With an assistance of €1 billion from Germany, India will develop green corridors fto link power generated from renewable sources like wind and solar energy into the national grid.
State-owned oil companies have deferred a decision on the revision in petrol prices to end of this month.
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.
Belying expectations, global ratings agency Standard & Poor's on Friday reaffirmed its negative outlook on India and in fact warned it may even downgrade the country's sovereign rating to junk grade if the government failed to check the widening fiscal and current account deficits and kickstart reforms for growth.
Global ratings agency Standard & Poor's (S&P) on Friday said its outlook on India remained negative and there is a one-in-three chance of a downgrade within the next 12 months.
Looking to get back on the 8% growth path within the next couple of years, the government has constituted a group of experts to find out ways to increase flow of funds into the infrastructure sector. Anupama Airy and Mahua Venkatesh report.
Mauritius today said that a new Tax Information Exchange Agreement (TIEA) with India has been negotiated and is ready to be signed, which would help the two countries exchange information on tax matters of the entities doing business in the two countries
Finance minister P Chidambaram did not offer much to the salaried class in his budget but his ministry on Wednesday increased the interest rate on provident fund by 0.25%.
The govt, hit by economic woes and scandals, has bumped into a small window of political opportunity: inflation levels are the lowest since UPA 2 took office; the country is set to avoid drought and industrial activity is trending up.
Zia Haq reports.
Trending downwardsWithin the next six months, you may be able to drive into your neighbourhood petrol pump to buy another liquified petroleum gas (LPG) or cooking gas cylinder for your kitchen.
Indian economy is expected topick up and grow in the range of 5.5-6.5% in 2013 even though government steps for new investments have been "relatively small in scope", Moody's said today.
Germany’s economy crept back into growth in the first quarter of the year, after a sharp contraction at the end of 2012, while France slipped into recession, data showed today.
Bankers say the EMIs will start falling only when banks are able to cut deposit rates-the interest that you earn on money parked in savings and fixed deposits with banks.
Inside the rate matrixThe National Pension System (NPS) has delivered double-digit returns for fiscal year 2012-13 and has established “itself as not just being the cheapest retirement product but also as the highest returns generating scheme,” the finance ministry said today.
India's monsoon rains may arrive on the southern coast around June 3, the weather office forecast Wednesday, a late debut that will raise fears any revival for drought-hit tracts of southern and western farmland could be delayed.