ECONOMY

  • Rupee down 18 paise vs dollar in early trade June 20, 2014

    Mumbai: The rupee on Friday lost 18 paise to 60.26 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from importers. Forex dealers attributed the rupee's fall to increased dollar demand from importers amidst rising global crude prices but said...
  • India Inc sees GDP growth of 56 pc in FY15: Survey June 19, 2014

    Mumbai: As many as 81 per cent of Indian corporates believe the country's economy is likely to grow 56 per cent in the current financial year, says a survey. "India Inc expects the economy to grow between 56 per cent and rupee around 77 per cent to appreciate against the...
  • Rupee gains most in over a month on Fed's dovish policy outlook June 19, 2014

    Mumbai: Bucking the weak trend in stocks, the rupee on Thursday rose 31 paise, logging its best singleday gain in over a month, to end at 60.08 against the dollar as the American currency weakened on US Fed keeping its policy of ultralow interest rates intact. Fresh selling of dollars by...
  • Rupee rebounds from over 7week lows, ends up 13 paise at 60.03 vs US dollar June 17, 2014

    Mumbai: The rupee on Tuesday appreciated for the first time in three days against the dollar and ended 13 paise up at 60.03 boosted by late surge in local equities and comments by RBI Governor that India is better prepared to deal with any fallout from the ongoing Iraq crisis. Fresh...
  • Expect agricultural reforms from the Modi government, says Arun Shourie June 17, 2014

    New Delhi: Senior Bharatiya Janata Party leader Arun Shourie has said that one can expect major agriculture reforms from the Narendra Modi government. In an exclusive interview to CNBCTV18, Shourie talked about what he expects from Modi's government in the field of economy. He said that Modi government has to put...
  • Modi follows neoliberal policies, don't expect economic changes: CPI June 15, 2014

    New Delhi: Senior CPI leader D Raja on Sunday said that he does not foresee any big change in the economy as the Narendra Modi government also follows the neoliberal policies that the previous government followed. The remarks came in the backdrop of Prime Minister Narendra Modi saying that the...
  • PM Modi warns of tough decisions ahead to improve country's economy June 14, 2014

    Dambolim: With just a few days left for the commencement of Budget Session of Parliament, Prime Minister Narendra Modi on Saturday said that his Cabinet would take really tough measures to improve the economy of the country which is in shambles currently owing to the steps taken by the previous...
  • Rupee logs worst drop in over 4 months, down 52 paise against US dollar to end at 59.77 June 13, 2014

    Mumbai: Logging its biggest drop in over four months, the rupee on Friday depreciated 52 paise to end at 59.77 against US dollar on rising risk aversion after global oil prices surged on supply concerns over the unrest in Iraq. The local currency also posted its third successive weekly...
  • Rupee ekes out marginal rise against US dollar ahead of IIP, inflation data June 12, 2014

    Mumbai: Continuing its rangebound movement for the fourth session, the rupee on Thursday closed up by two paise at 59.25 ahead of industrial output and retail inflation data. A smart recovery in local stocks amid stray dollar selling by exporters helped the rupee close in the positive terrain, a forex...
  • Sensex loses 110 points, Nifty ends below 7650; Infosys up 3 pc June 11, 2014

    Mumbai: The market snapped fourday winning streak amid volatility on Wednesday on account of profittaking. The broader indices underperformed benchmarks with the BSE Midcap and Smallcap indices falling 1 percent and 0.67 percent, respectively. The Sensex slipped 109.80 points to close at 25473.89 while the Nifty held 7600 level amid...
  • Rupee inches up 2 paise against US dollar to end at 59.27, snaps 2day fall June 11, 2014

    Mumbai: The rupee on Wednesday snapped its two days of losses and edged up two paise to end at 59.27 against the dollar following late selling of the US currency by exporters. Persistent capital inflows and some weakness in dollar overseas also helped the rupee recover even as government...
  • We don't treat alliance partners as a burden: Arun Jaitley June 10, 2014

    Finance Minister Arun Jaitley said the Bharatiya Janata Party will continue with its alliance partner even if they got absolute majority. He said, "We are in an era of coalitions. My party believes that despite the absolute majority, we are in an era of alliances because it represents the federal...
  • FM Arun Jaitley slams UPA government over economic situation June 10, 2014

    New Delhi: Government on Tuesday slammed the previous UPA regime saying it has left the country in a shambles with low growth and "elevated" poverty and vowed to resurrect the economy with a strong Prime Minister Narendra Modi at the helm. Finance Minister Arun Jaitley also sought to allay apprehensions on...
  • India poised to return to high growth path: OECD June 10, 2014

    New Delhi: India is poised to return to a high growth path while its BRIC peers Brazil, China and Russia are expected to record belowtrend growth rates, an OECD report said on Tuesday. "CLIs (composite leading indicators) point to growth below trend in Brazil, China and Russia. Nevertheless, the CLI...
  • India Inc has strongest hiring plans for next three months June 10, 2014

    New Delhi: Bolstered by improving business sentiments, Indian employers have the strongest hiring plans worldwide for the next three months as they are expected to embark on "vigorous" recruitment activities, says a report. The Manpower Employment Outlook Survey released today also said that hiring activities are picking up in...
  • Sensex ends flat after hitting new lifetime high June 10, 2014

    Mumbai: The benchmark Sensex on Tuesday hit a new lifetime high but pared gains on profitbooking to end with a slim 3.48point rise at a fresh closing peak of 25,583.69. Stock markets had opened on a strong note with the 30scrip BSE Sensex touching a new high of 25,711.11 points...
  • 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...