Summary

Critics are spreading despair but economy is on track: PM

Strongly defencing his government's handling of the economy, Prime Minister Narendra Modi said here Wedneday that a 'handful of people' were tryng to spread a wave of pessimism and despair based on the slowdown experienced during just a quarter.

Agusta deal middleman held in Italy

Carlo Gerosa, an Italian national who is one of the key accused in the Agusta Westland helicopter deal corruption case, has been arrested in Italy by local authorities, according to official sources.

RBI cuts growth rate to 6.7%, cautions against any fiscal stimulus

The Reserve Bank of India (RBI) Wednesday sharply scaled down India's growth estimates by 60 basis points to 6.7% from 7.3% for 2017-18 and cautioned the government on a fiscal stimulus, saying that such fiscal actions undercut macroeconomic stabiity.

India, Bangla foreign secys to meet, Rohingya issue on table

Bangladesh foreign secretaryy Shahidul Haqur is like to meet Foreign Secretary S jaishankar on Thursday when the Rohingya crisis is expected to be discussed.

Foreign Secretary meets Bhutan king, stresses unique ties

in his first visit since the Doklam crisis was resolved, foreign secretary S Jaishankar has met Bhutan's king Jigme Khesar Namgyel Wangchuck, his father and predeccesor Jigme Singye Wangchuck, Prime Minister Tshering Tobgay and senioor officials and emphasised the 'unique' relationsbetween the two countries which is characterised by 'deep understanding and mutual trust'.

Trump visits Las Vegas, massacre probe turns to gunman's girlfriend

Investigators probing the mass shooting at a Las Vegas concert planned to interview the gunman's girlfriend on Wednesday, a day after she returned to the US from the Phillipines.

US: Pak ISI has won foreign policy, links with terror groups

Pakistan's Intelligence agency ISI has connections with terrorist groups and runs its own foreign polcy, a top US General has said.

Cryptocrackdown

Once a leader in virtual currencies, China turns against them

After noteban, cash intensity has gonwe down

Prime Minister Narendra Modi on Wednesday said the government's demonetisation move has resulted in reducing the use of cash in the economy. With people makng greater use of digital transactions, the cash intensity in the economy has gone down.

Editorial

Waiting for the Cut

One of the most sensible moves by the apex bank Reserve Bank of India is perhaps to keep the key policy unchanged by maintaining a unbiased neutral monetary policy stance. Unlike the predictions, the Reserve Bank hasn't yet raised the rates due to the slowdown on economic growth. According to the apex bank, the loss of momentum of economic growth is a major setback to the economy. The GST regime implemented on 1st July 2017 has an adverse impact on the economy- with mowing down the prospects of the manufacturing sector. It also further delayed any revival chances of investments. With situations like these and inflation on the horizon, lowering the rates is certainly not a good thing to do by the RBI. It now remains on the Government to tackle issues effectively through managing problems that arised out of GST, boosting the already stalled projects and to give a kick to the capital for the banks.

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