In the oil and gas sphere, Congress' manifesto talks of the intention to improve oil diplomacy and intensify domestic oil exploration and production.
DIAL, the GMR-led consortium modernising Delhi airport, had projected it would get only a Rs 800 crore-Rs 1,000 crore deposit for the entire 45 acre land in the hospitality district, leaving a gap in funding for the modernisation plan. The aviation ministry allowed it make up the shortfall by levying an ADF on passengers. With DIAL managing to persuade bidders for the hospitality district to increase security deposits by close to 50 per cent, the ADF may now be reduced.
With the government facing a record-high deficit in its finances, the recent increase in market borrowings has resulted in an oversupply of g-secs, and a fall in prices. Yield, which is the ratio of interest paid and price, moves in the opposite direction of price movement.
Amid decelerating manufacturing growth, the Reserve Bank wants the government to come out with measures in the Budget to give a boost to the sector, which can employ surplus labour from agriculture.
Here is another sign that the economy is slowing. The growth rate of diesel and petrol consumption is down sharply, though it is still in the positive territory.Year-on-year growth in diesel consumption in December 2008 was down to a mere 1.5 per cent as against 10.7 per cent growth in December 2007. Consumption of petrol grew 5.5 per cent in the month compared with 9.5 per cent in December 2007.Preliminary data for January showed that diesel consumption grew only 2 per cent.
For one thing, US Fed Chairman Ben Bernanke was perhaps right in postponing the quantitative easing taper even though the markets had complained at that time that they were primed for some reduction in QE3 and the Fed had missed an opportunity to execute their plans without causing too much of a flutter.
Calling for 'fundamental restructuring' to put India back on its growth trajectory, McKinsey said on Wednesday that the country will run out of capital to support economic expansion.
In its first intervention in Asia since the beginning of the current financial crisis, the IMF has approved a $7.6 billion rescue fund for Pakistan that will support the country's economic stabilisation programme.
In an interview with Business Standard's Sapna Dogra Singh and John Samuel Raja D, C Rangarajan says there are some encouraging signs in the economy, but the real recovery will come only in 2010-11.
The basics and history of India's tax policy suggests that increase in the number of taxpayers has occurred and so has compliance with a reduction of tax slabs and moderate rates of tax.
The Budget sets out a comprehensive vision.
The Economic Survey was tabled in the Parliament on Friday.
FM should avoid proposals such as to tax financial transactions and fringe benefits
The Urjit Patel committee on monetary policy framework has proposed setting up of a monetary policy committee (MPC) that will be headed by the Reserve Bank of India (RBI) governor and accountable for achieving inflation target set by it.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
Research firm Gartner today reported that worldwide IT spending will touch $3.350 trillion--an increase of 3.9 per cent from 2009. However, it simultaneously lowered its outlook for the IT industry from the first quarter of this calendar year, when it had forecast worldwide IT spending to grow 5.3 per cent. This is primarily due to the devaluation of the euro versus US dollar since the beginning of the year.
"The central fiscal situation has improved but several underlying fiscal pressures are not entirely evident in the numbers," Reddy said at an event organised by the National Institute of Public Finance and Policy. In 2008-09, the Centre has budgeted to cut fiscal deficit to 2.5 per cent of GDP from 3.1 per cent in 2007-08.
2014 was a year for downturn for most economies across the globe.
Bharti Airtel, 30 per cent owned by Singapore's SingTel, also announced a drastic cut in roaming rates under which incoming roaming calls will be charged at Re 1 a minute compared with the existing Rs 1.75.
Prime Minister Manmohan Singh told the nation that inflation should come down to 5-6 per cent by December.
Stronger fiscal surveillance should be accompanied with broader macroeconomic surveillance, to go to the roots of sustainable growth.
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
The telecom regulator on March 27, announced its decision to phase out the Access Deficit Charge, which was paid by private telecom service providers to compensate BSNL for offering services in rural areas at subsidised rates. All major telecom players, Bharti Airtel, Tata Teleservices and Vodafone Essar had also welcomed the move.
"This is the result of tighter fiscal discipline imposed by the fiscal responsibility framework ... and an optimistic revenue outlook driven by the buoyancy in revenue collections during the last three years of the 10th Plan," the 11th Plan document points out.
"For 2010-11 and beyond, the Kirit Parikh report will be the benchmark. The report is being studied.These decisions are politically sensitive issues and have to be sustained over a period of time," Petroleum Secretary S Sundareshan told Business Standard. "It is impossible to insulate the Indian consumer against the movement in international oil prices."
Finance Minister Pranab Mukherjee on Friday ruled out rollback of petrol and diesel price hike saying the nation's fiscal condition did not permit him to do so.
Experts say only three per cent individuals pay taxes.
German Chancellor Angela Merkel and French President Nicolas Sarkozy could not resolve their differences over further boosting the European Financial Stability Facility, recapitalisation of European banks heavily exposed to sovereign debts and a partial write-down of Greek government's debts at a two-hour emergency meeting in Frankfurt on Wednesday night.
Telecom player Bharti on Thursday said it would pass on the full benefits of the cut in Access Deficit Charge to its subscribers from February 1, when the new regime comes into effect.
India, which imports 73 per cent of its oil needs, has been hit by the surge in international crude oil prices that touched $96 a barrel last week. State-run fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum are currently losing Rs 240 crore (Rs 2.4 billion) per day on selling petrol, diesel, domestic LPG and PDS kerosene as the government has not allowed them to raise retail prices in line with the surge in cost.
Since multilateral trade creates a stable, peaceful world, normalisation of bilateral trade between India and Pakistan will start a series of peace building measures, especially along the bordering areas of both states which is the worst affected from the on-going conflict, say Riya Sinha and Shehzad Poonawalla.
The Indian economy suffers deep structural flaws that piecemeal measures in the Budget are unlikely to solve.
India's indigenous paper manufacturers are forced to use a variety of raw materials.
Swadeshi economist, columnist and chartered accountant S Gurumurthy speaks to Shobha Warrier about one year of Modi Sarkar.
Centre likely to miss collection target for '09-10
Union Budget 2015 cuold have included few smaller reforms.
'It will be interesting to see how Dr Patel handles gadflies with the maturity of egregiously petulant three year olds.' 'That Dr Patel does not, in so far as we can tell, cause society matrons to gush like hormonal teenagers can only be a good thing for him.' 'Look where their febrile imaginations and breathless prose took his predecessor.'
The Greece and Euro-zone bailout may not end their solvency problems but it signals that EU policymakers remain committed to global financial stability.
The Indian economy is expected to post a robust growth for the fourth straight year, expanding by an accelerated 9.2 per cent in 2006-07 as against 9 per cent in the previous fiscal.
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