A high-powered Indian commerce delegation would visit Beijing next week for talks with Chinese officials to discuss initiatives to broaden market access for Indian products in China and address New Delhi's concerns over the ballooning trade deficit.

Amid the rupee touching nearly 9-month low against the US dollar, Reserve Bank of India (RBI) on Friday said it will continue to take steps to check excessive volatility in the currency market.

The Direct Taxes Code (DTC) Bill, which aims to overhaul the over 50-year-old I-T Act, is almost ready and will be taken up in the Monsoon session of Parliament, Finance Minister P Chidambaram said on Friday.

The rupee on Friday weakened further by 10 paise to 55.69 against the dollar in morning trade on the Interbank Foreign Exchange due to appreciation of the US currency overseas.

A day after agreeing to dole out a record Rs 100,000 crore in fuel subsidy for 2012-13, Finance Minister P Chidambaram on Thursday said cash payouts to oil firms this fiscal will be just Rs 20,000 crore.

A day after agreeing to dole out a record Rs 100,000 crore in fuel subsidy for 2012-13, Finance Minister P Chidambaram on Thursday said cash payouts to oil firms this fiscal will be just Rs 20,000 crore.

Detailing economic growth during the UPA regime, Prime Minister Manmohan Singh said the slowdown last year was "temporary" and a longer term view would show that India has notched up an average "8 percent growth" in the past nine years.

Investors have put in more than Rs 76,000 crore in various mutual funds in 2012-13 after pulling out money from such schemes in the preceding two years.

The rupee on Thursday declined by a hefty 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market on sustained dollar demand and strengthening of the US currency overseas.

The rupee on Wednesday recovered marginally by 6 paise to 55.35 against dollar at the Interbank Foreign Exchange on fresh selling of the US currency by exporters.