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Economy News

Coal mines auction policy and methodology being revisited The Ministry said that the IMC may consist of the ministries of power, steel, law and Department of Industrial Policy and Promotion.
Wed, 01 Oct 2014 14:57:30 +0530
India to grow 5.6% this fiscal, 6.5% in FY'16: Fitch Fitch expects GDP growth to pick up to 5.6 percent in FY15 (ending in March) and 6.5 percent in both FY16 and FY17, the agency said in its global economic outlook report.
Wed, 01 Oct 2014 14:56:13 +0530
Subir Gokarn In an interview to CNBC-TV18, Subir Gokarn, Director of Research, Brookings India, said Governor Rajan has maintained the consistency of his message of inflation being the top priority.
Wed, 01 Oct 2014 12:27:22 +0530
Factories expanded slowest in Sept this year: HSBC PMI The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, fell to 51.0 in September from 52.4 in August but sustained above the 50 mark for the eleventh month. A reading above 50 separates growth from contraction.
Wed, 01 Oct 2014 11:03:21 +0530
Latha Venkatesh The RBI today released what comes closest to an inflation report, along with the monetary policy statement. CNBC-TV18's Latha Venkatesh has details about the model that the RBI is going to work with and the scenarios that it painted in terms of what could change its projections for growth and inflation over the next 18 months.
Tue, 30 Sep 2014 21:58:22 +0530
Non-subsidised LPG cylinder price cut by Rs 21; ATF 3% A non-subsidised 14.2-kg cooking gas cylinder will now cost Rs 880, down from Rs 901, in Delhi, according to Indian Oil Corp (IOC).
Tue, 30 Sep 2014 21:38:44 +0530
Petrol price cut by 65p;diesel rate to wait for PM's return State-owned oil firms, which skipped raising rates on September 16 even though their cost had gone up, cut prices in view of the downward trend in international markets. Petrol price was reduced by 54 paisa a litre without including local sales tax or VAT, with effect from midnight tonight.
Tue, 30 Sep 2014 21:07:16 +0530
Raghuram Rajan In his bi-monthly monetary policy announced today, Rajan kept rates unchanged but sounded caution as far as meeting the 2016 consumer price index (CPI) target of 6 percent is concerned.
Tue, 30 Sep 2014 19:38:00 +0530
Raghuram Rajan He was replying to a specific question on bankers saying that they may ask for some flexibility from RBI in showing some "regulatory forbearance" in the face of the Supreme Court order last week.
Tue, 30 Sep 2014 17:58:33 +0530
August core sector growth inches to 5.8% Growth in the coal output was up 13.4 percent against 6.2 percent month-on-month. The government April-August core industries growth came in at 4.4 percent (YoY)
Tue, 30 Sep 2014 17:21:04 +0530
Arundhati Bhattacharya Arundhati Bhattacharya, Chairman, State Bank of India says there is a disinflationary trend that is now getting entrenched. On liquidity coverage ratio (LCR), the Reserve Bank's stance will bring a lot of comfort and relief, she adds.
Tue, 30 Sep 2014 16:32:42 +0530
Final norms on small, payments banks by November: RBI The final norms will allow micro finance institutions, telecom players, non-banking finance companies (NBFCs) and public sector companies eligible to apply for bank licences once RBI invites applications for the same.
Tue, 30 Sep 2014 16:13:46 +0530
Rashesh Shah The RBI Governor Raghuram Rajan stayed put on the key policy rates in his fourth bi-monthly credit policy review today but sounded caution as far as meeting 2016 inflation target was concerned. The apex bank retained the growth projection for FY15 at 5.5 percent and forecasts FY16 growth at 6.3 percent.
Tue, 30 Sep 2014 16:12:02 +0530
Tweaking wilful defaulter definition to cover directors:RBI According to the current definition, a wilful defaulter is somebody who has essentially not used the fund for the purpose it has been borrowed or when he has not repaid when he can do so; when he has siphoned off the funds or when he disposed of the assets pledged for availing of loan without the bank's knowledge.
Tue, 30 Sep 2014 15:54:10 +0530
Panel to formulate policy on coal rejects to meet next week The government is mulling framing a policy on coal rejects amid country's more than half of power plants facing critical fuel shortages.
Tue, 30 Sep 2014 15:23:10 +0530
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Politics

"In the history of India, there has been no other Prime Minister like Atal Bihari Vajpayee. Nobody can imagine the degree of respect Vajpayee got," Advani said.
Kejriwal, along with his party's volunteers, will take part in the clean-up campaign at BR Camp in the Race Course road area.
Bihar CM Jitan Ram Manjhi had claimed that a village temple located in Madhubani district was washed after his visit.
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India

Catch the day's top stories on India @ 9 with Anubha Bhonsle.
Around 2,700 students from 44 government schools will read from the 'pledge paper' along with the Prime Minister at India Gate.
Kejriwal, along with his party's volunteers, will take part in the clean-up campaign at BR Camp in the Race Course road area.
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Tech

The Xolo Q2100 has a 5.5-inch HD IPS display, quad-core 1.3 GHz CPU, and an 8 megapixel rear camera.
With this new app, children can snap together graphical programming blocks to make characters and other elements in their project move, jump, talk and change size.
PayPal's impending split from long-time partner eBay will ratchet up its appeal to online retail competitors such as Amazon.com.
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