Mumbai | December 12, 2013 14:43 (IST)
The Commerce Ministry has sought changes to a notification that exempted duty on goods from special economic zones (SEZ) sold locally to remove ambiguities and plug revenue losses.
Washington | December 12, 2013 13:39 (IST)
Total black money outflow from India was nearly $343 billion (nearly Rs 21 lakh crore at dollar/rupee value at 62) during 2002-2011, says a report. This puts India as the fifty largest exporter of illicit money, the report adds.
New Delhi | December 11, 2013 23:28 (IST)
Industry bodies on Wednesday exuded confidence that India's export target of $325 billion for the current financial year (FY14) would be met even as growth in overseas shipments slowed to a five-month low in November.
New Delhi | December 11, 2013 18:19 (IST)
The Bharatiya Janata Party (BJP) favours abolition of income, sales and excise tax and the party may include it in its vision document to be unveiled ahead of general elections next year.
New Delhi | December 11, 2013 16:35 (IST)
Prime Minister's Economic Advisory Council chief C Rangarajan on Wednesday said India can tolerate $30 billion worth of gold imports, citing high imports of the yellow metal as a major reason for a high current account deficit last fiscal year.
December 11, 2013 16:22 (IST)
Ban on iron ore mining in Goa and Karnataka is not only hurting the economy but has rendered as many as one lakh people jobless, Vedanta Resources chief Anil Agarwal said today.
December 11, 2013 15:22 (IST)
Data on Thursday is expected to show India's consumer inflation remained high at 10 per cent in November from a year earlier, with wholesale prices due out on Monday expected to have risen 7 per cent.
December 11, 2013 12:34 (IST)
The Reserve Bank of India will announce next week steps to recognise and resolve financial stresses, including making it more expensive for so-called wilful defaulters to borrow funds, governor Raghuram Rajan said on Wednesday.
December 11, 2013 12:22 (IST)
S&P is the only one of the three major credit agencies with a "negative" outlook on India. The country is rated "BBB-minus" or its equivalent by these agencies, meaning any cut would lead into so-called junk territory with any downgrade.
December 11, 2013 12:02 (IST)
Imports fell by 16.37 per cent year-on-year to $33.83 billion. Gold and silver imports slumped 80.49 per cent to $1.05 billion in November compared to a year earlier.
December 11, 2013 11:55 (IST)
The RBI governor called on the government to continue its efforts to contain the fiscal deficit and said raising subsidised diesel prices to market levels would help.
New Delhi | December 11, 2013 11:04 (IST)
The fiscal deficit target for the current fiscal year ending in March 2014 is set at 4.8 per cent of GDP and Chidambaram has repeatedly pledged the country would meet the target.
Bangalore | December 11, 2013 10:56 (IST)
The poll of 26 economists predicted India's November wholesale price inflation was at 7 per cent year-on-year, unchanged from October - which was the highest since February.
December 11, 2013 10:50 (IST)
India has witnessed consistently high inflation for the past few years and the central bank's efforts to rein in high prices have failed miserably. In fact, the several rate hikes to control inflation led to a sharp slowdown in India's economy, creating further problems for the government.
December 11, 2013 10:18 (IST)
Finance Minister P Chidambaram is addressing top economists from across the country at the two-day long Delhi Economic Conclave in New Delhi. This is the first time Mr Chidambaram is speaking after the ruling Congress Party lost the recently concluded state polls.
Manila | December 11, 2013 07:47 (IST)
The Manila-based bank slightly raised its forecast for China this year and the next, aided by the impact of government reforms and better prospects for key trading partners.
New Delhi | December 10, 2013 21:14 (IST)
Retail investors and eligible employees will get a discount of Rs 4.50 a share on the issue price, Power Grid said in a filing to the BSE. The price band for the FPO was Rs 85-90 apiece.
Hong Kong/Singapore | December 10, 2013 12:58 (IST)
The government has articulated a strong commitment to fiscal consolidation. But this commitment may be tested further as the deficit-reduction goals are stretched, and a steeper political struggle to pull in more votes may hinder the full scope of expenditure restraint.
Bangalore, India | December 10, 2013 10:19 (IST)
Industrial production probably contracted 1.2 per cent annually in October, after rising 2.0 per cent in September, according to the median of 26 economists.
Mumbai | December 09, 2013 16:20 (IST)
The government's fiscal deficit target of 4.8 per cent of gross domestic product (GDP) for fiscal year 2013-14 (FY14) is likely to be breached as the revenue growth has slowed, while expenditure has gone up in the first half of the fiscal year, foreign lender HSBC said on Monday.