Politics

Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

Weakened Congress wondering if early elections will help

The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term.  Full Article 

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MARKET EYE-India OIS lower; fuel price hike awaited

Tue Sep 11, 2012 11:50am IST 

* India 1-year rate falls 1 bp to 7.74 percent,
while 5-year OIS rate down 2 bps to 7.17 percent.
* Dealers await outcome of cabinet panel meet, scheduled at 1745
local time, with media reports citing fuel price hike may be on
agenda.
* Bond market looking at any possible price hike in domestic
fuel prices as positive as it will be a signal towards fiscal
consolidation.
* RBI has said it will act on rates only when the government
takes steps to address its large fiscal gap.
* Cash beginning to tighten in advance tax outflow week with
repo bids rising to 513.90 billion rupees from a near year-low
of 21.20 billion rupees last week. 

 (subhadip.sircar@thomsonreuters.com;
subhadip.sircar.thomsonreuters.com@reuters.net)
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