Economy

Mumbai | May 23, 2013 17:28 (IST)

Reserve Bank of India governor Duvvuri Subbarao went against the suggestion of a majority of external members of the apex bank's monetary policy committee that recommended no change in repo rate at the annual monetary policy statement for 2013-14 on May 3.

New Delhi | May 23, 2013 16:48 (IST)

India's current account deficit is expected to show some improvement in the January-March period at 4-4.5 per cent of its gross domestic product (GDP), but is likely to worsen again in the current quarter due to sluggish exports, high gold demand and seasonal rise in imports, Nomura has said.

May 23, 2013 15:54 (IST)

Finance Minister P. Chidambaram said fears the Federal Reserve would start reversing its U.S. monetary stimulus programme were unfounded but his remarks failed to prevent steep falls in domestic markets on Thursday.

Mumbai | May 23, 2013 13:51 (IST)

The decision, taken on Wednesday, has not yet been formally intimated by the Finance Ministry, but the current tranche will enable the companies to report quarterly profits at their earnings next week, officials at the three companies, who declined to be named, said.

May 23, 2013 12:38 (IST)

In a bid to calm stock markets, Finance Minister P Chidambaram on Thursday said the Fed statement on the possible scaling back of the bond buying programme has been "misunderstood".

New Delhi | May 22, 2013 21:50 (IST)

Indicating that the worst may be over for India's economy, Prime Minister Manmohan Singh said on Wednesday that the economic situation is turning around with inflation coming under control and the gross domestic product (GDP) growth likely to exceed 6 per cent in the current fiscal year.

New Delhi | May 22, 2013 20:19 (IST)

Asserting that the government will last its full five-year term, Finance Minister P Chidambaram said on Wednesday that people should expect more reforms in the second half of 2014.

Washington | May 22, 2013 11:37 (IST)

"The broader issue is one that is of concern to the President and one that he's focused on, because in terms of the policy matters that it raises, the report by Senators (Carl) Levin and (John) McCain raises a set of broader issues around companies that ship their profits and their jobs offshore," White House Press Secretary Jay Carney told reporters yesterday.

New Delhi | May 20, 2013 19:33 (IST)

Worried over India's widening current account deficit, the government indicated on Monday that it could take more steps to check gold imports.

Mumbai | May 20, 2013 16:20 (IST)

Foreign investors will be able to buy inflation-linked bonds within the existing total investment limits of up to $25 billion for government debt, a senior Reserve Bank of India (RBI) official said on Monday.

New Delhi | May 20, 2013 16:16 (IST)

The number two in the Chinese leadership offered New Delhi a "handshake across the Himalayas" and said the world's most populous nations could become a new engine for the global economy if they could avoid such irritants.

New Delhi | May 20, 2013 14:57 (IST)

Planning Commission Deputy Chairman Montek Singh Ahluwalia believes that 2013-14 will be the "turnaround year" for India's economy.

New Delhi | May 20, 2013 12:25 (IST)

The rating agency last week warned that India needed to follow through on implementing a slew of pending economic reforms, a warning that dealt a blow to a government that had recently pitched for an upgrade.

New Delhi | May 19, 2013 19:37 (IST)

Taking a cue from the continued downward surprises in inflation and sluggish growth indicators, the Reserve Bank of India (RBI) is likely to go for further monetary easing in its June 17 policy meet, global investment banking majors have said.

New Delhi | May 19, 2013 18:41 (IST)

Aimed at widening revenue from indirect tax, the Finance Ministry has implemented one-time amnesty scheme for service tax defaulters to pay their due without any penalty or late payment charges.

New Delhi | May 19, 2013 17:02 (IST)

Failing to deposit services tax may now attract arrest and imprisonment for up to 7 years. With the passage of Finance Bill 2013 last week, the revenue department officials can now arrest a person for non-payment of collected service tax.

New Delhi | May 19, 2013 11:38 (IST)

Concerned over the widening difference between growth projections and actual realisations, the Planning Commission has made a case for improving the economic model to project gross domestic product (GDP).

New Delhi | May 17, 2013 21:57 (IST)

Expressing surprise over S&P's threat to downgrade India's credit rating, industry bodies on Friday termed the global agency's affirming its negative outlook on the country as unfortunate and harsh.

New Delhi | May 17, 2013 20:40 (IST)

Expressing disappointment over S&P's rating action, the government said on Friday that its fiscal policies are on the right track and there is nothing to be worried about.

May 17, 2013 17:32 (IST)

Global ratings agency Standard & Poor's has affirmed its BBB minus with a negative outlook rating on India, the lowest investment grade among the BRIC group of large emerging economies. India has one in three chance of a rating downgrade in next 12 months, S&P added.