current-account deficit, Finance Minister Palaniappan Chidambaram said.
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India is considering economist Urjit Patel as one of three candidates for deputy governor at the nation’s central bank, a government official with direct knowledge of the matter said.
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India is considering a new term for Subir Gokarn, the deputy governor in charge of monetary policy at the nation’s central bank, a government official with direct knowledge of the matter said.
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India, the world’s largest bullion buyer, should mobilize idle gold lying with its citizens to curb imports and lower a record current-account deficit, according to the All India Gems & Jewellery Trade Federation.
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India’s government won a vote in parliament’s upper house on foreign investment in supermarkets, securing a clean sweep of both chambers and raising expectations it will move ahead with further economic reforms.
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India’s rupee, which slumped to a record low last week, has been “relatively stable” following steps announced by the central bank, Deputy Governor Subir Gokarn said, promising “more measures as the need arises.”
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Reserve Bank of India Deputy Governor Subir Gokarn said the monetary authority will cut interest rates once it’s confident inflation will keep slowing.
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Indian officials pledged to cut the widest budget deficit among the world’s largest emerging markets and curb public debt, as a report this week may show the economy grew at close to the slowest pace in three years.
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A good monsoon in India may ease the country’s inflationary pressures, allowing the central bank to continue its “moderate” pace of policy tightening, Deputy Governor Subir Gokarn said today.
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India’s persistently high inflation may prevent an imminent reversal of record interest-rate increases, as a weakening rupee and oil’s rebound reduce the scope for monetary easing, the central bank’s deputy chief said.
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