President Barack Obama says an effort to change the nation's tax code that is too skewed toward the wealthy has been achieved with the "fiscal cliff" deal approved in Congress.
The president said in an appearance late on Tuesday in the White House that the House vote to prevent a mix of tax increases and spending cuts avoids a problem that could have sent the economy back into recession.
Obama says the deficit is "still too high" and warns that he will not negotiate with Congress over another increase in the nation's debt ceiling.
The House approved Senate-backed legislation preventing middle-class tax increases and spending cuts that technically took effect with the new year. It represented a triumph for Obama after he campaigned for re-election on higher taxes on the wealthy.
Asserting that Rupee is not in 'shambles', Finance Ministry today said the government, RBI and Sebi are alert to the situation and will take actions as warranted.
The rupee today plunged by a whopping 130 paise to hit life-time low of 60 against the US dollar in early trade on the Interbank Foreign Exchange on strong demand for the American currency from banks and importers.
A group of major American business organisations and advocacy groups on Tuesday launched a new alliance against what they allege as India's "discriminatory" economic policies, including intellectual property issues, which they claim hurt US jobs and economy.
IMF has lowered its forecast of Russian GDP growth in 2013 from 3.4 percent to 2.5 percent, head of the IMF mission said.
Malaysian budget carrier AirAsia formally announced the appointment of Subramanian Ramadorai as its non-executive chairman of India operations.
As India's tech hub and Bangalore will get more funds in the new budget for this fiscal (2013-14) to meet its infrastructure needs, Karnataka Chief Minister Siddaramaiah said Tuesday.
Higher prices of foodstuff such as cereals and vegetables continue to put pressure on India's overall inflation rate, the Reserve Bank of India (RBI) said Monday.