Reported By: Heena Gambhir | October 21, 2014 16:32 (IST)
Oil Minister Dharmendra Pradhan said in an interview to NDTV that the move to deregulate diesel prices is a "well thought decision" and the markets are appreciating it. He also said that as the world is seeing some stability in oil prices, it is the best time to make the most of this opportunity.
October 21, 2014 14:51 (IST)
Still, Moody's also noted the fiscal savings for the government's diesel measures "are likely to be limited" given total subsidies account for less than 1 per cent of the country's 2013/14 gross domestic product.
October 21, 2014 12:58 (IST)
The Narendra Modi government has set in place building blocks for reforms in the coal sector with the cabinet recommending an Ordinance or executive order with a provision to allow commercial mining for domestic companies, though it has set no timeline for this. The move comes days after the government kicked off reforms in the energy sector by decontrolling diesel prices and hiking gas prices.
October 20, 2014 22:41 (IST)
The scrapping of diesel price controls by the government opens the door for private sector refiners to return to a domestic retail market from which they have been excluded for years because they could not compete with state firms.
October 20, 2014 22:37 (IST)
The government promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls.
October 20, 2014 22:25 (IST)
The Centre is closer to finding a solution to approve a legislative scheme that will enable the introduction of Goods and Services Tax (GST), Union Minister of State for Commerce and Industry Nirmala Sitharaman said on Monday.
October 20, 2014 21:16 (IST)
The government moved on Monday to open up its coal industry to commercial mining, signalling the most serious shift in 42 years toward allowing private players full participation in the sector.
October 20, 2014 20:21 (IST)
Finance Minister Arun Jaitley on Monday signalled that the government may allow commercial use of mines in the future, but did not indicate when. The government is also using an executive order or Ordinance to acquire the land of nearly 214 coal blocks that were cancelled in September by the Supreme Court.
October 20, 2014 20:19 (IST)
Finance Minister Arun Jaitley and Coal Minister Piyush Goyal are briefing the media after Monday's Cabinet meeting.
October 20, 2014 19:19 (IST)
Officials who attended the meeting included the central bank governor, deputy governors, executive director, officials from the finance ministry and other stock and insurance sector regulators, among others.
October 20, 2014 19:03 (IST)
The government is mulling over reimposing some restrictions on gold imports after Diwali as higher inward shipments of the metal in the last few months have pushed up the trade deficit, a government official said.
October 20, 2014 18:46 (IST)
The government's decision to free diesel prices will give more space to the Reserve Bank (RBI) to slash interest rates earlier than expected, and also help in improving the overall finances of the country, according to a report by India Ratings.
October 20, 2014 18:22 (IST)
The Narendra Modi government may discuss much-needed reforms in the coal sector in a Cabinet meeting today, sources told NDTV. A decision on reforms in the coal sector may come after the government announced linking diesel prices to market rates and hiked prices of domestic gas over the weekend. The government needs to address the deficit in coal supply urgently to reduce import dependence and provide uninterrupted power to fuel a growing economy.
New Delhi | October 20, 2014 16:53 (IST)
The government has fixed direct tax collection target of over Rs 7,36,221 crore for 2014-15, which is 15 per cent higher than the last fiscal's revised estimates.
October 20, 2014 09:29 (IST)
Diesel deregulation would result in a sharp fall in diesel inflation to 4 per cent from 13 per cent by December 2014, said Motilal Oswal.
October 19, 2014 21:59 (IST)
India is poised to become a $2 trillion economy this year, while its GDP size would cross another milestone of $3 trillion after five years in 2019, according to IMF's latest world economic outlook.
October 19, 2014 21:34 (IST)
Evaporating inflation and slowing growth have put financial markets into such a spin that they could inflict further damage on the world economy.
October 19, 2014 19:41 (IST)
India Inc on Sunday hailed good show by the Bharatiya Janata Party (BJP) in Maharashtra and Haryana Assembly polls hoping that it will give further impetus to the Narendra Modi government to push ahead with key economic reforms including Goods and Services Tax (GST).
October 19, 2014 18:59 (IST)
Foreign direct investment into India declined about 10 per cent in August this year to $1.27 billion, the lowest figure in the last eight months.
October 19, 2014 15:52 (IST)
Good show by the Bharatiya Janata Party (BJP) in Maharashtra and Haryana Assembly polls will give further impetus to the Narendra Modi government to push ahead with key economic reforms including GST, the Associated Chambers of Commerce and Industry (Assocham) said on Sunday.