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Ratings agency, Moody’s says that India’s persistent high inflation is weighing on the country’s economic recovery and is constraining its sovereign rating.

Ratings agency, Moody’s says that India’s persistent high inflation is weighing on the country’s economic recovery and is constraining its sovereign rating.

The Supreme Court on Monday declared the allocations of all coal blocks from as far back as 1993 and until 2010 as illegal, but stopped short of cancelling them.

US-based economist Arvind Subramanian, who has been critical of the new government for blocking the multilateral trade facilitation agreement as well as for its first Union budget, is likely to be named chief economic adviser to the finance ministry.

Key shifts in consumer behaviour in Asia have resulted in a huge spur in digital banking services. While ATM usage has seen huge growth in the past decade, online purchasing too is witnessing a large number of adopters.

Several mid-size infrastructure companies are looking to raise money through initial public offerings, or IPOs, in the next six to 12 months. At least 10 such companies will raise around Rs 6,000 Crore.

A slowing economy over the last half a decade has hurt demand for steel. Indian steel companies have been forced to run their ship in tight working capital conditions, with a major chunk of customers delaying payments. But, according to the Steel Ministry, steel demand has outstripped supply in the first quarter of this fiscal, boosting profitability of steel majors.

Prime Minister Narendra Modi promised a new India in his Independence Day speech where basic amenities, health and hygiene, security for women and an end of differences on the basis of caste and religion will take the country towards development.

India’s consumer price inflation comes in much lower than street estimates. Shubhada Rao, Chief Economist, Yes Bank, offers her perspective.

Network18 founder, Raghav Bahl, clears the air around Reliance Industries’ takeover of his company. He insists that the takeover wasn’t acrimonious and that Mukesh Ambani’s RIL didn’t interfere with the functioning of the company at all.