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Economy News

Secretaries panel to review gas price formula The Cabinet Committee on Economic Affairs had on June 25 deferred by three months the implementation of the Rangarajan formula that would have doubled gas price to USD 8.4 per million British thermal unit.
Fri, 22 Aug 2014 19:12:21 +0530
India's steel production grows by 1.7% in July World Steel Association's latest figures showed global steel production grew on an average of 1.7 percent in July. India's production also grew by 1.7 percent to 6.96 million tonnes from 6.84 MT a year ago.
Fri, 22 Aug 2014 18:33:52 +0530
Vivek Rajpal RBI has announced a new framework to meet the overnight cash requirement of banks. It has not changed the amount of money it is making available to banks but is lending it in many tranches.
Fri, 22 Aug 2014 16:37:12 +0530
Policy on swapping of coal linkages on cards The development comes at a time when the demand-supply gap of coal is widening in the country.
Fri, 22 Aug 2014 16:20:28 +0530
As trust deficit is over, GST will be reality soon: Guj FM Rejecting allegations by the previous UPA regime that Gujarat was hampering progress on Goods and Services Tax, the state Finance Minister Saurabh Patel said several states including Congress ruled ones had issues and did not have faith in the then central government addressing them.
Fri, 22 Aug 2014 15:49:25 +0530
Arvind Subramanian likely to be chief econ adviser If confirmed, the appointment would bring in a second economist of international renown to a key policy post following the naming of former International Monetary Fund chief economist Raghuram Rajan as RBI chief last year.
Fri, 22 Aug 2014 13:43:23 +0530
RBI to conduct frequent term repos for easy cash management The RBI said it would conduct 14-day term repo auctions four times during a two-weekly reporting cycle, or every Tuesday and Friday, from September 5.
Fri, 22 Aug 2014 13:38:31 +0530
Indranil Sengupta Indranil Sengupta believes there are risks to 4.1% fiscal deficit target for FY15 as tax revenue projections look ambitious. But he does not think the government's borrowing programme is at risk.
Fri, 22 Aug 2014 10:44:16 +0530
Gary Lau According to Gary Lau, government reforms playing through will lead to pick ups in demand and steel growth in the country.
Fri, 22 Aug 2014 10:09:57 +0530
See no big impact of low rain on growth, farm output: RBI In its annual report for 2013-14 released today, the RBI said even if the rainfall is normal in rest of the monsoon season (June to September), some deficiency will stay but it will not have a debilitating impact on the economy.
Fri, 22 Aug 2014 08:11:04 +0530
India's exports to reach $750 bn by 2018-19: FIEO Slowdown in these western markets have severely impacted India's outbound shipments. The country's exports in the last three years have been hovering at USD 300 billion.
Thu, 21 Aug 2014 21:02:00 +0530
Falling crude, LNG, coal prices huge positive: Crisil Between fiscals 2009 and 2014, India's energy import bill surged at an average 14 percent annually to USD 161 billion. This is expected to rise only 1.6 percent annually to USD 175 billion by 2019 because prices of the three commodities are forecast to decline.
Thu, 21 Aug 2014 19:42:28 +0530
RBI, govt working to regulate illegal money taking entities The Reserve Bank is working with the government to bring about changes in the law to regulate the entities who are illegally accepting deposits from the public, Deputy Governor R Gandhi said today.
Thu, 21 Aug 2014 19:25:43 +0530
Arun Jaitley Without specifying names of banks, the Finance Minister said "some recent incidences have been disturbing. I only hope that they are drop in the ocean. We have all learnt the lessons from such incidents, and there will be no repetition of them."
Thu, 21 Aug 2014 16:12:24 +0530
Govt clears steps on gas price pooling for power plants The government will exclude those gas-based plants, which are currently receiving APM gas from pooling. The price of gas under the APM is set by the government.
Thu, 21 Aug 2014 15:47:24 +0530
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Politics

The Haryana CM met Narendra Modi at his residence and discussed development issues relating to the state.
Kapil Sibal submitted that there is no concealment or suppression of such contribution which were duly reflected in the returns submitted to the Election Commission.
After the Union Finance Minister Arun Jaitley termed the 16 December gangrape case as 'small' incident, the Congress came down heavily on BJP.
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India

The Haryana CM met Narendra Modi at his residence and discussed development issues relating to the state.
The Home Minister said the next of kin of all those killed in the tragedy will be given Rs 1.5 lakh as compensation.
Rajesh Mahajan, appearing for the police, said "the brutality of the crime not only lies in the manner of its execution but also in its conception".
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Tech

Sapphire is more durable and scratch-resistant than typical glass display covers. Apple is also considering using sapphire in some new iPhone models.
The upcoming update to the Windows operating system is codenamed 'Threshold'.
The laser passes through the skin cells, without causing damage, and is partially absorbed by the sugar molecules in the patient's body.
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