The Indian economy is likely to grow by eight per cent in the next fiscal, propelled by domestic demand, financial services firm Nomura has said.
The country is reeling under the impact of steep rise in a number of food items pummelled by a supply crunch in staple items such as potatoes, cereals and pulses.
Economic ties are expected to form the cornerstone of the new framework that Prime Minister Manmohan Singh and President Barack Obama hope to create to take the India-US relationship to a "new level" at their summit this month.
The SME Chamber of India is planning to make a representation to capital markets regulator Securities and Exchange Board of India (SEBI) requesting that the size of a trading lot be reduced and to have a separate set of brokers for SME trades, reports Devraj Uchil.
New claims for unemployment insurance fell more than expected last week, evidence the job market is slowly healing as the economy recovers.
The incessant rains in Maharashtra in the past few days has hit supplies at the wholesale APMC market in Vashi.
Food inflation edged up to 13.68 per cent for the week ended October 31, from 13.39 per cent in the previous week mainly on account of soaring vegetable prices.
Chinese factory output growth surged to a 19-month high in October, showing the world's third-largest economy has firmly put the worst of the global financial crisis behind it.
Domestic demand would hold the key for the Indian economy’s recovery, and the timing of withdrawing fiscal sops would hinge on sustained rise in consumption expenditure at home, Finance Minister Pranab Mukherjee said.
Finance Minister Pranab Mukherjee today said the government will continue to provide fiscal stimulus to boost domestic demand until robust recovery is seen in the developed economies.
Continuing with its rising streak for the fifth day, the rupee appreciated by 6 paise in early trade on Tuesday to hit a three-week high at 46.39 against the US dollar, supported by firming Asian stocks.
Finance Minister Pranab Mukherjee has said that India will not be able to sustain high fiscal deficit in the long run, but he did not give any timeframe for withdrawing the stimulus measures that inflated the deficit.
Prime Minister Manmohan Singh, who as finance minister in the 90s initiated liberalisation, today said his government would steadily pursue reforms to feed economic growth, while withdrawing the fiscal stimulus by next year.
India's economic growth rate is expected to accelerate to eight per cent in the next fiscal from 6.3 per cent projected for the current financial year, the Planning Commission has said.
Seven of the top-10 most valued companies lost a total of over Rs 23,000 crore from their market capitalisation during the result season last month, while firms including Reliance Industries and NTPC saw their valuations rise.