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Reserve Bank of India Governor Raghuram Rajan said the
IIP and the CPI numbers were surprising, and the central bank would have to
look at the details and then frame its policies.
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Pointing out that he would not like to give quick
reactions without going into “the details of what went into it,’’ the
central bank chief said, “We will wait for the WPI numbers, which are
expected next week, but certainly the CPI is higher than the market
expectation.”
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He, however, emphasised that no single piece of data
would determine RBI’s policies, adding that while the IIP surprised on the
downside, CPI surprised on the upside.
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“Clearly, growth is weaker than we would like, and
inflation is higher than what we would like. In a situation like this, we
have to calibrate our policies and make trade-offs based on all available
data,” he said.
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The U.S. health regulator has approved the generic
versions of Eli Lilly & Company’s Cymbalta, a drug to treat depression,
paving the way for various Indian pharmaceutical companies to launch their
products in the U.S. market.
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“The U.S. Food and Drug Administration today approved the
first generic versions of Cymbalta (duloxetine delayed-release capsules), a
prescription medicine used to treat depression and other conditions,” the
USFDA said in a statement.
