Economy

  • India economy to grow at 5.6 per cent in 2014-15: Report March 6, 2014

    India is likely to grow by 5.6 per cent in 2014-15 against a projected growth of less than 5 per cent in the current fiscal, a report by India Ratings and Research has said. "The global economy in 2014 appears to be in a better shape than what it was in...
  • Devil's Advocate: BJP doesn't indulge in caste politics, says Jaitley March 2, 2014

    Leader of Opposition in the Rajya Sabha Arun Jaitley has said that the BJP is not a party which indulges in vote bank politics. In an interview with Karan Thapar in 'Devil's Advocate,' Jaitley said, "BJP is not a party which will have religious based reservations and will not go...
  • Indian economy grows 4.7 per cent in October-December quarter February 28, 2014

    The Indian economy grew 4.7 per cent in the third quarter of this financial year mainly due to improved performance in the agriculture and services sectors. The country's gross domestic product (GDP) had expanded 4.8 per cent in the July-September quarter and 4.4 per cent in April-June. Growth in the first...
  • April-January fiscal deficit at $ 86 billion, crosses full year target February 28, 2014

    India's fiscal deficit in the first ten months of the 2013-14 financial year crossed the target for the whole year, putting pressure on the finance minister of Asia's third-largest economy to cut spending ahead of an election. The fiscal deficit touched 5.33 trillion rupees during April-January, or 101.6 per cent of...
  • India @ 9 with Rajdeep Sardesai February 27, 2014

    Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
  • News 360: Major fire in cracker factory in Mumbai, 9 dead February 27, 2014

    A major fire broke out on Thursday evening at a cracker factory in Alibaug near Mumbai. At least nine people are feared dead in the incident. The incident took place around 3 pm. ...
  • A Billion Votes: India is in desperate need of investment, says Modi February 27, 2014

    Bharatiya Janata Party Prime Ministerial candidate Narendra Modi on Thursday made a pitch to corporate India in the national capital. Speaking to a gathering of corporates, bankers and investment houses, Modi said that the country is in dire need of investment in infrastructure in all sectors. Modi also endorsed Foreign...
  • Infrastructure splurge too late for UPA-2 or next government February 27, 2014

    New Delhi: India's drive to break an infrastructure investment logjam has come too late to revive the economy before the forthcoming general election - and it could be years before it pays growth dividends for the next government. Although a cabinet task force set up by Prime Minister Manmohan Singh...
  • BJP will eliminate archaic laws if it comes to power: Modi February 27, 2014

    New Delhi: While pitching for the Bharatiya Janata Party, Gujarat Chief Minister Narendra Modi on Thursday said that there is an urgent need to revive the Indian economy. "There is a need to revive the structure of the government in India. Give us power so that we can eliminate insignificant...
  • Rupee down 8 paise against dollar in early trade February 26, 2014

    Mumbai: Breaking a three-day winning run, the rupee on Wednesday lost 8 paise to 62.02 against the US dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the US currency overseas. Forex dealers said apart from month-end demand for the American currency from importers, dollar gaining...
  • Rupee opens at 62.16 vs dollar, down 4 paise February 24, 2014

    Mumbai: The rupee fell marginally by 3 paise to 62.15 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market due to increased demand for the US currency from importers. Forex dealers said besides dollar's gains against other currencies overseas, increased demand from importers for...
  • Cost of credit biggest worry for CEOs: CII February 23, 2014

    Corporate honchos have cited cost of credit as their biggest concern impeding economic growth and investments, even as a majority of them said the interim budget would help increase overall demand within next six months, a poll of industry leaders by CII has said. An overwhelming 74 per cent of respondents...
  • Modi can't ensure higher growth than UPA: Chidambaram February 23, 2014

    New Delhi: Finance Minister P Chidambaram defended UPA's record on the economic front, saying it delivered India's highest growth rate in any five-year period. Chidambaram was fielding questions from students, economists and professionals on Headlines Today's Right to be Heard Townhall debate. "UPA has delivered the highest growth rate in any period...
  • Indian economy much more resilient to external shocks: IMF February 21, 2014

    The Indian economy is much more resilient to external shocks now than was last year, a top IMF official has said, attributing this to a series of administrative decisions and policy measures taken by the Union Government. "We see India much more resilient than they were about the middle of last...
  • Indian rupee opens flat at 62.19 vs US dollar February 21, 2014

    Mumbai: The Indian rupee opened flat at 62.19 per dollar in the early trade on Friday. It closed at 62.22 Thursday. The dollar pulled away from a sevenweek low against the euro and pushed higher against the yen in early Asian trade, bolstered by upbeat US economic data. Pramit Brahmbhatt...
  • Rahul Gandhi has all the qualities of a good leader: Chidambaram February 20, 2014

    Chidambaram was speaking to Karan Thapar on Devil's Advocate. He also spoke about the state of the Indian economy and the situation in Parliament. ...
  • Chidambaram hits out at critics, says have pulled back economy February 18, 2014

    Hitting out at critics of UPA's management of economy, Finance Minister P Chidambaram on Tuesday said the government has "pulled back" the economy from a difficult situation and put it back on a high growth path. Rejecting description of his interim Budget as populist, he said over the last couple of...
  • Sensex jumps 170 pts to 3week high as budget cheer continues February 18, 2014

    Mumbai: The benchmark Sensex on Tuesday shot up 170 points to a nearly threeweek closing high of 20,634.21, driven by gains in banking, capital goods and auto shares as investors continued to cheer the interim budget proposals. The Sensex, which had gained 271 points in the previous two sessions, rose...
  • Chidambaram's 10point agenda to make India 3rd largest economy February 18, 2014

    New Delhi: Finance Minister P. Chidambaram on Monday unveiled a 10point agenda that would help make India the third largest economy by 2043 only behind the US and China. While presenting the interim budget for the fiscal 201415 in the Lok Sabha, the finance minister said the size of Indian...
  • Budget 2014: UPA cuts excise duty, lowers prices, woos voters ahead of polls February 18, 2014

    New Delhi: In a move to woo the voters ahead of the upcoming Lok Sabha elections, Finance Minister P Chidambaram on Monday unveiled the UPA government's interim budget, its last before the party goes to face the electorate. In his interim budget, the Finance Minister has reached out to specific...
  • Budget 2014: MEA gets higher allocation February 17, 2014

    New Delhi: The Ministry of External Affairs was on Monday allocated Rs 14,130 crore for 201415, which is an increase of 20 per cent compared to revised outlay of last year as more funds have been earmarked for India's overseas developmental projects. The allocation is up by Rs 2,337 crore from...
  • Duty relief helpful if it works for a long time: FICCI February 17, 2014

    FICCI president Sidharth Birla said that the government has given some duty relief but we have to see the duration of it. But if it works for a long time, it will be very helpful. The automobile industry was in a bad state and he has tried to help it...
  • Growth rate could to go up to 5 per cent in current fiscal year: FM February 17, 2014

    Rejecting allegations of policy paralysis in UPA's tenure, Finance Minsiter P Chidambaram said that there has been an unparallaled growth under UPA I and II. In the interim budget presented on Monday, he kept the fiscal deficit below the redline at 4.6 per cent and expressed hope that the GDP growth...
  • Most give interim budget cold shoulder, a few call it good February 17, 2014

    New Delhi: Union Finance Minister P Chidambaram's ninth budget presentation on Monday was more like a farewell speech than an interim Budget presentation. Defending himself strongly, Chidambaram reiterated that he was not a failure as Finance Minister and read out a long list of achievements of the UPA1 and UPA2....
  • 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 (201314) 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 UPAII has brought schemes and has contained the fiscal deficit. In the UPAII's last budget before the 2014 Lok Sabha elections, Chidambaram said the UPAI and UPAII have delivered above the trend. Even as he announced...
  • Government to loan Rs 4.57 lakh crore to bridge fiscal deficit in 201415 February 17, 2014

    New Delhi: The government on Monday pegged its net borrowing for 201415 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 201415 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 Congressled 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 twowheelers, and capital goods and consumer durables to boost manufacturing and growth. Presenting the Interim Budget for 201415, he also provided service tax exemption for storage and warehousing...