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India, Australia Ink Pact to Focus on Clean Fuel Production

India and Australia are joining hands to develop a solution to address the fuel shortage in both nations. The countries formed a collaboration last week to find an alternative to liquid transport fuel supplies and reduce dependency on imports, stated a news release from Commonwealth Scientific and Industrial Research Organisation, Australia (CSIRO). Oct 15, 2013
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India will fully finance current account deficit: Arvind Mayaram

New Delhi, Oct 01 (ANI): India's Economic Affairs Secretary, Arvind Mayaram, said on Tuesday that the country would finance its current account deficit fully in the fiscal year ending March without drawing down on its reserves, and would also contain the fiscal deficit at 4.8 percent of GDP. He also said that economic growth will pick up in the second half of the fiscal year. Mayaram while addressing a news conference in New Delhi expressed confidence and said that they would be able to contain the current account deficit. Mayaram added that the government would not have to go beyond the finance ministry's planned market borrowing for the year, and would be able to meet its budgeted revenue target. Mayaram also said that the elevated level of current account deficit was mainly due to gold imports. Oct 1, 2013
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Brazil president: oil profit to go to education

On a visit to a shipyard used by state oil company Petrobras Wednesday, Brazil's President Dilma Rousseff confirmed that royalties from the country's offshore oil reserves will be spent on education and healthcare. The law sending 75 per cent of the profits to education was signed Monday, and should see 112 billion reais (around 37 billion euros) spent over the next ten years. Duration: 01:24 Sep 12, 2013
Raghuram Rajan, governor of Reserve Bank of India. (Reuters)

In-Depth: Top Achievements of RBI Chief Raghuram Rajan

Raghuram Rajan, who recently took over the reins of Reserve Bank of India, shored up investor confidence in his first speech. But his real task lies in uplifting the nation's poor economic conditions and on reviving the sliding rupee value. Sep 6, 2013
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