Indicating a new-found determination to stay the course on politically sensitive reform measures, Prime Minister Manmohan Singh not only defended the recent decontrol of petrol prices but also said diesel rates would also be freed of government control. In comments while returning from the G20 summit in Toronto, the PM seemed to be in an assertive mood despite the Opposition calling a bandh to protest fuel price hikes. "The fact...

India’s food and fuel price inflation eased in early June, easing pressure on Reserve Bank of India (RBI) to speed up its process of tightening monetary policy. India’s food price index rose 16.12% in the year to 5 June, snapping a two-week rise, and lower than the previous week’s annual reading of 16.74%, government data released on Thursday showed. The fuel price index climbed 13.18%, compared with an annual rise of 14.23%...