Nobody expected the Reserve Bank to cut interest rates in its quarterly monetary policy unveiled on Tuesday. Neither did D. Subbarao spring any surprise. The RBI governor, however, sounded unusually alarmist and helpless, as he sharply slashed the GDP growth forecast for 2012-13 from 7.3% to 6.5% and warned that high inflation was here to stay for many more months. Read more

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Onions are back in news. In just about a week, onion prices have doubled from a level that was already high. Read more

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Nationalist Congress Party Sharad Pawar is worried that the ruling UPA is being increasingly seen as anti-corporate, thanks to a sudden spurt in business scams and the investigations that have followed them. Read more

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Mike Duke, CEO of Walmart Stores, would like us to believe that allowing companies such as his to retail farm produce here will help control food price inflation, which is increasingly becoming a source of discontent among our people. Read more

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These days I am in Kolkata, where the city’s chaotic Pujo traffic has left me spending most of my time with Mahendra — the driver of the cab I have hired. Read more

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