Mumbai: The rupee rose on Monday to its highest against the dollar in a week, despite a steep sell-off in global risk assets, on the back of dollar sales by corporates and exporters, as well as unwinding of long-dollar positions by banks. The recovery comes after the rupee had hit a string of record lows against the dollar in the second half of May, with the latest on Thursday when...
03:05 PM, Jun 04, 2012
Mumbai: The Reserve Bank of India (RBI) has some room to reduce policy rates following a moderate core inflation and soft global oil prices, a deputy governor said on Monday. Subir Gokarn was speaking to television channel CNBC-TV18 on the sidelines of a investor conference in Mumbai. The 10-year benchmark bond yield fell to its lowest level in two-and-half months at 8.31 per cent in early trade on expectations of...
02:19 PM, Jun 04, 2012
New Delhi: It had been another brutal day for the rupee on the foreign exchanges as India's economic crisis escalated and, travelling home from a visit to Myanmar last week, Prime Minister Manmohan Singh summoned journalists on his plane for a briefing. The one statement he had prepared for the media that night, however, concerned allegations of corruption levelled against him and his cabinet ministers - not the economy. Quizzed...
09:02 AM, Jun 04, 2012
With growth sharply falling and exacerbating India's economic woes, was Bharat Bandh called by the BJP and the Left a thoughtless mistake? ...
09:35 PM, May 31, 2012
New York: Falling rupee and high inflation would make it difficult for India to achieve 7.5 per cent economic growth during the current financial year, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said. "The Finance Ministry has said they are hoping for a 7.5 per cent growth this year. That is going to be tough but not impossible," Ahluwalia said. He said while the last quarter did not show...
12:10 PM, May 20, 2012
Washington: Finance Minister Pranab Mukherjee on Sunday sought to allay concerns over a slowdown in India's economic growth rate, exuding confidence that the Indian economy would ride on its strong fundamentals and resilence to take a higher growth trajectory. Mukherjee pointed out that even though the latest figures reflect that India's growth rate has come down, the country still remains the second fastest growing economy in the G-20, next only...
01:19 AM, Apr 23, 2012
New Delhi: Home Minister P Chidambaram on Tuesday said that India would have ended up as the poorest nation in the world if its economy had grown at 3.5 per cent a year. "If we had continued to grow at a 3.5 per cent a year, we would have become the poorest nation in South Asia and perhaps poorest in the world. It is important that we must grow," Chidambaram...
02:47 AM, Mar 28, 2012
The Prime Minister's Economic Advisory Council scales up growth projections to 7.1 per cent this fiscal. ...
03:56 PM, Feb 22, 2012
Mumbai: Indicating that it may not tweak interest rates in Tuesday's policy review, the Reserve Bank of India (RBI) on Monday said it will try to strike a balance between the need for promoting growth and containing inflationary expectations. The RBI said that GDP growth during the current fiscal is likely to fall below its earlier projection of 7.6 per cent, while inflation, which is still a cause for concern,...
07:09 PM, Jan 23, 2012
New Delhi: The Planning Commission on Tuesday said the country's economic growth in the current fiscal will slip to 7 per cent from 8.5 per cent a year ago and may not touch 9 per cent in the next financial year. "Whether we can go back to 9 per cent very next year is not likely, but I think we should be targeting in India, to do a lot better...
12:10 AM, Jan 11, 2012
New Delhi: India's economy is expected to grow 7.3 per cent in the fiscal year ending March 2012, Finance Minister Pranab Mukherjee told reporters on Wednesday, adding, the reading for the September quarter fell below the government's expectations. Pranab Mukherjee said global financial problems had adversely affected domestic growth. "Taking into account the trend of the last two quarters, I expect the GDP growth to be 7.3 per cent (in...
01:32 PM, Nov 30, 2011
A large number of people say the government has failed to protect India from the global economic crisis. ...
11:53 PM, Nov 29, 2011
CNBC banking editor Latha Venkatesh feels that the industrial growth figure of 1.9 is an exaggeration. ...
11:28 PM, Nov 11, 2011
New Delhi: Amid fears of slowdown, the Planning Commission on Wednesday said India may not achieve over 8 per cent economic growth in the current fiscal on account of likely fallout of global uncertainties on domestic economy. "I don't think so...We never felt that this year was going to be a big growth year," Planning Commission Deputy Chairman Montek Singh Ahluwalia said when asked if India could achieve over 8...
05:26 PM, Aug 31, 2011
New Delhi: The Reserve Bank of India (RBI) has stuck to its economic growth forecast of 8 per cent for the current fiscal despite the recent sharp variations in monthly industrial output figures. "We think growth will be eight per cent in 2011-12. We have made this projection in the policy statement and there is no change in it," RBI Deputy Governor Subir Gokarn told reporters on the sidelines of...
06:04 PM, Aug 12, 2011
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