ECONOMY

  • Rupee falls for 2nd day, down 9 paise against US dollar to end at 59.29 June 10, 2014

    Mumbai: The rupee on Tuesday fell for the second day and closed nine paise down at 59.29 against the dollar on sustained demand for the US currency from importers. Hesitancy in local equities also weighed on the rupee even as sustained FII inflows worth Rs 680 crore continued to give...
  • Cyber crime costs global economy $445 billion a year: Report June 9, 2014

    London: Cyber crime costs the global economy about $445 billion every year, with the damage to business from the theft of intellectual property exceeding the $160 billion loss to individuals from hacking, according to research published on Monday. The report from the Centre for Strategic and International Studies (CSIS) said cyber...
  • Turn economy into a high growth path: President June 9, 2014

    New Delhi: The new government, headed by Narendra Modi, will accord topmost priority to containing food inflation and take tough against hoarding and black marketing, President Pranab Mukherjee said on Monday. "Containing food inflation will be the topmost priority for my government. There would be an emphasis on improving the supply...
  • President's address to focus on skill, scale and speed to revive India's economic growth June 9, 2014

    New Delhi: President Pranab Mukherjee will address a joint sitting of Parliament on Monday, laying the roadmap of the new government headed by Prime Minister Narendra Modi. The President's speech is likely to highlight the government's economic agenda. In his address beginning at 11 AM in the Central Hall of Parliament,...
  • Jaitley underlines need to lower cost of business to up growth June 7, 2014

    Mumbai: Ahead of the union budget, Finance Minister Arun Jaitley met financial sector regulators in Mumbai on Saturday. The meeting was to discuss the current financial and economic indicators. The meeting was also to take up suggestions on the forthcoming policy of the goverenment. Jaitley has been holding a series...
  • China's economy to slow down to 7.6 per cent this year: World Bank June 6, 2014

    The Chinese economy will grow at 7.6 per cent this year, a notch lower than last year's 7.7 per cent, and the trend is likely to continue next year as well, a World Bank Economic update said on Friday. China's growth will moderate over the medium term as the economy continues...
  • US judges India, applauds corporate environment, slams treatment of women June 4, 2014

    New Delhi: With Prime Minister Narendra Modi presiding over the first oneparty majority government at the Centre in the last 30 years, the pall of gloom over the state of Indian economy is slowly lifting. The Sensex has been on an upswing ever since Modi powered Bharatiya Janata Partyled National...
  • Rupee up 5 paise closes at 59.33 against US dollar June 4, 2014

    Mumbai: Snapping a fourday losing trend, the rupee on Wednesday recovered by 5 paise to close at 59.33 against the US currency on fagend dollar selling by banks and exporters on hopes of good foreign capital inflows into equities. At the Interbank Foreign Exchange (Forex) market, the local currency resumed lower...
  • Rupee loses 4 paise ends at 59.15 against US dollar June 2, 2014

    Mumbai: Ignoring the surge in local stocks, the rupee continued its downfall for the third straight day as it lost four paise against the dollar to end the day at 59.15. Forex dealers said that the rupee remained under pressure due to sustained demand for the US currency from importers,...
  • RBI Governor meets PM Narendra Modi, briefs him on Budget issue June 1, 2014

    New Delhi: Governor of the Reserve Bank of India Raghuram Rajan on Sunday met Prime Minister Narendra Modi for discussions over the Union Budget. Since the previous government's term ended in May, the UPA government had rolled out an interim budget only till the time the new administration is installed. The...
  • Finance Minister Arun Jaitley calls for fiscal discipline to bring economy back on track June 1, 2014

    New Delhi: Union Finance Minister Arun Jaitley on Sunday called for fiscal discipline to bring economy back on track. In his first blog after assuming office as the Finance Minister, Jaitley wrote in his blog titled 'From Celebration to Challenge', "We must move towards an era of fiscal discipline where...
  • Economy expands 4.7 per cent in FY14, looks to Modi for rebound May 30, 2014

    India's economic growth picked up marginally from a decade low in the fiscal year ended March, but probusiness Narendra Modi's thumping victory in the recent general election has stoked optimism of an investmentled turnaround in the coming quarters. Asia's thirdlargest economy grew 4.7 per cent in 2013/14, slower than an official...
  • India's economic growth remains subdued at 4.7 pc in 201314 May 30, 2014

    New Delhi: India's economic growth remained subdued at 4.7 per cent in 201314 and at 4.6 per cent in the fourth quarter of the financial year, mainly due to a decline in manufacturing and mining output. The country's economy, or gross domestic product (GDP), had expanded at 4.5 per...
  • Rupee posts first weekly drop in five on rising dollar demand May 30, 2014

    Mumbai: The rupee on Friday extended losses and fell by eight paise to end at 59.11 against the dollar dragged down by monthend importer demand of the US currency. It lost 59 paise in the past five trading sessions, logging its first weekly drop in five. In May, the rupee...
  • Modi unveils 10point agenda for governance May 29, 2014

    Prime Minister Narendra Modi has unveiled a new 10point agenda for his ministers. Among other things, Modi wants his colleagues to raise the confidence level of bureaucrats so that they come with more innovative ideas. All ministers have been told to chart a separate 100day action plan. The focus would...
  • Modi's 10 commandments and 100 days action plan: Will 'Achche Din' truly return? May 29, 2014

    Prime Minister Narendra Modi has got his ministers working and has issued them guidelines and priorities. Modi, who addressed his second Cabinet meet in the past 48 hours, has listed down a 10point priority list for his government. All ministers have been told to chart a separate 100day action plan....
  • RSS not an economic fundamentalist, says Ram Madhav May 29, 2014

    New Delhi: The RSS is "not an economic fundamentalist", senior sangh leader Ram Madhav said on Thursday making it clear that the Narendra Modi government is free to take decisions for the good of the country including on FDI. The organisation said that its "broad line" is to protect the...
  • Sensex logs biggest drop in 4 months; Infosys tanks 8 pc May 29, 2014

    Mumbai: The benchmark Sensex on Thursday plunged 322 points, logging its biggest singleday drop in four months, weighed down by a sharp 8 per cent selloff in Infosys shares after a key executive quit, amid expiry of monthly equity derivative contracts. The Sensex resumed lower at 24,523.13 and continued to lose...
  • Arun Jaitley keen to meet state FMs to push GST May 28, 2014

    New Delhi: Keen to push the Goods and Services Tax (GST), Finance Minister Arun Jaitley on Wednesday expressed desire to hold an early meeting with the state finance ministers. He also asked revenue officials to appraise him of the developments on the GST through a separate presentation on the issue, sources...
  • Agenda for new government: Don't change for the sake of change May 28, 2014

    Following a resounding mandate, the world watches in anticipation as India gets ready to fulfill its true potential. The 15th Prime Minister of India, Shri Narendra Modi gets ready to assume office, at a time when national expectations are probably at its highest. It's a heightened sense of anticipation and...
  • Watch: The key economic challenges for Modi government May 28, 2014

    One of the top priorities for the new government will be putting the economy back on track. CNBC's Managing Editor Shereen Bhan tells us what are the key economic challenges for Narendra Modi's government. ...
  • Narendra Modi's economic ministers get cracking May 27, 2014

    New Delhi: Prime Minister Narendra Modi's crack team of economic ministers led by Arun Jaitley in finance from Tuesday began the Herculean task of arresting price rise, reviving investor confidence and boosting growth. Jaitley, who has also been given the Ministry of Corporate Affairs, pledged to contain the price rise,...
  • Nifty ends below 7300; Coal India & Maruti gain 5%, IT dips May 22, 2014

    Mumbai: The market ended on a slightly flattish note. The Sensex is up 78.80 points at 24376.82 and the Nifty is up 21.70 points at 7274.60. About 2200 shares have advanced, 715 shares declined, and 97 shares are unchanged. Both Coal India and Maruti gained 5 per cent each while NTPC,...
  • India 2020: Can BJP revive economic growth engines? May 18, 2014

    For the first time in thirteen years, the Indian voters have given the message loud and clear. Narendra Modi will be India's first prime minister outside the GandhiNehru family to lead the nation with the simple majority for the BJP. What does it means for Indian economy. CNBC TV18's Shereen...
  • 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 lifetime 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 201314 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...