October 31, 2014 20:44 (IST)
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.
October 31, 2014 20:07 (IST)
The government no longer has a role in determining fuel prices, and oil companies have the freedom to revise prices according to international rates
October 31, 2014 20:06 (IST)
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.
October 31, 2014 17:38 (IST)
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.
New Delhi | October 31, 2014 17:14 (IST)
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.
October 31, 2014 16:13 (IST)
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.
Tokyo | October 31, 2014 11:49 (IST)
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.
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.