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The Indian Prime Minister said last week that India will have to brace for some “tough economic decisions” to improve its financial health.
Investment in India’s domestic exploration and production has been deterred by the previous government keeping prices below global market levels.
Official government figures released yesterday revealed the widest trade deficit in ten months, $11.2 billion in May.
A bus ferrying the Russian tourists to a holy Hindu site of Gangotri fell off the road and plunged into a river in in the northern Indian state of Uttarakhand.
China and India are both pursuing the great dream of national renewal, said Chinese Foreign Minister Wang Yi.
Since assuming power, the new Chinese President Xi Jinping has sent clear signals of boosting bilateral relations with India.
Indian minister for Home Affairs Rajnath Singh has said last week he would increase Indian forces on the China-India border.
Naxalism or widespread leftwing extremism and political violence has gripped vast swathes of land in central and eastern India.
The new government is expected to unveil a new budget by early July.
The new Prime Minister needs to rapidly carry out pending labour, fiscal and tax reforms for a faster economic revival.
