The Indian government says it will spend billions of dollars to help farmers and revive the rural economy. As Anjana Pasricha reports from New Delhi, the promise comes ahead of general elections scheduled for next year.

The United States House of Representatives has passed the bipartisan US$152 billion economic stimulus package that gives one-time rebates to United States citizens, US$600 for individuals or US$1,200 for couples plus US$300 for each child.

The PM has outlined his ideas to use the current global financial turbulence as an opportunity to reform and strengthen the world economy.

President Bush and Congressional leaders from both political parties have reached agreement on $150 billion in tax relief in an effort to help stimulate the U.S. economy. The economic stimulus package includes much talked-about tax rebates.

The economic stimulus package, agreed tentatively by the democrats and republicans omits UI and Food Stamp Provisions.

The tiny coastal state of Goa has become the first state in India to rescind the creation of special economic zones - putting it into conflict with the central government and powerful developers across the country. Environmentalists and other opponents argue the zones only enrich land speculators and are of dubious economic value to the public. VOA's Steve Herman has more from Goa.

With the Reserve Bank expected to leave official interest rates on hold at today's monthly meeting, the debate over greater transparency of the Board's deliberations has re-emerged.