Describing the 1.8% industrial output growth in December as "disappointing", finance minister Pranab Mukherjee today expressed hope that the figures would show some improvement in the coming months.
Karel De Gucht, the European Union (EU) trade commissioner, called on commerce and industry minister Anand Sharma on Thursday ahead of the 12th EU-India Summit that will take place in the capital on Friday. HT reports.
Finance minister Pranab Mukherjee is likely to slash the securities transaction tax (STT), in a move that is likely to boost investor sentiments. The government is, however, unlikely to impose the commodity transaction tax (CTT) on commodity futures and options. HT reports.
After China's recent opposition to India’s oil and gas hunt in the South China sea, the stage is set for the two largest-growing economies of the world to join hands in their pursuit to acquire oil and gas assets abroad. Anupama Airy reports. Common interests and contentions
The Confederation of Indian Industry (CII) has stated that India and Pakistan can achieve bilateral trade of $10 billion by 2015, if barriers to trade and investment are dismantled. This would be substantially higher than the level of $2.7 billion realised in 2010-11. HT reports.
Asking the states to streamline procurement, storage and distribution of foodgrains, Planning Commission deputy chairman Montek Singh Ahluwalia on Thursday said with 10% improvement in efficiency Rs 7,000 crore can be saved every year.
Exports grew by 10.1% year-on-year to $25.4 billion, while imports increased by 20.3% in January, commerce secretary Rahul Khullar said today.
The National Housing Bank (NHB) is set to receive $300 million (R1500 crore) from the World Bank, which would help in its refinancing programme. The agreement would be inked in the next few weeks.
The government is drafting the framework of a “white paper” on black money that it is likely to present before Parliament in the forthcoming budget session.
Given the increase in imports from India and the decision of the Pakistan Cabinet in November to grant the Most Favoured Nation (MFN) status to India, a dedicated cross-border trade gate is being opened at the Wagah border to encourage bilateral trade between India and Pakistan.
Anupama Airy reports.
Federal Reserve chairman Ben Bernanke kept to his message of caution on Tuesday, warning a Senate panel that sharp spending cuts and tax increases scheduled to take effect in early 2013 could slow the nation’s economic recovery if federal officials do not take further action.
With Europe sliding toward recession, the region’s two main central banks are preparing to redouble their emergency measures aimed at softening the downturn and blunting the effects of the government debt crisis.
The bilateral goods and services trade between India and the US is expected to cross a record $100 billion in 2012, the US Ambassador–designate to India Nancy Powell has said.
Greek party leaders faced crunch talks on Tuesday to secure a new international bailout and avoid a chaotic debt default, caught between EU demands that they accept painful reforms now and a national strike against more austerity.
India’s farm sector is set to expand by a moderate 2.5% during 2011-12 and all hopes to sustain growth are on this year’s monsoon rains. Last year the farm sector grew by 7% but that was on the previous drought year’s output. A strong farm sector output is critical to bringing down food inflation.