FM Arun Jaitley announces measures to stabilise rupee
Finance Minister Arun Jaitley on Friday announced a series of measures to curb widening current account deficit and stabilise the rupee, which has declined 11.5% this year. Jaitley said the government plans to take measures to reduce "non-essential" imports and ease overseas borrowing rules for manufacturing sector. The rupee's decline comes amid higher oil prices and an emerging markets sell-off.