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inflation: India sees inflation abating soon after deploying its 'toolkit'

Indias inflation should abate in the coming months as policymakers are taking every possible step to cool down soaring prices, according to a top Finance Ministry official. “I am very confident that it is a temporary spike and will not sustain,” Finance Secretary TV Somanathan said in an interview in New Delhi Wednesday. “Every instrument in the toolkit is being used to reduce inflation. We will take a medium term view on the future steps.” ....

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China slowdown won't have much impact on India, says Finance Secretary TV Somanathan

India s finance secretary, T.V. Somanathan, has said that the slowing Chinese economy is unlikely to have much of an impact on India s economy, and the government will continue with its capital expenditure push. The Chinese economy is suffering after retail sales, industrial output and investment data came in much lower than expected. Five major brokerages have now cut China s growth forecast for this year. ....

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MC Interview: Growth in small savings significantly high, on track to meet Rs 4.71 lakh crore target, says Fin Secy

TV Somanathan also said that NSSF inflows will not be impacted even if many people shift to the new direct tax regime ....

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Committee on review of pension system for govt employees consulting stakeholders: FinMin

The Finance Secretary-headed committee to review the pension system for government employees is in the process of consulting stakeholders and is yet to finalise its report, the ministry said on Thursday. The ministry in April set up a committee under Finance Secretary T V Somanathan to review the pension scheme for government employees and suggest any changes, if needed, in the light of the existing framework and structure of the National Pension System (NPS). ....

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Sri Lankan envoy meets RBI governor, discusses bilateral economic cooperation

Sri Lankan High Commissioner to India, Milinda Moragoda, met the Reserve Bank of India governor Shaktikanta Das on Wednesday and discussed bilateral economic cooperation. ....

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