Economics

  • India likely to see weak economic growth, says OECD 08-04-2014 07:02 PM

    London: India and many major emerging economies are expected to see weak growth even as prospects have stabilised in most of the advanced countries, says a report by Paris-based think-tank OECD. Besides India, Brazil and Russia are likely to witness economic growth weakening whereas the prospects look better for China....
  • India's growth likely to recover to 5.4 per cent in 2014: IMF 08-04-2014 06:58 PM

    Supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects, India's growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, the IMF said on Tuesday. "India's growth is expected to recover from 4.4 per cent in...
  • Three smugglers arrested with 5.37 quintal ganja 03-04-2014 07:02 PM

    The Economic Offence Wing (EOW) has seized 5.37 quintals of ganja from a truck and arrested three persons from NH-30 on Patna-Fatuha Road in Bihar's Patna district, an official said on Thursday. Acting on a tip off, the EOW sleuths intercepted a truck on Patna-Fatuha Road last night and seized...
  • Development economist laments India's poor economic growth 01-04-2014 09:32 PM

    Development economist Jean Dreze on Tuesday expressed concern over India's tardy economic growth, which lagged behind neighbours like Nepal and Bangladesh in vital sectors. Dreze was delivering the ninth I.G. Khan Memorial Lecture on "Hunger and the Indian Enigma" at the Kennedy Auditorium of Aligarh Muslim University. Referring to the...
  • Chidambaram deteriorated a robust, healthy economy: Yashwant Sinha 30-03-2014 03:42 PM

    New Delhi: Attacking the Congress led UPA government on the economy front, the Bharatiya Janata Party on Sunday hit out at the Finance Minister P Chidambaram for India's weak economic condition. BJP leader and former finance minister Yashwant Sinha accused Chidambaram of deteriorating a robust and healthy economy. He, in...
  • 2.83 quintals of ganja seized in Patna, nine arrested 29-03-2014 07:18 PM

    2.83 quintals of ganja was seized from two vehicles and nine persons including the kingpin of the gang were arrested, police said in Patna on Saturday. The seizure was carried out by the Economic Offences Unit (EOU) and Special Task Force of the Bihar Police. "The gang procured huge consignments...
  • Govt engineer nabbed for accepting bribe in Bihar 26-03-2014 09:08 PM

    The Economic Offences Unit (EOU) of the Bihar Police, on Wednesday, caught an official of the Minor Water Resources Department red-handed while accepting a bribe. Minor Water Resources superintending engineer Sudarshan Singh, who was posted at Muzaffarpur tubewell circle, was arrested while accepting a bribe of Rs 10,000, EOU IG...
  • Modi to unveil BJP's economic agenda in a meet with India Inc today 27-02-2014 08:16 AM

    New Delhi: In a move to unveil the party's economic agenda, Bharatiya Janata Party (BJP) prime ministerial candidate Narendra Modi will be addressing heads of business, investors and bankers in the national capital on Thursday. The key highlights of the economic agenda in Modi's address will be the plan to...
  • Set economic agenda for polls: Assocham to political parties 21-02-2014 07:42 PM

    In view of the upcoming General Elections, industry body Assocham on Friday urged political parties to set an economic agenda to weed out corruption, develop infrastructure and usher financial reforms to create sufficient jobs through economic growth of 9 per cent. In a note submitted to the political parties for...
  • Focus on economic agenda to provide transparent,stable policies: BJP 21-02-2014 05:02 PM

    BJP's economic agenda will focus mainly on providing transparent and stable policies for investors, senior Bharatiya Janata Party leader Ravishankar Prasad said on Friday. Bharatiya Janata Party (BJP) is likely to unveil its economic agenda in the coming weeks. "Enabling atmosphere for India, where those who wish to invest can...
  • Samastipur block development officer's house raided over disproportionate assets 20-02-2014 07:29 PM

    The Economic Offences Unit (EOU) of police conducted a raid at the house of a Bihar government official over his disproportionate assets, an official said on Thursday. The EOU team raided the house of Ishwar Dayal, block development officer (BDO) of Mohiuddin Nagar in Samastipur district on Wednesday and seized...
  • Interim Budget: Government plans to boost PSU banks, may provide Rs 11,200 crore 17-02-2014 03:03 PM

    New Delhi: Finance Minister P Chidambaram on Monday proposed to infuse Rs 11,200 crore in public sector banks to enhance their capital in the next financial year. "In 2014-15, I propose to provide Rs 11,200 crore for capital infusion in public sector banks. They have opened 5,207 branches so far,...
  • Highlights of interim Budget 2014-2015 17-02-2014 01:45 PM

    New Delhi: In an election year, Finance Minister P Chidambaram presented an Interim Budget short of rhetoric and stuck to highlighting the Congress-led UPA Government's achievements of the last 10 years. Faced with a massive economic slowdown and staring at prospects of a Congress rout in the Lok Sabha elections,...
  • Budget 2014: Full text of P Chidambaram's speech on vote on account 17-02-2014 01:32 PM

    Finance Minister P Chidambaram on Monday refuted the allegations of policy paralysis saying the UPA-II has brought schemes and has contained the fiscal deficit. In the UPA-II's last budget before the 2014 Lok Sabha elections, Chidambaram said the UPA-I and UPA-II have delivered above the trend. Even as he announced...
  • Government to loan Rs 4.57 lakh crore to bridge fiscal deficit in 2014-15 17-02-2014 01:24 PM

    New Delhi: The government on Monday pegged its net borrowing for 2014-15 at Rs 4.57 lakh crore, Rs 11,580 crore less than the revised estimates of the current fiscal. "The net market borrowing of the Central Government in 2014-15 is estimated to be Rs 4,57,321 crore," as per the interim...
  • Budget 2014: FM cuts excise duty, woos youngsters, taxes unchanged 17-02-2014 01:05 PM

    New Delhi: In an election year, Finance Minister P Chidambaram presented an Interim Budget shorn of rhetoric and stuck to highlighting the Congress-led UPA Government's achievements of the last 10 years. Faced with a massive economic slowdown and staring at prospects of a Congress rout in the Lok Sabha elections,...
  • Budget 2014: Watch P Chidambaram's full speech on vote on account 17-02-2014 12:37 PM

    Finance Minister P Chidambaram on Monday refuted the allegations of policy paralysis saying the UPA-II has brought schemes and has contained the fiscal deficit. Chidambaram also announced excise cuts, leading to cars, mobile phones and two-wheelers getting cheaper even as not sops were announced. ...
  • No policy paralysis, Indian economy better placed today: Chidambaram 17-02-2014 12:36 PM

    New Delhi: Rejecting arguments of "policy paralysis", Finance Minister P Chidambaram on Monday said the economy is more stable than what it was two years ago following several steps taken by the government and that the growth will be higher in the second half of the fiscal. "Thanks to the...
  • Exchange rate has stabilised: Finance Minister 17-02-2014 12:19 PM

    New Delhi: The government on Monday said the Indian currency has fared better than those of other emerging economies and the exchange rate has stabilised. Risks to capital flows were accentuated due to volatile global conditions and the US Federal Reserve's announcement last May of tapering its fiscal stimulus had...
  • Will Telangana protests disrupt Chidambaram's Budget speech? 17-02-2014 10:38 AM

    Telangana protests have been rocking the Parliament ever since the second phase of Winter Session began. It needs to be seen if the Finance Minister's Budget speech would be disrupted over Telangana on Monday. ...
  • Budget 2014: As it happened 17-02-2014 10:19 AM

    New Delhi: 12:07 pm: Towards the end of his speech, Chidambaram says, "140 million moved out of poverty during UPA-I and UPA-II regime and we are legitimately proud of it." 12:05 pm: Excise duty on mobile handset will be 6 pc on CENVAT credit to encourage domestic production. 12:02 pm:...
  • 2014 Budget is Chidambaram's ninth, one short of Morarji Desai's record 17-02-2014 10:05 AM

    New Delhi: This is one annual exercise where Finance Minister P. Chidambaram will be just one behind former prime minister Morarji Desai. One is referring to the national budget, which is called for under Article 112 of the constitution, as an annual financial statement of the government to be laid...
  • Economic growth to cross 5 pc this financial year: PM 14-02-2014 08:59 PM

    New Delhi: Pinning hopes on the good monsoon and recent reforms, Prime Minister Manmohan Singh on Friday said economic growth will cross 5 per cent in the current financial year and accelerate further in the coming years. Addressing the Governors' Conference, Singh said the Indian economy, after many years of...
  • Gang involved in forgery in Railway recruitment busted 14-02-2014 09:47 AM

    The Bihar police on Thursday busted a gang involved in cheating money in the name of recruitment in Railway with arrest of three persons. The Economic Offence Wing of the state police has recovered papers of properties worth Rs 2.26 crore from kingpin of the racket identified as Satyendra Kumar...
  • Cabinet Committee on Economic Affairs clears rail lines in Jharkhand, Rajasthan 13-02-2014 12:09 AM

    The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the construction of two broad guage line between Pirpainti-Jasidih in Jharkhand and Ajmer and Sawai Madhopur via Tonk in Rajasthan. The line between Pirpainti-Jasidih situated in Mohanpur in Jharkhand will be constructed at a cost of Rs 915.96 crore. While...
  • The Last Word: What is the true state of Indian economy? 10-02-2014 09:05 PM

    Finance Minister P Chidambaram on Saturday expressed confidence that the economic growth rate for the current financial year will be revised to not less than 5 per cent. Growth in 2012-13 slipped to a decade-low of 4.5 per cent. The economy expanded 4.6 per cent in the first half (April-September)...
  • Growth will not be less than 5 pc in 2013-14, says Chidambaram 08-02-2014 05:05 PM

    New Delhi: Finance Minister P Chidambaram on Saturday expressed confidence that the economic growth rate for the current financial year will be revised to not less than 5 per cent. "I am confident that the final estimate will be not less than 5 per cent for the whole year," Chidambaram...
  • State's GDP to grow at 7.05 per cent in 2013-14: Survey 08-02-2014 08:39 AM

    Chhattisgarh is expected to grow at 7.05 per cent in 2013-14 fiscal, the state economic survey tabled in the assembly on Friday said. As per the survey, the state's per capita income is likely to attain the level of Rs 56,990 in 2013-14. Chief Minister Raman Singh, who also hold...
  • India's economic growth pegged at 4.9 pc in 2013-14 07-02-2014 09:18 PM

    New Delhi: India's economic growth rate in the current financial year has been estimated at 4.9 per cent, a faster pace than in the previous year, mainly on an improved performance in the agriculture and allied sectors. "The growth in GDP during 2013-14 is estimated at 4.9 per cent as...
  • Anti-corruption unit detects Rs 4.86 crore disproportionate assets of Jr Engineer 07-02-2014 08:32 PM

    The anti-corruption unit of Bihar Police has detected documents of disproportionate assets to the tune of Rs 4.86 crore allegedly belonging to a Junior Engineer of a state government undertaking, an officer said on Friday. Acting on a tip-off, the Economic Offence Wing (EOW) carried out search at Sunil Kumar's...