Exemption from subsidiary balance sheet attachment where audited consolidated financial statements and mandated disclosures are provided.
The Central Government directs that Section 212 shall not apply to subsidiaries of companies that (i) have board resolution consenting to non attachment of subsidiary balance sheets; (ii) present consolidated financial statements of the holding company and all subsidiaries audited by statutory auditors and prepared in strict compliance with applicable Accounting Standards and listing requirements; (iii) disclose in aggregate for each subsidiary capital, reserves, total assets, total liabilities, investments (except in subsidiaries), turnover, profit before taxation, provision for taxation, profit after taxation and proposed dividend; and (iv) undertake to provide subsidiary annual accounts to any shareholder on demand and maintain inspection facilities, regularly file required data with authorities, and state Indian rupee equivalents of foreign currency figures using the closing exchange rate.

Statutory audit resources provide comprehensive bank audit manuals, checklists and LFAR formats to support branch audits.
A consolidated compilation provides auditors with RBI Master Circulars, a bank branch audit manual, audit program, working papers, checklists for advances, draft engagement letters, LFAR formats, management representation templates and committee recommendations to support planning, execution and documentation of statutory bank branch audits.

Government securities issuance calendar preserves retail access through reserved non-competitive bidding and allows variable-rate issues.
An indicative calendar for April 1 to September 30, 2011 lists periodic auctions with aggregate notified amounts and targeted maturity buckets (5-9, 10-14, 15-19 and 20 year-plus) for dated Government of India securities. Each auction includes a non-competitive bidding scheme reserving five per cent for specified retail investors, and the calendar permits issuance of variable rate securities. The Central Government and the Reserve Bank retain flexibility to modify amounts, periods and maturities with due notice to address financing needs and market conditions.

Treasury bill auction schedule notified with flexibility to modify timing and amounts under existing notification terms.
The Government of India, in consultation with the Reserve Bank of India, has notified the schedule and amounts for auctions of 91 day, 182 day and 364 day Treasury Bills for the quarter ending June 2011, and retains flexibility to modify notified amounts and timing in response to government cash needs, market conditions or intervening events; all auctions are subject to the terms of the General Notification F 2(12)-W&M/97, as amended.

Financial inclusion via branchless banking expands basic services and direct subsidy crediting to rural habitations.
Financial inclusion is directed as a national priority to extend basic banking services to habitations with populations over 2000 using models including branchless banking through Business Correspondents; banks, guided by State Level Banker Committees, have identified approximately 73,000 habitations for allocation to Commercial Banks, Regional Rural Banks and Cooperative Banks under the "Swabhimaan" campaign to provide deposits, withdrawals, remittances and direct crediting of government subsidies into beneficiary accounts.

Systemic risk assessment finds no supervisory gaps requiring immediate regulatory intervention after bank bribery-related scrutiny.
Reserve Bank of India conducted a preliminary scrutiny of selected banks to determine if bribery allegations reflected systemic risk or failures in internal controls and loan sanctioning; the assessment concluded no systemic risk or serious lacunae requiring immediate supervisory or regulatory intervention were revealed.

Foreign Tourist Arrivals growth strengthens, driving higher foreign exchange earnings year on year and for the two month period.
FTAs in February 2011 reached 6.92 lakh (15.1% growth over February 2010) and January-February 2011 FTAs were 12.30 lakh (12.7% growth). FEE in February 2011 were Rs. 7653 crore (US$ 1,684 million) and January-February 2011 FEE were Rs. 13,430 crore (US$ 2,957 million), with stated year on year growth rates compared against 2010 and 2009.

Fiscal consolidation creates space for private investment and inflation control, supporting medium term sustainable inclusive growth.
India's economic policy in early 2011 balances the timing and quality of fiscal adjustment with sustaining high, inclusive growth and inflation control. The Budget advances fiscal consolidation by reducing the fiscal deficit and moderating net market borrowings to create space for private investment and faster public debt consolidation. Supply side measures in agriculture, infrastructure financing via PPPs and liberalised capital inflows, strengthened financial inclusion, and governance reforms are presented as integrated tools to manage inflation, finance development and improve service delivery.

Fiscal consolidation to expand resource space for private investment and foster innovative infrastructure financing and agricultural investment.
The address stresses sustaining higher growth through fiscal consolidation to enlarge resource space for private investment, restoring private investment and savings, and stepping up public and private investment in agriculture to improve supply response and contain inflation. It identifies infrastructure financing as a major challenge requiring innovative models and private participation, and calls for productivity gains in manufacturing via R&D and skill formation to generate employment and enhance competitiveness.

India ASEAN economic partnership advances through a business fair and conclave promoting trade, sector cooperation and investment opportunities.
The India ASEAN Business Fair & Business Conclave 2011 is a five day event jointly organised by the Ministry of Commerce & Industry and FICCI to promote India ASEAN economic engagement, convening Trade and Industry Ministers from ten ASEAN countries and over 500 businesses to facilitate knowledge sharing, sectoral exhibits across industries such as banking, infrastructure, pharmaceuticals and IT, and business sessions on partnership implementation, economic synergies, SME growth, and investment opportunities across Indian states.