ECONOMIC

  • India's growth rate will increase by 6.3 per cent this year, surpass China's by 2016: IMF 6 days ago

    Washington: India is expected to grow at 6.3 per cent this year and 6.5 per cent in 2016 by when it is likely to cross China's projected growth rate, the IMF said while terming the new government's reforms as "promising" but insisted that their implementation is key. In 2014, India's growth...
  • Every fishing vessel in India's EEZ to be tracked: Manohar Parrikar 1 week ago

    Panaji: The government is working on a "special mechanism" to track all vessels operating in India's Exclusive Economic Zone (EEZ), Union Defence Minister Manohar Parrikar said on Monday. "Any vessel entering India's exclusive economic zone will be tracked through a special mechanism. Every fishing boat will be given an electronic identity...
  • World Bank cuts global economic outlook despite oil price drop January 14, 2015

    Washington: The World Bank on Tuesday lowered its global growth forecast for 2015 and next year due to disappointing economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices. The global development lender predicted the global economy would grow 3 percent...
  • India on the cusp of a second economic revolution, says Jagdish Bhagwati January 14, 2015

    Mumbai: Renowned economist Jagdish Bhagwati said that India is on the cusp of a second economic revolution. Speaking exclusively to Network18, Bhagwati praised Prime Minister Narendra Modi and the first steps taken by his government. He expects the Modi government to soften it's stance on FDI in retail sector. He also...
  • World Bank projects 6.4 per cent economic growth in India in 2015 January 11, 2015

    Gandhinagar: Indian economy is likely to grow at 6.4 per cent in 2015 and accelerate further in the next year on the back of steps being taken by the Narendra Modi-led NDA government, World Bank President Jim Yong Kim said on Sunday. Speaking at the...
  • Global slow growth opportunity for India, says Arun Jaitley January 7, 2015

    Kolkata: Observing that India needs to create an environment for cyclic investments and ease norms of doing business, Union Finance Minister Arun Jaitley on Wednesday pointed to the ongoing global slow growth as an opportunity for the country as investors are eyeing its market. If the Union Minister, during his address...
  • Rupee drops to one-week low of 63.41 vs dollar, down 12 paise January 5, 2015

    Mumbai: The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback on weakness in local equities amid fresh dollar demand from importers. A firm dollar overseas too weighed on the rupee even as participants took heart from renewed capital inflows...
  • Esther Duflo wins Infosys Prize for Social Sciences for work in development economics December 30, 2014

    Professor Esther Duflo has won the Infosys Prize for Social Sciences for her pioneering work in the field of development economics and her team's contribution in shaping social policies in India. She's the first non-Indian to win the award. ...
  • RBI pitches for structural reforms; sees 6 per cent inflation in 2015 December 29, 2014

    Mumbai: Pitching for structural reforms to reinforce investor confidence, RBI on Monday said falling inflation and political stability have helped check the macroeconomic vulnerabilities, while retail inflation is expected to stabilise near 6 per cent level in 2015. The central bank, however, flagged lower revenue mobilisation this fiscal as a...
  • Political obstruction makes PM Modi's road to reform a rocky one December 24, 2014

    New Delhi: Parliamentary obstruction scuppered Prime Minister Narendra Modi's economic agenda in a month-long session that ended on Tuesday, and the prospect of further deadlock means he will find it hard to deliver quickly on promises of reform. Lawmakers left without voting on a long-delayed Bill to raise the cap on...
  • Third-quarter US economic growth strongest in 11 years December 24, 2014

    Washington: The US economy grew at a 5 per cent clip in the third quarter, its quickest pace in 11 years and the strongest sign yet that growth has decisively shifted into higher gear. Some of the strength appears to have been sustained, with other data on Tuesday showing consumer spending...
  • Barack Obama's year-end message to Americans: I'm not a lame duck December 20, 2014

    Washington: If US President Barack Obama is feeling the pain from a rough year at the office, he did a great job of covering it up on Friday. Before boarding Air Force One for a vacation in Hawaii, the President gave a year-end news conference with a spring in his step,...
  • IMF agrees to release $ 1 billion to Pakistan December 18, 2014

    Washington: The International Monetary Fund (IMF) has agreed to release another USD 1.05 billion in financial assistance to Pakistan as part of its effort to help the country overcome economic crisis. With this, the total disbursements under the arrangement is about USD 3.2 billion, a statement said after the IMF Executive...
  • Maharashtra CM orders probe against Ajit Pawar, Sunil Tatkare in irrigation scam December 12, 2014

    Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Friday gave a green signal to the states anti-corruption bureau to conduct an open enquiry against former deputy chief minister Ajit Pawar and state Nationalist Congress Party (NCP) president Sunil Tatkare in the irrigation scam. The Maharashtra Irrigation scam was a government scam which...
  • India against Russia sanctions, to add vigour to ties in Putin-Modi meet December 6, 2014

    New Delhi: As Russia grapples with a floundering sanctions-hit economy, India set the tempo for Russian President Vladimir Putin's two-day India visit next week, saying that it has clearly spelt out that it "cannot be party" to any economic sanctions against its old friend. Putin is visiting India on December 10-11...
  • A change in the monetary policy stance is likely early next year: Raghuram Rajan December 2, 2014

    The Indian economy is finally showing signs of being back on track. Falling crude oild prices have helped but the RBI Governor is yet to cut rates and wants more time. ...
  • Is the Indian economy on the path of good times? December 2, 2014

    The Reserve Bank of India (RBI) has set a target of 6 per cent for consumer price index by 2016, said RBI Governor Raghuram Rajan adding that inflation is near comfort zone. So now the question arises Is the Indian economy on the path of good times? ...
  • Nawaz Sharif kicks off China-Pakistan Eco Corridor with motorway project November 30, 2014

    Islamabad: China and Pakistan have kicked off their multi-billion dollar Economic Corridor project that passes through Pakistan-occupied Kashmir (PoK) by laying the foundation of a fenced four-lane motorway, setting in motion a mammoth project connecting the two countries. Pakistan Prime Minister Nawaz Sharif performed the groundbreaking of a section of the...
  • GDP growth set to weaken, business wants reforms more than rate cut November 27, 2014

    Mumbai: Anticipating data out on Friday will show weakening economic growth, the finance ministry will argue for an interest rate cut, but bankers and company executives say the key to recovery lies in how fast Prime Minister Narendra Modi acts on reforms. "Interest rates are also important, but more important is...
  • India can grow at 9 per cent, become $10 trillion economy in 20 years: Report November 24, 2014

    New Delhi: India has the potential to achieve 9 per cent growth rate and become a $10 trillion economy by 2034 on the back of concerted efforts by the corporate sector and a constructive role played by the government, a PwC report said on Monday. "India is on the cusp...
  • Manufacturing growth may moderate in December quarter: FICCI November 23, 2014

    New Delhi: The country's manufacturing sector is likely to witness a moderate growth in the third quarter of this fiscal, according to a FICCI survey. Showing signs of recovery, industrial production grew at a three-month high of 2.5 per cent in September on account of better mining and manufacturing output....
  • Devendra Fadnavis wants business-friendly policies to boost economy November 19, 2014

    Mumbai: Asserting his willingness to make changes in the Special Economic Zone (SEZ) policy, Maharashtra Chief Minister Devendra Fadnavis has said the only way to boost the state's economy is by easing the business culture. Maharashtra's growth rate has plummeted to its lowest level in the past four years, he...
  • G20 2014: Can politics and economic reforms be delinked? November 15, 2014

    Prime Minister Narendra Modi said reform process is bound to face resistance and wanted it to be insulated from political pressures. Making a strong pitch for economic reforms, Modi told fellow G20 leaders at a Retreat that reforms should lead to simplification of processes and that methods of governance must...
  • G20 to focus on economic growth, infrastructure and tax avoidance November 15, 2014

    Brisbane: Boosting global economic growth, encouraging private sector investment in infrastructure, and cracking down on multinational companies which avoid tax were the top issues on the G20 agenda, Australian Treasurer Joe Hockey said on Saturday. Hockey, who is chair of the G20 finance ministers, made these remarks before finance ministers of...
  • People believe relationship and economic ties between Myanmar and India will improve November 13, 2014

    CNN-IBN's Pallavi Ghosh spoke to Indian businessmen and women living in Myanmar. People strongly believe that with the help of PM Modi and the new engagement, relationship and economic ties will grow between the two nations. ...
  • Industrial output growth picks up in September to 2.5 per cent November 12, 2014

    New Delhi: India's industrial output grew a faster-than-expected 2.5 per cent year-on-year in September, helped by a rebound in capital goods sector, government data showed on Wednesday. Analysts polled by Reuters had forecast the output to grow a meagre 0.6 per cent. Industrial production was upwardly revised to 0.5 per cent...
  • Investor confidence of India on an all-time high: Piyush Goyal November 6, 2014

    New Delhi: As top business leaders debated growth outlook for India under its five-month-old government, Union Minister Piyush Goyal said that investor confidence of the country has reached an all-time high. "When business succeeds, we will improve the lives of the people," Goyal said here at India Economic Summit as...
  • India, isolated, toughs it out in WTO food-stockpiling row November 6, 2014

    New Delhi: India defied the world on Wednesday in a row over food stockpiling that has crippled attempts to reach a global trade agreement, raising doubts that backroom talks can reach a compromise before a Group of 20 summit in November. At the end of July, Prime Minister Narendra Modi pulled...
  • India to lose over $4.58 trillion to non-communicable diseases November 5, 2014

    New Delhi: India stands to lose $4.58 trillion due to non-communicable diseases and mental disorders between 2012 and 2030, an amount more than double India's annual GDP, according to a report. Out of this, cardio vascular diseases (CVDs) will account for $2.17 trillion and mental...
  • Ashamed to say my children studied abroad, says Uday Kotak November 5, 2014

    New Delhi: Pitching for major reforms in the country's education system, noted banker Uday Kotak on Wednesday said that he is "ashamed" to say that his children had to go overseas to study as he felt those courses were better abroad. Speaking during a session on education at the India...