Economy

  • Five challenges for Narendra Modi's new government May 18, 2014

    A landslide election victory for Narendra Modi's Bharatiya Janata Party (BJP) has created euphoria in India's financial markets, driving shares to life-time highs and the rupee to its strongest level against the dollar in 11 months. After a decade in opposition, the BJP has promised to repair an economy growing at...
  • RBI to launch plastic notes in 2015 after field trials May 15, 2014

    Shimla: Plastic currency notes would be launched in the country in 2015 after field trials, Reserve Bank Governor Raghuram Rajan said on Thursday. "Plastic notes are coming. Tender bids have come for one billion notes. In five cities, pilot testing would be done, including Shimla. In 2015, it would be launched...
  • Indian economy grew impressively under PM Manmohan Singh's leadership: Ratan Tata May 14, 2014

    New Delhi: Tata Group Chairman Emeritus Ratan Tata on Wednesday lauded Prime Minster Manmohan Singh for his integrity saying economy grew impressively under his first stint although his government fell prey to inflationary forces in the second term. "The Indian economy grew impressively under his (Singh's) leadership in the first five...
  • Arun Maira says his book is on reforms needed for stronger economy May 13, 2014

    New Delhi: Planning Commission Member Arun Maira on Tuesday said that his new book focuses on reforms that can ensure a stronger economy and is "very different" from what others have written recently. Maira's book titled 'Redesigning the Aeroplane While Flying - Reforming Institutions' comes on the heels of books written...
  • Industrial production remains negative, dips 0.5 pc in March May 12, 2014

    New Delhi: Showing no signs of recovery, factory production remained in negative territory for the second month in a row, contracting 0.5 per cent in March due to declining output in manufacturing, especially capital goods. Output as measured by the index of industrial production (IIP) remained almost flat in 2013-14 and...
  • Rupee gains 3 paise closes at 60.04 against US dollar May 9, 2014

    Mumbai: The rupee on Friday gained three paise against the dollar to end the day at 60.04 on persistent selling of the US currency by banks and exporters in view of sustained foreign capital inflows into equity markets. The rupee unit resumed slightly lower at 60.09 per dollar as against...
  • Next government will have to re-develop confidence in economy: Arun Jaitley May 7, 2014

    BJP leader Arun Jaitley on Wednesday said the main challenge before the next government will be to work for re-developing the confidence in the economy and expedite decision making. "In order to regain that confidence, we will need to expedite all decision making process and a new mechanism would need to...
  • Rupee 2 paise lower closes at 59.96 against US dollar May 7, 2014

    Mumbai: The rupee rose to above 60-level at 59.96 against the dollar but surrendered the gain to settle the day lower by a marginal two paise at 60.13 as a sudden demand for the US currency emerged at fag end of trade. The rupee resumed higher at 60.02 as against the...
  • Sensex, Nifty end flat; IT drags, metals & oil stocks up May 5, 2014

    Mumbai:The market snapped 5-day losing streak and rallied a bit intraday but could not hold all gains till the end. After much of a struggle to hold 6700, the Nifty closed below it marginally. The Nifty ended the day at 6699.35, up 4.55 points while Sensex was up 41.23 points...
  • Rupee closes at 60.21 depreciates by 5 paise again US dollar May 5, 2014

    Mumbai: The rupee on Monday failed to maintain initial gains and ended lower by five paise at 60.21 against the dollar on fag-end demand for the US currency from banks and importers. The rupee opened higher at 60.09 a dollar against last weekend's...
  • Rupee gains 15 paise against US dollar May 2, 2014

    Mumbai: The rupee appreciated by 15 paise to close at three-week high of 60.16 against the dollar following sustained selling of the US currency by exporters amid capital inflows, completing three straight sessions of gain. However, weakness in local equities and a firm dollar overseas...
  • IMF says Ukraine would need modified bailout if eastern region lost May 2, 2014

    Washington: The International Monetary Fund warned on Thursday it would be forced to re-design its $17 billion bailout for Ukraine and require additional financing if the country lost territory in its restive eastern region. The Fund also said a deterioration in relations between Ukraine and Russia, which buys about a quarter...
  • India pips Japan, becomes world's third largest economy in terms of PPP April 30, 2014

    Washington: China is set to overtake the US as the world's number one economy, while India has jumped into third place ahead of Japan, according to a new study from the world's leading statistical agencies. The 2011 International Comparison Program (ICP), which involves the World Bank, assesses economies based...
  • India @ 9 with Rajdeep Sardesai April 30, 2014

    Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
  • Future growth prospects depend on new government's policies: Montek Ahluwalia April 30, 2014

    New Delhi: Growth prospects of the Indian economy will depend on the policies of the new government to be formed next month, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Wednesday. "The economy can move up, depending upon the policies you follow. In the current (financial) year 2014-15 everybody...
  • Switzerland, Norway are world's most expensive economies April 30, 2014

    Switzerland and Norway are the world's most expensive economies, followed by Bermuda, Australia and Denmark, according to a new ranking by the World Bank. The economies with the lowest prices are Egypt, Pakistan, Myanmar, Ethiopia and Laos, according to a review of economic data which seeks to compensate for exchange rate...
  • China government think tank cuts GDP forecast: Report April 30, 2014

    Shanghai: The Chinese Academy of Social Sciences (CASS), one of Beijing's top government think tanks, has revised its 2014 GDP growth forecast down to 7.4 per cent, below the official 7.5 per cent target, and says that growth could slow to as low as 7 per cent, state media reported...
  • Data visualisation: NDA versus UPA in government performance April 29, 2014

    For measuring a company performance "Return on equity" is a primary metric. But for measuring a government's performance, there is no similar metric. Traditionally Indian elections are contested by parties based on social aspects like caste, religion, etc. as well as basic amenities like food, clothing and shelter. In the...
  • Rupee loses 5 paise closes 60.65 at against US dollar April 28, 2014

    Mumbai: Surrendering early trade gains, the rupee closed the day five paise lower at 60.65 against the dollar on sudden demand for the US currency from importers, mainly oil refiners. Weakness in local stocks also weighed on the rupee, while continued capital inflows and lower dollar overseas limited the rupee...
  • LS polls: Modi alone can revive economy, provide jobs, says Loksatta April 25, 2014

    Hyderabad: Loksatta Party will support BJP's Prime Ministerial nominee Narendra Modi as he is committed to providing jobs to youth by reviving the manufacturing sector and ensuring good governance, its President said on Friday. The UPA Government has squandered a golden opportunity given to it for the last 10 years by...
  • Sensex ends at 22688.07 loses 188 points, Nifty below 6800 April 25, 2014

    Mumbai: After hitting record highs initially during the week, equity benchmarks saw profit-taking on Friday weighed down by oil & gas, private banks and FMCG stocks. The 30-share BSE Sensex declined 188.47 points to close at 22688.07 and the 50-share NSE Nifty fell below the 6800-mark, down 58.05 points to...
  • Rupee appreciates by 47 paise, closes at 60.60 against US dollar April 25, 2014

    Mumbai: Snapping the three-day losing streak, the rupee on Friday gained a massive 47 paise against the dollar to close the day at 60.60 amid heavy selling of the US currency by corporates, exporters and banks. The dollar index was also down by 0.07 per cent, following new tension between Ukraine...
  • Modi unveils his economic agenda, says BJP government will review FDI April 18, 2014

    New Delhi: Unveiling his economic roadmap for the country, Bharatiya Janata Party prime ministerial candidate Narendra Modi claimed that the economic policy of his government will be pro-people and in favour of India's business interest. He also said that there was a need to review FDI with a different perspective. "We...
  • India's ratings to depend on next governement economy, fiscal policies: S~~amp;amp;P April 17, 2014

    Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax. "If in the future they implement policies that effectively addresses some of the credit weaknesses that I...
  • Rupee ends at 60.29 up 8 paise against dollar April 17, 2014

    Mumbai: The rupee on Thursday gained by 8 paise to close the day at 60.29 against the dollar in line with the surge in stock markets, breaking three-day losing streak. Fresh dollar selling by exporters amid weak dollar overseas aided the rupee, forex dealers said, adding that sustained capital outflows...
  • Rupee at 3-week closing 60.37 against US dollar April 16, 2014

    Mumbai: The rupee on Wednesday lost 14 paise to register its three-week closing low of 60.37 against the dollar amid capital outflows and continuing demand for the US currency from oil refiners. At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed lower at 60.30 a dollar from the previous...
  • China needs to disclose foreign exchange market intervention: US April 16, 2014

    Washington: Like other large emerging market countries including India and Brazil, China also needs to disclose its foreign exchange market intervention to increase the credibility of its monetary policy framework and to promote exchange rate and financial market transparency, the United States has said. "In line with the practice of most...
  • Rupee ends at 60.23 vs US dollar, dips to two-week low April 15, 2014

    Mumbai: The Indian rupee on Tuesday lost six paise to register its two-week closing low of 60.23 against the dollar on sustained dollar demand from importers. A firm overseas and capital outflows also weighed on the rupee, a forex dealer said. At the Interbank Foreign Exchange (Forex) market, the domestic...
  • Rupee loses 10 paise against dollar April 11, 2014

    Mumbai: The rupee on Friday lost 10 paise to end the day at 60.17 against the dollar in line with fall in local stocks, amid fresh dollar demand from importers. Dollar gaining strength in overseas markets also hit the local currency, forex dealers said. The dollar index was up by...
  • Rupee ends higher by 7 paise at 60.07 against the US dollar April 10, 2014

    Mumbai: The rupee on Thursday gained 7 paise to settle the day at 60.07 against the dollar which quoted lower in overseas markets on hints that the Fed Reserve may keep interest rates low. Fresh selling of greenback by exporters and banks also aided the rupee to record gains, forex dealers...