ECONOMICS

  • Rupee hits three and half month low of 63.56 per dollar, down 24 paise against dollar Yesterday

    Mumbai: Continuing its losing streak for the second straight session, the rupee on Friday closed at a fresh three-and-a-half month low of 63.56 against the US dollar after plunging to 63.64 in intra-day trade on sustained demand for the American currency from importers amid weaker equities. After touching an intra-day low...
  • Pakistan, China are true brothers, says Nawaz Sharif 4 days ago

    Despite India's concerns, China has struck a $46 billion deal with Pakistan to construct an economic corridor through Pakistan occupied Kashmir. Pakistam Prime Minister Nawaz Sharif said, "Pakistan and China are true brothers. Pakistan is united in having strong ties with China. Pakistan-China economic corridor is a product of joint...
  • The name of the proposed China-Pakistan think tank is so bad that we can't mention it here 5 days ago

    Pakistan and China, according to pakistantoday.com.pk, have decided to start a think tank for the benefit of the China-Pakistan Economic Corridor, called 'Research and Development International'. And while the name of this think tank is seemingly harmless, it is the acronym that takes the cake. 'Research and Development International' has the...
  • India's ability to absorb economic shocks is stronger: Arun Jaitley 1 week ago

    Washington: With the vast depth and size of its market, India's ability to absorb international shocks is far stronger as reflected in the rupee remaining relatively stable, Finance Minister Arun Jaitley has said. "International factors obviously have an impact. Considering the vast depth and size of the Indian market...our ability...
  • Moody's action validates reform steps; want rating upgrade: CEA April 9, 2015

    New Delhi: Chief Economic Adviser Arvind Subramanian on Thursday said upgrading of India's outlook to positive by Moody's validates the government's reform thrust as well as the fiscal discipline roadmap, and expressed hope for a rating upgrade in near future. ...
  • Raghuram Rajan calls on Arun Jaitley, discuss macro-economic situation April 8, 2015

    New Delhi: A day after presenting first bi-monthly monetary policy of 2015-16, RBI Governor Raghuram Rajan on Wednesday called on Finance Minister Arun Jaitley and is believed to have discussed macro economic situation and the new monetary policy framework. Besides Jaitley, he also met Minister of...
  • Growth, environment can co-exist; India must lead fight on climate: PM Modi April 6, 2015

    New Delhi: Seeking to scotch "lies" being floated about the Land Acquisition Bill, Prime Minister Narendra Modi on Monday asserted that it synergized India's growth imperative with the need for environment protection, while calling for the country to demonstrate leadership in tackling the global threat of climate change. Inaugurating the state...
  • Standard Chartered says India's real growth 'very elusive' April 5, 2015

    Mumbai: India's real growth remains "very elusive" and markets have "resigned" to a slower recovery, while foreign investors are still optimistic for want of alternatives, British major Standard Chartered has said. "A lot of macro parameters have improved for sure, but growth has been very elusive. The high new GDP...
  • Over 2,000 people evacuated after underground fire near London School of Economics April 1, 2015

    London: More than 2,000 people were evacuated on Wednesday from buildings in central London as toxic smoke filled the streets after an underground fire near London School of Economics. Firefighters said power cables had started a fire beneath the pavement in Holborn and they could not put it out until...
  • DU sets up weather station on Delhi School of Economics' terrace March 29, 2015

    New Delhi: Finding the data provided by Indian Meteorological Department (IMD) inadequate for studying the national capital's "micro-climate", Delhi University has set up its own weather station for more accurate and detailed weather updates. The varsity has also claimed that the weather station, which will record temperature, humidity, wind speed, rainfall...
  • IMF approves $6.6 billion for Pakistan in 3-year arrangement March 28, 2015

    Islamabad: The IMF has approved giving US dollar 6.64 billion to Pakistan over three years to support the country's economic reforms and growth, saying it has "abundant potential" despite the challenges it faces, according to a media report on Saturday. The approval enables an initial disbursement of about US dollar 544.5...
  • HDFC Bank to focus on expanding business in Andhra Pradesh March 25, 2015

    Hyderabad: The HDFC Bank will focus on expanding its business in Andhra Pradesh, where hectic economic activity is likely with proposed new industries and building of a new state capital. The private bank will decide on the number of new branches depending on the pace of the economic activity in the...
  • India's economy likely to grow 8 pc in next fiscal: Report March 22, 2015

    Mumbai: The country's economy is likely to clock 8 per cent growth in the next financial year and 8.3 per cent in 2016-17, says a report. "India is the only BRIC country, where growth will accelerate, to 8 per cent in FY16 and 8.3 per cent in FY17, based on...
  • India, US have mutual desire for naval, maritime ties, says Admiral Kevin M Donegan March 19, 2015

    Washington: With the convergence of strategic interest in the Indian Ocean there is a mutual desire for a deeper naval and maritime co-operation between India and the US, top Pentagon commanders have said. "The convergence of strategic maritime interests in the Indian Ocean region to include the security of critical energy...
  • Sri Lanka should not worry about India's economic size: PM Modi March 13, 2015

    Colombo: Asking Sri Lanka not to worry about India's economic size, Prime Minister Narendra Modi on Friday said both the countries should move boldly to conclude a Comprehensive Economic Partnership Agreement and attract investments. He said Sri Lanka has the potential to be India's "strongest economic partner" in the region and...
  • PM Modi passes first major economic reform with insurance overhaul March 13, 2015

    New Delhi: Prime Minister Narendra Modi passed his first major economic reform almost a year after coming to power, as Parliament voted late on Thursday to allow more foreign investment in the insurance sector. Lawmakers in the Upper House agreed to increase the foreign investment limit in local insurers to 49...
  • IMF raises growth forecast for India to 7.2% in FY15 but warns of both global and domestic risks March 12, 2015

    Mumbai: The International Monetary Fund has raised the growth forecast for India in the current fiscal to 7.2 per cent but warned that both global and domestic risks could rock the boat. The IMF says India is poised to grow at a faster pace in this fiscal, especially given the...
  • Alfred Nobel's will on display for first time in Stockholm March 5, 2015

    Stockholm: Alfred Nobel's will creating the prestigious awards that bear his name will go on public display for the first time in Stockholm next week, a spokeswoman said on Wednesday. The Swedish scholar and industrialist who passed away in 1896 left a will demanding most of his fortune be distributed...
  • PM Modi pitches for innovation in I-T sector for economic progress March 2, 2015

    Prime Minister Narendra Modi emphasised on the importance of innovation in the I-T sector for national economic progress. Addressing the silver jubilee of the The National Association of Software and Services companies in the national capital, Modi said, "Connectivity is one of the factors which affects GDP. Better and faster...
  • Budget 'credit neutral' from a ratings perspective: Moody's March 1, 2015

    Mumbai: Moody's Investors Service said India's 2015/16 budget unveiled on Saturday was "credit neutral," adding the agency would monitor whether the government can fulfill its pledge to meet its fiscal deficit by boosting economic growth. The government on Saturday pushed back the deadline to cut the fiscal deficit to 3 per...
  • Union Budget 2015: Finance Minister did a great job of reviewing economy, says Suresh Prabhu February 28, 2015

    Finance Minister Arun Jaitley presented the Union Budget 2015 in Parliament on Saturday aimed at high growth. Reacting on the budget, Railway Minister Suresh Prabhu said that Finance Minister Arun Jaitley has done a amazing job of reviewing the economic growth. ...
  • India @ 9 with Zakka Jacob February 27, 2015

    Catch the day's top stories with Zakka Jacob on India @ 9. ...
  • Food subsidies need overhaul to curb losses: Economic Survey February 27, 2015

    New Delhi: India's food subsidy regime needs to be overhauled with direct cash transfers to rein in losses in the public distribution of dietary staples to the poor, the Economic Survey said on Friday. The Economic Survey, the basis for Finance Minister Arun Jaitley's 2015/16 budget on Saturday, said reform of...
  • Key highlights of Economic Survey 2014-15 February 27, 2015

    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 February 27, 2015

    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 February 27, 2015

    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 February 27, 2015

    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 February 27, 2015

    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 February 24, 2015

    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...