Economic Reforms

  • High expectations of industry, middle class from Jaitley's maiden Budget July 9, 2014

    New Delhi: Amid high expectations from the middle class and industry, Finance Minister Arun Jaitley will present his maiden budget on Thursday that may contain tax sops for the salaried, dumping of the controversial retrospective tax and spelling out steps to revive investment and manufacturing for growth. There are high hopes...
  • John Kerry meets Pakistan PM's Spl Advisor Sartaj Aziz July 3, 2013

    Washington: The US on Tuesday said that Pakistan's continued close cooperation is important to facilitate an Afghan-led peace process. Secretary of State John Kerry and Pakistan Prime Minister's Special Adviser on Foreign Affairs Sartaj Aziz met in Brunei on the sidelines of ASEAN Regional Forum meeting and discussed Pakistan's plan...
  • Govt focussing on growth at the cost of people: Aruna Roy May 30, 2013

    New Delhi: Social activist Aruna Roy, who has decided to dissociate herself from Sonia Gandhi-led National Advisory Council, on Thursday hit out at government saying it was focussing on economic reforms and growth at the cost of poor people. Roy, who has attacked the Prime Minister for...
  • China president takes charge of sweeping economic reforms May 17, 2013

    Beijing: Chinese President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalise the economy, sources close to the government said, shunning policy stimulus for fear it could worsen local government debt and inflate property prices. A consensus had been reached among top leaders that reforms would be...
  • Govt to work for passage of pending bills: Chidambaram May 1, 2013

    New Delhi: With the Lok Sabha passing the Finance Bill and Demands for Grants for various ministries, Government on Tuesday said it will continue with its efforts for passage of other bills on food security and land acquisition, which are "equally important". "I don't think it is correct to say...
  • Finance Bill likely to be passed in Lok Sabha today April 30, 2013

    New Delhi: Despite the political deadlock over the coal scam, the key Finance Bill is likely to be passed in Lok Sabha on Tuesday. A temporary truce has been achieved between the government and the opposition to pass the money bills. The crucial Finance Bill can't be delayed beyond Tuesday as...
  • Economic reform agenda runs into political hurdle April 29, 2013

    New Delhi: A Parliament deadlocked yet again over corruption scandals threatens Finance Minister P Chidambaram's ambitious reform agenda, dealing a harsh dose of political reality on the heels of his North American roadshow to sell the India story. Two long-stalled reforms - one to lift the foreign ownership cap in...
  • More reforms in next 2 to 4 months: Chidambaram April 24, 2013

    New Delhi: Committing to carry forward the economic reforms programme in the remaining term of UPA-II, Finance Minister P Chidambaram on Wednesday said the government will take more executive actions in the next two to four months and sought cooperation of the main opposition party to push through important bills...
  • Govt will continue with economic reforms: Chidambaram March 20, 2013

    New Delhi: Undeterred by adverse political developments, Finance Minister P Chidambaram on Wednesday said there will be no let up in the government's efforts to continue with the economic reforms and he will go ahead with his meetings with foreign investors to persuade them to invest in India. ...
  • US lawmakers call for more economic reforms in India March 14, 2013

    Washington: Describing the current economic atmosphere in India as "deeply troubling", top American lawmakers and experts on Wednesday said the country needs to take urgent steps towards the next phase of reforms to boost economic growth. At a Congressional hearing on "US-India Trade Relations" by the House Ways and Means Trade...
  • Have UPA-II and reforms got a new lease of life? December 7, 2012

    The UPA government managed to win the FDI in retail battle in both the Houses of Parliament. ...
  • After FDI win, UPA gears up for more economic reforms December 7, 2012

    Having won the vote on FDI in retail in Parliament, the UPA sees it as a referendum on its reform zeal. ...
  • More economic reforms bills in Parliament: Kamal Nath December 7, 2012

    New Delhi: Buoyed by the victory on the foreign direct investment (FDI) issue in Parliament, the government on Friday said it would bring more bills in coming weeks for ushering in economic reforms. "Certainly, we are going to bring in more legislation in coming weeks in Parliament (financial bills) and...
  • 'Economy not football that can be kicked around' November 24, 2012

    Mumbai: Amid logjam in Parliament, Finance Minister P Chidambaram on Saturday sought support of the Opposition in pushing through economic reforms, saying economy is not a football that can be kicked around by political parties. "Economic welfare of the country is bipartisan and must be kept above politics.. economics is...
  • Obama invites Nooyi for consultations on economy November 13, 2012

    Washington: US President Barack Obama has invited at least three Indian-Americans, including PepsiCo CEO Indra Nooyi, as part of his wider consultations with leaders from business, labour, civic community and Congress on the current economic crisis. Neera Tandon, president of the Centre for American Progress, an eminent US think-tank based in...
  • UPA should seek Parliament's approval for reforms: BJP October 15, 2012

    Hyderabad: BJP on Sunday demanded that the UPA government should seek approval of Parliament for reforms like allowing FDI in pension and insurance sectors. Senior BJP leader M Venkaiah Naidu termed the FDI in retail, pension and insurance sectors as anti-poor and anti-farmers and asked the Congress-led UPA government not...
  • High interest rates hurt everyone, says Chidambaram October 14, 2012

    Tokyo: The Reserve Bank and the government must work in tandem to bring down interest rates, Finance Minister P Chidambaram said, while emphasising that high rates hurt everyone. "Fiscal policy and monetary policy should work in tandem to stabilise the exchange rate as well to bring down interest rates," he...
  • Chidambaram calls for 'calibrated risks' from RBI October 14, 2012

    Tokyo: Finance Minister Palaniappan Chidambaram called on Saturday for the Reserve Bank of India (RBI) to take "calibrated risks" to support the struggling economy as a reciprocal measure to government fiscal efforts. In an interview with Reuters, Chidambaram said the government was committed to "fiscal correction", a nod to rating agencies...
  • FDI in retail meant to serve global supermarkets: Ramdev October 13, 2012

    Dehradun: The move of inviting FDI in retail sector is designed to serve the interest of global supermarkets, yoga guru Ramdev on Friday alleged and appealed people to dislodge the UPA government in the upcoming General elections. "The move is designed to serve the interest of global supermarkets. If people...
  • Don't be hasty in economic reforms: Karunanidhi October 13, 2012

    Chennai: DMK President M Karunanidhi on Friday urged the union government not to take hasty decisions in the name of economic reforms. He was referring to setting up the National Investment Board (NIB) to fast-track projects with an investment of Rs 1,000 crore and above. In a statement, Karunanidhi cited media...
  • India faces rating cut risk despite reforms: S&P October 10, 2012

    Mumbai: Ratings agency Standard & Poor's warned that India still faced a one-in-three chance of a credit rating downgrade within the next 24 months despite a new drive for economic reform that was launched in September. "A downgrade is likely if the country's economic growth prospects dim, its external position...
  • India's reform measures very significant: US Treasury Secy October 9, 2012

    New Delhi: India's recent reform measures are "very significant" and will fuel private investment in the economy, US Treasury Secretary Timothy Geithner said during a visit to New Delhi on Tuesday. India has announced a series of measures, including raising the price of subsidised fuel and opening the retail sector to...
  • UPA will give pension money to foreigners: Mamata October 4, 2012

    Kolkata: The Trinamool Congress has attacked the government over introducing foreign direct investment (FDI) in pension and increasing the FDI cap in insurance. The party led by West Bengal Chief Minister Mamata Banerjee has reiterated that it will oppose the move by the government in Parliament. Speaking to mediapersons, Trinamool Congress...
  • We are giving voice to 'aam aadmi': Trinamool Congress October 2, 2012

    New Delhi: The Trinamool Congress rally on Monday was against the government's recent economic reforms and was aimed at giving voice to the 'aam aadmi', the party said as the government clarified that the decisions it had taken were necessary for growth. "It is not a dharna, it is a protest...
  • FDI decision helped rupee to bounce back: RBI October 1, 2012

    Beijing: India's decision to allow 51 per cent FDI in multi-brand retail has improved the market sentiment and helped the rupee to rebound, RBI Deputy Governor Anand Sinha said on Sunday. "On the positive side, it (FDI in retail) improved sentiment as was shown in the market. Rupee has rebounded...
  • Economic reforms not a one-off process, says PM September 30, 2012

    New Delhi: Signalling the Congress-led UPA's intention to continue with decisions to revive high GDP growth, Prime Minister Manmohan Singh on Saturday said economic reforms was not a "once for all process" and the government will do what was good for the country. Speaking to reporters at Rashtrapti Bhawan after the...
  • PM rubbishes Modi's allegation, says US doesn't dictate India September 29, 2012

    Manmohan Singh's statements come in the wake of a public speech by Gujarat Chief Minister Narendra Modi wherein he questioned the PM and his government over the proposed reforms. ...
  • US has nothing to do with reforms: PM Manmohan Singh September 29, 2012

    New Delhi: Taking on the Opposition, Prime Minister Manmohan Singh on Saturday made it clear that the "ongoing" reforms process was here to stay. Speaking to reporters, Singh questioned, "What has America got to do with reforms in India?" before adding that India was an independent country and could not...
  • India's current account deficit at USD 16.4 bn September 29, 2012

    India's current account deficit for the April-June quarter came in at USD16.4 billion, lower than another USD 17.4 billion in the first quarter of last year as well as lower than the USD 21.7 billion in the previous quarter, (Q4FY12). As a percentage of the gross domestic product (GDP) the...
  • How Sonia Gandhi was persuaded to back reforms September 27, 2012

    New Delhi: It had been a brutal August for the Congress party: economic growth was wilting, the monsoon rains were failing and the opposition had it cornered on yet another corruption scandal. In stepped Sonia Gandhi to revive the morale of the ruling party's lawmakers, exhorting them at a meeting to...