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RBI-030215.jpg India's government and the central bank have agreed on a revamp of the monetary policy framework to place focus on inflation, a historic move for the economy as policymakers gear up for stronger growth momentum in coming years. The agreement, dated February 20, states that the inflation target "for financial year 2016-17 and all subsequent years shall be 4% with a band of plus or minus 2%.

IndianEconomicSurvey-022715.jpg India's government sees room for big bang reforms and robust economic growth in the fiscal year ending March 2016, the Economic Survey 2014-15, released the Finance Ministry, said on Friday. Economic growth is expected to exceed 8 percent in fiscal 2015-16 and, at market prices, the new estimate implies growth of 8.1-8.5 percent in 2015-16, the survey said.

Asian stocks ended a lackluster session mixed on Friday as falling oil prices and mixed U.S. and Japanese economic data kept investors on tenterhooks. Higher-than-expected U.S. inflation numbers, excluding food and energy, and business orders data revived confidence in the world's biggest economy, but...

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