Steady reform promised

Article Abstract:

India's Finance Ministry has pledged that its appointment of a new central bank governor in the person of Planning Commission member Bimal Jalan will not hinder financial sector changes. Jalan succeeds Chakravarti Rangarajan, who has been lauded for introducing fiscal reforms meant to prepare the Indian economy for globalization. Chakravarti's replacement has surprised observers since his performance has so far been unquestionable.

Administration of General Economic Programs, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Currency Stabilization Programs, Banking industry, Management, Officials and employees, Appointments, resignations and dismissals, Foreign exchange, Financial institutions, Banking law, Currency stabilization, Reserve Bank of India, Jalan, Bimal

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Uncertainty dilutes an oasis: consumer demand wanes despite reforms

Article Abstract:

India's lack of a growing consumer demand is tempering the optimistic outlook for the country's economy. People are delaying key decisions such as purchasing cars or cellular phones. The Indian economy is also hampered by external factors such as the effect of the less costly imports from Asia's devalued economies, and by US economic sanctions after India conducted nuclear tests in May 1998.

Economic Programs, Administration of Economic Programs, Economic policy, Economic development, Consumption (Economics)

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Indian rupee's depreciation may spark inflation, delay currency liberalization

Article Abstract:

Many economic experts agree that the unusually rapid fall of the value of the rupee could lead to massive inflation in the Indian economy. They predicted that the government will be forced to allow increase prices of oil products and other goods, thus causing a sharp increase in inflation from the current 5% to at least 14%. The rupee has slid 14.6% against the US dollar since Sep. 1995.

Forecasts and trends, Inflation (Finance), Rupee (India), Inflation (Economics)

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