Economy

  • Nifty falls on profit-taking after third straight record high 5 hours 35 minutes ago

    Mumbai: The Nifty fell on Friday after hitting a record high for a third straight day as investors took profits in blue-chips such as ICICI Bank, while software stocks declined after Wipro's US dollar revenue growth lagged rivals. ICICI Bank provisionally fell 1.8 per cent while Wipro slumped 4.4 per cent. The...
  • India blocks WTO deal on customs rules as deadline nears 14 hours 21 minutes ago

    Geneva: India blocked an agreement on new global customs rules on Thursday, angering fellow members of the World Trade Organization who say Delhi's veto could be costly, economically and politically. At a meeting in Geneva, diplomats from the 160 WTO member countries were supposed to rubber stamp a deal on "trade...
  • India likely to grow at 6 per cent in 2014-15: Harvard professor 2 days ago

    New Delhi: The Indian economy is likely to grow at six per cent in 2014-15 and if the new government delivers on its promise of good governance, reversion to a growth rate of around 7-8 per cent can occur in coming years, Harvard University professor Gita Gopinath said. "Let's just say...
  • Rupee rises 15 paise to end at over one-week high of 60.09 against US dollar 2 days ago

    Mumbai: Rupee rose 15 paise to end at over one-week high of 60.09 against US dollar on Wednesday. Extending its rising streak for the second straight session, the rupee strengthened by 12 paise to trade at 60.12 against the US dollar in early trade on Wednesday on sustained foreign capital...
  • Higher weight of food items causing high retail inflation: Government 5 days ago

    New Delhi: A higher weight of food items in the consumer price index has kept retail inflation at elevated levels in the country, according to official data. The high inflation in India owes to "higher weight for the food basket (about 50 per cent)" as against 14 per cent and 32...
  • More steps will be taken to sustain economic recovery: Arun Jaitley 1 week ago

    New Delhi: Government on Friday blamed the "policy paralysis" and retro tax amendment of the previous UPA regime for the current economic woes and promised to take a series of steps besides the Budgetary provisions for sustainable growth amid indications of some recovery. Finance Minister Arun Jaitley spelt out his intentions...
  • GDP growth to improve this fiscal, says Arun Jaitley 1 week ago

    New Delhi: India's economic growth is expected to improve during the current fiscal from 4.7 per cent in 2013-14, helped by a revival in industrial growth, improved fiscal health and external economic situation, Parliament was informed on Friday. The Economic Survey 2013-14 tabled in the Lok Sabha early this month had...
  • Rupee slips to one-week low of 60.18 vs US dollar July 17, 2014

    Mumbai: The rupee on Thursday declined six paise to end at one-week low of 60.18 against the Greenback following demand for dollars in view of defence-related payments and importers. However, a positive closing in local equities, capital inflows and a weak dollar overseas helped cap the fall to some extent, a...
  • Sensex closes at over 1-week high; Hindalco logs best gain July 17, 2014

    Mumbai: Rising for the third session, the benchmark Sensex on Thursday edged higher to end at over one-week closing peak of 25,561.16 supported by gains in shares from metal and power sectors. After rising nearly 64 points, the BSE barometer pared gains amid profit-booking in realty, oil & gas and...
  • June trade deficit touches 11-month high at $11.76 billion July 16, 2014

    New Delhi: The June trade deficit touched 11-month high to $ 11.76 billion against $ 11.23 billion (MoM) and $ 11.28 billion (Y-o-Y). Though the imports dipped slightly to $ 38.24 billion against $ 39.23 billion on a month on month basis, it grew 8.3 per cent on a year...
  • Indian rupee opens at 60.23 per dollar; down 11 paise July 16, 2014

    Mumbai: The Indian rupee slipped in the opening trade on Wednesday. It has opened lower by 11 paise at 60.23 per dollar against 60.12 on Tuesday. The dollar clung to modest gains post comments by the head of the Federal Reserve that rates could rise sooner if employment continued to...
  • Retail inflation falls to 30-month low of 7.31 per cent in June July 14, 2014

    New Delhi: Retail inflation fell to 30-month low of 7.31 per cent in June, mainly on account of lower prices of food items, including vegetables, cereals and meat. The retail inflation, measured on consumer price index (CPI), was 8.28 per cent in May. Its lowest was 7.65 per cent in January,...
  • More tax concessions when economy improves: Finance Minister July 12, 2014

    New Delhi: Finance Minister Arun Jaitley on Saturday promised more concessions in income tax when the economy improves. "We do not want a high taxation regime. It was because of the high taxation regime of the previous government that inflation rose." "I think there was never a Union Budget since 1947, which...
  • Budget 2014: Economic growth targeted, says Adi Godrej July 11, 2014

    Reacting to the Narendra Modi government's first budget, Godrej group chairman Adi Godrej said, "I think the middle class has been catered to very strongly in this budget. Not that the other consumers in India have been totally left out but it is certainly the budget which has been particularly...
  • IIP signals economy on revival path, Budget 2014 to help: India Inc July 11, 2014

    New Delhi: India Inc on Friday said the sharp rise in industrial output in May is a sign the economy is on the road to recovery and expects the rebound to sustain on the back of policy measures unveiled in the maiden budget of the Narendra Modi-led government. "Rise in...
  • Poor monsoon in India threatens first drought in five years July 11, 2014

    New Delhi: Weak rainfall in India since June when the monsoon season starts, crucial to the country's agricultural earnings, has raised concerns of a first drought in five years, although weather experts are hopeful rains will revive in the next week. A poor monsoon cuts exports, stokes food inflation and leads...
  • Rupee rebounds 26 paise vs US dollar to 59.93; logs 1st weekly drop in 3 weeks July 11, 2014

    Mumbai: The rupee on Friday bounced back by 26 paise to end at 59.93 versus dollar as exporters and some banks sold the greenback, but steep losses in previous sessions forced the local currency to log its first weekly drop in three. After ending at 59.72 last Friday, the rupee depreciated...
  • It is not the end, but start of the journey, says Arun Jaitley on his maiden Budget July 10, 2014

    New Delhi: Finance Minister Arun Jaitley is confident that his government will be able to stick to the 4.1 per cent fiscal deficit target even though rating agencies have voiced skepticism about the Budget estimates. "This is not the end, this is just the start of the journey," Jaitley said...
  • Budget 2014: Main objective is to revive the economy, says Arun Jaitley July 10, 2014

    In his first post Budget interview to Lok Sabha TV, Finance Minister Arun Jaitley said, "Hope this budget leads to a revival of the economy without burdening the common man." ...
  • Had to clear issues left behind by UPA: Arun Jaitley July 10, 2014

    After tabling his first budget in Parliament, Finance Minister Arun Jaitley said, "I hope this leads to revival of economy without burdening the common man. I had to clear up issues that the UPA had left behind." ...
  • Budget 2014: This is not about UPA vs NDA, but about economy, says FM July 10, 2014

    New Delhi: Hours after delivering the Union Budget, Finance Minister Arun Jaitley on Thursday called its "a directional budget" adding that the government has laid down the roadmap and given relief to the common people. "Reasonable taxation is required for providing growth to manufacturing sector. People must have more money and...
  • Jaitley's Budget cautious on fiscal prudence, seeks to push growth July 10, 2014

    In the first Budget of the NDA's Narendra Modi Administration, Union Finance Minister Arun Jaitley presented a cautious testament of fiscal prudence combined with steps for encouraging increased investments, for boosting industrial infrastructure through roads, airports, ports and smart cities, and for providing cost breaks to specific industries. He also...
  • Rupee logs worst drop in a month, down 44paise at 60.19 vs dollar July 10, 2014

    Mumbai:Moving in tandem with equities, the rupee today tumbled 44 paise, posting its biggest drop in nearly a month, to end at 60.19 against the dollar on a day the Narendra Modi-led government presented its maiden Budget. A firm dollar overseas and demand for the US currency from importers weighed on...
  • Arun Jaitley set to present Modi government's maiden Budget today July 10, 2014

    New Delhi: The Narendra Modi government's maiden Budget will be presented in Parliament on Thursday by Finance Minister Arun Jaitley. With high expectations to meet, it remains to be seen whether the Budget will be a bitter pill for the common man in its bid to revive the economy. It is...
  • India @ 9 with Anubha Bhonsle July 9, 2014

    Catch the day's top stories with Anubha Bhonsle on India @ 9. ...
  • Economic Survey suggests economy was robust in UPA regime: Congress July 9, 2014

    New Delhi: On the eve of the Union Budget, Congress on Wednesday latched on to the Economic Survey in seeking to puncture government claims that it has inherited 'empty coffers' and a bad economy. Party spokesman Abhishek Singhvi quoted profusely from the highlights of the Survey presented to Parliament on Wednesday,...
  • Economic Survey presents realistic macro-economic picture: India Inc July 9, 2014

    New Delhi: Terming the Economic Survey 2013-14 as a "realistic" assessment of the current picture, India Inc on Wednesday hoped that the Budget will address key issues like infrastructure development and implement measures outlined in the document to revive growth. "The bold reform measures outlined in the Economic Survey need to...
  • Sensex tanks by over 300 points; capital goods, metals down July 11, 2014

    Mumbai: The benchmark Sensex on Wednesday fell 137.30 points to end at over one-week low of 25,444.81 on concerns highlighted by the Economic Survey and diminishing expectations from the Narendra Modi-led government in its maiden Union Budget on Thursday. Weakness in global equities also dampened the sentiment. "After slight disappointment from...
  • Top British ministers woo India under Modi July 8, 2014

    Mumbai: Britain's finance minister announced a $428 million deal with India's military on Monday after arriving in the country to seek stronger trade and investment ties with new Prime Minister Narendra Modi's government. George Osborne and Foreign Secretary William Hague landed in Mumbai for the two-day visit to drum up business...
  • Rupee recovers 8 paise vs dollar in early trade July 8, 2014

    Mumbai: The rupee on Tuesday recovered by 8 paise to 59.93 against the US dollar in early trade at the Inter bank Foreign Exchange market on increased selling of the American currency by exporters. Besides, strengthening of the euro and yen against the dollar in overseas market and a higher opening...