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June 2007

External debt hits record $155 bn
Livemint - 30 June, 2007
The RBI could do well to maintain an adequate level of reserves in the form of low-return but highly liquid assets for meeting its needs like current account financing, meeting short-term external debt obligations, restraining excessive volatility in the exchange rate, etc., and park the excess reserves in an account with an objective of maximising returns subject to acceptable risks. ...

G-4 wants WTO talks to continue in Geneva
Financial Express - June 26, 2007
Rajiv Kumar, director and chief executive of the Indian Council for Research on International Economic Relations, said “It is a good move to take the discussions beyond the G-4, where a trusting environment did not exist.” …….

When did India move to a new growth path?
Business Standard - June 20, 2007
India's Economic Growth History: Fluctuations, Trends, Break Points and Phases by Arvind Virmani (ICRIER Occasional Paper, January 2005) used data from 1950-2002 and applied a somewhat different methodology.

FDI: IT pips leather, textiles
Business Standard - June 20, 2007
“The sectors that receive more FDI are the ones which are technology intensive. Countries like China and Taiwan produce high volumes at low cost in employment-intensive sectors like textiles, a capability which we do not have. In addition, skill, efficiency and modernisation are also issues with sectors which have low FDI inflows,” says Amitendu Palit, visiting fellow, Indian Council for Research on International Economic Relations.

India's mushrooming black economy
Asia Times - June 5, 2007
According to the New Delhi-based think-tank Indian Council for Research on International Economic Relations (ICRIER), legal businesses controlled by the government, government expenditures and taxes have also been the "major source of black-money creation"...

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