June 17, 2013 19:12 (IST)
The indirect tax collection for the month of April-May was Rs 71,379 crore, while the customs duty collection and service tax collection for the period were Rs 28,080 crore and Rs 19,710 crore, respectively.
June 17, 2013 18:53 (IST)
The government is keen on increasing FDI ceilings to attract more inflows, and finance the widening current account deficit.
June 17, 2013 18:01 (IST)
According to RBI trade deficit widened to $20.1 billion in May from $17.8 billion a month ago. Gold and silver imports rose nearly 90 per cent to $8.4 billion in May.
June 17, 2013 16:45 (IST)
Ruling out the possibility of cutting lending rates after Reserve Bank kept key rates unchanged, bankers today said the central bank decision to hold the rates was on expected lines given the troubles on rupee and high current account deficit.
New Delhi | June 17, 2013 15:02 (IST)
India has been struggling to control the current account deficit that hit an all-time high of 6.7 per cent of the gross domestic product (GDP) in the December quarter. The deficit has exacerbated the fall of the Indian rupee against the dollar in the recent sell-off in emerging currencies.
Mumbai | June 17, 2013 12:04 (IST)
The RBI also called for vigilance over global economic uncertainty, citing the risks of a reversal of capital flows from emerging markets. Such outflows would exacerbate the country's high current account deficit.
June 17, 2013 11:30 (IST)
Chairman of Economic Advisory Council to the Prime Minister C. Rangarajan told NDTV that the Reserve Bank has taken a "cautious view" by not cutting interest rates and the central bank's decision was "largely influenced by external sector considerations".
June 17, 2013 10:56 (IST)
The Reserve Bank of India kept its key policy rates unchanged on Monday as widely expected.
June 17, 2013 07:55 (IST)
Softening headline inflation alone will no longer be enough to spur the Reserve Bank of India to cut interest rates at a time when it faces other pressing challenges such as a record low rupee and the risk of potentially destabilising capital outflows.
Mumbai | June 16, 2013 19:26 (IST)
Ahead of the mid-quarter review of monetary policy on June 17, State Bank of India (SBI) has said if the Reserve Bank of India (RBI) cannot reduce the cash reserve ratio (CRR), which is a must for lending rate cuts by banks, they should pay interest on cash reserves that banks park with the monetary authority.
New Delhi | June 16, 2013 19:04 (IST)
Government processes in India take too long and the country needs to change regulations that govern business, Raghuram Rajan, Chief Economic Advisor in the Finance Ministry, has said.
New Delhi | June 16, 2013 18:07 (IST)
India has approached over half a dozen foreign jurisdictions, including Singapore and some tax havens, for banking and other financial details of more than 500 individuals and entities that might have 'secret offshore accounts' at those places.
New Delhi | June 16, 2013 15:54 (IST)
Strongly favouring the hike in FDI cap to 100 per cent in the telecom sector, Commerce and Industry Minister Anand Sharma said on Sunday that he would soon move the Cabinet for further liberalisation in other sectors as well which hold potential for FDI inflows.
Mumbai | June 16, 2013 12:06 (IST)
Pressure is mounting on the Reserve Bank of India (RBI), both by banks and the industry, to cut policy interest rate as well as cash reserve ratio (CRR) on Monday to boost sagging industrial growth.
Mumbai | June 15, 2013 17:30 (IST)
State Bank of India (SBI) and Reliance Industries Ltd (RIL), two of the highest tax payers in the financial capital, on Saturday showed an increase in their first quarter advance tax outgoes.
New Delhi | June 14, 2013 23:23 (IST)
A DoT panel has suggested completely opening up the telecom sector to foreign direct investment (FDI), a move which is expected to bring in fresh funds into the industry that is facing a financial crisis.
Mumbai | June 14, 2013 23:13 (IST)
India's foreign exchange reserves rose $1.78 billion to reach $289.67 billion during the week ended June 7 on account of a healthy increase in currency assets.
New Delhi | June 14, 2013 22:08 (IST)
The Reserve Bank of India (RBI) is likely to cut policy rates by 0.25 per cent and keep the cash reserve ratio unchanged at its policy review next week, on the back of slower-than-expected growth and more encouraging inflation readings, according to an HSBC report.
Mumbai | June 14, 2013 21:46 (IST)
Overseas direct investment by Indian companies fell to $1.83 billion in May, down 76 per cent from a month ago, Reserve Bank of India data showed on Friday.
New Delhi | June 14, 2013 21:41 (IST)
Inflation easing to three and a half year low levels in May paves the way for the Reserve Bank of India (RBI) to cut interest rate on June 17, India Inc said on Friday.