India raises interest rates

From : www.newspapers2u.com
The Reserve Bank of India said in a statement that inflation had reached "uncomfortable levels" and increased the repo rate at which it lends to commercial banks by 25 basis points to 7.5 percent.The reverse repo rate at which the central bank pays commercial banks for deposits was raised to 6.5 percent.These measures come as government data this week showed Indian's inflation climbed to a higher-than-expected 9.06 percent in May from a year earlier, driven mainly by an increase in prices of manufactured goods.But the central bank's previous rate hikes have made little difference in the cost of living in India."If India is to grow in a fast pace then demand must increase and an approach for controlling demand by hiking interest rates will not exactly increase the growth rate or the development of this economy," economic adviser to the Federation of Indian Chamber of Commerce and Industry Anjan Roy said.India now has the highest inflation rate of any large Asian economy.Analysts say the government's priority is to tame inflation even if its at the expense of economic growth.Reserve Bank Governor Duvvuri Subbarao said in a statement last month that bringing the current elevated rates down should "take precedence even at the cost of some growth in the short run.""Inflation is a very important factor in India, in fact the fortunes of governments depend on the course of inflation particularly food items, so it is predictable that the RBI will take this course," Roy said "but to be honest inflation in India has proven to be insensitive to interest rate hikes. Inflation is going up and interest rates are going up."Roy said the Indian government must now take a supply side management approach to curb rising prices.Asia's third largest economy grew 7.8 percent from January to March, the slowest pace in five quarters.Analysts say the slower growth is making it harder for the second-fastest-growing major economy in the world to pull hundreds of millions of people out of poverty.


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Get Rid of Jealousy

Jealousy justified its presence and suspicions. It was there to protect me.
I am ashamed to admit this but I used to have the green-eyed monster tailing me wherever I went. It was my shadow and my other half.

Jealousy kept telling me what I should be doing and feeling. It even told me what my partner was up to and how he should be behaving and feeling toward me.
Did I believe jealousy? You bet I did. That went on for years until I learnt a few painful lessons and decided that it should go and leave me alone for good. That happened too late though.
My suspicions when jealousy set in cost me broken relationships, distress and a deep plunge in my self-esteem and worthiness.
Having gone through what I did, I have a few points here to assist you from allowing jealousy to ruin your life.
The first thing to do is to simply make a decision to get rid of that feeling. That means telling yourself that you have had it with the attitude of being suspicious, distrusting and possessive.
Next start saying different things to yourself. Jealousy is going to remind you that if you focus on other things, your partner may abandon you. Tell it firmly that you are in control and you want to choose your own thoughts.
Have respect for yourself. If your partner abandons you, put your hurt behind and start life over. If he actually cheats on you, he is not worth your time and effort. Your life will continue to evolve no matter what happens, if you decide to make it so.
Learn how to trust and expect good things to happen. One of the reasons why we suffer is because we unconsciously expect bad things to happen. Develop faith and confidence in your relationships. It promotes better understanding, avoids stress and gives you a peace of mind.
Learn how to communicate effectively. One great tip, don’t nag. Here’s another, don’t bring out old issues and mistakes. Both irritate and put a stop for further constructive conversations.
Learn to listen without interrupting, judging and probing. Allow him to talk and finish his sentences. If you must ask, do it with the intent to seek understanding. He can tell from your words, gestures and body language if you are sincere.
Now the last but most important thing is to learn to love everyone including yourself unconditionally. No stringsFeature Articles, no bargains and no threats