India's petroleum consumption will grow at six per cent in 2017-18, double the rate at which fuel demand in China is projected to grow, Moody's Investors Service said on Monday.
The all-powerful Monetary Policy Committee's first rate decision on October 4 hinges on vigilance clearance for the government-nominated three independent economists coming in time.
With the Cabinet approving the merger of Railway Budget with General Budget, the parliamentary panel on finance has decided to examine the move along with its "ramifications thereof".
A good monsoon, reforms and timely decision-making at the Centre will definitely push India's growth beyond the eight per cent mark in subsequent quarters of this fiscal year, Niti Aayog Vice-Chairman Arvind Panagariya has said.
The Finance Minister, who is also Chairman of the Council, said the jurisdiction over assessees with a turnover of Rs 1.5 crore and below will solely be with the states and for those above, it will be jointly with the central and state governments.
With the Centre deciding to advance presentation of Budget 2017-18 by about a month, the Finance Ministry has come out with comprehensive instructions for different ministries for completion of the exercise.
Thegovernment is to make a renewed drive to overhaul labour laws, hoping to create millions of new jobs by making it easier to hire and fire, the labour ministry's top bureaucrat said on Thursday.
The government on Thursday picked three economists from the academic world for a new monetary policy committee to set interest rates, as the Reserve Bank of India (RBI) gets ready for a landmark switch in the way it decides policy.
The National Investment and Infrastructure Fund (NIIF) will start funding activities in the next few days as it has got commitments from several sovereign wealth funds, Finance Minister Arun Jaitley on Thursday said.
The government has picked three economists from the academic world for a new monetary policy committee to set interest rates, as the Reserve Bank of India gets ready for a landmark switch in the way it decides policy.
India's sovereign rating by Moody's stands at 'Baa3', the lowest investment grade -- just a notch above 'junk' status.
The government today appointed three members of the monetary policy committee which will set interest rates on behalf of the Reserve Bank of India.
India Inc on Wednesday welcomed the government's decision to merge Rail Budget with General Budget and agree in-principle to advance the date of its presentation in Parliament.
The all-powerful Goods and Services Tax or GST Council, which will decide on tax rates, exempted goods and threshold, will meet for the first time on Thursday as it races against time to iron out issues between the Centre and states for rolling out the new indirect tax regime from April 1, 2017.
The Federal Reserve left interest rates unchanged on Wednesday but strongly signaled it could still tighten monetary policy by the end of this year as the labour market improved further.
The Federal Reserve on Wednesday awarded $176.84 billion of one-day, fixed-rate reverse repurchase agreements to 51 bidders at an interest rate of 0.25 per cent, the New York Fed said on its website.
British investment and employment are likely to be flat over the coming year because of the June vote to leave the European Union, according to a Bank of England survey of businesses that leaves it on track to cut interest rates again this year.
There will be no separate Rail Budget as the government on Wednesday decided to end the 92-year-old practice by merging it with the General Budget.
Citing reforms and steps taken towards ease of doing business, the Finance Ministry on Wednesday pitched for a rating upgrade with Moody's, while the US-based agency expressed concern over the state of bad loans in the banking sector.
India unexpectedly posted a slight current account deficit in the April-June quarter, contrasting with expectations it would post the first surplus in nine years, as citizens abroad sent fewer remittances home.