Growth may be revised upward from 6.9 percent: Pranab New Delhi, Feb 7: The economic growth for the current financial year which was projected today at 6.9 percent, is likely to be revised upwards on the back of improvement in business sentiments ....
Indian economy to grow by 6.9 percent this fiscal New Delhi, Feb 7: The Indian economy is expected to grow by 6.9 percent in the current fiscal, the slowest in three years, the government said in a statement today.
Fragile global eco....
Inflation will come down to 6-7 percent by March: Mukherjee New Delhi, Feb 1: The overall inflation will be around 6-7 percent by March while economic growth in the current financial year will be around 7 percent, Finance Minister Pranab Mukherjee said ....
Internet penetration can help raise GDP: Report New Delhi, Jan 19: A 10 percent increase in internet penetration in India can increase the gross domestic product (GDP) by 1.08 percent, says a report released today by the Indian Council for R....
Growth will be below 7.5 percent, says Pranab New Delhi, Jan 18: India's economic growth will fall below 7.5 percent in the current financial year and it would be a "major challenge" to meet the fiscal deficit target of 4.6 per....
Indian economy to grow 7.7 percent in 2012: UN New Delhi, Jan 17: India's gross domestic product (GDP) is expected to grow by 7.7 percent in 2012 and 7.9 percent in the following year as compared to the estimated 7.6 percent in 2011, th....
Fiscal deficit management need of the hour: Pranab Kolkata, Jan 14: Faced with a widening fiscal deficit due to a dip in revenue and growth in expenditure, Finance Minister Pranab Mukherjee today called for containing the shortfall, saying it s....
Difficult to meet 4.6 percent fiscal deficit target: Pranab New Delhi, Jan 11: India is unlikely to meet the 4.6 percent fiscal deficit target for the financial year ending March 31, Finance Minister Pranab Mukherjee said today."It will be difficult....
Fiscal deficit to exceed budget estimate, says Pranab Chennai, Jan 6: India's fiscal deficit this financial year will exceed the projected 4.6 percent of the gross domestic product (GDP) owing to higher oil prices, Finance Minister Pranab Mukh....
Indian economy hit by high inflation, slowing growth New Delhi, Dec 28: Even though India performed better than most emerging economies despite the global economic slowdown and the Eurozone crisis, 2011 for it was largely marked by a phenomenon w....
Downturn temporary, India will clock high growth soon: Pranab New Delhi, Dec 27: The Indian economy would soon be on a higher growth trajectory with inflation moderating and the savings rate going up, Finance Minister Pranab Mukherjee has said.
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Britannia may go for 6 percent overall price hike Kolkata, Dec 18: Britannia Industries, India's largest biscuits and bakery company, on Saturday indicated that it may raise prices of its products due to soaring distribution and raw materi....
Rupee rebounds as new RBI norms check volatility Mumbai, Dec 16: Helped by fresh guidelines unveiled by the Reserve Bank of India, the Indian rupee rose in today trade on fresh selling of dollars.
The rupee rose to 52.21 a dollar in....
India's illicit capital outflow seen at $128 bn in 2009 Washington, Dec 15: A staggering $128 billion in capital illegally flowed out of India in 2009, making the country the 15th largest victim of illicit financial outflow that cost developing coun....
Rupee slides to new low at 54.30 against dollar New Delhi, Dec 15: The Indian rupee sank to a record low for the fourth straight day today hitting 54.30 against a dollar in early trade, as importers and investors continued to buy the US curr....
Food inflation may soon drop below 3 percent, says Kaushik Basu
New Delhi, Dec 14: With food inflation showing a continuous decline in the past few weeks, Chief Economic Advisor to the Finance Ministry, Kaushik Basu today said it could fall to below 3 perce....
November headline inflation at 9.11 percent New Delhi, Dec 14: India's annual inflation based on wholesale prices continued to remain at elevated levels, official data released today showing it at 9.11 percent in November.
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Rupee slide continues, now at another all-time low Mumbai, Dec 14: The Indian rupee fell to another all-time intra-day low today to 53.75 to a dollar, amid continued demand for the greenback from importers and gloomy outlook for the global eco....
Chhattisgarh can maintain 11 percent GDP: Raman Singh Raipur, Dec 8: Mineral-rich but insurgency-ridden Chhattisgarh can maintain its high GDP growth rate of 11 percent for years, claims Chief Minister Raman Singh.
"Despite Maoist in....
Indian economy in a difficult situation: Pranab New Delhi, Dec 7: Finance Minister Pranab Mukherjee today said India's economy is in a "difficult situation" because of slowing growth, stubborn inflation and a widening fiscal defi....
Pranab expresses concern as GDP growth slips to 6.9 percent New Delhi, Nov 30: Finance Minister Pranab Mukherjee Wednesday expressed concern over the slowdown in economic growth at 6.9 percent in the second quarter of 2011-12, and said the government w....
India's growth at 6.9 percent slowest in two years New Delhi, Nov 30: The Indian economy grew at the slowest pace in over two years at 6.9 percent in the quarter ended September, official data showed today, amid a slowdown in demand, high infla....
Europe crisis can affect Indian economy: Pranab Mukherjee Kolkata, Nov 14: Emphasising that he will not hesitate to take harsh measures to control sovereign debt and fiscal deficit of the country, union Finance Minister Pranab Mukherjee on Sunday said....
Moody's to discuss India's sovereign ratings New Delhi, Nov 13: Global credit rating agency Moody's is scheduled to discuss India's sovereign ratings with the country's economic policy makers here on Monday, just a few days af....
Indian economy may grow 9-10 percent in medium-term New Delhi, Oct 18: Despite recent moderation, the government is hopeful that the Indian economy would grow at 9-10 percent in the medium-term as the fundamentals remain strong.
"T....
India's core industry growth slumps to 3.5 percent in August New Delhi, Sep 27: The growth rate of eight core industries that include electricity, coal, steel, cement, oil and natural gas, slumped to 3.5 percent in August as compared to 4.4 percent durin....
India slips in economic freedom: Report New Delhi, Sep 22: India has slipped to 94th position in the world in terms of economic freedom as compared to 90th position last year, according to a study, which added that doing business has....
Recession in US could slow growth in India: Deloitte New Delhi, Sep 22: If the US economy falls into another recession, India is likely to suffer in terms of a slowdown in exports, instability in financial markets, increased unemployment as well ....
Rate hikes not curbing inflation, only hampering growth: Industry New Delhi, Sep 16: Successive rate hikes by the Reserve Bank of India (RBI) have not helped in tackling soaring inflation but have only hampered growth, leading industry lobbies said today afte....
India slashes tax incentives to exporters New Delhi, Sep 16: Tax incentives to exporters will be lowered from Oct 1 as the government said today it will replace the popular tax refund scheme, Duty Entitlement Pass Book (DEPB), with a n....
India hopeful of 4.6 percent fiscal deficit target New Delhi, Sep 6: India is hopeful of meeting the 4.6 percent fiscal deficit target for 2011-12 as revenue and expenditure are in line with the estimates of April-June, the quarter review of th....
Economic growth data disappointing, says Pranab New Delhi, Aug 30: Expressing disappointment over the slowdown in the economic growth that fell to 7.7 percent in the first quarter this fiscal, Finance Minister Pranab Mukherjee today said the....
Indian economy grew 7.7 percent in first quarter New Delhi, Aug 30: Despite a relatively higher growth of 3.9 percent in farm output, the Indian economy grew at a lower rate of 7.7 percent in the first quarter of this fiscal, against 8.8 perc....
India's industrial output rises 8.8 percent in June New Delhi, Aug 12: India's factory output grew at a faster 8.8 percent in June compared to the levels seen in the year-ago period, primarily due to robust growth in the manufacturing sector....
Don't panic, Indian economy fundamentally strong: Pranab Mukherjee New Delhi, Aug 8: Even as global stock markets continued to lose heavily over the US sovereign debt downgrade, policymakers in India sought to reassure investors that the crisis will not affect....
India to grow at 8.2 percent: PM panel New Delhi, Aug 1: Stating that inflation will ease to around 6.5 percent only by the end of this fiscal, the Prime Minister's Economic Advisory Council today projected the country's gro....
India's markets watchdog revises takeover norms Mumbai, July 28: India's markets watchdog today raised to 25 percent from the present 15 percent the trigger point for making an open offer when an entity buys into the shares of another co....
Tax collections, notably in services, encouraging: Mukherjee Amid concerns that India may not be able to meet its fiscal deficit target for this fiscal, Finance Minister Pranab Mukherjee today said tax collections, especially from servi....
No need to revise fiscal deficit target: Pranab New Delhi, July 5: The government will stick to its fiscal deficit targets despite loss of revenue due to reduction in levies on petroleum products following the recent hike in prices, Finance....
Plan panel hints at 9-9.5 percent growth in 12th Plan Bangalore, June 10: The Planning Commission is set to target GDP growth of 9-9.5 percent for the 12th Five Year Plan (2012-17) period as 10 percent growth does not seem feasible, its Deputy Cha....
Extra efforts needed to achieve tax targets: Pranab New Delhi, June 8: Sustained and strategic efforts are needed to achieve the challenging targets of tax collection during the current financial year, Finance Minister Pranab Mukherjee said here....
India to grow at a slower 8 percent: World Bank Washington, June 8: With India's growth projected to ease to 8 percent in fiscal 2011-12 from 8.8 percent last fiscal, South Asia is headed for a slower, but still buoyant 7.5 percent growt....
Indian equities edge lower weighed by inflation worries Mumbai, May 28: Indian equities markets edged lower this week as traders were cautious in the wake of high inflation and an expected rate hike by the central bank.
The fall could have....
India will soon become fastest growing economy: PM New Delhi, May 22: Prime Minister Manmohan Singh today said India will soon become the fastest growing economy, having expanded admirably in the past few years despite the difficult global sit....
India, China leading dynamic Asia's growth: IMF Washington, April 28: Led by India and China, growth is expected to reach around 8 percent in emerging Asia, the International Monetary Fund (IMF) said today in its latest Regional Economic Out....
Double-digit growth will need key reforms: new CII president New Delhi, April 25: The Indian economy is expected to grow at 8-8.5 percent this fiscal, but will need to step up efforts to improve manufacturing output, boost agricultural production and bri....
Hazare movement could undermine democracy: Aiyar New Delhi, April 24: Senior Congress leader Mani Shankar Aiyar today said that Gandhian Anna Hazare's movement against graft was not able to "understand the malaise" of lop-sided ec....
HCL Technologies quarterly net profit rises 26.37 percent New Delhi, April 20: HCL Technologies today posted an increase of 26.37 percent in net profit at Rs.331.8 crore for the quarter ended March 31 as against Rs.262.6 crore during the like period o....
India's inflation overshoots target, at 8.98 percent in March New Delhi, April 15: Despite rampant rate hikes initiated by India's central bank and assurances from policy makers, the annual rate of inflation rose to 8.98 percent in March from 8.31 per....
Households expect inflation to rise further: RBI survey Mumbai, April 12: Urban households in India don't expect any immediate respite from price rise and a majority of them feel it would accelerate further in the coming quarters, a survey cond....
Government to stick to fiscal deficit target, borrowing limit New Delhi, April 9: The Indian government will meet the fiscal deficit target during the current fiscal and not exceed its borrowing limit, top finance ministry officials said today.
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Rate hikes will help curb price rise, says Pranab New Delhi, March 17: Finance Minister Pranab Mukherjee said on Thursday the Reserve Bank of India's move to hike key policy rates by 25 basis points would help curb inflationary pressure. &....
Inclusive growth biggest challenge for country: Pranab New Delhi, March 12: The biggest challenge for India today is to ensure inclusive growth, Finance Minister Pranab Mukherjee said today.
Financial inclusion is an important priority of....
Nine percent growth rate can be achieved: Mukherjee New Delhi, March 11: Finance Minister Pranab Mukherjee said today that the country will be able to achieve over 9 percent growth rate this fiscal, despite the global economic downturn of 2008-0....
Businesses cautious over Arab world unrest New Delhi, Feb 24: Businesses are getting cautious across the Middle East and not taking major investment decisions as many believe the political uprisings like in Egypt, Tunisia, Yemen, Libya ....
India back on pre-recession growth trend: World Bank Washington, Feb 23: The Indian economy seems to be back to the growth trend before the global financial crisis with particularly strong GDP growth over the first half of the 2010-11 fiscal, but....
Economy to grow by 8.6 percent this fiscal: PM's advisor New Delhi, Feb 21: India's economy was likely to grow by 8.6 percent in 2010-11 on the back of robust agricultural growth, rising output in services sector and stable industrial production,....
India, smaller Asian economies to lead growth Toronto, Feb 15: Smaller Asian economies and India will lead in global growth in the next year, says an international survey of asset management, private equity and hedge fund executives.
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Economy to grow by 8.6 percent this fiscal: Pranab Mukherjee New Delhi, Feb 10: Finance Minister Pranab Mukherjee today said India's economy would grow by 8.6 percent in the current fiscal on the back of robust agricultural output.
"Eco....
India predicts 8.6 percent growth this fiscal
New Delhi, Jan 7: Projecting a noteworthy 5.4 growth in farm output, 8.1 percent in factory production and 10.2 percent in services, India today estimated the overall economy to expand 8.6 perc....
India may keep growth target at 8.5 percent New Delhi, Feb 5: The Indian government is likely to keep its economic expansion target unchanged at 8.5 percent for the fiscal 2010-11 in the advance estimates to be released on Monday.
Food inflation reaches 15.57% New Delhi, Jan 27: After two straight weeks of downward movement, the rate of food inflation has increased marginally. For the period that ended on 15th January 2011 the rate of inflation stood....
India confident of over 9% growth next year: President New Delhi, Jan 25: President Pratibha Patil today said the Indian government was confident of achieving over 9 per cent economic growth next year, but admitted that rising inflation, specially ....
Finance Minister projects 6 percent farm sector growth New Delhi, Jan 17: Finance Minister Pranab Mukherjee today projected farm sector growth of 6 percent and hoped the dip in factory output in November was temporary.
"With normal mo....
Not reaching out to NRIs for money: Ahluwalia New Delhi, Jan 10: The Indian government is not reaching out to NRIs for their money but wants them to take more interest in this country, Planning Commission Deputy Chairman Montek Singh Ahluw....
Fiscal consolidation vital to tame prices: Mukherjee New Delhi, Jan 8: Economic expansion and high fiscal deficit are together leading to unstable price regime and the government needs to revert to fiscal consolidation to control the situation, F....
India seeks greater Chinese market access to curb trade deficit New Delhi, Dec 15: Expressing concern over the growing imbalance in bilateral trade, Commerce and Industry Minister Anand Sharma today requested China to provide greater market access to Indian....
The onion crisis is here again... New Delhi, Dec 1: With its retail prices soaring all across northern India, the humble onion has triggered a crisis that is worrying authorities. In a space of a fortnight, onion prices have do....
Indian economy may grow 9 percent in Oct-Dec quarter
New Delhi, Nov 30: Buoyed by the 8.9 percent, better than expected growth in the second quarter, key policymakers said today that the Indian economy would perform even better in October-Decembe....
Indian economy grew 8.9 percent July-September New Delhi, Nov 30: The Indian economy grew by 8.9 percent in the second quarter of this fiscal, latest data on gross domestic product (GDP) showed today, much above the forecasts and the govern....
Onion prices to fall further: NAFED New Delhi, Nov 27: The prices of onion are likely to fall further in the capital with the increase in the arrival of good quality onions at the wholesale Azadpur vegetable market from the next ....
India's forex reserves decline by $1.9 billion Mumbai, Nov 20: India's foreign exchange (forex) reserves declined by $1.899 billion, going down to $298.31 billion, during the week ended on Nov 12 because of a sharp decline in its foreig....
PM promises enabling environment for double-digit growth New Delhi, Nov 20: Prime Minister Manmohan Singh today promised an environment that will help India attain a nine percent growth next year, expanding further to double-digit levels in the mediu....
India needs no control on capital flows yet: Montek Seoul, Nov 11: In a statement that should please investors both in Indian projects and capital markets, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday said there was no....
Rate hike fears in India's monetary policy review on Tuesday Mumbai, Nov 1: The Reserve Bank of India (RBI) reviews its monetary policy for this fiscal today with high food inflation in the backdrop, even as industry and commercial banks hoped for status....
Indian economy will grow 8.25-8.75 percent: Mukherjee New Delhi, Oct 26: The Indian economy is witnessing clear signals of an all-round recovery thanks to the fiscal stimulus measures since December 2008, and the country will grow at 8.25-8.75 per....
Air fares to increase by 10% in coming festive season New Delhi, Oct 26: People who are looking to travel by the air in the coming four months may have to give more money as prices are set to go up. The major reasons behind this rise are the finan....
India needs to open up financial sector: IMF chief New Delhi, Oct 8: The Indian economy has performed very well in the last few years, especially during the global economic crisis, but it needs to further open up its financial sector and public....
India eying double-digit growth by 2012: Mukherjee
New York, Oct 7: India is targeting double-digit economic growth by 2012, buoyed by an estimated near nine percent growth in the first quarter of the current financial year, Finance Minister Pr....
Estimate impact on farmers of less rainfall : Pranab to banks Jangipur (West Bengal), Sep 26: Finance Minister Pranab Mukherjee today asked banks to survey the impact of less rainfall in West Bengal, Jharkhand and Bihar so that loans could be extended to ....
GDP growth will surpass 8.75 percent target: Mukherjee New Delhi, Sep 23: The Indian economy will grow more than 8.75 percent in the current fiscal helped by strong growth in the manufacturing sector, Finance Minister Pranab Mukherjee said today.
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Economy showing promise of double digit growth: Patil Kolkata, Sep 22: President Pratibha Patil today said the Indian economy is showing promise of a double-digit growth and called for concerted efforts on the part of all stakeholders to make it s....
Economy showing promise of double digit growth: Patil Kolkata, Sep 22: President Pratibha Patil today said the Indian economy is showing promise of a double-digit growth and called for concerted efforts on the part of all stakeholders to make it s....
Business must be socially responsible: Maharashtra Governor Mumbai, Sep 22: Companies must contribute to sustainable economic development to improve lives in ways that are good for business and for development, says Maharashtra Governor K. Sankaranaraya....
Rural non-agro economy growing faster than urban: Assocham New Delhi, Sep 17: The rural non-farming sector in India has been growing faster than that of the urban since early 1970s, says a report.
The report on "Comparative growth between....
Indian Economy to grow by 9 percent in 2011-12: Pranab Mukherjee New Delhi, Sep 16: The Indian economy is estimated to grow by 8.5 percent this fiscal and 9 percent in 2011-12, Finance Minister Pranab Mukherjee said today. "We have not revised our projec....
Conduct research on more financial inclusion: Pranab Kolkata, Sept 13: Urging bodies of eminence like the Indian Statistical Institute (ISI) to conduct research on facilitating more financial inclusion, union Finance Minster Pranab Mukherjee on S....
India can not go on a reverse growth path: Pranab Kolkata, Sep 12: Expressing concern over the rising food prices, union Finance Minister Pranab Mukherjee on Saturday said the Reserve Bank of India (RBI) will take appropriate measures but asse....
India to target 10% growth in 12th five-year plan New Delhi, Sept 11: India will target nearly 10 percent growth in the 12th five-year plan (fiscal 2012-17), even though growth may fall short during the current plan period, said Deputy Chairma....
India's economy grows by 8.8 percent in April-June quarter
New Delhi, Aug 31: The Indian economy grew at a faster rate of 8.8 percent in the first quarter of current fiscal as strong domestic demand resulted in a spurt of manufacturing activity, offici....
Inflationary pressures dropping, asserts RBI Governor Bangalore, Aug 27: Reserve Bank of India Governor D Subbarao has given assurance that inflationary pressures are finally lowering down hinting at India's economic growth gradually getting b....
All states for 3 percent fiscal deficit New Delhi, Aug 19: All states and union territories are expected to achieve 3 percent fiscal deficit latest by 2014-15 as part of fiscal consolidation, the Rajya Sabha was told today.
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Indian economy example for others to emulate: PM New Delhi, Aug 15: Prime Minister Manmohan Singh today said India was not only among the fastest-growing growing economies but an example for others as it achieved the feat despite drought and ....
No option was left but to hike fuel prices: PM New Delhi, Aug 15: Prime Minister Manmohan Singh today said no option was left but to hike prices of petroleum products, particularly since the cost of crude oil, of which India is a major imp....
Bridge infrastructural deficit: President New Delhi, Aug 14: President Pratibha Patil today called for speeding up of projects to fill the "infrastructural deficit" that impedes India's economic growth and was not in sync w....
54,637 reserved posts vacant New Delhi, Aug 11: A total of 54,637 Scheduled Caste, Scheduled Tribe and Other Backward Classes are vacant in central government ministries and departments.
Minister of State in the ....
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....
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....
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.
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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....
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.
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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 ....
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.
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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....
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.
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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....
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.
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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, 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.
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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.
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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....
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.
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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.
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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.
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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....
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 ....
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....
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....
