ECONOMICS

  • IMF agrees to release $ 1 billion to Pakistan 3 hours 0 minutes ago

    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 6 days ago

    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...
  • India can grow at 8-9 per cent; good governance key: Arun Jaitley October 30, 2014

    New Delhi: India has the capacity to grow at 8-9 per cent and good governance would make economic expansion "more exuberant", Finance Minister Arun Jaitley said. "I have always wondered to myself that in the last two years with average to moderate governance (economic growth was sub-five per cent). "India...
  • RSS top brass meets Union Ministers to discuss economic issues October 28, 2014

    New Delhi: Some Union ministers met leaders from RSS and its affiliates in New Delhi on Tuesday. Discussion was primarily on the economic issues. The RSS leaders Suresh Soni, Krishna Gopal, Dattatreya Hosabale and Bajranglal Gupta were present in the meeting. From BJP Murlidhar Rao, Ram Madhav and Purshottam Rupala...
  • India ranks 114 out of 142 nations on World Economic Forum's Gender Gap Report October 28, 2014

    New York: India has performed poorly in removing gender-based disparities, ranking 114 out of 142 countries in World Economic Forum's 2014 gender gap index, scoring below average on parameters like economic participation, educational attainment and health and survival. India's slipped 13 spots from its 2013's ranking of 101 on the Gender...
  • Pakistan institute shows Manmohan Singh as president of Pakistan October 24, 2014

    Islamabad: In an embarrassing blunder, a leading Pakistani economic institute invited "President of Islamic Republic of Pakistan, Manmohan Singh" to preside over its annual convocation next week, a media report said on Friday. Pakistan Institute of Development Economics (PIDE), located in the capital, is holding its convocation on October 28 and...
  • Congress leader writtes to Modi, expresses wish to acquire Ambedkar's home in London October 22, 2014

    Maharashtra Congress leader Nitin Raut wrote to the Narendra Modi government expressing his wish to acquire a residential property in London where Dr Bhim Rao Ambedkar lived while studying at the London School of Economics in 1921-22. The 2,050 sq ft property on King Henry's Road, London, is expected to...
  • Arvind Subramanian is a creative thinker: US think tank October 16, 2014

    Washington: Arvind Subramanian, appointed as India's Chief Economic Adviser, is more than just a mainstream macro-economist and is a creative thinker, the head of a top American think tank on economic issues said on Thursday. "Arvind is much more than your mainstream macro-economist. He is an immensely knowledgeable and creative...
  • US-based economist Arvind Subramanian appointed next Chief Economic Advisor October 16, 2014

    New Delhi: The US-based economist Arvind Subramanian has been appointed as India's chief economic adviser. An official order has been issued by the Centre in this regard. Subramanian, a senior fellow at the Peterson Institute for International Economics, was informally recommended to the post by Finance Minister Arun Jaitley and later...
  • Modi government replaces Arvind Mayaram with Rajiv Mehrishi as Economic Affairs Secretary October 16, 2014

    New Delhi: The Narendra Modi government on Thursday replaced Arvind Mayaram as Economic Affairs Secretary with Rajiv Mehrishi. In orders issued on Wednesday, Mayaram, a 1978-batch IAS officer belonging to Rajasthan cadre, was made the Tourism Secretary in place of Parvez Dewan on his retirement at month end. In his place,...
  • Work on 'taming' firms wins Frenchman Jean Tirole economics Nobel October 13, 2014

    Stockholm: 2014 Nobel Laureate in Economic Sciences, Jean Tirole said that he hasn't recouped yet, after winning the acclaimed prize. Tirole is the director of Toulouse School of Economics and the third French laureate in Economic Sciences. Tirole was incredibly surprised when he got the news that he has been awarded the...
  • France's Jean Tirole wins the 2014 Nobel Prize in Economic Sciences October 13, 2014

    Stockholm: The 2014 Nobel Prize in Economic Sciences was awarded to French economist Jean Tirole "for his analysis of market power and regulation". The Royal Swedish Academy of Sciences decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2014 to Jean Tirole for breathing new...
  • PM Narendra Modi seeks state election wins to support reform agenda October 12, 2014

    Mumbai: Prime Minister Narendra Modi spearheaded his party's campaign for elections later this week in Maharashtra state, knowing that victory in the home of financial hub Mumbai will make it easier to push through economic reforms. The state of Haryana also votes on Wednesday. But it is Maharashtra that will provide...
  • India's air pollution policies more successful than water pollution ones: Study October 9, 2014

    New Delhi: India's air pollution policies are more successful than the water pollution ones because of the country's Supreme Court's effective intervention to address matters polluting the atmosphere, according to a new study. The study, published in the October issue of the American Economic Review, says that high levels of...