In yet another initiative to uphold the Indian Economy, the Reserve Bank of India on Tuesday contended to operationalise the move to attract foreign currency inflows into the country, by issuing guidelines for Foreign Currency Exchangeable Bonds (FCEB), which will come into effect immediately.
Deputy Chairperson of the Planning Commission Montek Singh Ahluwalia has said that the government is quite hopeful that the inflation rate will come down to the single digits by March next year. He also said that the government is not keen to take excessive harsh measures to rein in the problem as it will have a harmful impact on the economy.
Speaking to media persons, Ahluwalia said, “Inflation is not something which we can bring under control immediately. Fortunately, the tendency of constant increase (inflation) has disappeared.”
Prime Minister, Manmohan Singh asked for all preventive measures to deal with the global financial crisis in US. He said that the Indian domestic banks are almost insulated to the global financial crisis and we don’t need to worry much. He was addressing the meeting of the Cabinet Committee on Economic Affairs (CCEA) in New Delhi. He asked his ministerial colleagues to stay alert on the global financial situation.
Finance minister, P Chidambaram explained the global crisis in US in detail.
For the week ended September 12, India’s foreign exchange reserves climbed up by $650 million to touch $289.461 billion, as compared to $288.811 billion during the previous week.
The recent rise in forex reserves was mainly because of changes in the value of foreign currencies.
According to the central bank’s weekly report, foreign currency assets rose by $676 million during the week to touch $280.302 billion as against $279.626 billion in the last week.
The union cabinet of India took many significant decisions in its recent meeting. It has given its approval, to amend the 1985 enacted, Agricultural and Processed Food Products Export Development Authority (APEDA) Act.
The act was passed to regularize the exports of scheduled farm and processed food products.
The amendments would ease the process of registration of intellectual property and patent rights of some agricultural products. The government would present it in the next session of the parliament.
on Tuesday contended to operationalise the move to attract foreign currency inflows into the country, by issuing guidelines for Foreign Currency Exchangeable Bonds (FCEB), which will come into effect immediately. 
that the government is quite hopeful that the inflation rate will come down to the single digits by March next year. He also said that the government is not keen to take excessive harsh measures to rein in the problem as it will have a harmful impact on the economy.
the global financial crisis in US. He said that the Indian domestic banks are almost insulated to the global financial crisis and we don’t need to worry much. He was addressing the meeting of the Cabinet Committee on Economic Affairs (CCEA) in New Delhi. He asked his ministerial colleagues to stay alert on the global financial situation. 
by $650 million to touch $289.461 billion, as compared to $288.811 billion during the previous week. 
It has given its approval, to amend the 1985 enacted, Agricultural and Processed Food Products Export Development Authority (APEDA) Act. 
