New Delhi: In a politically and economically crucial and bold decision the government on Tuesday informed Parliament that it was willing to decontrol diesel prices. The government in a written reply told the Rajya Sabha that the decision to decontrol diesel prices has been taken in principle. However, the government added that retail selling prices would be moderated to insulate the common people. The decision comes just two days after...
01:48 PM, Apr 24, 2012
The PM's Economic Advisor, Kaushik Basu, said on Friday that economic reforms were unlikely in India before the 2014 polls. ...
12:07 PM, Apr 20, 2012
New Delhi: Prime Minister Manmohan Singh on Saturday said the Indian economy was facing "difficulties" but expressed hope that the challenges will be overcome. "There are difficulties. Life will not be worth living if there are no difficulties. I am confident with great determination, we will overcome (these)," Singh said in his brief intervention at a panel discussion here this evening. The Prime Minister was the chief guest at a...
09:12 PM, Apr 14, 2012
New Delhi: The government plans to raise India's share in the global foreign direct investment (FDI) to 5 per cent by 2017 by streamlining policies for attracting investments. The Department of Industrial Policy and Promotion (DIPP) has set a goal "to increase FDI inflows to India by improving its global share from 1.3 per cent in 2007 to 5 per cent by 2017". A report of the DIPP said that...
11:52 AM, Apr 08, 2012
New Delhi: Expecting a GDP growth of about 7 per cent in 2012-13, India Inc on Thursday called for implementation of economic reforms and fiscal consolidation. "Domestic factors are more important for India's GDP growth and global conditions play only a marginal role. Therefore, greater attention is needed on implementing reforms," Ficci Secretary General Rajiv Kumar said. The chamber expects that the GDP growth in 2012-13 would be around 7...
04:55 PM, Mar 15, 2012
New Delhi: A day before the Union Budget to be presented in Parliament, as is customary, the Finance Ministry will release the Economic Survey outlook, its view on the state of the economy on Thursday. The report is likely to suggest measures to kickstart a double-digit economic growth and present a wishlist for the Indian economy. The economy is expected to hit 6.9 per cent growth for 2011-2012, the slowest...
07:17 AM, Mar 15, 2012
I do not minimise the difficulties that lie ahead on the long and arduous journey on which we have embarked. But as Victor Hugo once said, "no power on earth can stop an idea whose time has come". I suggest to this august House that the emergence of India as a major economic power in the world happens to be one such idea. Let the whole world hear it loud...
04:03 PM, Feb 03, 2012
Watch the discussion on politics, economy and social issues that will be influential in the new year. ...
11:53 PM, Jan 02, 2012
New Delhi: Finance Minister Pranab Mukherjee on Saturday said there was no proposal to raise duties to make up any shortfall in tax revenues, as has been speculated in the past couple of days. While addressing a CII function on two decades of Economic Reforms, he sought to allay apprehensions in the corporate sector that economic reforms have come to a halt. It is true that sometimes the process of...
07:27 PM, Aug 06, 2011
Two things happened twenty years ago. Manmohan Singh was brought from Genevas economic think-tank South Centre and appointed finance minister in a deal forced upon India by the International Monetary Fund (IMF) when the agency was approached to bail the nation out of its debt crisis. Singh supervised the transition of India from a socialist-democracy to a capitalist market economy, a process often referred to as liberalization-globalization. Two decades later,...
02:41 PM, Aug 01, 2011
It's been 20 years since Manmohan Singh opened up Indian economy and freed up Indian entrepreneurship. In 1991, when Singh became the finance minister in the PV Narasimha Rao-led Congress government, the country was close to bankruptcy and had mortgaged its gold to pay for loan installments. India's fiscal deficit in 1991 was close to 8.5 per cent of GDP and the balance of payments deficit was huge. The Government...
10:12 AM, Jul 22, 2011
It's been 20 years since Manmohan Singh opened up Indian economy and freed up Indian entrepreneurship. In 1991, when Singh became the finance minister in the PV Narasimha Rao-led Congress government, the country was close to bankruptcy and had mortgaged its gold to pay for loan installments. India's fiscal deficit in 1991 was close to 8.5 per cent of GDP and the balance of payments deficit was huge. The Government...
09:57 AM, Jul 21, 2011
In 1991, when Manmohan Singh became the finance minister in the PV Narasimha Rao-led Congress government, the country was close to bankruptcy and had mortgaged its gold to pay for loan installments. India's fiscal deficit in 1991 was close to 8.5 per cent of GDP and the balance of payments deficit was huge. The Government had to choose between continuing with its populist socialist economic structure or pursuing reforms at...
10:24 AM, Jul 20, 2011
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