ECONOMIC

  • Key highlights of Economic Survey 2014-15 2 hours 6 minutes ago

    New Delhi: The survey prepared by the finance ministry's chief economic adviser Arvind Subramanian on the state of Indian economy was released ahead of Saturday's Union Budget announcement for 2015/16 fiscal year that begins on April 1. Centre forecast GDP growth of over 8 per cent (y/y) in the 2015/16 fiscal...
  • Jaitley presents Economic Survey, states India an attractive destination for long-term investment 2 hours 56 minutes ago

    Finance Minister Arun Jaitley tables the Economic Survey for FY 2014-15 ahead of the Union Budget. A growth rate of over 8 per cent is expected for the coming year. According to an Economic Survey the growth in 2014-15 is largely driven by domestic demand. ...
  • Economic Survey 2014-15: 'Scope for big bang reforms' as growth pegged at 8 per cent for next year 5 hours 59 minutes ago

    New Delhi: Economic Survey 2014-15, tabled by Finance Minister Arun Jaitley in Parliament on Friday, pegs a growth rate of over 8 per cent for the next financial year while inflation has declined by over 6 percentage points since late 2013. "There is scope for big bang reforms now," said Jaitley...
  • Live: Economic Survey tabled in Parliament, GDP growth to be above 8%, inflation falls 7 hours 9 minutes ago

    The Centre presents the economic survey in the Parliament a day before the Union budget. The survey reflects the government's thoughts on the state of the economy. ...
  • PM Modi's decisive leadership to bring India, US closer: America 11 hours 23 minutes ago

    Washington: Praising the decisive leadership style of Prime Minister Narendra Modi on both the domestic and foreign policy fronts, a top American spy official told lawmakers here that India under Modi would work more closely with the US on security, terrorism and economic issues, despite maintaining an independent foreign policy. "Prime...
  • Government may soon take a decision on relaxing FDI norms for NRIs 2 days ago

    New Delhi: The government may soon take a decision on liberalising foreign direct investment norms for NRIs and overseas citizens of India as it aims to increase capital flows into the country. A decision in this regard is expected to be taken at the highest level soon, sources said. In order...
  • No change in ease of doing business under Modi's first 9 months: HDFC Chairman Deepak Parekh February 18, 2015

    Mumbai: Pitching for relaxing "administrative controls" to improve ease of doing business, top industry leader Deepak Parekh has said that impatience has begun creeping in among businessmen as nothing has changed on ground in first nine months of the Narendra Modi government. He said the industry is still optimistic about the...
  • Sensex up 184 points, capital goods surge February 18, 2015

    Mumbai: A benchmark index of the Indian equities markets, the 30-scrip Sensitive Index (Sensex), closed on Wednesday's trade 184 points or 0.63 per cent up as capital goods stocks surged. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day's trade with healthy gains. It ended on...
  • PM Modi promises more reforms; rolls out red carpet to investors February 14, 2015

    Pune: Ahead of the Budget, Prime Minister Narendra Modi on Saturday assured investors more reforms as he rolled out the red carpet to multinationals, inviting them to make use of the large pool of highly talented youth in the country. "I invite all those who want to participate in the economic...
  • 'The notion of individual privacy is effectively dead' January 23, 2015

    Davos: Imagine a world where mosquito-sized robots fly around stealing samples of your DNA. Or where a department store knows from your buying habits that you're pregnant even before your family does. That is the terrifying dystopian world portrayed by a group of Harvard professors at the World Economic Forum in...
  • Internet will 'disappear,' says Google's Eric Schmidt January 23, 2015

    Davos: Google boss Eric Schmidt predicted on Thursday that the Internet will soon be so pervasive in every facet of our lives that it will effectively "disappear" into the background. Speaking to the business and political elite at the World Economic Forum at Davos, Schmidt said: "There will be so many...
  • Subsidies to be rationalised, joint session on insurance: Arun Jaitley January 23, 2015

    Davos: Wooing global investors, Finance Minister Arun Jaitley on Thursday hinted at rationalising subsidies on kerosene and cooking gas, rebuilding credibility of taxation structure and calling a joint session of Parliament to get the insurance bill passed if it is not cleared in the coming session. Laying the fiscal road map...
  • Slide in global oil prices great for India: Economic Professor at Harvard University January 22, 2015

    Economic Professor at Harvard University said that investors at the World Economic Forum were buzzing with the names of only 2 countries US and India. ...
  • Sachin Tendulkar invited to speak at World Economic Forum: sources January 22, 2015

    According to sources, Bharat Ratna awardee Sachin Tendulkar has been invited by PepsiCo CEO Indra Nooyi to speak on team building and leadership aspects at Davos on Thursday. ...
  • Government to keep up pace on reforms: Arun Jaitley January 22, 2015

    Davos: Finance Minister Arun Jaitley assured that the government will keep up pace on reforms but said he doesn't want to build expectations in the run up to the Budget. "I am not building up the expectations but yes we are going to keep up the pace. I have already...
  • Economic ties, defence deals to top the talks during Obama's India visit January 22, 2015

    Washington: US President Barack Obama will arrive in India on Sunday for the second time, to build on what he calls one of the 'defining relationships of the 21st Century'. Here are some key areas likely to be discussed during his visit: Strategic importance India's size, location, fast-growing economy and potential as a...
  • Automation to cause temporary replacement of jobs: Vishal Sikka January 21, 2015

    Davos: As companies are moving towards automation, Infosys CEO Vishal Sikka on Wednesday said that there would be temporary replacement of jobs and lower IT costs. Sikka, who was speaking as a panelist in a session on 'Inclusive Growth in the Digital Age' at the World Economic Forum, said that...
  • India's power sector set for $250 billion investment, says Piyush Goyal January 21, 2015

    Davos: Confident about foreign and domestic investors participating in a big way in the Indian growth story, Union Minister Piyush Goyal on Wednesday said that the country's power sector is set for $250 billion investment across different segments. Speaking on the sidelines of the World Economic Forum (WEF) meeting, Goyal...
  • Modi government to present its second Union Budget on February 28 January 21, 2015

    New Delhi: Prime Minister Narendra Modi's government will present its second General Budget on February 28 while the Economic Survey will be out a day earlier on February 27. The Railway Budget will be unveiled on February 26, four days after the start of Parliament's Budget Session. The session will start...
  • World Bank trims estimate of Ebola economic cost January 21, 2015

    Washington: The World Bank trimmed its estimates of the economic damage of the Ebola epidemic on Tuesday, but warned that the three main affected countries would still bear a heavy cost. After warning last October that the outbreak, which has killed more than 8,600, could wreak $25 billion in economic losses...
  • India's growth rate will increase by 6.3 per cent this year, surpass China's by 2016: IMF January 20, 2015

    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 January 19, 2015

    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...