Volcker expresses concern over Indian inflation
Mumbai: Former chairman of the US Federal Reserve, Paul Volcker, has voiced concern over India's inflation creeping upwards. He however said the Reserve Bank's monetary response to tackle inflation was on the right track.

Volcker said he disagreed with the Keynesian theory that a small dose of inflation had a multiplier effect on growth. On the contrary, inflation had a multiplier effect in pushing up prices, Volcker noted.

Inflation was dangerous for any country and it needs to be kept under check to maintain growth momentum.
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WTO names Ravi Bangar to head trade, finance working group
New Delhi: India's deputy permanent representative in Geneva, Ravi Bangar, has been named by the World Trade Organisation to head the working group on trade, debt and finance.

The working group would study the inter-play and impact of debt and finance on world trade and submit its report to the WTO General Council, a WTO statement said.
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