India central bank raises rates, warns on food inflation
MUMBAI - India's central bank raised interest rates on Tuesday by 25 basis points, as expected, to clamp down on resurgent inflation, warning higher food prices could become entrenched if steps to boost output are not taken.
Even though the Reserve Bank of India has raised its policy rates seven times since March, it said that the balance of risks had tilted towards stronger inflation and it stood ready to respond if price pressures increased.
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India PM adviser: tight monetary policy needed-report
NEW DELHI - India needs tight monetary policy to prevent food prices from spilling over to the broader economy, a top economic adviser said in a newspaper interview, ahead of a widely expected rate hike on Tuesday.
Chakravarthi Rangarajan, chairman of the prime minister's Economic Advisory Council, forecast headline inflation to ease to around 7 percent by end March, a level that is above the Reserve Bank of India's (RBI) comfort zone of 5-6 percent.
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Will US political strategy succeed in Afghanistan?
WASHINGTON - While the United States has touted military success against the Taliban, officials admit they have made less progress off the battlefield in improving Afghanistan's government and charting its political future.
Critics say the Obama administration lacks a strong political strategy to complement military plans, but officials contend they are making headway in the difficult task of turning a nation shattered by war into a stable democracy.
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Pakistan has 'disastrous year' for human rights in 2010-HRW
ISLAMABAD - Taliban violence and religious extremism grew in Pakistan in 2010, with the government doing little to improve the situation and often making things worse, Human Rights Watch (HRW) said on Monday.
In its World Report 2011, the New York-based rights organisation said militant violence was fostered by the passive acceptance of persecution of religious minorities and had active help from some elements of the intelligence agencies. (Compiled by World Desk Asia, +65 6870-3815)
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