October 31, 2014 00:10 (IST)
The Finance Ministry issued a circular today instructing government departments to cut discretionary spending by 10 per cent. As part of these measures, it banned first class travel by government officials, meetings in five-star hotels, purchase of cars and froze new appointments.
October 30, 2014 19:17 (IST)
Under the National Health Assurance Mission, Prime Minister Narendra Modi's government would provide all citizens with free drugs and diagnostic treatment, as well as insurance cover to treat serious ailments.
October 30, 2014 18:24 (IST)
ndia's economy is expected to do better in the second half of the fiscal year to March 2015, Finance Minister Arun Jaitley said on Thursday.
October 30, 2014 16:57 (IST)
The ministry has also barred meetings at five-star hotels, the purchase of cars for government officials and the creation of new posts in central departments.
Reported By: Heena Gambhir | October 30, 2014 16:47 (IST)
The government is also planning to seek an additional Rs 11,000 crore for public sector banks, apart from the budgeted Rs 11,200 crore, sources said.
October 30, 2014 16:00 (IST)
Moody's Investors Service said steps such as Prime Minister Narendra Modi's "Make in India" campaign, infrastructure initiatives, improvements on monetary policy framework, and banking sector reforms were all "incremental, rather than radical" measures.
October 30, 2014 15:10 (IST)
The austerity measures will include a 10 per cent cut in non-plan, or discretionary, expenditure. Interest and debt payments, the defence budget, salaries and pensions will not be affected, the statement said.
Reported By: Shweta Rajpal Kohli | October 30, 2014 15:00 (IST)
The report stated lower fiscal deficits, inflation rates and a strengthened banking sector will allow higher growth levels to be sustained at around 7.5 per cent over the next 5-10 years.
Reported By: Shweta Rajpal Kohli | October 30, 2014 14:27 (IST)
These measures include banning officials from first class air travel and a ban on creation of new posts in government.
Written By: Varun Sinha | October 30, 2014 11:21 (IST)
The estimates of how much black money is stashed abroad have varied widely. Some studies estimate black money at just $2 billion (nearly Rs 12,000 crore), while others peg the amount at staggering $2 trillion (Rs 120 lakh crore), which is roughly the size of our economy.
October 29, 2014 23:49 (IST)
The Federal Reserve on Wednesday ended its monthly bond purchase program and signaled confidence the US economic recovery would remain on track despite signs of a slowdown in many parts of the global economy.
October 29, 2014 23:46 (IST)
With Mozambique poised to become a top gas exporter, the Union Cabinet on Wednesday approved signing of an agreement with the African nation to deepen oil and gas cooperation.
October 29, 2014 22:22 (IST)
Job generation in the Indian industry dropped by a sharp 19.9 per cent during July-September as compared to the previous quarter due to persisting weaknesses in the economy, the Associated Chambers of Commerce and Industry (Assocham) said on Wednesday.
October 29, 2014 21:46 (IST)
The government on Wednesday relaxed rules for foreign direct investment (FDI) in construction development, aiming to make it easier for overseas capital to invest in building in Asia's third-largest economy.
October 29, 2014 21:03 (IST)
The government has raised the price it will pay to buy new-season wheat from local farmers to Rs 1,450 per 100 kg, up 3.57 per cent, increasing the incentive to plant the crop even though supply has exceeded demand for eight years.
October 29, 2014 20:33 (IST)
Continuing with its reforms agenda, the Narendra Modi government on Wednesday eased foreign direct investment (FDI) norms in construction, to encourage foreign investment in the real estate sector.
October 29, 2014 19:27 (IST)
India has the capacity to grow at 8-9 per cent and good governance would make economic expansion "more exuberant", Finance Minister Arun Jaitley said on Wednesday.
October 29, 2014 17:44 (IST)
India is home to the second largest proportion of high-earning expatriates in the world after China and ahead of countries like Switzerland, Russia and Hong Kong, says a HSBC survey.
October 29, 2014 17:14 (IST)
Subsidised LPG in Delhi now costs Rs 417 per 14.2-kg cylinder as against Rs 414 previously.
Written By: Varun Sinha | October 29, 2014 17:03 (IST)
India has notched up its worst-ever ranking in the "Ease of Doing Business" index compiled by the World Bank, slipping to 142 out of 189 countries. Just last month Prime Minister Narendra Modi had said he wants India to be among the top 50 countries on the list.