FISCAL

  • RIL consolidated net sales for 2014 2nd quarter of Rs 1.13 lakh-crore 1 week ago

    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...
  • India's rating seen limited by fiscal deficit, inflation: Moody's September 3, 2014

    Mumbai: India's fiscal deficit and inflation outlook could prevent any upgrades in the country's sovereign rating, even as the economy is headed for recovery, Moody's Investors Service said on Wednesday. Although Moody's expects the government to meet the fiscal deficit target of 4.1 percent for the fiscal year ending in...
  • ICICI Bank Q1 net profit up 17 pct, beats estimates July 31, 2014

    New Delhi: ICICI Bank Ltd(ICBK.NS), India's secondbiggest 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 onetenth 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 201415 at 4.1 per cent of GDP and reduce it further to 3 per cent by 201617. Presenting his maiden Budget, the Minister said the prevailing...
  • Highlights of Union Budget 201415 July 10, 2014

    New Delhi: Finance Minister Mr Arun Jaitley in the Budget 201415 salaried class tax breaks and increased the range of savings. Special focus on women and children's facilities, the construction of worldclass cities, and welfare of senior citizens. Here are the highlights of the budget presented by Finance Minister...
  • Fiscal deficit for 201415 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 201415 in the Lok Sabha and pointed towards the worsening Fiscal situation. He said that the fiscal deficit for 201415 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 700crore IPO but did...
  • AprilMay fiscal deficit is Rs 2.4 lakh crore June 30, 2014

    New Delhi: The fiscal deficit in the first two months of 201314 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 nineyear 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 halftime: 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 February 21, 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 thegovernment has focused on fiscal consolidation. "The focus of the chief minister to keep fiscal eficitbelow 3 per cent, checking the fiscal deficit at 2.86 per centfor the current fiscal year is really commendable," Ratnesh PKashyap, 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 201314 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 UPAI and UPAII 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...
  • UPAII 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 UPAII 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...