FISCAL

  • GST will transform India's fiscal architecture: Jayant Sinha 14 hours 50 minutes ago

    New Delhi: The GST roll out will prove to be a revolutionary step and has potential to transform the "fiscal architecture" of the government, Minister of State for Finance Jayant Sinha said on Thursday. "In some ways it is as revolutionary and as profound as what happened in 1991 because it...
  • China lowers 2015 GDP growth target to 7 per cent, lowest since 1990 22 hours 57 minutes ago

    Beijing: China has budgeted for a national fiscal deficit of 1.62 trillion yuan ($258 billion) in 2015, the Ministry of Finance said on Thursday in its work plan unveiled at the annual parliament meeting. The government aims for 2015's deficit to be equivalent to 2.3 per cent of gross domestic product...
  • Government targets to collect Rs 1 lakh crore in dividend next fiscal 4 days ago

    New Delhi: The government aims to collect over Rs 1 lakh crore in dividend from public sector companies and banks in 2015-16, a 13 per cent increase over previous year. The government will collect Rs 88,781 crore on account of dividends in the current fiscal, the Budget document shows. All profit-making central...
  • Budget 'credit neutral' from a ratings perspective: Moody's 4 days ago

    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...
  • In pics: Budget at a glance 4 days ago

    Finance Minister Arun Jaitley on Saturday announced a Budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. Billed as a test of PM Narendra Modi's willingness to reform a $2 trillion economy with a...
  • In pics: Budget in numbers 4 days ago

    Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. Billed as a test of the PM's willingness to reform a $2 trillion economy with a bloated...
  • Arun Jaitley's Budget aims growth first, gives big bang reforms a miss, fiscal deficit cut to wait 5 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide election victory in May 2014,...
  • Watch: How this budget has impacted you? 5 days ago

    Finance Minister Arun Jaitley on Saturday presented the first full-fledged Budget of the Narendra Modi government aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. ...
  • Finance Minister Arun Jaitley's Budget goes for growth, focuses on social security, delays fiscal cuts 5 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Jaitley, delivering his first full-year budget since Prime Minister Narendra Modi's landslide election victory...
  • Union Budget 2015 should focus on manufacturing: Experts 6 days ago

    "Union Budget 2015 should focus on manufacturing and should spend money on infrastructure. The Budget must stick to the Fiscal Deficit target," say experts. ...
  • Union Budget 2015: Fiscal reforms will determine ratings, says Moody's February 25, 2015

    Mumbai: Moody's Investors Service said on Wednesday that its assessment of India's credit ratings will be determined mainly by the extent of its fiscal reforms, not recent revisions to its economic growth data. The comments come a day after rival Standard & Poor's said India must boost growth, cut its fiscal...
  • Fiscal reforms to determine India's ratings, says Moody's February 25, 2015

    Moody's Investors Service said on Wednesday that its assessment of India's credit ratings will be determined mainly by the extent of its fiscal reforms, not recent revisions to its economic growth data. The comments come a day after rival Standard & Poor's said India must boost growth, cut its fiscal deficit...
  • Brokerages expect Budget to stay firm on fiscal consolidation February 24, 2015

    New Delhi: Expecting the upcoming Budget to stay firm on the fiscal consolidation roadmap, brokerage firms believe that higher allocation can be made for capital expenditure amid a sharp decline in oil subsidy bill. "We expect the government to continue on path of fiscal consolidation, budgeting for fiscal deficit of...
  • India must grow, fulfil reform promise for rating upgrade: S&P February 24, 2015

    Mumbai: India must boost growth, cut its fiscal deficit and fulfil promises of financial and fiscal reforms in order to justify an upgrade in a credit rating, currently lodged one rung above junk bond territory, rating agency Standard & Poor's said on Monday. S&P raised India's credit rating outlook to 'stable'...
  • Foreign direct investment doubles to $2.16 billion in December February 22, 2015

    New Delhi: Foreign direct investment (FDI) in India almost doubled to $2.16 billion in December 2014, compared to $1.10 billion in the same month of 2013. During the April-December period of the current fiscal, FDI rose by 27 per cent to $21.04 billion as against $16.56 billion in the same period...
  • Falling oil prices shrink trade deficit to 11-month low February 14, 2015

    New Delhi: Trade deficit narrowed to an 11-month low in January, helped by a plunge in global oil prices, bolstering the outlook for India's current account balance as well as the rupee. But in a worrying sign, weak global demand led to a second straight annual fall in merchandise exports. Exports...
  • Jaitley hints at more cuts in spending, says government shouldn't live on borrowed money February 6, 2015

    Mumbai: Having already crossed the fiscal deficit target in November, Finance Minister Arun Jaitley on Friday hinted at more cuts in spending so as to contain it within limits for the current fiscal, saying he does not believe in living on borrowed money. "We're trying to rationalise expenditure as far...
  • India expected to keep interest rates steady until after budget February 3, 2015

    Mumbai: Having cut its policy interest rate just three weeks ago, the Reserve Bank of India (RBI) is expected to hold rates steady at a policy review on Tuesday, leaving its next move until after the government presents its annual budget at the end of this month. The timing of the...
  • GDP base year revision may help government contain fiscal deficit January 29, 2015

    New Delhi: A new series of national accounts with 2011-12 as base year for computing economic growth rate will be released on Friday, which may provide some cushion to government struggling to meet fiscal deficit target. With the revision of base year, the size of economy is expected to bigger...
  • India asks refiners to cut Iran oil imports ahead of Obama's visit: Sources January 23, 2015

    New Delhi: India has asked its refiners to slash oil buys from Iran in the next two months to keep the imports in line with the previous fiscal year's levels, sources with knowledge of the matter said, days ahead of President Barack Obama's visit to New Delhi. India, the second-largest buyer...
  • Union Cabinet will consider sale of stake in Indian Oil, say sources January 21, 2015

    New Delhi: The Cabinet Committee on Economic Affairs will discuss on Wednesday the possible sale of a 10 percent stake in Indian Oil Corporation, two sources with knowledge of the matter said, as the government finds ways to meet its fiscal deficit target. The sale of a stake in India's largest...
  • India will become a country of opportunities, says PM Modi January 16, 2015

    New Delhi: India will become a country of opportunities and the government is committed to achieving the fiscal deficit target, said Prime Minister Narendra Modi on Friday. Speaking at the ET Global Business Summit in New Delhi, Modi said the New Age India has also begun its transition from a winter...
  • Government hikes excise duty on petrol, diesel by Rs 2 per litre January 16, 2015

    New Delhi: India raised factory gate duties on petrol and diesel by 2 rupees a litre each on Friday, two private news channels reported, the fourth since the government lifted diesel price controls in October. The government has raised the duties to cash in on lower world oil prices to bolster...
  • RBI surprises by cutting repo rate by 25 basis points, hints lowering rates further January 15, 2015

    New Delhi: The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on Thursday, making its first reduction in a year as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit. The...
  • India likely to grow between 5-6 per cent in 2015: Moody's December 10, 2014

    New Delhi: Indian economy is expected to pick up pace in 2015 and grow in the range of 5 to 6 per cent, helped by strong domestic demand, rating agency Moody's said on Wednesday. "India will have stronger GDP growth in 2015, which we forecast at 5-6 per cent, up from...
  • RIL consolidated net sales for 2014 2nd quarter of Rs 1.13 lakh-crore October 13, 2014

    Mumbai: Reliance Industries on Monday reported a marginal 1.7 per cent rise in its second quarter net profit to Rs 5,972 crore. It had posted Rs 5,873 crore profit in the April- September quarter of last fiscal, 2013-14. RIL's turnover fell 4.3 per cent to Rs 1,13,396 crore as international oil prices...
  • Indian Railways total income up 12.02 per cent October 8, 2014

    New Delhi: Indian Railways on Wednesday reported an increase of 12.02 per cent in its total income during the first six months of the current fiscal which stood at Rs 73,403.67 crore from Rs 65,525.85 crore in the same period last year. According to the railways, the total goods earnings have...
  • Disinvestment proceeds spent only to meet fiscal deficit: CPM September 30, 2014

    New Delhi: Countering government's justification for divesting stakes of PSUs, CPI(M) has said that the disinvestment proceeds were only being spent to meet fiscal deficit instead of being used for capital expenditure and social sector schemes. "Fact remains that the government is losing dividend income more and more as it...
  • Punjab to seek review of tax incentives to neighbouring states September 12, 2014

    Talwandi Sabo (Punjab): The Punjab government will impress upon the Centre to review fiscal sops granted to neighbouring states, including Himachal Pradesh, saying tax holidays to these states had proved "detrimental" to growth of industry in Punjab. Stating this here on Friday, Chief Minister Parkash Singh Badal said Punjab would also...
  • India to revise GDP measurement next year, economy may be larger September 9, 2014

    New Delhi: India will soon revise the way it measures gross domestic product to reflect underrepresented and informal economic sectors, two government sources said, in an initiative that is expected to show the economy is larger than previously thought. India usually revises the method of calculating national accounts and other macro...