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  • Growth to be in 5.5-5.9 Per Cent Range: Finance Minister

    Growth to be in 5.5-5.9 Per Cent Range: Finance Minister

    Declining prices of crude oil and food will help lower inflation, Finance Minister Arun Jaitley said on Friday, expressing confidence that economic growth in the current fiscal year will be in the range of 5.5-5.9 per cent.

  • Diesel Prices Likely to be Cut Further

    Diesel Prices Likely to be Cut Further

    The government no longer has a role in determining fuel prices, and oil companies have the freedom to revise prices according to international rates

  • Petrol Price Cut by Rs 2.41 Per Litre, Diesel by Rs 2.25

    Petrol Price Cut by Rs 2.41 Per Litre, Diesel by Rs 2.25

    Diesel prices were deregulated earlier this month. On October 18 - the day the announcement was made - diesel prices were cut by Rs 3.37 per litre. It was the first reduction in diesel prices in over five years.

  • September Infrastructure Output Growth Slows to 1.9%

    September Infrastructure Output Growth Slows to 1.9%

    Output expanded 5.8 percent year-on-year in August. The sector, which comprises coal, crude oil, oil refining, natural gas, steel, cement, electricity and fertilisers, accounts for 37.9 percent of India's industrial output.

  • Fiscal Deficit in H1 Nears 83% of Full-Year Target

    Fiscal Deficit in H1 Nears 83% of Full-Year Target

    India's fiscal deficit was Rs 4.39 lakh crore during April-September, or 82.6 per cent of the full-year target, government data showed on Friday.

  • Higher Tax Refunds Putting Pressure on Fiscal Deficit: Finance Minister

    Higher Tax Refunds Putting Pressure on Fiscal Deficit: Finance Minister

    Finance Minister Arun Jaitley said on Friday that increased tax refunds in the current financial year (2014-15) are leading to a higher fiscal deficit, which neared 83 per cent of full year target in the April-September 2014.

  • BOJ Shocks Markets With Surprise Easing as Inflation Slows

    BOJ Shocks Markets With Surprise Easing as Inflation Slows

    Data earlier on Friday showed Japan's inflation slowed for a second straight month in September and is just half the BOJ's target of 2 per cent, while job growth showed signs of peaking, in a reminder of the challenges the central bank faces in its quest to pull the economy out of nearly two decades of deflation.

  • Austerity Drive, Spending Cuts Risk Fickle Growth: Nomura

    Austerity Drive, Spending Cuts Risk Fickle Growth: Nomura

    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.

  • India's Universal Healthcare Rollout to Cost Rs 1.6 Trillion

    India's Universal Healthcare Rollout to Cost Rs 1.6 Trillion

    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.

  • Arun Jaitley Sees Better Growth in Second Half of FY15

    Arun Jaitley Sees Better Growth in Second Half of FY15

    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.

  • PM Modi Boots Officials Out Of The First Class Cabin

    PM Modi Boots Officials Out Of The First Class Cabin

    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.

  • Government Plans to Reduce Stake in PSU Banks to 52%: Sources

    Government Plans to Reduce Stake in PSU Banks to 52%: Sources

    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.

  • Moody's Welcomes India's Policy Steps, But Wants to See More

    Moody's Welcomes India's Policy Steps, But Wants to See More

    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.

  • Modi Government's Austerity Measure: No New Posts, No First-Class Air Travel

    Modi Government's Austerity Measure: No New Posts, No First-Class Air Travel

    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.

  • Government's Reform Measures to Help Lift Growth: Moody's

    Government's Reform Measures to Help Lift Growth: Moody's

    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.

  • Modi Government's Austerity Drive: No First Class Air Travel, No New Posts

    Modi Government's Austerity Drive: No First Class Air Travel, No New Posts

    These measures include banning officials from first class air travel and a ban on creation of new posts in government.

  • Rupee May Rise to 58/Dollar if 50% Black Money Returns: Report

    Rupee May Rise to 58/Dollar if 50% Black Money Returns: Report

    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.

  • Federal Reserve Ends Bond-Buying, Exhibits Confidence in Economic Recovery

    Federal Reserve Ends Bond-Buying, Exhibits Confidence in Economic Recovery

    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.

  • Cabinet Nod for Signing Pact With Mozambique for Oil and Gas

    Cabinet Nod for Signing Pact With Mozambique for Oil and Gas

    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.

  • Job Generation in July-September Down 20 Per Cent on Quarter: Assocham

    Job Generation in July-September Down 20 Per Cent on Quarter: Assocham

    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.

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