-The Times of India India's space agency Isro bent rules for private firm Devas to sign a deal for multimedia services, projecting a paltry Rs 1,120 crore revenue over a 12-year period that would not even have covered the cost of launching two satellites for the promised service, the Comptroller and Auditor General (CAG) has said.  In a report submitted to Parliament on Tuesday, the official auditor gave the Prime Minister's Office...

Inflation in India rose above expectations in April, making life difficult for the nation's central bank as it tries to revive an economy facing increased stagflation risks. The Reserve Bank of India last month cut its policy rate for the first time in three years to boost sagging growth. But inflation has remained stubbornly high, raising concerns the economy may be facing a nightmare scenario of slowing growth and rising prices. On...

Having watched from the ringside for many years now, I have no doubt in advising that the steering wheel must be firmly grasped by the government and direction given to policies that should be stable for at least the medium term. This is crucial for the growth of Indian pharma, a $20-billion industry growing at an average of 12% considering both domestic and export arenas. Price control: The biggest and most...

-The Hindustan Times The government stocks a fifth of its grain out in the open, left to be washed by the monsoon. As the UPA’s most ambitious welfare programme — food security for poor Indians — is unrolled, more grain will be collected and allowed to rot unless warehouses are built to stock an additional 35 million tonnes beyond the 110 million tonnes of storage we already have, the Planning Commission...

Export Import Bank of India has sanctioned a Libor-linked foreign currency loan to artisans in Bihar for bulk purchases of tasar silk, their raw material. Libor is London inter-bank offer rate which is being used as a benchmark for short term rates in the international capital market. Exim Bank has given the working capital loan for three months to Ecotasar Silk Pvt Ltd, an enterprise manufacturing off-the-loom tasar silk products in...