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The fanfare with which Prime Minister Manmohan Singh and Congress president Sonia Gandhi launched a service delivery scheme in Rajasthan based on the Aadhaar (foundation) unique identity (UID), and celebrated the issue of the first Aadhaar number topping the 200 million mark, should make the Indian National Congress a very worried party indeed—assuming it has a good survival instinct and basic grasp of practical politics.

The Reserve Bank of India may have disappointed policy-makers in North Block keenly looking for an immediate interest rate cut to revive investment, but the central bank logically pursues its management of a rising inflation at present while holding out the prospect of policy rate reduction in the fourth quarter (January-March) with likely easing of price pressures.

The Reserve Bank of India has chosen to ignore all expectations of the markets, analysts, forecasters and, more than them all, the finance minister in deciding its monetary policy. Upholding its high independence from the government, keeping its own counsel, the governor, Dr Duvvuri Subbarao, carried on his uncompromising battle with inflation. In this he is like the German central bank.

THIRUVANANTHAPURAM: Congress activists in Kerala are in a celebratory mood. Their sense of jubilation is fully justified, for never before in history has the party in Kerala had it so good in terms of representation in the Union Council of Ministers – eight slots including two of cabinet rank.

The speculation that the cabinet reshuffle will see the rise of Rahul Gandhi’s young brigade has been proved wrong. If anything, the exercise has turned out to be Manmohan Singh’s handiwork, perhaps for the first time, with even Sonia Gandhi taking a back seat.

MANILA, PHILIPPINES – The Asian Development Bank (ADB) today approved a $400 million loan that will help the state of West Bengal in India break a cycle of debt and development spending cuts.

LUCKNOW: Enthused by the successful meeting with the US business delegation in Lucknow recently, Uttar Pradesh Chief Minister Akhilesh Yadav is all set to visit US early next year to bring investment in the state.