Economy

  • Delays in project completion hampering growth, says C Rangarajan January 10, 2014

    Concerned over declining growth rate, Prime Minister's key economic advisor on today called for faster implementation of large projects to spur investments. "Economic growth has in fact declined much more steeply than what is warranted by the decline in investment. This might be because projects have not been completed in time...
  • Sensex edges higher; tech stocks surge January 10, 2014

    Mumbai: The BSE Sensex provisionally edged up on Friday after earlier hitting its highest intraday level in nearly a week as stocks of software exporters rose after Infosys Ltd's quarterly earnings beat market expectations. Infosys provisionally rose 3.1 per cent, while Tata Consultancy Services ended 2.1 per cent higher. The Sensex provisionally...
  • Expect 5 per cent economic growth in 2013-14: Manmohan Singh January 8, 2014

    India's economic growth in the current fiscal year will likely remain flat at 5 per cent, Prime Minister Manmohan Singh said on Wednesday. Singh's forecast is more optimistic than those of several private economists, who are predicting growth in the year to March 2014 to slip below 5 per cent. Pace of...
  • Ideas 2014: Leftism, Rightism don't make sense now, says Yogendra Yadav January 8, 2014

    New Delhi: Defending Aam Aadmi Party's aversion to private agencies Yogendra Yadav said that the markets are the way to go. After the Arvind Kejriwal government in Delhi announced subsidised water and electricity, many have said that the AAP is a Left-Of-Centre socialist party. However, Yadav said that his party...
  • AAP's anti-graft promise difficult goal to achieve: American scholar January 8, 2014

    The AAP's promise to sweep away corruption from the Indian political system is a "difficult" goal to achieve, says American political scientist John Echeverri-Gent. Fighting corruption needs stronger legislative tools, and just by forming a government in Delhi, the Aam Aadmi Party was not likely to reduce corruption, he said. Echeverri-Gent,...
  • Sensex falls for fifth day; plunges 94 points January 7, 2014

    Mumbai: Sliding for the fifth straight day, the Sensex on Tuesday wiped out initial gains to end 94 points down at its lowest levels in three weeks on a bout of late selling in bluechips including Infosys, RIL and Tata Steel. The Bombay Stock Exchange 30-share gauge after opening on a...
  • Rupee ends at 62.30 vs USD January 7, 2014

    Mumbai: The rupee recovered from losses after trading in a narrow range on Tuesday and closed one paisa higher at 62.30 against the dollar as exporters sold the US currency, which was stable overseas. Bearish local equities and capital outflows constrained the rupee, a forex dealer said. The rupee opened lower at...
  • China records weakest GDP growth in 2013 since 1999 January 6, 2014

    China's economy, the world's second largest, may have grown around 7.6 per cent in 2013, its weakest growth since 1999, with latest economic figures indicating sluggish economic activities in the last quarter. China's latest economic figures, especially the purchasing managers' index (PMI) in both factory activity and the services sector, indicated...
  • Rupee closes at 62.31, down 15 paise January 6, 2014

    Mumbai: The rupee fell 15 paise to close at a five-week low of 62.31 against the dollar on Monday amid bearish local stocks and importer demand for the US currency. Capital outflows from the equity market aided the rupee's decline, while a weakening dollar overseas helped the rupee to come...
  • Rupee has first gain in New Year, up 10 paise to 62.16 vs $ January 3, 2014

    The rupee bounced back from a one-month low to post its first gain in the New Year, rising 10 paise to close at 62.16 against the dollar on Friday after the RBI was said to have sold the US currency. Strong foreign fund inflows into stocks and a recovery in local...
  • Rupee falls to two-week low, closes at 62.26 vs US Dollar January 2, 2014

    The rupee fell to a two-week low on Thursday, posting a second consecutive decline, hurt by the biggest falls in stocks in six weeks and dollar demand from a large corporate. The weak start to the year comes ahead of key events later this month, including inflation data due mid-month that...
  • Rupee up 5 paise against dollar in early trade December 31, 2013

    Mumbai: The rupee on Tuesday gained 5 paise to 61.86 against the dollar in early trade at the Interbank Foreign Exchange market on increased selling of the US currency by exporters. Forex dealers said strengthening of other currencies against the dollar overseas and a higher opening in the equity market also...
  • Sensex, Nifty gain; Bank Nifty strong, Sesa Sterlite up 3 pc December 30, 2013

    Mumbai: The market ended on a negative note. The Sensex ended down 50.57 points at 21143.01, and the Nifty closed 22.70 points lower at 6291.10. About 1362 shares advanced, 1138 shares declined, and 148 shares were unchanged. The Indian markets dip into the red after a positive opening. The Sensex is...
  • India to be world's 3rd largest economy by 2028 after China,US: Survey December 27, 2013

    India is likely to overtake Japan in 2028 to become the third largest economy in the world after China and United States, according to London-based economic consultancy Cebr. As per Cebr's World Economic League table report for 2013, India has lost a place in the league table in 2013 to Canada...
  • RBI Governor meets Chidambaram, discusses economic situation December 26, 2013

    "We exchanged our views on the current macroeconomic situation," Rajan told reporters after the meeting, which was also attended by Department of Economic Affairs Secretary Arvind Mayaram. Rajan had surprised the markets by leaving all key policy rates unchanged at the mid-quarter policy review on December 18, notwithstanding persistent high inflationary...
  • Sensex surges over 371 points to end at 21,079.72 December 20, 2013

    Mumbai: Shrugging off fears linked to a trimmed US stimulus, the Sensex on Friday shot up by 371.10 points - its best gain in nearly a month - on account of smart jump in RIL on government nod for higher gas prices and good buying in bluechips from banking, IT and auto...
  • Rupee rises 10 paise to close at 62.04 versus US dollar December 20, 2013

    Mumbai: The rupee slipped in the early trade today. It has opened lower by 27 paise at 62.39 per dollar versus 62.12 Thursday. The dollar index gains to 80.7 levels, while the euro is a tad subdued and the yen faces pressure in early trade ahead of the outcome of...
  • Despite economic slowdown, India's exports to US, Europe rise December 18, 2013

    Despite global economic slowdown, India's exports to the US and Europe have grown in the first seven months of the current fiscal year, government data showed Wednesday. "In the first seven months of current fiscal year, 2013-14 exports to Europe and the US have increased in comparison to the corresponding period...
  • Growth expected to improve in second half of 2013-14: RBI December 18, 2013

    The Reserve Bank on Wednesday said it expects economic growth to improve in the second half of this financial year on the back of expansion in the agriculture sector, exports and movement in stalled projects. Addressing a media conference, RBI Governor Raghuram Rajan said he would stick with the earlier 5...
  • November WPI inflation rises to 14-month high of 7.52 per cent December 16, 2013

    New Delhi: Costly vegetables, particularly potato and onion, pushed the November wholesale inflation to a 14-month high of 7.52 per cent, making it difficult for the Reserve Bank to ease key policy rate. Vegetable prices shot up by 95.25 per cent in November as compared to 78.38 per cent in the...
  • Sensex down 56 points to 2-weak low, WPI data raises rate hike risk December 16, 2013

    Mumbai: Falling for the fifth day in a row, the benchmark Sensex on Monday dropped by 56 points to end at over two-week low as November WPI inflation data cemented fears of a rate hike by the RBI in its policy review meeting this week. Oil & gas, auto and FMCG...
  • Sensex down 210 pts on RBI rate hike, US taper fears December 13, 2013

    Mumbai: Across-the-board selling today on mounting speculation that the RBI will hike interest rate and the US Fed will trim its economic stimulus next week shaved off over 210 points of benchmark Sensex, which posted its biggest weekly loss in five. Investor wealth fell by Rs 75,000 crore as overall 1,575...
  • Sensex falls 84 points to end at 21,171.41 December 11, 2013

    Mumbai: Sensex fell 84 points to end at 21,171.41 on Wednesday. The market fell further in early trade on Wednesday following weakness in global equities as investors are cautious ahead of Fed meeting and RBI policy next week. The Sensex slipped 101.18 points to 21,154.08, and the Nifty declined 29.50 points...
  • Sensex, Nifty hit record highs after BJP sweeps Assembly polls December 9, 2013

    Mumbai: The Sensex and Nifty on Monday surged to new lifetime highs on all-round buying after the BJP swept three out of 4 state polls and boosted hopes that a new government in 2014 general elections would be more business-friendly. The BSE Sensex ended at closing high of 21,326.42 with a...
  • Sensex gains for second week; lenders rise December 6, 2013

    Mumbai: The BSE Sensex and the Nifty rose on Friday to their highest close in more than a month, extending gains for a second consecutive session on hopes state elections results on Sunday will show strong support for the main opposition party ahead of general polls due next year. Blue chips...
  • Rupee closes higher by 34 paise or 0.55 per cent at 61.41 against US dollar December 6, 2013

    Mumbai: The rupee ruled firm for the third consecutive day and moved up 34 paise to 61.41 against the dollar on Friday, the highest level in more than five weeks, on sales of the US currency by banks and exporters amid foreign capital inflows into the local equity market. The rupee...
  • Rupee hits fresh 1-month high, up 30 paise vs dollar December 5, 2013

    Mumbai: The rupee on Thursday rose by 30 paise to trade at fresh one-month high of 61.75 against the dollar in early trade at the Interbank Foreign Exchange market on increased selling of the US currency by exporters, amid sustained foreign capital inflows. Strengthening of other currencies against the dollar overseas and...
  • Rupee closes at 62.36 vs US dollar, down 5 paise December 3, 2013

    Mumbai: The rupee on Tuesday closed by 10 paise to trade at 62.36 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from oil importers. Forex dealers said besides dollar's gains against euro and yen overseas after better-than-expected manufacturing...
  • Diesel price hiked by 50 paise per litre from Saturday midnight November 30, 2013

    New Delhi: Diesel prices have been hiked by 50 paisa per litre, excluding VAT, with effect from Saturday midnight. The prices of petrol, however, remains unchanged. The price increase, the 11th since January, excludes local sales tax or VAT, oil companies announced. The price of diesel in Delhi will be hiked...
  • GDP grows better than expected, 4.8 per cent in September quarter November 30, 2013

    An expansion in farm output and some infrastructure helped the economy recover slightly in the September quarter, but growth still hovered close to decade lows, tempering hopes of a sustained rebound ahead of elections due next year. September's figure of 4.8 per cent was the fourth successive quarter of economic growth...