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India and the US have made significant progress in terms of growing trade in the last three-four years and reducing the trade deficit.
Sitharaman, who is not known to reply to comments made on her twitter handle, instantly choose to respond to drug-maker Biocon Chairman Kiran Mazumdar-Shaw's criticism of lack of fiscal measures to support growth.
The government has been pressing banks to link borrowing rates to an external benchmark to speed up the transmission of rate cuts.
Its demand is unlikely to see government action before this year's sales kick-off but it could help frame government policy on deep discounts.
The banks to be merged are Punjab National Bank (PNB), Oriental Bank and United Bank; Canara Bank and Syndicate Bank; Union Bank, Andhra Bank and Corporation Bank; and Indian Bank and Allahabad Bank.
The rationalisation in tax slabs has been proposed to boost consumption and revive the economy by putting more money in the pockets of the middle-income group.
The cabinet also allowed 100 per cent foreign investment in coal mining and contract manufacturing.
Future Retail said Amazon has agreed to buy a 49 per cent stake in Future Coupons Ltd. Future Coupons owns a 7.3 per cent interest in Future Retail Ltd (FRL).
The CBI has booked NDTV promoters Prannoy Roy and Radhika Roy and others for allegedly violating foreign direct investment (FDI) rules in a 2007-09 investment, a charge denied by the company.
Chidambaram had moved the Supreme Court on Wednesday after his bail plea was rejected by Delhi High Court on Tuesday.