Deficit

  • Exports up 3.98 per cent to $312.35 billion in 2013-14 11-04-2014 03:25 PM

    New Delhi: India's exports grew by 3.98 per cent to $312.35 billion in FY 2013-14 while imports dipped by 8.11 per cent during the period. Imports declined to $450.94 billion, narrowing the trade deficit to $138.59 billion in the last fiscal. In FY 2012-13, trade deficit stood at $190.33 billion....
  • Modi represents crony capitalism, big businesses support him: FM 31-03-2014 04:36 PM

    New Delhi: Finance Minister P Chidambaram on Monday hit out at Narendra Modi, the prime ministerial candidate of the BJP, saying he represented "crony capitalism" and big businesses which liked it, supported him. "Modi is associated with crony capitalists. Big businesses which are comfortable with the idea support him," he...
  • April-January fiscal deficit at $ 86 billion, crosses full year target 28-02-2014 04:46 PM

    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...
  • Ashamed at the way business transacted in Parliament: Chidambaram 21-02-2014 03:41 PM

    Karan Thapar: Hello and welcome to Devil's Advocate. How credible is the governments claim that it has reduced the fiscal deficit to 4.6 per cent of GDP. That is one of the key issues I should explore today with the finance minister P Chidambaram. Karan Thapar: Twenty four hours after...
  • Rajasthan industry welcomes state's interim budget 20-02-2014 09:18 PM

    Trade and industry bodies om Thursday welcomed the interim budget of Rajasthan, saying that thegovernment has focused on fiscal consolidation. "The focus of the chief minister to keep fiscal eficitbelow 3 per cent, checking the fiscal deficit at 2.86 per centfor the current fiscal year is really commendable," Ratnesh PKashyap,...
  • CAD to be $ 45 bn this year: Chidambaram 17-02-2014 12:07 PM

    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...
  • Fiscal deficit will be contained at 4.6 pc of GDP: Chidambaram 17-02-2014 11:50 AM

    New Delhi: The government on Monday said the fiscal deficit for the current financial year will be contained at 4.6 per cent of GDP. "Let me begin with the good news. Fiscal deficit for 2013-14 will be contained at 4.6 per cent of GDP, well below the red line that...
  • Budget 2014: As it happened 17-02-2014 10:19 AM

    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:...
  • UPA-II to present its last Budget today, fears Telangana disruption 17-02-2014 07:50 AM

    New Delhi: Finance Minister P Chidambaram will present the last interim budget of the UPA-II on Monday in Parliament. Chidambaram will present the vote on account on Monday, giving an estimate of funds required to meet expenditure until a new government is in place. Chidambaram will give a report card...
  • Fiscal deficit in Vote on Account may impress market: Choksey 14-02-2014 05:39 PM

    According to Deven Choksey, government would probably discuss fiscal deficit which is much healthier, but there is unlikely to be any change in market movement due to Vote on Account on Monday. According to Deven Choksey, government would probably discuss fiscal deficit which is much healthier, but there is unlikely...
  • Trade deficit narrows on 77 per cent drop in gold imports 11-02-2014 03:58 PM

    India's trade deficit narrowed in January, helped by a 77 per cent drop in imports of gold and silver while exports ticked up, improving the outlook for the country's fragile current account balance. The trade ministry said it had recommended easing curbs on gold imports, prompted by the brighter trade...
  • December trade deficit narrows to 10.14 billion dollar 10-01-2014 12:08 PM

    Mumbai: The December 2013 trade deficit for India came in at 10.14 billion dollar versus 17.19 billion dollar in December in 2013. The reduction was driven by a 15.25 per cent fall in imports, which came in at 36.49 dollar per cent while exports grew at 3.5 per cent to...
  • Rajasthan's fiscal deficit worsened in Congress regime: Vasundhara Raje 24-12-2013 12:23 AM

    Newly-elected Rajasthan Chief Minister Vasundhara Raje on Monday asserted that improving the state's economy will be her top priority, saying fiscal situation had worsened in the previous Congress regime with the deficit touching 2.48 per cent of GDP in 2013-14. "Fiscal deficit was 6.6 per cent of gross domestic product...
  • Defeat of Congress may lead to higher fiscal deficit: Fitch 10-12-2013 02:45 PM

    Global rating agency Fitch on Tuesday expressed fear that the defeat of Congress in four of the five state Assembly elections could lead to higher fiscal deficit target as the government would be constrained to curb expenditure. "The setback faced by the Congress Party in state elections could potentially raise...
  • Chidambaram should apologise for his 'wrong and hasty' remark on Modi: BJP 01-12-2013 07:47 PM

    New Delhi: BJP on Sunday termed as "wrong and hasty" Finance Minister P Chidambaram's statement that Narendra Modi was giving lessons in economy and sought an apology from him. The controversy erupted when Chidambaram said Modi had quoted him wrongly as having claimed that buying gold leads to inflation. The...
  • October trade deficit jumps to 10.56 billion dollar 11-11-2013 01:01 PM

    India's trade deficit jumped in October after having fallen to a two-and-a-half-year low the previous month, as overseas purchases of gold picked up ahead of the festival season, provisional government data showed on Monday. The deficit for the month stood at 10.56 billion dollar, compared with 6.7 billion dollar in...
  • Governance deficit pushing onion prices upwards, says Tariq Anwar 08-11-2013 04:06 PM

    Onion prices have soared mainly due to 'governance deficit' and issues related to licensing of wholesalers, Minister of State for Agriculture Tariq Anwar said. "The recent rise in prices of onion are clear case of governance deficit. If farmers get paid Rs 10 per kg, while the consumers pay anywhere...
  • S&P says next government's agenda to determine rating 08-11-2013 09:52 AM

    Standard & Poor's said on Thursday it will review India's rating once a new government due to be elected next year lays out its policy agenda, reducing the prospect of a destabilising downgrade to below investment grade ahead of the polls. That could delay the next review until after May...
  • US budget deficit down to USD 680 bn, lowest in 5 years 31-10-2013 07:19 AM

    Washington: For the first time in five years, the US government has run a budget deficit below USD 1 trillion. The government said on Wednesday that the deficit for the 2013 budget year totalled USD 680.3 billion, down from USD 1.09 trillion in 2012. That's the smallest imbalance since 2008,...
  • Sensex closes at 20,272.91, up 23.65 points 10-10-2013 09:40 AM

    Mumbai: The BSE Sensex rose on Thursday to its highest close in nearly three weeks, as Tata Motors surged to a record high on unit Jaguar Land Rover's sales while Infosys also edged up ahead of its July-September results on Friday. Tata Motors Ltd provisionally rose 5.6 per cent after...
  • Drop in Trade deficit: Much ado about something? 10-10-2013 09:30 AM

    The recent persistent drop in India's trade deficit has given us a reason to rejoice. Perhaps, it's a Diwali gift from goddess Lakshmi. But, what real implications if any does it have for the Indian economy and what to expect in the near future? The trade deficit has fallen as...
  • Trade deficit dips to $6.76 bn in September 2013 09-10-2013 12:30 PM

    New Delhi: India's exports grew 11.15 per cent in September 2013 and imports declined 18.1 per cent amid a sharp fall in inward shipments of gold and silver, taking the trade deficit to the lowest level in 30 months. Exports last month climbed to $27.68 billion, while imports stood at...
  • Current Account Deficit to be much lower than initial forecast, says FM 03-10-2013 12:14 AM

    New Delhi: Buoyed by better-than-expected Q1 current account deficit (CAD) numbers, Finance Minister P Chidambaram said he is confident of closing the fiscal with a better set of numbers than initially projected. The minister also said economic growth closer to 5.5 per cent should be considered very satisfactory and that...
  • Rupee ends at 62.46 vs US dollar, down 14 paise 01-10-2013 10:10 AM

    Mumbai: The rupee on Tuesday ended 14 paise down at 62.46 versus US dollar against it close on Monday at 62.60 versus US dollar. The rupee opened with a marginal gain of 11 paise at 62.49 per dollar. Meanwhile, the BSE benchmark Sensex on Tuesday rebounded from 3-week lows to...
  • Gold, oil import pushed CAD to 4.9 per cent of GDP in Q1, says RBI 30-09-2013 05:57 PM

    High imports of gold and oil pushed Current Account Deficit (CAD) to 4.9 per cent of GDP to USD 21.8 billion in the April-June quarter of the current fiscal, RBI said on Monday. CAD, the difference between inflow and outflow of foreign exchange, was 4.4 per cent or USD 16.9...
  • India's trade deficit narrows to $10.9 billion 10-09-2013 05:23 PM

    New Delhi:India's trade deficit narrowed to $10.9 billion in August from $12.27 billion in the previous month on the back of higher exports and lower imports, government data showed on Tuesday. Exports jumped by 12.97 percent to $26.13 billion in August. This is the second straight month of a healthy...
  • Diesel price hike the only option to reduce oil pool deficit: ONGC 03-09-2013 12:14 PM

    New Delhi: The Oil and Natural Gas Corporation (ONGC) said that a hike in diesel price is the only option to reduce the oil pool deficit as the cost of production has increased significantly. ONGC also expressed its fear that the risk of subsidy burden in Fiscal Year 2014 is...
  • Rupee fall, oil price hike will result in Rs 1,80,000 crore loss: Moily 31-08-2013 03:25 PM

    New Delhi: Battling double whammy of dipping rupee and surging global oil rates, Oil Minister M Veerappa Moily has written to Prime Minister Manmohan Singh saying without corrective steps losses on sale of subsidised fuel sales will rise to unprecedented Rs 1,80,000 crore. In a detailed note, Moily told the...
  • Use gold reserves to revive the economy, suggests Anand Sharma 28-08-2013 07:05 PM

    New Delhi: As the gold prices touch a record high of Rs 34,500 per 10 gram with a biggest ever single day surge of Rs 2,500 in opening trade in bullion market on Wednesday, Commerce and Industry Minister Anand Sharma said that monetising some part of gold reserves at today's...
  • PM seeks USD 25 billion cut in oil import bill to narrow current account deficit 27-08-2013 07:43 PM

    Prime Minister Manmohan Singh has sought USD 25 billion cut in oil import bill to narrow current account deficit, Oil Minister M Veerappa Moily on Tuesday said. India, which paid about USD 170 billion last fiscal for importing oil, is renewing imports of the fuel from Iran as unlike imports...