Jan exports up 11.5 per cent at $14.3 bn
The Financial Express, 02 March 2010
India’s exports rose an annual 11.5 per cent in January to $14.3 billion, the third consecutive rise after 13 straight months of decline, the government said on Tuesday. More…
Services sector grew fastest in 17 months in February: HSBC
The Economic Times, 3 March 2010
Business activity among Indian service companies grew at its fastest pace in 17 months in February, climbing for the third straight month as both output and new orders increased, a survey showed. More…
Mamata puts green technologies on track
The Financial Express, 25 February 2010
Railway minister Mamata Banerjee on Wednesday proposed a number of measures to fulfil the “common and collective responsibility to take care of mother earth.” More…
Indian Railways Plans $9 Billion Upgrade
Wall Street Journal, 24 February 2010
The Indian Railways, a once-moribund giant transportation network that ferries 18 million people a day around the country, will invest $9 billion in rail upgrades in the financial year starting April 1—a sign of both the government’s desire to appease passengers and a reflection of the business’s revived fortunes in recent years. More…
India’s budget expected to feature fiscal discipline
Market Watch, 24 February 2010
When Indian Finance Minister Pranab Mukherjee presents his federal budget for the new fiscal year on Friday, the focus will be on belt-tightening rather than new spending, analysts say. More…
Industrial clusters to be re-verified
Business Standard, 23 February 2010
The 88 industrial clusters identified by the Central Pollution Control Board (CPCB) will be re-verified for the amount of pollution they generate, on the basis of which they will be re-rated. More…
Centre must fuel 10% GDP growth, says CII chief mentor
The Economic Times, 23 February 2010
FM Pranab Mukherjee will present the Budget this Friday. Wishlists have poured in. Former CII chief mentor Tarun Das outlines the A to Z of the Budget — its likely focus, and proposals. More…
India can fund fiscal deficit: Goldman
Reuters, 22 February 2010
The Indian government will be able to finance its deficit comfortably, Goldman Sachs said in a note, adding that India’s net borrowing in the coming fiscal year will likely be lower than that in the current year. More…
Food prices burn a big hole
The Economic Times, 19 February 2010
Food inflation rose for the fourth-straight week threatening to shatter the Reserve Bank of India’s (RBI) and the government’s upwardly-revised targets on price levels and pushing the market interest rates higher even as policy rates are likely to remain at historic lows till the April review. More…
Push for balanced use of fertilizers
Livemint.com, 19 February 2010
The Union cabinet on Thursday approved a nutrient-based subsidy (NBS) regime for fertilizers that the government says would help increase agricultural productivity by promoting balanced fertilizer use. More…
India gets ready to confront EU on ‘impending’ carbon tax
The Economic Times, 19 February 2010
The commerce department has begun mobilising opinion on the proposed carbon tax that developed countries, especially the European Union, are looking to impose on imports from advanced developing countries like India and China. More…
India retains top spot in gold consumption
The Financial Express, 18 February 2010
India has retained its position as world’s largest gold consumer after a weak first quarter owing to around 49 per cent recovery in demand in peak wedding and festival season, the World Gold Council (WGC) has said. More…
Oil price decontrol won’t impact people adversely
The Economic Times, 18 February 2010
The impact of the recommendations of the expert group on pricing of petrol, diesel, kerosene and LPG on the poor and on the price level should be no more than that of present policy and most likely smaller over time. More…
Gradual rollback of stimulus seen in FY11
The Financial Express, 17 February 2010
The government will gradually wind down its growth-supporting stimulus over the next fiscal year beginning on April 1, but will still need to borrow a record amount from the market, a Reuters survey of economists showed. More…
Fertiliser subsidy bill to stay high at Rs 70000 crore
The Economic Times, 17 February 2010
Revised estimates of fertiliser subsidy for 2009-10 are likely to be almost as high as in 2008-09, at around Rs 70,000 crore, excluding special bonds to the tune of Rs 20,000 crore. More…
Surging inflation poses major risk to quicker recovery process
The Economic Times, 17 February 2010
A record growth of 16.8% in Index of Industrial Production came in as a pleasant surprise for most economists, even though double digit growth in IIP was expected. More…
Food prices falling, to dip further – Pawar
Reuters, 17 February 2010
Food prices in India, which rose an annual 18 percent in January, have started falling and will dip further next month, Farm Minister Sharad Pawar told reporters on the sidelines of a conference on Wednesday. More…
Inflation surges to 8.56%, at 13-mth high
The Financial Express, 15 February 2010
The government said inflation surged to 8.56 per cent in January, the highest in over 13 months, ahead of the Union Budget for 2010-11 that would spell out the stance on stimulus packages. More…
PetroMin pressing for deregulating fuel prices
Indian Express, 15 February 2010
The Petroleum Ministry is pushing for freeing petrol and diesel prices from government control and is awaiting political consensus on the issue to implement it. More…
FM plays back 7.75% rise on better-than-expected Q2
The Economic Times, 11 February 2010
NEW DELHI: Finance minister Pranab Mukherjee on Wednesday exuded confidence that economy may grow at a faster pace of 7.75%, higher than government’s growth estimate for the current financial year. More…
Stimulus rollback: 2 percentage point excise hike in budget
Business Standard, 11 February 2010
A first step towards withdrawing the post-crisis fiscal stimulus may be taken in the Union Budget for 2010-11, with an increase in the Cenvat rate for excise duty by 2 percentage points. More…
Economy to grow by 7.75 pct in FY10: FM
The Financial Express, 10 February 2010
Referring to last year’s economic survey projections that Indian economy could grow by 7.75 per cent this fiscal, Finance Minister Pranab Mukherjee said that the economic expansion is expected to be in the upper range of most predictions. More…
India Economic Potential at Six-Year High, Singh’s Adviser Says
Business Week, 09 February 2010
India is poised to resume its record pace of expansion, Prime Minister Manmohan Singh’s top economic adviser said, as global companies flock to the fastest-growing major economy after China. More…
Exports growth pegged at 8 pct in Jan
The Financial Express, 09 February 2010
India’s exports are estimated to have grown by about 8 per cent to USD 14 billion in January, retaining the positive trend for the third month in a row after contraction for 13 months. More…
Economy to grow at 7.2 pct in FY10
The Financial Express, 08 February 2010
The government estimated the economy to grow by 7.2 per cent in financial year 2009-10, against 6.7 per cent a year ago, despite contraction in farm production. More…
RBI ready to free all lending rates
Livemint.com, 08 February 2010
In a game-changing move for the Indian financial sector, the Reserve Bank of India (RBI) is set to deregulate all lending rates in the next fiscal year, starting in April. More…
Hike export duty on ore: Steel min
The Economic Times, 06 February 2010
THE steel ministry has proposed an across the board increase in export duty on iron ore to discourage export and lower the import duty on ore to zero to ensure that there is adequate raw material available for the domestic industry. More…
Food inflation rises for the second week
The Economic Times, 5 February 2010
Annual food inflation rose for the second week on the trot, affirming RBI’s fears of a spillover into other commodities and services and mounting pressure on the government to take more measures to arrest prices. More…
Govt to look to lower fiscal stimulus – Adviser
Reuters, 5 February 2010
India would make efforts to bring down fiscal stimulus for the economy, and do so in a way that does not disrupt growth, C. Rangarajan, chairman of the prime minister’s economic advisory council told reporters on Friday. More…
Raise cooking, auto fuel prices, says Parikh Panel
Business Standard, 04 February 2010
The Kirit Parikh committee has recommended market-determined pricing for petrol and diesel. It has also recommended linking the price of domestic LPG and kerosene distributed through the Public Distribution System (PDS) to the increase in per capita GDP for urban population and agriculture GDP, respectively. More…
Manmohan reviews prices of essentials
The Hindu, 04 February 2010
Prime Minister Manmohan Singh on Wednesday reviewed the prices of essentials with Finance Minister Pranab Mukherjee and Agriculture Minister Sharad Pawar here. More…
Govt to consider fuel price deregulation proposal
The Economic Times, 3 February 2010
The government will shortly consider a proposal that it give up control of fuel prices, the oil minister said on Wednesday, a move which would ease pressure on government finances and improve earnings of oil retailers. More…
Commerce min for cheaper forex loans for exporters
The Economic Times, 03 February 2010
In a bid to consolidate the nascent export recovery, the commerce & industry ministry is pushing for cheaper forex loans for exporters. Since liquidity has improved significantly since the financial sector meltdown, the ministry feels that there is a strong case for reducing the interest charged on foreign exchange loans. More…
Private sector may be roped in to hone rural work skill
The Hindu, 3 February 2010
The Centre is considering seeking the help of private institutions to impart training to BPL households to augment functional capability of workers in rural areas, Prime Minister Manmohan Singh said here on Tuesday. More…
British consortium to build roads in India, says Kamal Nath
The Hindustan Times, 02 February 2010
A group of three British construction companies have set up a consortium to build roads and highways in India, Road Transport and Highways Minister Kamal Nath said on Tuesday. More…
Imports rise 27%, confirm economy back on track
The Economic Times, 02 February 2010
Imports moved back to the positive terrain for the first time since the financial crisis, clocking a 27% growth in December indicating that the domestic economy was well on its way to recovery. More…
Budget to facilitate financial inclusion
Livemint.com, 02 February 2010
As part of a plan to give the poor access to modern financial services, the government will earmark significant funds in the coming Union Budget to fund the creation of a common technology platform that will help banks reach out to the poorest at a low cost, according to people familiar with the matter. More…
Exports up 9.3 pct to $ 14.60 bn in Dec
The Financial Express, 01 February 2010
The country’s exports grew for the second straight month in December by 9.3 per cent to USD 14.60 billion (around Rs 68,000 crore). Overseas shipments were USD 13.36 billion in December 2008. More…
Power to clear city gas projects may shift to Govt
Business Standard, 01 February 2010
The power of issuing authorisation for city gas distribution (CGD) would revert to the Union government, Attorney General G E Vahanvati has told GAIL Gas Ltd. More…
Finmin upset at SBI debt math
The Economic Times, 01 Feb 2010
The government has taken note of the State Bank of India (SBI) not making provisions for bad loans under agriculture debt relief scheme and may write to the country’s biggest bank seeking an explanation, a finance ministry official told ET. More…