Economy

  • Budget 2014: Chidambaram makes veiled attack on Modi, Kejriwal February 17, 2014

    New Delhi: Finance Minister P Chidambaram today made a veiled attack on Narendra Modi and Arvind Kejriwal, saying that "neither populism nor individualism" is an alternative way of governance and expressed confidence that people will entrust responsibility to a "hand" that works for equity. Incidentally, 'hand' is the symbol of...
  • Defence Ministry gets Rs 2,24,000 cr, 10 pc more than last time February 17, 2014

    New Delhi: Amid its modernisation drive, the Defence Ministry on Monday was allocated Rs 2,24,000 crore in the interim budget, marking a 10 per cent increase over the last budget. The allocation for the ministry in the last financial year (2013-14) was Rs 2,03,672 crore, of which around Rs 80,000...
  • Budget 2014: Full text of P Chidambaram's speech on vote on account February 17, 2014

    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 February 17, 2014

    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...
  • Watch: Experts rate P Chidambaram's interim budget February 17, 2014

    In an election year, Finance Minister P Chidambaram presented an Interim Budget on Monday 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, the Finance Minister tinkered with excise...
  • FM slashes excise duty for automobiles, leaves taxes unchanged February 17, 2014

    New Delhi: Leaving direct taxes untouched, Finance Minister P Chidambaram on Monday slashed excise duty on cars, SUVs and two-wheelers, and capital goods and consumer durables to boost manufacturing and growth. Presenting the Interim Budget for 2014-15, he also provided service tax exemption for storage and warehousing...
  • Budget 2014: Cars, SUVs, 2-wheelers to cost less on excise duty cut February 17, 2014

    New Delhi: Prices of automobiles, including cars, sports utility vehicles and two-wheelers, are set to come down with Finance Minister P Chidambaram on Monday announcing a reduction in excise duty in the interim Budget. "To give relief to the automobile industry, which is registering unprecedented negative growth, I propose to...
  • Budget 2014: FM cuts excise duty, woos youngsters, taxes unchanged February 17, 2014

    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 February 17, 2014

    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 February 17, 2014

    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 numerous...
  • India's road network jumps over 7-fold in 10 years: Chidambaram February 17, 2014

    New Delhi: The road network in the country has witnessed a whopping over seven-fold increase at 3.89 lakh kilometres in the UPA-I and UPA-II regime, Finance Minister P Chidambaram on Monday said. "In the year 2004, the country's highway network was 51,511 km which has now reached 3,89,578 km today," he...
  • Food inflation still remains a worry, says Chidambaram February 17, 2014

    New Delhi: Finance Minister P Chidambaram on Monday said both the government and the RBI have acted in tandem to bring down price rise, even as food inflation at 8.8 per cent still remains a worry. "Both the government and RBI have acted in tandem (to bring down inflation). While...
  • Exchange rate has stabilised: Finance Minister February 17, 2014

    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...
  • CAD to be $ 45 bn this year: Chidambaram February 17, 2014

    New Delhi: India's current account deficit (CAD) will be contained at USD 45 billion this financial year, well below the record high level of 2012-13, Finance Minister P Chidambaram said on Monday. "CAD that threatened to exceed last year's USD 88 billion will be contained at USD 45 billion," he...
  • Agri credit to cross Rs 7 lakh cr;exports to surge over $ 45 bn February 17, 2014

    New Delhi: Agriculture credit is likely to exceed the target of Rs 7,00,000 crore while farm exports are expected to increase to over USD 45 billion in the current fiscal, Finance Minister P Chidambaram said on Monday. "We are proud of stellar performance of agriculture....Agriculture credit is likely to touch...
  • Budget 2014: As it happened February 17, 2014

    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: Excise...
  • Sensex up over 50 points after Chdambaram presents interim budget February 17, 2014

    Mumbai: The Sensex is up 56.21 points at 20423.03, and the Nifty up 13.90 points, at 6062.25. About 1000 shares have advanced, 909 shares declined, and 127 shares are unchanged. Chidambaram highlighted the Congress party-led United Progressive Alliance government's achievements and outlined the vision for the future. The main budget...
  • Infosys Innovating for a Better Tomorrow February 16, 2014

    Societies progress through innovation in science and technologies, business and social sector. Is there enough innovation happening in India? CNN-IBN Deputy Editor Sagarika Ghose in conversation with Infosys Executive Chairman Narayan Murthy and asks that what does innovation mean to him and what is the role of innovation in the...
  • Economic growth to cross 5 pc this financial year: PM February 14, 2014

    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 rapid...
  • Expect grand statements, nothing more from interim budget: Expert February 14, 2014

    New Delhi: Senior journalist and economic policy expert Vivian Fernandes expects that the outgoing government may make some grand statements of intent during the presentation of Vote on Account on Monday. He feels that the government will always use the opportunity to present its view especially since it has the...
  • Interim Budget 2014: Chidambaram to walk the tightrope February 14, 2014

    New Delhi: Finance Minister P. Chidambaram will be walking a tightrope when he presents an interim budget for the coming fiscal year on Monday, doling out more funds to woo voters and tax cuts to support industry while projecting a lower fiscal deficit before elections. Asia's third-largest economy is facing its...
  • Rupee falls 32 paise, ends at 62.42 vs US dollar February 13, 2014

    Mumbai: The rupee on Thursday erased initial gains and slipped 32 paise, logging its biggest daily drop in over two weeks, to end at 62.42 versus the dollar in line with weakness in domestic stocks and sustained demand of the American currency from oil importers. The rupee commenced higher at 62.05...
  • India @ 9 with Rajdeep Sardesai February 12, 2014

    Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
  • News 360: RCB bags Yuvraj for 14 cr in day one IPL auction February 12, 2014

    A total of 216 players went under the hammer on day one but only 70 were sold with Yuvraj Singh ending up as the top-earner, bought by Royal Challengers Bangalore for a whopping Rs. 14 crore. ...
  • Hennes & Mauritz to open first store in India in 2014 February 12, 2014

    Hennes & Mauritz will open its first store in India this year, it said on Wednesday, as the world's second-biggest fashion retailer becomes the latest to take advantage of the opening of Asia's third-largest economy to foreign operators. H~~amp;amp;M, which said last year it plans to spend around 100 million euros...
  • January inflation seen easing on food, fuel prices but still elevated February 14, 2014

    India's high inflation probably eased to a seven-month low last month as food and fuel prices showed signs of moderating, providing some respite to the Reserve Bank of India which has been hiking interest rates to curb soaring prices, Reuters polls showed on Tuesday. Ominously, though, factory activity likely contracted 1.0...
  • The Last Word: What is the true state of Indian economy? February 11, 2014

    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)...
  • XLRI witnesses 100 per cent placement in 3.5 Days February 9, 2014

    Jamshedpur: The Xavier School of Management (XLRI) has placed its entire 2012-14 batch in just 3.5 days against the backdrop of a protracted slowdown in the economy, a press release of the institution said on Saturday. The ongoing year's final recruitment process saw the presence of 103 prominent recruiters with 254...
  • Modi tears into Chidambaram, says hard work not Harvard pays February 9, 2014

    Chennai: Launching a stinging attack on Union Finance Minister P Chidambaram for ridiculing his knowledge of economics, BJP Prime Ministerial candidate Narendra Modi on Saturday said the country was run with hard work and not Harvard, a reference to the Congress leader's education overseas. In an apparent reference to Chidambaram's 2009...
  • Growth will not be less than 5 pc in 2013-14, says Chidambaram February 11, 2014

    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 said,...