Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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</span></span></code>
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;
&lt;br /&gt;
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;
&lt;br /&gt;
Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;
&lt;br /&gt;
However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;
&lt;br /&gt;
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;
&lt;br /&gt;
In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;
&lt;br /&gt;
According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &amp;quot;It has now gone into the negative territory,&amp;quot; said a member, who did not wish to be identified.&lt;br /&gt;
&lt;br /&gt;
What is adding to the problem is the reluctance of the banks to pump funds into the economy. &amp;quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&amp;quot; asked a member, who participated in the deliberations.&lt;br /&gt;
&lt;br /&gt;
Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.
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		&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 7 August, 2012, http://economictimes.indiatimes.com/news/economy/indicators/cutting-fuel-subsidy-can-cause-2-6-spike-in-inflation-rbi-chief-d-subbarao/articleshow/15382183.cms&#039;,
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;&lt;br /&gt;While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;&lt;br /&gt;Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;&lt;br /&gt;&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;&lt;br /&gt;However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;&lt;br /&gt;A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;&lt;br /&gt;In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;&lt;br /&gt;According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &amp;quot;It has now gone into the negative territory,&amp;quot; said a member, who did not wish to be identified.&lt;br /&gt;&lt;br /&gt;What is adding to the problem is the reluctance of the banks to pump funds into the economy. &amp;quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&amp;quot; asked a member, who participated in the deliberations.&lt;br /&gt;&lt;br /&gt;Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.&lt;/div&gt;&#039;,
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;
&lt;br /&gt;
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;
&lt;br /&gt;
Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;
&lt;br /&gt;
However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;
&lt;br /&gt;
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;
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In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
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-The Economic Times

Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the..."/>
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                <strong>Cutting fuel subsidy can cause 2.6% spike in inflation: RBI chief D Subbarao</strong></h1>
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                <div align="justify">-The Economic Times<br /><br />Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.<br /><br />While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.<br /><br />Subbarao, who shared his assessment with Parliament's standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor's approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.<br /><br />&quot;The ideal situation would be a 7% growth and 5% inflation,&quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.<br /><br />However, the government is not completely convinced with the central bank's approach.<br /><br />A recent note from the government to the parliamentary panel expressed its disquiet over the central bank's decision to keep money supply tight. At the meeting of the standing committee, the panel's chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government's fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.<br /><br />In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.<br /><br />According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &quot;It has now gone into the negative territory,&quot; said a member, who did not wish to be identified.<br /><br />What is adding to the problem is the reluctance of the banks to pump funds into the economy. &quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&quot; asked a member, who participated in the deliberations.<br /><br />Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.</div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr680e77e3c90c3-trace').style.display = (document.getElementById('cakeErr680e77e3c90c3-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr680e77e3c90c3-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr680e77e3c90c3-code').style.display = (document.getElementById('cakeErr680e77e3c90c3-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr680e77e3c90c3-context').style.display = (document.getElementById('cakeErr680e77e3c90c3-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr680e77e3c90c3-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;
&lt;br /&gt;
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;
&lt;br /&gt;
Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;
&lt;br /&gt;
However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;
&lt;br /&gt;
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;
&lt;br /&gt;
In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;
&lt;br /&gt;
According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &amp;quot;It has now gone into the negative territory,&amp;quot; said a member, who did not wish to be identified.&lt;br /&gt;
&lt;br /&gt;
What is adding to the problem is the reluctance of the banks to pump funds into the economy. &amp;quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&amp;quot; asked a member, who participated in the deliberations.&lt;br /&gt;
&lt;br /&gt;
Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.
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		&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 7 August, 2012, http://economictimes.indiatimes.com/news/economy/indicators/cutting-fuel-subsidy-can-cause-2-6-spike-in-inflation-rbi-chief-d-subbarao/articleshow/15382183.cms&#039;,
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;&lt;br /&gt;While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;&lt;br /&gt;Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;&lt;br /&gt;&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;&lt;br /&gt;However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;&lt;br /&gt;A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;&lt;br /&gt;In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;&lt;br /&gt;According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &amp;quot;It has now gone into the negative territory,&amp;quot; said a member, who did not wish to be identified.&lt;br /&gt;&lt;br /&gt;What is adding to the problem is the reluctance of the banks to pump funds into the economy. &amp;quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&amp;quot; asked a member, who participated in the deliberations.&lt;br /&gt;&lt;br /&gt;Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.&lt;/div&gt;&#039;,
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;
&lt;br /&gt;
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;
&lt;br /&gt;
Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;
&lt;br /&gt;
However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;
&lt;br /&gt;
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;
&lt;br /&gt;
In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
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&lt;br /&gt;
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the..."/>
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                <strong>Cutting fuel subsidy can cause 2.6% spike in inflation: RBI chief D Subbarao</strong></h1>
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                <div align="justify">-The Economic Times<br /><br />Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.<br /><br />While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.<br /><br />Subbarao, who shared his assessment with Parliament's standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor's approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.<br /><br />&quot;The ideal situation would be a 7% growth and 5% inflation,&quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.<br /><br />However, the government is not completely convinced with the central bank's approach.<br /><br />A recent note from the government to the parliamentary panel expressed its disquiet over the central bank's decision to keep money supply tight. At the meeting of the standing committee, the panel's chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government's fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.<br /><br />In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.<br /><br />According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &quot;It has now gone into the negative territory,&quot; said a member, who did not wish to be identified.<br /><br />What is adding to the problem is the reluctance of the banks to pump funds into the economy. &quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&quot; asked a member, who participated in the deliberations.<br /><br />Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.</div>               </font>
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;
&lt;br /&gt;
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;
&lt;br /&gt;
Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;
&lt;br /&gt;
&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;
&lt;br /&gt;
However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;
&lt;br /&gt;
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;
&lt;br /&gt;
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Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;&lt;br /&gt;While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;&lt;br /&gt;Subbarao, who shared his assessment with Parliament&#039;s standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor&#039;s approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.&lt;br /&gt;&lt;br /&gt;&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;&lt;br /&gt;However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;&lt;br /&gt;A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;&lt;br /&gt;In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;&lt;br /&gt;According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &amp;quot;It has now gone into the negative territory,&amp;quot; said a member, who did not wish to be identified.&lt;br /&gt;&lt;br /&gt;What is adding to the problem is the reluctance of the banks to pump funds into the economy. &amp;quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&amp;quot; asked a member, who participated in the deliberations.&lt;br /&gt;&lt;br /&gt;Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.&lt;/div&gt;&#039;,
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.&lt;br /&gt;
&lt;br /&gt;
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.&lt;br /&gt;
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&lt;br /&gt;
&amp;quot;The ideal situation would be a 7% growth and 5% inflation,&amp;quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.&lt;br /&gt;
&lt;br /&gt;
However, the government is not completely convinced with the central bank&#039;s approach.&lt;br /&gt;
&lt;br /&gt;
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank&#039;s decision to keep money supply tight. At the meeting of the standing committee, the panel&#039;s chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government&#039;s fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.&lt;br /&gt;
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In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.&lt;br /&gt;
&lt;br /&gt;
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-The Economic Times

Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the...&#039;
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-The Economic Times

Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the..."/>
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                <strong>Cutting fuel subsidy can cause 2.6% spike in inflation: RBI chief D Subbarao</strong></h1>
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                <div align="justify">-The Economic Times<br /><br />Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.<br /><br />While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.<br /><br />Subbarao, who shared his assessment with Parliament's standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor's approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.<br /><br />&quot;The ideal situation would be a 7% growth and 5% inflation,&quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.<br /><br />However, the government is not completely convinced with the central bank's approach.<br /><br />A recent note from the government to the parliamentary panel expressed its disquiet over the central bank's decision to keep money supply tight. At the meeting of the standing committee, the panel's chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government's fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.<br /><br />In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.<br /><br />According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &quot;It has now gone into the negative territory,&quot; said a member, who did not wish to be identified.<br /><br />What is adding to the problem is the reluctance of the banks to pump funds into the economy. &quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&quot; asked a member, who participated in the deliberations.<br /><br />Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.</div>               </font>
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-The Economic Times<br />
<br />
Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.<br />
<br />
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.<br />
<br />
Subbarao, who shared his assessment with Parliament's standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor's approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.<br />
<br />
&quot;The ideal situation would be a 7% growth and 5% inflation,&quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.<br />
<br />
However, the government is not completely convinced with the central bank's approach.<br />
<br />
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank's decision to keep money supply tight. At the meeting of the standing committee, the panel's chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government's fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.<br />
<br />
In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.<br />
<br />
According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &quot;It has now gone into the negative territory,&quot; said a member, who did not wish to be identified.<br />
<br />
What is adding to the problem is the reluctance of the banks to pump funds into the economy. &quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&quot; asked a member, who participated in the deliberations.<br />
<br />
Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.
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-The Economic Times<br />
<br />
Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet.<br />
<br />
While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy.<br />
<br />
Subbarao, who shared his assessment with Parliament's standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor's approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth.<br />
<br />
&quot;The ideal situation would be a 7% growth and 5% inflation,&quot; the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise.<br />
<br />
However, the government is not completely convinced with the central bank's approach.<br />
<br />
A recent note from the government to the parliamentary panel expressed its disquiet over the central bank's decision to keep money supply tight. At the meeting of the standing committee, the panel's chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government's fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%.<br />
<br />
In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government.<br />
<br />
According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. &quot;It has now gone into the negative territory,&quot; said a member, who did not wish to be identified.<br />
<br />
What is adding to the problem is the reluctance of the banks to pump funds into the economy. &quot;The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors,&quot; asked a member, who participated in the deliberations.<br />
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Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the...'
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Cutting fuel subsidy can cause 2.6% spike in inflation: RBI chief D Subbarao

-The Economic Times Reserve Bank of India Governor D Subbarao has said the proposed elimination of fuel subsidy can lead to a massive 2.6% spike in inflation, an assessment that makes it even more difficult for the government to bite the bullet. While a hike in diesel and cooking gas prices may be long overdue, the government is hard-pressed to contain inflation ahead of crucial assembly polls in Gujarat and Himachal Pradesh later this year. A hike in the price of diesel, which is used as fuel for transporting goods, immediately leads to a spiral in the wider economy. Subbarao, who shared his assessment with Parliament's standing committee on finance on Monday, pitched for a healthy single-digit growth coupled with low inflation. The RBI governor's approach was in stark contrast to the former economic advisor to the government, Kaushik Basu, who has said that the country can settle for an 11% inflation in the event of 10% growth. "The ideal situation would be a 7% growth and 5% inflation," the RBI governor told the panel, as he appeared to emphasise on the need to contain price rise. However, the government is not completely convinced with the central bank's approach. A recent note from the government to the parliamentary panel expressed its disquiet over the central bank's decision to keep money supply tight. At the meeting of the standing committee, the panel's chairman, Yashwant Sinha, said there was a difference in the approach of the government and RBI. The high subsidy bill and lower tax revenue have resulted in the government's fiscal projections for 2011-12 going awry. The fiscal deficit during the fiscal was 5.8%, wider than the initial target of 4.6%. In his presentation before the panel, Subbarao said that while liquidity was not an issue there was lack of appetite for investment. He agreed that deficient monsoon, high fiscal deficit, food inflation, suppressed inflation and rising global commodity prices posed a major challenge to the government. According to a member of the standing committee, the governor conceded that there was a sharp decline in investments. "It has now gone into the negative territory," said a member, who did not wish to be identified. What is adding to the problem is the reluctance of the banks to pump funds into the economy. "The banks have large exposures in depressed sectors such as power, fertiliser, civil aviation and real estate. How long can the banks go on extending loans to these sectors," asked a member, who participated in the deliberations. Members of the opposition parties on the panel said the risk-averse approach of the banks was hurting critical sectors that require large investments.