Fiscal

  • India's ratings to depend on next governement economy, fiscal policies: S~~amp;amp;P 17-04-2014 02:29 PM

    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...
  • April-January fiscal deficit at $ 86 billion, crosses full year target 28-02-2014 04:46 PM

    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...
  • Ashamed at the way business transacted in Parliament: Chidambaram 21-02-2014 03:41 PM

    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...
  • Rajasthan industry welcomes state's interim budget 20-02-2014 09:18 PM

    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,...
  • Fiscal deficit will be contained at 4.6 pc of GDP: Chidambaram 17-02-2014 11:50 AM

    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 17-02-2014 10:19 AM

    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:...
  • UPA-II to present its last Budget today, fears Telangana disruption 17-02-2014 07:50 AM

    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...
  • Fiscal deficit in Vote on Account may impress market: Choksey 14-02-2014 05:39 PM

    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...
  • Chhattisgarh tops in fiscal management in RBI report 24-01-2014 12:20 AM

    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...
  • Airtel may sell mobile towers in Nigeria for about $550 million 22-01-2014 08:52 PM

    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...
  • Changing India: Policies that will improve our cities 18-01-2014 11:55 PM

    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 12-01-2014 12:53 PM

    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 06-01-2014 05:31 PM

    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...
  • Rajasthan's fiscal deficit worsened in Congress regime: Vasundhara Raje 24-12-2013 12:23 AM

    Newly-elected Rajasthan Chief Minister Vasundhara Raje on Monday asserted that improving the state's economy will be her top priority, saying fiscal situation had worsened in the previous Congress regime with the deficit touching 2.48 per cent of GDP in 2013-14. "Fiscal deficit was 6.6 per cent of gross domestic product...
  • Rs 15,000 crore spent on development this fiscal, says Mamata Banerjee 20-12-2013 06:30 PM

    The West Bengal government has spent Rs.15,000 crore on development so far this fiscal, Chief Minister Mamata Banerjee said at Kolkata on Friday. Interacting with reporters after holding a review meeting of the work done by her ministers, Banerjee said West Bengal was the only state in India where such...
  • Defeat of Congress may lead to higher fiscal deficit: Fitch 10-12-2013 02:45 PM

    Global rating agency Fitch on Tuesday expressed fear that the defeat of Congress in four of the five state Assembly elections could lead to higher fiscal deficit target as the government would be constrained to curb expenditure. "The setback faced by the Congress Party in state elections could potentially raise...
  • 6 per cent GDP growth next fiscal, better 2nd half in 2013-14 says Montek Singh Ahluwalia 27-11-2013 02:51 PM

    Exuding confidence that economy will be back on high growth trajectory, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday said that GDP will expand by over 6 per cent next fiscal and performance will be better in second half of this fiscal. "I could easily say that it (economic...
  • GDP growth likely edged up to 4.6 per cent last quarter 26-11-2013 11:50 AM

    India's economic growth likely picked up slightly in the July-September quarter as improved manufacturing activity steered it from a four-year low in the previous three months, a Reuters poll showed on Tuesday. Any improvement would be welcome news for the government as a string of opinion polls forecast a poor...
  • GDP growth seen between 5-5.5 pc in 2013/14, says Chidambaram 15-11-2013 09:18 PM

    India is likely to achieve an economic growth of between 5-5.5 per cent in this fiscal year, the finance minister said on Friday, despite wide expectations of growth slipping below 5 per cent by private economists. India's growth slowed to 5 percent in the 2012/13 fiscal year that ended in...
  • S&P says next government's agenda to determine rating 08-11-2013 09:52 AM

    Standard & Poor's said on Thursday it will review India's rating once a new government due to be elected next year lays out its policy agenda, reducing the prospect of a destabilising downgrade to below investment grade ahead of the polls. That could delay the next review until after May...
  • RBI expects inflation to stay near current levels 28-10-2013 05:38 PM

    The Reserve Bank of India said it expects inflation to remain near current elevated levels for the remainder of the fiscal year that ends in March, a day before it is forecast to raise its policy interest rate for the second consecutive review. The central bank is widely expected to...
  • US fiscal negotiations sputter as deadline nears 13-10-2013 06:32 PM

    Congressional negotiations to end a US fiscal crisis gripping Washington and spooking financial markets hung by a thread on Saturday after bipartisan talks broke down in the House of Representatives and shifted to Senate leaders. Senate Majority Leader Harry Reid, a Democrat, held an initial session with Senate Republican leader...
  • Obama and Republicans search for a deal on US fiscal impasse 13-10-2013 04:18 AM

    Washington: President Barack Obama and congressional Republican leaders inched toward resolving their fiscal impasse on Friday, but struggled to agree on the length and terms of a short-term deal to increase the US debt limit and reopen the government. Obama met Senate Republicans at the White House and spoke by...
  • Obama, Congress look for way out of US fiscal stalemate 10-10-2013 12:02 PM

    Washington: With pressure rising and no clear path forward for breaking their fiscal impasse, US President Barack Obama launched a series of White House meetings with lawmakers on Wednesday to search for a way to end a government shutdown and raise the debt limit. House Democrats journeyed to the White...
  • Diesel price hike the only option to reduce oil pool deficit: ONGC 03-09-2013 12:14 PM

    New Delhi: The Oil and Natural Gas Corporation (ONGC) said that a hike in diesel price is the only option to reduce the oil pool deficit as the cost of production has increased significantly. ONGC also expressed its fear that the risk of subsidy burden in Fiscal Year 2014 is...
  • Rupee fall, oil price hike will result in Rs 1,80,000 crore loss: Moily 31-08-2013 03:25 PM

    New Delhi: Battling double whammy of dipping rupee and surging global oil rates, Oil Minister M Veerappa Moily has written to Prime Minister Manmohan Singh saying without corrective steps losses on sale of subsidised fuel sales will rise to unprecedented Rs 1,80,000 crore. In a detailed note, Moily told the...
  • Decisions taken by government in 2008 led to rupee fall, admits Chidambaram 27-08-2013 02:06 PM

    New Delhi: As rupee reached a new record low of 66.07 vs US dollar on Tuesday, Finance Minister P Chidambaram admitted that the decisions taken by the government to counter the 2008 economic meltdown are among the reasons why the rupee depreciated. Chidambaram said the stimulus programme announced by the...
  • Cut expenditure to check further slide in the rupee, says Montek 25-08-2013 09:04 PM

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has suggested a cut in wasteful government expenditure as a strong and necessary measure to control the fiscal deficit but defended financial burden of the Food Security Bill. He was speaking to Karan Thapar on Devil's Advocate. Here is the transcript...
  • Cut wasteful govt expenditures, but spare food subsidies: Montek 25-08-2013 05:42 PM

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has suggested a cut in wasteful government expenditure as a strong and necessary measure to control the fiscal deficit but defended financial burden of the Food Security Bill. He was speaking to Karan Thapar on Devil's Advocate. Here is an excerpt...
  • Use foreign exchange reserves to curb the slide of the rupee: Montek 25-08-2013 01:46 PM

    New Delhi: Deputy Chairman of the Planning Commission Montek Singh Ahluwalia in an interview with Karan Thapar on CNN-IBN, suggested the use of foreign exchange reserves as a measure to finance the current account deficit. He said this was one step the government must take to if wants to check...