Treasury

That 1999 Time magazine cover is finally catching up with Lawrence Summers. That was the year Summers was celebrated along with Alan Greenspan and Robert Rubin as “The Committee to Save the World” for their free-market solutions to Asia’s financial crisis. The timing always struck Asians as odd, given that they were still picking up the pieces from a meltdown made worse …

MUMBAI: Foreign exchange reserves grew by $1.61 billion to $296.05 billion for the second consecutive week on the back of a rise in the core foreign currency assets. The total reserves had risen by $55.8 million to $293.44 billion in the previous reporting week, according to the RBI data. Foreign currency assets, a major component of the forex reserves, rose …

NEW DELHI: The economy is expected to grow in the range of 7.5% to 8% in the fiscal year ending March 2013, the Prime Minister’s Economic Advisory Council said on Wednesday, but cautioned that the government must unveil steps to repair public finances and rein in subsidies to bring the economy to a high growth path. The council also said …