Prioritisation of spending key to fiscal consolidation: government
NEW DELHI (Reuters) - The finance ministry delivered a report on the state of the economy on Wednesday, a day before Finance Minister P. Chidambaram unveils what is expected to be the most austere federal budget in years.
The annual report was prepared by Raghuram Rajan, the former chief economist to the International Monetary Fund (IMF), who became the top adviser in the finance ministry last year.
(Reporting by Tony Munroe)
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The BSE Sensex and Nifty rose more than 1 percent on Monday to mark their biggest daily gain in more than one week after the government's energy reforms led to a rally in oil firms, while wins by Prime Minister Narendra Modi's party in two state elections raised expectations for additional reforms. Full Article