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- RBI rate hike will not affect India's growth
New Delhi, July 27: Just after India's Central Bank announced its decision to raise short-term key rates, Finance Minister Pranab Mukherjee made it clear that the Reserve Bank of India'....
- Jharkhand, Bihar developing like Congo, Kerala like Indonesia
New Delhi, July 27: When it is said that India is made up of different nations it cannot be called an overstatement. This is indeed reflected from a comparison of developmental statistics that ....
- Must cut dependence on debt, reduce subsidies: PM
New Delhi, July 24: Prime Minister Manmohan Singh today said the country needed to cut down on its dependence on debt to finance its developmental programmes and find ways to reduce the current....
- Inflation will ease but India missing targets: PM
New Delhi, July 24: Hoping for a good rainfall in the current monsoon season, Prime Minister Manmohan Singh today said it will help ease the inflation rate to 6 percent in the second half of th....
- Targets not met, but current plan growth better than ever: PM
New Delhi, July 24: Prime Minister Manmohan Singh today said though the country had fallen short of targets under the current five year plan, the overall projected average growth of 8.1 percent....
- India capable of 10 percent growth: Bureaucrats
New Delhi, July 20:India can deliver a 10 percent growth provided the farm output touches four percent annually and industry and services grow in double digits, top bureaucrats said here today ....
- India targets double digit growth in 2012
Washington, June 22: India has set an ambitious target of making 2012 the year of double digit growth even as it grapples with the twin problems of mounting deficit and rising inflation.
- 10 percent growth for decade will minimise poverty: Godrej
Panaji, June 20: A consistent 10 percent Gross Domestic Product (GDP) growth spread over a decade will greatly reduce poverty in India, says leading industrialist Jamshyd Godrej. "A 10 perc....
- Prices remain high but India's food inflation drops a tad
New Delhi, June 17: India's annual food inflation fell slightly to 16.12 percent for the week ended on June 5 from 16.55 percent for the week before even as prices of milk, lentils and some....
- Pranab optimistic of achieving 8.5 percent growth
Ahmedabad, June 16: Finance Minister Pranab Mukherjee today said he was optimistic of achieving the targeted growth of 8.5 percent if a good monsoon this year supplements the improving Indian e....
- Eastern, Northeastern states demand better credit flow
Patna, June 14: Eastern and Northeastern states at a meeting with Finance Minister Pranab Mukharjee here today demanded accelerated flow of credit to unlock their development potential and fast....
- India could reach double digit growth by 2012: Pranab
Kolkata, June 12: India could reach double digit growth in the remaining two years of the 11th Five Year Plan if the present trend of growth continued, Finance Minister Pranab Mukherjee said he....
- India's industrial production surges 17.6 percent
New Delhi, June 11: India's industrial output rose for the seventh straight month in April at 17.6 percent from a year earlier due to higher spending on infrastructure and improved exports,....
- Fuel prices in India may rise Rs.3.50 per litre
New Delhi, June 6: Transport fuel prices in India may rise by up to Rs.3.50 per litre if an empowered group led by Finance Minister Pranab Mukherjee decides on Monday to permit state-run oil re....
- No need to tax banks to create bailout fund: Pranab
New Delhi, June 4: India today said it does not favour taxing banks to create a corpus for future bailouts and stressed the importance of well-placed regulations to detect and contain any devia....
- Economic highlights of UPA's second tenure
New Delhi, June 1: The following are the economic highlights of the United Progressive Alliance (UPA) government's second tenure under Prime Minister Manmohan Singh, as spelt out in the 68-....
- India grows 8.6 percent in fourth quarter
New Delhi, May 31: The Indian economy grew by 8.6 percent during the quarter ended on March 31 while the gross domestic product for entire 2009-10 rose at a rate of 7.4 percent, according to of....
- Pranab unveils income tax returns data centre in Bangalore
Bangalore, May 29: Finance Minister Pranab Mukherjee today unveiled the centralised processing centre (CPC) of the income tax department in this tech hub to enable faster refunds to tax payers.....
- India Inc lauds PM's inclusive growth agenda
New Delhi, May 24: India Inc today lauded Prime Minister Manmohan Singh's strategy for inclusive growth and to rein in inflation.
"FICCI is fully in agreement with the prime m....
- India has a medium-term growth target of 10 percent: Manmohan Singh
New Delhi, May 24: Putting inclusive economic growth on top of United Progressive Alliance's (UPA) agenda, Prime Minister Manmohan Singh today said his government has set an "achievable....
- Life in India to get more expensive after rise in gas prices
New Delhi, May 20: Looks like things are going to get even pricier in India after the central government has raised the prices of state owned gas in Mumbai and Delhi by more than two times. Hou....
- Highlights of infrastructure targets for fiscal 2010-11
New Delhi, May 17: Following are the highlights of the annual infrastructure upgradation targets set by the Planning Commission today:
India to add 20,359 MW to current capacity of po....
- Government taking steps for sustained growth: Sharma
New Delhi, May 14: The Indian government is taking all necessary steps to create a conducive environment which would help sustain the industrial recovery and growth momentum of the economy, Com....
- Major food commodity prices steady: Government
New Delhi, May 14: The prices of wheat, rice and sugar have remained steady at the weekend at most of the reporting centres where rates are monitored by the consumer affairs department, the gov....
- India making efforts to bring back CEPA with Sri Lanka
New Delhi, May 13: Following the conclusion of the election procedures in Sri Lanka and with the Rajapaksa government firmly in control of affairs, India is making its best efforts to resuscita....
- Further fiscal deficit is unsustainable: Finance Ministry
New Delhi, April 30: The Union Finance Minister of India, Pranab Mukherjee has said that India would not be able to sustain any further deficits in the budget for the ongoing fiscal. He has als....
- 'Continue stimulus packages for some time'
Kolkata, April 24: The monetary and fiscal stimulus packages should continue till there are signs that private demand has revived, India's chief statistician Pronab Sen said here today.
- India's fuel subsidies don't help poor, says expert
Washington, April 23: India's fuel subsidies don't actually help poor households but instead benefit those who can afford to own vehicles and electrical appliances, according to a leadi....
- Growth without equity is meaningless: Prime Minister
New Delhi, April 21: Prime Minister Manmohan Singh said today the Indian economy would grow at 8.25 percent in the current fiscal, but this will have little meaning unless there is equitable gr....
- India could be the second biggest economy by 2039: Centennial Group and Emerging Markets Forum
Vadodara, April 16: The CEO of the Centennial Group and Emerging Markets Forum, Harinder Kohli, has stated that by 2039 India should become the second major world economy.
He made th....
- Pranab hopes growth rate will climb back in 2011
Kolkata: Hoping that India's growth rate would climb back to between 8.25 and 8.75 percent in 2011, Finance Minister Pranab Mukherjee today indicated that the government might withdraw some....
- No plans to dilute powers of regulators: Pranab
Kolkata: Finance Minister Pranab Mukherjee today said the government would not dilute the powers of the regulators, who are doing a good job in the current economic situation.
Referri....
- Government not concerned over rupee gain against dollar
New Delhi: The government today said it was not concerned over the rupee gaining against the US dollar and would prefer to wait and watch as the situation is fluid now.
"The situa....
- India market soars for business jet makers
New Delhi: With the number of billionaires and high net worth individuals in India growing, business jet makers are intensifying efforts to sell their aircraft in India which industry sources s....
- Economic growth needs momentum: Pranab
Shillong: Finance Minister Pranab Mukherjee today called for imparting a fresh momentum to the impressive economic recovery witnessed in the past few months and take the country on the path of ....
- 'India's economic dynamism opens door for UAE firms'
Dubai: The economic dynamism of India opens door for the investors from United Arab Emirates, Dubai Export Development Coroporation chief Saed Al Awadi said today.
"India is curre....
- Economic centre of gravity shifting to Asia: Mukesh Ambani
Bangalore: The economic centre of gravity is slowly shifting to Asia and the 21st century is poised to become an Indian century, Reliance Industries chairman Mukesh Ambani said on Monday.
<....
- India is well placed to achieve high growth: Mukherjee
Chandigarh: Finance Minister Pranab Mukherjee today said India had recovered from the global financial meltdown and the economy was in far better shape than it was a year ago to clock high grow....
- Another 10 percent people will be lifted out of poverty: PM
New Delhi: Prime Minister Manmohan Singh today promised a further cut of 10 percent in the number of people living below the poverty line as the government's policies designed at high but i....
- India to grow 8.5 percent next fiscal: Manmohan Singh
New Delhi: The Indian economy will grow at 8.5 percent during the next fiscal, even as the government will do everything possible to ensure a mid-term target of 10 percent annual expansion, Pri....
- Kamal Nath to seek Canadian investment, meet Indian-born 'Warren Buffet'
Toronto: India will woo Canadian investment in its infrastructure during the four-day visit of Minister for Road Transport and Highways Kamal Nath to Canada from March 23.
During his ....
- IMF forecasts 8 percent growth for India
Washington: In an upbeat assessment of India's growth outlook, the International Monetary Fund (IMF) forecast India's economic growth to accelerate to 8 percent in 2010-11 from 6.75 per....
- Inflation could be in double digit in March: Mukherjee
New Delhi: Finance Minister Pranab Mukherjee on Tuesday said that there could be a double-digit inflation in March. 'I will not be surprised if we have a double-digit inflation by March. We....
- India's GDP will be around 8.2 percent in 2010-11
Kolkata: India's gross domestic product (GDP) would be around 8.2 percent next fiscal, Chairman of the Prime Minister's Economic Advisory Council C. Rangarajan said today.
....
- Full convertibility of rupee only gradually: Mukherjee
New Delhi: Finance Minister Pranab Mukherjee today said the government was taking necessary steps to gradually move towards full convertibility of the Indian rupee.
"Full converti....
- Economic growth to exceed 8 percent next fiscal: PM
New Delhi: Prime Minister Manmohan Singh today said the government was taking all possible steps to counter rising food prices and added that he was confident India's economic growth would ....
- Salary hikes in India to be the maximum in the Asia-Pacific region
New Delhi: In an encouraging sign for Indian economy as well as for the professionals double digit salary raises could be coming back in vogue. It is being assumed by India Inc that the employe....
- Growth will pick up by this fiscal end, says Pranab
New Delhi: Finance Minister Pranab Mukherjee today said that economic growth would pick up in the last quarter of this fiscal and the dip in the third quarter was because of the steep fall in a....
- Six core sectors grew by 9.4 percent in January
New Delhi: Key sectors of the economy grew 9.4 percent in January against 6 percent the previous month, official data released today said.
According to the data released by the commer....
- India to grow 7.5 percent this fiscal: President
New Delhi: President Pratibha Patil today kicked off the budget session of parliament on a positive note, saying the country not only faced the global financial crisis with strong policies but ....
- Highlights of economic review by PM's council
New Delhi: Following are the highlights of a review of the Indian economy conducted by the Prime Minister's Economic Advisory Council headed by C. Rangarajan:
- India's growth....
- 'Karma shapes consumer satisfaction in India'
Washington: The concept of 'karma' shapes consumer satisfaction in India, suggests a new study. It says it is important for companies to understand cultural differences between markets ....
- Government to look at stimulus for weak export sectors in April
New Delhi: The government today said it would take a call after the budget on providing a stimulus package for various export commodities which continued to fare poorly.
"We will ....
- India, EU free trade pact by end 2010: Envoy
Chennai: A far-reaching free trade agreement will be "ready to be signed" between India and the European Union by the end of this year even as child labour and intellectual property rig....
- Government discusses Finance Commission recommendations
New Delhi: The union cabinet today discussed the recommendations of 13th Finance Commission on how economic relations between the centre and states should be structured for the next five years.....
- Finance minister can approve bigger foreign direct investments now
New Delhi: The finance minister can now approve foreign direct investment (FDI) proposals up to Rs.1,200 crore (Rs.12 billion/$), and only bigger proposals will have to go to the Cabinet Commit....
- 34 million more people became poor in India in 2009
New Delhi: It would be wrong to assume that India was not affected by the global financial downturn that changed the dynamics of world economy in the 2008-09 fiscal. If reports from the United ....
- PayPal halts payments to India
San Francisco: Online payments' service Paypal has halted personal payments to India following new government regulations that were designed to crack down on money laundering.
Pay....
- Economy will grow 7.5 percent this fiscal: Anand Sharma
New Delhi: Commerce Minister Anand Sharma today hoped the Indian economy would grow 7.5 percent in the current fiscal.
"Hopefully, we will grow at about 7.5 percent this year. Our....
- India predicts economic growth at 7.2 percent for 2009-10
New Delhi: India today forecast its economic growth for this fiscal at 7.2 percent, as against 6.7 percent achieved in the previous fiscal, despite a 0.2 percent declined predicted in farm outp....
- Growth constitutes just 3 percent of planning: Ahluwalia
New Delhi: Growth constitutes just three percent of planning, which should be part of an inclusive process where the voices of many should be heard, Planning Commission Deputy Chairman Montek S....
- Indian economic growth good for Australian exporters
Melbourne: Australian mineral exporters may benefit as the Indian economy "looks likely to continue to expand at a relative rapid pace in coming decades", the Reserve Bank of Australia ....
- India will grow at 8 percent in 2010-2011, IMF predicts
Washington: Noting that India's economy is one of the first in the world to recover after the global financial crisis, the International Monetary Fund (IMF) on Wednesday predicted that Indi....
- IMF asks out of woods India to go for financial sector reforms
Washington: Noting that India's rapid recovery from the global financial crisis has brought fiscal and monetary policy trade-offs to a head earlier than in other countries, IMF has suggeste....
- India pitches for more Gulf FDI
New Delhi: Calling for better regulation to check economic imbalances and reform of international financial institutions, India made a strong pitch today to woo foreign investment from Gulf cou....
- Withdrawing stimulus could be delayed: Chief statistician
New Delhi: Though India's industrial recovery is well on track, the government could delay withdrawing stimulus measures, the country's chief statistician said here today.
....
- Mutual funds body not to launch transaction platform
Kolkata: Association of Mutual Funds in India (AMFI) will not launch its own mutual funds transaction platform, industry body chairman A.P. Kurian said here today.
"For the last t....
- Indian economy will grow 7.5 percent but with high inflation: RBI
Mumbai: The Reserve Bank of India (RBI) today projected an impressive 7.5 percent growth for the Indian economy in the current fiscal even as it hiked the outlook for annual inflation rate to 8....
- India's growth not inclusive enough to tackle poverty: UN
New Delhi: India's high growth has helped upgrade the living standards of its people, but is not sufficiently broadbased to reduce poverty in absolute levels, says a report of a UN agency r....
- India on course to 9 percent growth rate: Montek Singh
London: India is on course to notching up a rapidly rising trajectory of economic growth despite the global economic crisis, returning to a healthy nine percent by 2011-2012, Planning Commissio....
- India to grow 7.7 percent as global recovery picks pace: IMF
Washington: With the global recovery off to a stronger start, Indian economy is projected to grow at 7.7 percent in 2010, 1.3 percentage points higher than forecast earlier, the International M....
- 'India can do more to attract foreign direct investment'
Chennai: Urging further economic reforms by India to attract more foreign direct investment (FDI), speakers at the 16th edition of the Partnership Summit 2010 today said the flow of investments....
- India will grow in uneven manner, says US strategic think tank
Washington: Calling India a "a country of endless unrealised potential," a strategic think tank has suggested that in the 2010s it "will grow, but in a wildly unpredictable and unev....
- Move towards renewable energy a must: Pachauri
New Delhi: For the sake of economics, energy security and the environment, a move towards renewable energy is a must, head of The Energy and Resources Institute (TERI) Rajendra Pachauri said he....
- Amid slow global recovery, India to grow 7.5 percent in 2010
Washington: India is expected to grow at 7.5 percent this year, up from 6 percent in 2008, even as the global economic recovery that is underway slows later this year as the impact of fiscal st....
- India is way down 124th in economic freedom
Washington: With an economic freedom score of 53.8, India has been rated the 124th freest economy in the world, according to the 16th annual Index of Economic Freedom, released by The Heritage ....
- 'North Eastern states most environmentally sustainable'
Chennai: The northeastern states of Arunachal Pradesh, Nagaland, Manipur, Mizoram and Sikkim, along with Uttarakhand, have been rated the highest on the environment sustainable index (ESI), dev....
- ITC signs up Soha Ali, Yuvraj as brand ambassadors
Kolkata: Diversified group ITC has signed up Bollywood actress Soha Ali Khan and cricketer Yuvraj Singh as brand ambassadors for its education and stationery products brand Classmate, the compa....
- Rs.10 trillion investment in food processing by 2015: Sahay
Kolkata: The central government plans an investment of Rs.1 lakh crore (Rs.10 trillion), including from the private sector, in the food processing sector by 2015, union Food Processing Minister....
- India to raise scientific R&D spend to 2 percent of GDP
New Delhi: India today unveiled for its diaspora its 21st century scientific vision, saying it intended to raise its spend on R&d to two percent of its GDP and focus on five critical areas,....
- South Korean trade pact with India going into effect
Seoul: An India-South Korea trade agreement going into effect on Friday would immediately eliminate tariffs on 7,044 goods traded between Asia's third and fourth-largest economies.
....
- Credit growth likely to be 15-20 percent: RBI deputy governor
Hyderabad: The Reserve Bank of India (RBI) hopes that the credit growth will be between 15 to 20 percent during the current financial year and said the hike in interest rates would depend on th....
- Liquidity not pushing up food prices, says Pranab
Kolkata: Union Finance Minister Pranab Mukherjee today said liquidity in the system is not responsible for driving up inflation, specially the rise in food prices.
"We have discus....
- India's decade could pave way for an Indian century: Wall Street Journal
Washington: Calling it "The Decade That Was India's", a leading US daily says India's ability to make the success of the last 10 years the norm across regions and industries, &#....
- Forward trading main cause for high food inflation: Dasgupta
Kolkata: West Bengal Finance Minister Asim Dasgupta today said forward trading and relaxation of Essential Commodities Act were the key causes of the current spell of price rise, that has seen ....
- Montek admits food prices have soared 'excessively'
Kolkata: Food prices have soared "excessively", Planning Commission Deputy Chairman Montek Singh Ahluwalia said today, adding the prices would decline in January.
"In Janu....
- Divestment money to be used for capital expenditure
Kolkata: The central government today said it will use the proceeds from divestment of public sector undertakings in capital investment for the next three years, an official said.
The....
- 7-7.5 percent GDP pretty achievable: Chief economic advisor
Kolkata: Kaushik Basu, the newly appointed chief economic advisor in the union finance ministry, on Saturday said 7-7.5 percent GDP growth is "pretty achievable" for the country in fisc....
- Gold emerges as a safe haven for investors
New Delhi: With gold prices hitting new highs, the glitter just gets brighter each day. The phenomenal rise in the value of gold has been a by-product of the global recession as investors, both....
- India's annual inflation rate in November rises 4.78 percent
New Delhi: India's annual rate of inflation, based on wholesale prices, rose sharply to 4.78 percent in November from 1.34 percent in the previous month, mainly on account of a 16.71 percen....
- Why do onion prices make people cry?
New Delhi: There is enough onion stock available and production of the crop has also not reduced -- but its prices are still making people shed tears. Why?
Onion prices in Delhi's....
- One out of three in India is poor: Tendulkar panel
New Delhi: The Tendulkar panel that has been appointed by the central government has reported that one of three people in India can be termed as poor. The committee has revealed that the percen....
- India hands over BIMSTEC chair to Myanmar
New Delhi: Handing over the chairmanship of BIMSTEC to Myanmar, India today said the seven-nation organisation is "a bridge" linking South and Southeast Asia with India's northeaste....
- India's high growth offset by rising food inflation
New Delhi: The Indian economy's 7.9 percent growth in the second quarter of this fiscal has taken everyone by surprise, but rising food inflation, which has seen the daily grocery bill shoo....
- India to grow at 8 percent next fiscal: Goldman Sachs
New Delhi: Investment banker Goldman Sachs today said India would post a growth of over 8 percent in 2010-11 and 8.7 percent the following fiscal, thanks to strong domestic demand and greater g....
- India logs 7.9 percent growth in second quarter
New Delhi: Signs of an upturn in the Indian economy were reinforced today with the official data on the country's gross domestic product (GDP) suggesting a 7.9 percent growth in the second ....
- India to fuel Aussie boom for decades
Melbourne: India and China would continue to drive the Australian economy for decades to come, Warren McKibbin, a member of Reserve Bank of Australia, has reiterated while addressing an economi....
- Domestic demand will help India grow faster: Mukherjee
Chandigarh: The Indian economy has been able to face up to the recent global economic slowdown and will grow faster backed by strong domestic demand and a young population, Finance Minister Pra....
- Indian, Finnish firms sign 13 partnership deals
New Delhi: A Finnish delegation has signed 13 partnership deals with Indian companies during a joint business forum held here.
The delegation, comprising more than 100 members, has si....
- Cooperatives should work for financial inclusion of poor: experts
Bhopal: Experts at a workshop on strengthening of cooperatives here today agreed on a concrete action plan to promote cooperatives for deeper and sustainable financial engagement of the poor.
....
- Manufacturing sector showing signs of recovery due to stimulus: CII
New Delhi: India's manufacturing sector witnessed an increased rate of recovery in the second quarter this fiscal, primarily helped by government stimulus even as exports continued to decli....
- India on way to becoming third biggest economy by 2050
New York: Carnegie Endowment for International Peace, a well known name in the world of foreign policies all over the world has reckoned that India would be taking up the position of the 3rd la....
- Disinvest, use money for green assets: Finance Commission chief
New Delhi: The government should sell off half its public sector undertakings and use the $200 billion it will thus make to build environmental assets, 13th Finance Commission Chairman Vijay Ke....
- Slowdown affecting women's welfare, say experts
New Delhi: The economic slowdown has had a direct impact on the per capita income, which has affected women the worst, said experts at a panel discussion here today.
"The global e....
- Inbuilt checks on foreign funds if distortions arise: Mukherjee
New Delhi: With inflows from foreign funds exceeding $15 billion this year and hardening of the rupee, Finance Minister Pranab Mukherjee today said India has a system of monitoring such flows a....
- No more stimulus packages: Mukherjee
London: Citing the urgent need to cut India's fiscal and revenue deficits, Finance Minister Pranab Mukherjee on Sunday ruled out any further special packages to stimulate the Indian economy....
- Government targeting 9 percent growth in two years
New Delhi: The government today said it still had an unfinished agenda -- to put the country's economic growth back at 9 percent and more.
"We have come down from a GDP (gross....
- Indian investments grow in London despite downturn
London: Indian companies continued to invest in London in the 2008-09 financial year despite the global recession and are set to emulate the strong growth registered in the previous year, accor....
- Worst is behind, but road ahead long, uncertain: PM
New Delhi: India may have faced the global downturn better than most countries but the road ahead to accelerated growth will not be an easy one to endure, Prime Minister Manmohan Singh said tod....
- India will grow at 6.5 percent: Manmohan Singh
New Delhi: Prime Minister Manmohan Singh today predicted India's economic growth for the current fiscal at 6.5 percent and said it can accelerate to 7 percent next year if monsoon were norm....
- Government to assess situation before exiting fiscal stimulus
New Delhi: Finance Minister Pranab Mukherjee today said the government would first assess the economic situation in the third quarter before taking a stand on withdrawing the fiscal stimuli it ....
- India's upturn now hinges on rich economies: Pranab Mukherjee
New Delhi: Even though India braved the global financial crisis better than other countries, a meaningful recovery depends on how quickly some key economies turn the corner, Finance Minister Pr....
- As Asia rebounds, India set to grow faster in 2010: IMF
Washington: As Asia rebounds rapidly from the depth of the global crisis, India's growth is expected to accelerate to 6.5 percent in 2010 from 5.33 percent in 2009 on the back of strong dom....
- Fiscal stimulus will continue: Mukherjee
New Delhi: Finance minister Pranab Mukherjee today ruled out any roll back of the stimulus package in a hurry and welcomed the stance taken by the central bank in its second quarterly review of....
- Khurshid lauds Mukesh's decision to take pay cut
New Delhi: Admiring RIL chief Mukesh Ambani's decision to lower his pay package by almost 66%, Indian government stated that the entrepreneur's initiative reflects his 'remarkable s....
- Economic growth, inflation to be as predicted: Ahluwalia
New Delhi: India's economy will grow at 6.3 percent this fiscal as per prediction, while inflation would remain under 5 percent, according to Planning Commission Deputy Chairman Montek Sing....
- India's current account deficit is $5.8 bn in first quarter of 2009-10
Mumbai: The Reserve Bank of India (RBI) stated on Wednesday that India's current account deficit for the first quarter of current fiscal year stood at $5.8 billion. The current account defi....
- India, China to lead growth as global economy recovers: IMF
Washington: As the global economy recovers from its worst crisis in decades, India and China will lead the expansion this year and will grow at rates of 5.4 and 8.5 percent, respectively, accor....
- India will grow at 6.3 percent: Manmohan Singh
Pittsburgh: Prime Minister Manmohan Singh on Friday predicted a 6.3 percent growth for India during the current fiscal even though he saw a dip in the economic expansion of developing countries....
- Time not ripe to end stimulus: Manmohan Singh
Pittsburgh: Prime Minister Manmohan Singh today told the G20 summit that the time was not ripe yet to withdraw the stimulus packages that were announced to stabilise the slowdown-hit global eco....
- Government aiming to bring fiscal deficit down to 4 percent
Kolkata: Finance Minister Pranab Mukherjee today said the government planned to scale down fiscal deficit to 4 percent by 2012.
"We should try to bring down the fiscal deficit to ....
- India's economy to grow by 6 percent in 2009: ADB
Manila: The Indian economy is expected to grow by 6 percent in 2009 as capital inflows, industrial production and business confidence soar, the Asian Development Bank (ADB) said today.
....
- Interest rates may harden a bit: Rangarajan
Hyderabad: Interests rates may marginally increase towards the end of the current fiscal as the economic situation is improving and demand is picking up, Prime Minister's Economic Advisory ....
- No adverse impact on flow of capital to India: Ahluwalia
New Delhi: India is concerned about protectionism in the global financial markets in the guise of regulation but does not see any adverse impact on the inflow of overseas funds, Planning Commis....
- Uneven growth makes India uncompetitive globally
New Delhi: Is India a good place to do business? The answer seems to be it is excellent in some areas and difficult in others. No wonder the Indian economy has risen in one global index of comp....
- India's industrial output up 6.8 percent in July
New Delhi: Further signs of recovery in India's industry emerged today with the latest official data indicating a 6.8 percent growth in July over the like month last year.
Notably....
- Meltdown hits Gulf job market, emigration falls 30 percent
New Delhi: Emigration from India to the Gulf has fallen 30 percent with the global meltdown hitting the job market in West Asia, the government said today.
"Emigration to Gulf has....
- Brace for deceleration of India's growth: Mukherjee
New Delhi: There is little hope of reversing the slowdown in India's merchandise exports in the near term, and the country's growth is expected to decelerate in the next two quarters, F....
- Indian economy growth to taper to 5 percent: UN unit
New Delhi: The Indian economy could grow by 5 percent this year even as the world output is slated to decline by 2.7 percent, a report said today.
"Since domestic demand accounts ....
- India, China to post 6-8 percent growth: Canadian report
Toronto: The global economy is turning the corner and India and China will lead the world out of recession, said a Canadian economic report on Wednesday.
The report called 'Econom....
- India's growth may retard in next two quarters: Ahluwalia
New Delhi:: Drought may retard India's growth from 6.1 percent logged during the first quarter of this fiscal, even as 2009-10 may end with a 6.3-percent expansion, Planning Commission Depu....
- Plan panel to assess drought impact on economy
Bangalore: The first meeting of the reconstituted Planning Commission in New Delhi on Tuesday will assess the impact of drought and global recession on the Indian economy this fiscal, a top off....
- Drought may retard India's growth to 6.2 percent: Moody's
New Delhi: The biggest threat to the Indian economy is drought that will bring down growth to 6.2 percent this fiscal, says the research arm of global consultancy Moody's.
"GD....
- Fiscal deficit won't exceed 6.8 percent: Ahluwalia
New Delhi: India's fiscal deficit this year will not exceed 6.8 percent, Planning Commission Deputy Chairperson Montek Singh Ahluwalia said here on Monday.
"Deficit will not b....
- Standard & Poor's raises India's growth forecast
New Delhi: Global rating agency Standard & Poor's (S&P) today raised India's growth forecast for the current fiscal from 5.8 percent to 6.3 percent taking into account the impro....
- Indians' optimism second only to Indonesians
New Delhi: Consumer confidence in India is on an upswing with the country ranking second, next only to Indonesia, in the Global Confidence Survey conducted by market tracker AC Nielsen during t....
- Economy looking up, but scanty rains a problem: Mukherjee
New Delhi: Finance Minister Pranab Mukherjee today indicated the economy was beginning to look up but he was unsure of the way it was going because of the scarce rainfall this monsoon.
....
- Protectionism hurting India's trade with EU: Ficci
New Delhi: India Inc. is opposed to protectionism practised by the European Union (EU) by way of agriculture subsidies and non-tariff barriers on services exports and faces adverse conditions i....
- India's economy to grow by 7 percent: Minister
New Delhi: India's economy is expected to grow at around 7 percent this fiscal, Minister of State for Finance Namo Narain Meena said in the Rajya Sabha today.
"As per the Econ....
- India to get $4.78 bn SDRs to battle recession
Washington: India has been allocated the equivalent of about $4.78 billion as its share of International Monetary Fund's Special Drawing Rights (SDR) worth $250 billion announced on Monday ....
- India's financial sector is sound: Finance Commission chief
Hyderabad: India's financial sector is sound and the government is closely monitoring the evolving macro-economic situation, Vijay Kelkar, chairman of the 13th Finance Commission, said here....
- 'Investment in infrastructure can boost economy by 1.8 pc'
Hyderabad: Investments in infrastructure, particularly the roads sector, can boost the economy by 1.8 percent a year, said J.P. Nayak of Larsen and Toubro Limited here on Saturday.
Ha....
- Divestment to address India's economic woes: Moody's
New Delhi: The government's plan to sell stakes in state-owned enterprises will strengthen its financial position and help address India's many economic woes, says the economic research....
- India among top recipients of remittances: World Bank
New Delhi: India, China and Mexico retain their positions as the top recipients of migrant remittances among developing countries, said the World Bank today.
As per official estimates....
- Manmohan Singh has made India one of the fastest-growing economies: Time
Washington: One does not need charisma to make a leader, says Time magazine, citing Prime Minister Manmohan Singh's example who has made India one of world's fastest-growing economies a....
- Wholesale, consumer price indices to be merged
Jangipur (West Bengal): The central government has formed a committee to prepare a roadmap for merging the wholesale price index and the consumer price index, Finance Minister Pranab Mukherjee ....
- India can come out of economic crisis: PM
On board Air India One: Sounding a note of caution that the international environment was not gong to be supportive in the current phase of global economic crisis, Prime Minister Manmohan Singh....
- Economic Survey calls for multi-format retailing
New Delhi: The Economic Survey for 2008-09 Finance Minister Pranab Mukherjee tabled in parliament today has advocated sweeping policy changes like foreign investment in multi-brand retailing an....
- India's external debt rises to $230 bn
Mumbai: India's external debt rose 2.4 percent or $5.3 billion to $229.9 billion for the fiscal ended on March 31, the Reserve Bank of India (RBI) said today.
India, which has an ....
- 2009 crucial for India to fight global challenges: EU
Brussels: The year 2009 "is a crucial year" for India and the European Union (EU) to find ways to address common challenges posed by climate change, energy and terrorism, a top official....
- Punjab's economy worsening, claims a panel
Chandigarh: Punjab, once one of the richest Indian states, is now fast becoming poor amid economic challenges like shrinking land holdings, migration and the absence of big industries, a centra....
- Industry worried by high food price
New Delhi: Rising food prices, not negative inflation, is what alarms corporate India.
"There is no fear of deflation and this is just a temporary phenomenon. The negative inflati....
- India's inflation rate slips into negative zone
New Delhi: For the first time since the new wholesale price index (WPI) series started in 1995, India's annual rate of inflation has turned negative, falling to minus 1.61 percent for the w....
- Worst is over for India Inc, recovery yet to start
Bangalore: A resilient India Inc is waiting for global recovery to start as the worst impact of the global meltdown seems to be over, an industry luminary said today.
"The consens....
- Manmohan Singh confident of 7 percent growth
New Delhi: India will achieve an economic growth of at least 7 percent this fiscal despite the global slowdown, Prime Minister Manmohan Singh said today while promising more resources for areas....
- Divestment can raise $95 bn, wipe deficit clean: Study
New Delhi: Divestment of even minority stake in state-owned firms can raise nearly $95 billion (Rs.450,309 crore), help clean the red ink on the government's balance sheet and make enough r....
- Business outlook has improved for India Inc: CII survey
New Delhi: Despite signs of an improving economy, India Inc feels actual recovery will happen only after September, a survey by the Confederation of Indian Industry (CII) has found.
A....
- Economy outlook brightens, tax collection up 17 percent
New Delhi: In yet another sign of the economy clawing back, direct tax collection in May rose to Rs.11,919 crore compared to the Rs.10,198 crore raised in the year-ago period when the global me....
- India, China 'ready to rule world economy': US expert
Washington: After the fall General Motors, "once the embodiment of US economic might," Americans should get used to the fact that "upstarts" like China and India are "ready ....
- GM bankruptcy creates opportunity for Indian vendors
Chennai: The decision of General Motors (GM) to file for bankruptcy could create a new supply chain for Indian and Chinese auto component makers, say industry analysts.
"Corporate....
- India needs investment budget to beat slowdown: CII
New Delhi: India's budget 2009-10 should be an "investment budget" to help the the country tide over the economic slowdown, said the Confederation of Indian Industry's (CII) pre....
- Growth no indication of strong Indian economy: CPI-M
Kolkata: The Communist Party of India-Marxist (CPI-M) today conceded that the country's annual growth rate of 6.7 percent has raised hope but cautioned that it did not indicate the Indian e....
- India Inc seeks 100-day focus on divestment, rate cuts
New Delhi: India Inc has readied its 100-day wish list for the new government. It wants the policies to focus on agriculture, divestment, skill development, infrastructure and manufacturing to ....
- India's credit rating under pressure: Moody's
New Delhi: India's credit rating is facing growing pressure because of the widening fiscal deficit and the country's increasing dependence on foreign capital inflow, global rating agenc....
- Power cuts cost India Inc over Rs.43,000 crore
New Delhi: The global economic meltdown is not the only factor that is pulling down the revenues of Indian businesses. A study released here today said India Inc lost Rs.43,205 crore in 2008-09....
- ONGC refiner net down 6.3 percent
New Delhi: Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of state-run Oil and Natural Gas Corporation (ONGC), has recorded a 6.3 percent drop in profits in 2008-09 at Rs.1,....
- Fiscal deficit ceiling needs fresh look: Pranab
New Delhi: Accepting that the two financial stimulus packages and a relaxed monetary policy have put pressures on India's fiscal deficit, Finance Minister Pranab Mukherjee today hinted the ....
- India can still join gas pipeline deal: Iran
Tehran: India can still join the Iran-Pakistan-India (IPI) gas pipeline project, the Iranian foreign ministry said, a day after Islamabad and Tehran signed a pact on the export of Iranian gas.
....
- Next decade to belong to Indian and Chinese consumers
Toronto: The next decade belongs to Indian and Chinese consumers, forecasts a new economic outlook report.
Further, the US will see the return of inflation and stocks and resource pri....
- MRF strike enters 14th day
Chennai: The workers' strike at tyre major MRF's Arakonam and Puducherry plants entered its 14th day today with no sign of a swift settlement, and workers of the Arakonam unit camping a....
- India's direct tax receipt up 8.3 percent, but miss target
New Delhi: India's direct tax receipts were up 8.33 percent to Rs.3.38 lakh crore in 2008-09, the finance ministry said in a statement on Thursday.
However the direct tax collecti....
- India's growth outlook dim despite stability: Moody's
New Delhi: Despite the political stability promised by the Congress-led coalition's resounding win at the recent parliamentary polls, the outlook remains dim for the Indian economy till 201....
- Trading reaches record volumes
Mumbai: A day after Indian equities markets were caught in a frenzy that saw key indices shoot up over 17 percent, today saw traders lapping up stocks leading to volumes touching record highs.....
- Labour unrest at MRF again, plant locked out
Chennai: City-based tyre manufacturer MRF has declared a lockout at its radial tyre factory in Arakonam near here from Sunday onwards due to labour unrest.
"The management has dec....
- India Inc has wish list ready for next government
New Delhi: Tabling a regular national budget will top the economic agenda of the next government, with India Inc hoping for fair doses of policy reform since the ghost of Left support - the mai....
- Life insurers hope for reforms by the new govt
Chennai: A much stronger Congress-led coalition to form the next government bodes well for the life insurance sector clamouring for reforms, says the industry's representative organisation.....
- UPA to continue with its economic reforms: Congress
New Delhi: Enthused by the poll win, the Congress party on Saturday said that the United Progressive Alliance (UPA) will continue with its economic policies, but not at the cost of the public s....
- Mahindra signs wage agreement with Nashik plant workers
Mumbai: Auto major Mahindra and Mahindra today said it has signed a wage agreement with workers at its plant near Maharashtra's Nashik town after they went on a strike demanding pay revisio....
- Weak public finances threaten India's creditworthiness: Fitch
New Delhi: Growing budgetary deficit and weaknesses in its public finances could weaken India's sovereign creditworthiness, said global ratings agency Fitch in a statement today.
....
- India Inc's business sentiments have improved, says CII
New Delhi: India Inc's business confidence for the first half of this fiscal has improved 2.4 points to 58.7, though global economic instability and slackening consumer demand remain major ....
- Inflation dips to 0.48 percent after four-week rise
New Delhi: India's annual rate of inflation fell to 0.48 percent for the week ended on May 2 from 0.7 the week before, official data showed today.
The annual rate of inflation has....
- India will recover after global situation improves: RBI chief
Bangalore: Reserve Bank of India (RBI) Governor D. Subbarao believes the Indian economy will recover only after the world tides over the financial crisis.
"I believe for India to ....
- Indian Oil's Gujarat wind power project is ready
Kandla, Gujarat: Public sector refiner Indian Oil Corp (IOC) has completed its 21 MW wind power project near the port town of Kandla, a top official said today.
The wind farm, set up....
- Prices to come down in six months: PM
Ludhiana: Prices of consumer goods will fall in the next six months, Prime Minister Manmohan Singh said on Monday.
Speaking to reporters, he also said that despite the global economic....
- India to lose $160 bn due to work-related ailments: Report
New Delhi: Work-related ailments like heart diseases, strokes and diabetes will likely cost India's exchequer around $160 billion between 2009-15, an industry lobby study has said.
- Manufacturing sector recovering marginally: CII
New Delhi: India's manufacturing sector showed marginal signs of recovery in the second and third quarters of the last fiscal as compared to the corresponding quarters in 2007-08, says a r....
- Shahi litchi to hit market soon
Patna: Shahi litchi, a popular summer fruit largely grown in Bihar's Muzaffarpur district, is set to hit markets across India in the third week of May.
"Juicy Shahi litchi wi....
- India Inc against layoffs, but freezes hiring: Survey
New Delhi: Most Indian companies have decided not to resort to any more job cuts even as they have put a cap on fresh hiring and staff incentives with a curb on outstation travel for executive....
- India's economic revival will be fast : Kochhar
New Delhi: The Indian economy will recover "quick and fast", though sectors such as realty and auto will take some to revive, according to ICICI Bank joint managing director Chanda Koc....
- United Spirits net drops 14 percent
Mumbai: Liquor manufacturer United Spirits, a part of the Vijay Mallya-controlled United Breweries, today said its net profit dropped 14.5 percent to Rs.556.2 million for the quarter ended Marc....
- Premji optimistic about economic recovery
Bangalore: Wipro chairman Azim Premji today said that he was more optimistic now than a month ago about recovery in the Indian and the US markets after a huge amount of uncertainty.
....
- Economy to grow by 6 percent, inflation to rise too: RBI
Mumbai: India's economy will grow by six percent this fiscal while inflation would rise to around four percent, the central bank said here today while announcing a 25 basis points cut i....
- Markets soar as buying progresses
Mumbai, Maharashtra: Indian equities markets started the week on a bullish note on Monday with a key index rising about 146 points by a little before noon.
The Bombay Stock Exchange ....
- India's growth to dip to 5.5 percent, US expects
Washington: The United States expects India's growth to slow to around 5.5 percent this year, but believes recently announced policy measures to stimulate the economy and ease credit conditio....
- Hamid Ansari advocates alternate development models
Shimla: Vice President Hamid Ansari Thursday said there is a need for developing alternate models of development keeping in mind the public outcry to the acquisition of agricultural land for ....
- 'Economy will turn 'significantly worse' in 2009'
New Delhi: The Indian economy will log a growth of less than 7 percent this fiscal with 2009 turning "significantly worse" as the current economic crisis was unlikely to end soon, Planning Comm....
- Oh dear! Lower inflation doesn't mean lower prices
New Delhi: Alpana Singh, a homemaker in north Delhi, should be rejoicing that India's annual rate of inflation has fallen to a six-year low. Instead, she is ruing that her household budget ha....
- Indian economy is expected to recover in the end of 2009
Revival of Indian economy is not a distant dream as it is expected to overcome its declining trend after the second quarter of the fiscal year 2009. According to a top economist, the stimulus m....
- India finalising claims to continental shelf
New Delhi: India is in the last stages of finalising its claims on extending its claim into the continental shelf before an international convention, which will increase its economic sovereig....
- Increased fiscal deficit to stimulate growth
Mumbai: The fiscal deficit will stimulate growth of the Indian Economy, chief economic advisor Arvind Virmani said here on Friday.
"GDP growth rate for India can be reasonably forecast aft....
- Pre-poll goodies in times of falling GDP growth
Prime Minister Manmohan Singh's government was looking forward to a "Jai Ho" moment with the electorate after the series of poll sops that have just been announced. But the GDP growth data released ....
- All round concern as slowdown drags India's growth to 5.3 percent
New Delhi: The fears of a sharp slowdown in India were confirmed on Friday, with official data showing economic growth at just 5.3 percent for the third quarter of this fiscal - the slowest....
- Interim trade policy fails to enthuse industry
New Delhi: The interim trade policy announced by Commerce and Industry Minister Kamal Nath on Thursday evoked mixes response from India Inc, which found the measures to ease procedural hurdle....
- India's economic upturn to begin in October: Chidambaram
New Delhi: India's economic downturn is "temporary" and the upturn will begin from October as the country's economy and business are resilient enough to adapt to the changing times of global me....
- India's fiscal deficit may increase: Goldman Sachs
New Delhi: India's consolidated fiscal deficit may increase to 10.3 percent of gross domestic product (GDP) this fiscal and 10 percent the next year, according to an estimate by global invest....
- Fresh economic stimulus if required: Pranab
New Delhi: The government is open to a fresh economic package if it was required to cope with the global financial crisis, acting finance minister Pranab Mukherjee said on Thursday, but cau....
- Onus of providing stimulus now on Reserve Bank: Goldman Sachs
New Delhi: With no announcement of any major policy changes in its interim budget for the financial year 2009-10, the pressure of providing stimulus to the economy will fall on the Reserve ....
- Where the Rupee comes from, and goes
New Delhi: The major part of the government's revenue comes from borrowings. Consequently, the biggest chunk of expenditure is on interest payments.
Out of every rupee that enters the go....
- Government ignores industrial output fall, predicts 7 percent growth
New Delhi: Fresh data released on Thursday showed India's industrial output declined in December, but two key cabinet members said the country's economy would register a fast growth of arou....
- India's official estimates peg growth at 7.1 percent
New Delhi: The Indian economy is expected to log its lowest growth in six years, falling to 7.1 percent for the current fiscal, against 9 percent in the previous year, official projections ....
- India shows resilience amid economic downturn: ADB
Manila: India has shown resilience amid the global economic downturn, the Asian Development Bank (ADB) said Saturday. The economies worldwide have seen a downturn, which may become even deeper,....
- Funds worth Rs.5 bn allowed for cotton farmers
New Delhi: The government on Thursday approved allocation of funds to the tune of Rs.5 billion (Rs.500 crore) for cotton growers as "reimbursement of losses".
"The cabinet today (on Thursd....
- Third 'stimulus like' package by month-end: Pillai
New Delhi: The government will come out with a "stimulus like package" by the end of this month to help the country's corporate sector tide over the impact of the current global financial cri....
- Kamal Nath says India's growth will top 7 percent
New Delhi: India will clock a growth of over 7 percent this fiscal, Commerce Minister Kamal Nath said here on Tuesday. Referring to the general belief that the economic growth would slow down c....
- 'China unlikely to overtake India in outsourcing'
Washington: China is unlikely to overtake India in outsourcing business anytime soon and it would take not one country but a lot of small ones to knock it off the top, according to a US exper....
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