Fiscal

  • ICICI Bank Q1 net profit up 17 pct, beats estimates July 31, 2014

    New Delhi: ICICI Bank Ltd(ICBK.NS), India's second-biggest lender by assets, reported a 17 percent rise in quarterly profit, beating estimates, helped by loan growth and higher fee income. Net profit for its fiscal first quarter ended June rose to 26.55 billion rupees ($440 million) from 22.74 billion rupees a year earlier,...
  • Average CEO salary at top Sensex firms near Rs 10 crore July 27, 2014

    New Delhi: The average CEO pay at India's top listed companies has risen to Rs 10 crore a year, but still remains less than one-tenth of over Rs 100 crore median remuneration paid to their peers in the US. The top executives of the country's biggest blue chip companies, forming...
  • S&P says budget has no impact on India's sovereign ratings July 14, 2014

    Mumbai: Standard & Poor's said that the budget would not have an impact on India's sovereign ratings until the agency could see how the measures will be implemented, especially regarding meeting the fiscal deficit target. Finance Minister Arun Jaitley said last week that India would stick to the fiscal deficit target...
  • Finance secretary Mayaram defends 4.1 per cent fiscal deficit target July 13, 2014

    New Delhi: Finance Secretary Arvind Mayaram said that plans announced in this week's budget to stick to a fiscal deficit target of 4.1 per cent of GDP are "very credible", despite criticism from ratings agencies that the number is optimistic. Prime Minister Narendra Modi, who took office in May, on Thursday...
  • Budget 2014: Directions set up and reiteration on the fiscal consolidation,says C Rangarajan July 10, 2014

    Former chairman of the Economic Advisory Council to the Prime Minister, C Rangarajan said that the directions set in the budget are appropriate and welcome. "I think the reiteration on the fiscal consolidation is particularly welcome but whether we will be able to get 4.1 per cent is not very...
  • Arun Jaitley retains fiscal deficit target at 4.1 pc, outlines road map July 10, 2014

    New Delhi: Outlining the road map for fiscal consolidation, Finance Minister Arun Jaitley on Thursday said the government will retain the fiscal deficit target for 2014-15 at 4.1 per cent of GDP and reduce it further to 3 per cent by 2016-17. Presenting his maiden Budget, the Minister said the prevailing...
  • Highlights of Union Budget 2014-15 July 10, 2014

    New Delhi: Finance Minister Mr Arun Jaitley in the Budget 2014-15 salaried class tax breaks and increased the range of savings. Special focus on women and children's facilities, the construction of world-class cities, and welfare of senior citizens. Here are the highlights of the budget presented by Finance Minister...
  • Fiscal deficit for 2014-15 projected at 4.5 per cent of GDP: Arun Jaitley July 9, 2014

    New Delhi: Finance Minister Arun Jaitley on Wednesday presented the Economic Survey 2014-15 in the Lok Sabha and pointed towards the worsening Fiscal situation. He said that the fiscal deficit for 2014-15 year is projected at 4.5 per cent of Gross Domestic Product (GDP). He assured that the government will...
  • Economic Survey urges strong steps to contain fiscal deficit July 9, 2014

    New Delhi: Fiscal situation is worse than it appears, Prime Minister Narendra Modi's government said in an economic report on Wednesday that called for tough measures to shore up public finances and reduce inflation. The report's tone will increase speculation that Finance Minister Arun Jaitley, in presenting his first Budget to...
  • Want bank with right size, right value for takeover: Chanda Kochhar July 7, 2014

    Mumbai: ICICI Bank will look at acquiring a bank if it finds one with the right size and right valuation, but is yet to find a takeover target that fits in its evaluation model, the bank chief Chanda Kochhar said. ICICI Bank, which added 650 branches to its network in the...
  • Budget Addas: Expectations from Team Modi July 6, 2014

    As the countdown has begun to the Narendra Modi government's first union budget, all eyes are on the government's roadmap for economic revives. CNBC TV18's Shereen Bhan discusses with the panel of experts the fiscal consolidation, one of the key challenges for government's facing and asks them whether Finance Minister...
  • Videocon d2h likely to bring IPO this fiscal July 4, 2014

    Mumbai: Direct to home service provider Videocon d2h is likely to go ahead with its proposed public float (IPO) plan this financial year, according to a top company official. The company had received the permission from market regulator Sebi in March 2013 for its proposed Rs 700-crore IPO but did...
  • April-May fiscal deficit is Rs 2.4 lakh crore June 30, 2014

    New Delhi: The fiscal deficit in the first two months of 2013-14 was Rs 2.4 lakh crore or 45.6 per cent of Budget Estimates for the whole financial year. The fiscal deficit -- the gap between expenditure and revenue -- for the whole fiscal has been pegged at Rs 5.28...
  • Finance Minister Arun Jaitley calls for fiscal discipline to bring economy back on track June 1, 2014

    New Delhi: Union Finance Minister Arun Jaitley on Sunday called for fiscal discipline to bring economy back on track. In his first blog after assuming office as the Finance Minister, Jaitley wrote in his blog titled 'From Celebration to Challenge', "We must move towards an era of fiscal discipline where...
  • FY'14 current account gap narrows to 1.7 pc of GDP May 26, 2014

    Mumbai: Helped by a sharp moderation in imports, especially of gold, India's current account deficit (CAD) sharply narrowed to 1.7 per cent of GDP, or $32.4 billion, in FY'14 from 4.7 per cent in FY'13, Reserve Bank said on Monday. "Contraction in the trade deficit, coupled with a rise in net...
  • BJP debates junking deficit cut roadmap May 15, 2014

    The Bharatiya Janata Party (BJP) set to form the next government, is debating scrapping or revising a plan to cut the fiscal deficit to a nine-year low over the next three years, sources with direct knowledge of the situation told Reuters. While the BJP is not bound by the roadmap of...
  • Ground realities: Nine election issues no one is talking about April 29, 2014

    Like one of those professional wrestling cage matches, Elections 2014 has become a slugfest with more chaos, heat and dust than light. Also, just like a cage match, it is by now difficult to determine whether the vitriol and melodrama is real, feigned or well scripted. Score at half-time: Gandhi...
  • India's ratings to depend on next governement economy, fiscal policies: S~~amp;amp;P April 17, 2014

    Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax. "If in the future they implement policies that effectively addresses some of the credit weaknesses that I...
  • April-January fiscal deficit at $ 86 billion, crosses full year target February 28, 2014

    India's fiscal deficit in the first ten months of the 2013-14 financial year crossed the target for the whole year, putting pressure on the finance minister of Asia's third-largest economy to cut spending ahead of an election. The fiscal deficit touched 5.33 trillion rupees during April-January, or 101.6 per cent of...
  • Ashamed at the way business transacted in Parliament: Chidambaram March 1, 2014

    Karan Thapar: Hello and welcome to Devil's Advocate. How credible is the governments claim that it has reduced the fiscal deficit to 4.6 per cent of GDP. That is one of the key issues I should explore today with the finance minister P Chidambaram. Karan Thapar: Twenty four hours after you...
  • Rajasthan industry welcomes state's interim budget February 20, 2014

    Trade and industry bodies om Thursday  welcomed the interim budget of Rajasthan, saying that the government has focused on fiscal consolidation. "The focus of the chief minister to keep fiscal eficit below 3 per cent, checking the fiscal deficit at 2.86 per cent for the current fiscal year is really commendable," Ratnesh P Kashyap, Chairman...
  • Fiscal deficit will be contained at 4.6 pc of GDP: Chidambaram February 17, 2014

    New Delhi: The government on Monday said the fiscal deficit for the current financial year will be contained at 4.6 per cent of GDP. "Let me begin with the good news. Fiscal deficit for 2013-14 will be contained at 4.6 per cent of GDP, well below the red line that...
  • Budget 2014: As it happened February 17, 2014

    New Delhi: 12:07 pm: Towards the end of his speech, Chidambaram says, "140 million moved out of poverty during UPA-I and UPA-II regime and we are legitimately proud of it." 12:05 pm: Excise duty on mobile handset will be 6 pc on CENVAT credit to encourage domestic production. 12:02 pm: Excise...
  • UPA-II to present its last Budget today, fears Telangana disruption February 17, 2014

    New Delhi: Finance Minister P Chidambaram will present the last interim budget of the UPA-II on Monday in Parliament. Chidambaram will present the vote on account on Monday, giving an estimate of funds required to meet expenditure until a new government is in place. Chidambaram will give a report card on...
  • Fiscal deficit in Vote on Account may impress market: Choksey February 14, 2014

    According to Deven Choksey, government would probably discuss fiscal deficit which is much healthier, but there is unlikely to be any change in market movement due to Vote on Account on Monday. According to Deven Choksey, government would probably discuss fiscal deficit which is much healthier, but there is unlikely to...
  • Chhattisgarh tops in fiscal management in RBI report January 24, 2014

    Chhattisgarh has emerged at the top of a list of states in many fiscal parameters, the Reserve Bank of India (RBI) said Thursday. The RBI report titled "State Finances - A study of Budgets of 2013-14" said Chhattisgarh's development expenditure as percent of Gross State Domestic Product (GSDP) was the highest...
  • Airtel may sell mobile towers in Nigeria for about $550 million January 22, 2014

    New Delhi: Telecom major Bharti Airtel is expected to sell-off mobile towers in Nigeria, biggest revenue generating market for the company in Africa, for $500-550 million by April, industry sources said. The company has less than 4,000 mobile towers in the African country. When contacted Airtel spokesperson said: "As a company...
  • Changing India: Policies that will improve our cities January 18, 2014

    In the run up to the 2014 Lok Sabha polls, Network18's latest campaign is on 'Change India - Agenda for the next PM'. In the first show of the series, 10 policy initiatives 10 policy initiatives that will enable the next prime minister to transform India's crumbling cities. ...
  • Change India: An agenda for India's next Prime Minister January 12, 2014

    The Think India Foundation is an initiative of Network 18 which is engaged in the task of public policy advocacy with an objective to adhere to, and propagate, the principles of fiscal conservatism, regulated free markets and social liberalism, which are the hallmarks of most successful economies and advanced societies....
  • FICCI unveils economic agenda for long-term growth January 6, 2014

    Industry chamber FICCI on Monday stressed the need to strengthen key enablers of enterprises and job creation for sustained high growth. “We wish to see India get back to a high growth track. Adding 10-12 million jobs annually requires a growth of 8-9 per cent over a long period,” newly-elected FICCI...