Petrol hike pumps hope for India
Raising prices at petrol pumps is never likely to be popular. India's brave decision will also prove meaningless unless it is followed by bolder action to cut the more generous diesel subsidies. But the direction of travel is right and if the journey continues India could just turn a corner, writes Jeff Glekin. Full Article
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Late monsoon won't impact economy much - govt
People use plastic sheets to take cover from monsoon rains in Mumbai August 7, 2007. Delayed monsoon rains may not have much impact on the Indian economy, a senior government official said on Tuesday.
Credit: Reuters/Arko Datta
MUMBAI |
MUMBAI (Reuters) - Delayed monsoon rains may not have much impact on the Indian economy, a senior government official said on Tuesday.
"It is possible the monsoon is delayed by a couple of weeks, but it's not going to impact the economy much," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters when asked about the impact of delayed rains on the economy.
The monsoon, crucial to a farm sector has stalled after an early start. In the week ended June 17, rains were 51 percent below normal, the Meteorological Department said last week.
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