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HindustanTimes Sat,12 Jul 2014

Business

Analysis: FM Jaitley pegs fiscal deficit target at 4.5%

Finance Minister Arun Jaitley said the country will stick to the fiscal deficit target of 4.1% of gross domestic product (GDP) set by the previous government for the year ending March 2015. Jaitley added the fiscal deficit would narrow to 3.6% of GDP by fiscal 2015/16 and to 3 % by 2016/17.

PSU banks stocks down after Budget announcement

Shares of public sector banks declined by as much as 4.3 per cent after Finance Minister Arun Jaitley on Thursday said the lenders would require Rs. 2.40 lakh crore capital by 2018 to meet global Basel III norms.

Gold futures rise over 2% after import duty unchanged

India's most-traded August gold contract extended its gains to as much as 2.2 percent on Thursday after the federal government kept gold import duty unchanged at a record 10% in the budget.

Tax holiday for power projects extended by another year

The government has extended by another year the 10-year tax holiday for the power sector, Finance Minister Arun Jaitley announced on Thursday.

Tata Sons says heard from NTT DoCoMo about sale option in Tata Tele

Tata Sons has received formal communication from Japan's NTT DoCoMo Inc about exercising its sale option in Tata Teleservices Ltd, a company spokeswoman said.

Insurance scrips trade mixed after FDI cap hike announcement

Shares of insurance companies saw mixed trends at the BSE after Finance Minister Arun Jaitley on Thursday proposed raising the Foreign Direct Investment (FDI) cap from 26 per cent to 49 per cent.

Finance minister Arun Jaitley presents Modi govt's first budget

Prime Minister Narendra Modi's government presents its first budget shortly amid apprehensions about a dose of 'bitter medicine', which could be administered to revive an ailing economy that has clocked sub-5% growth in two consecutive years. Poll: What do you want from FM Arun Jaitley's maiden budget?

Defence cos shares slide amid FDI hike

Shares of defence equipment makers fell sharply by as much as 10% on Thursday amid finance minister Arun Jaitley raising foreign direct investment in the sector to 49%.

Markets surge, but end in a low after budget fails to excite investors

The benchmark Sensex and Nifty swung wildly on Thursday, but ended lower for the third straight day. Investors took time to understand finance minister Arun Jaitley's maiden Union budget, which promised greener pastures, but held back on big-bang reforms.

Onion crisis after the best-ever harvest

India has produced a record harvest, but many farmers in the onion bowl of Maharashtra have lost a large share of their crop damaged in storage, adding to inflation woes. A doubling in retail prices across major cities is especially troubling for staples such as onions.

Rupee ends largely steady a day ahead of budget

The rupee ended largely steady on Wednesday as strong dollar sales on hopes of a fiscally prudent budget were offset as shares retreated from record highs to fall for a second consecutive session.

Sensex, Nifty close at over 1-week lows ahead of general budget

A day ahead of general budget, the BSE Sensex on Wednesday closed lower by 137 points to over one-week low of 25,444.81 as investors turned cautious on fiscal numbers projected by the Economic Survey 2013-14.

Fiscal consolidation holds key for growth: Economic survey

India, which is currently grappling with several challenges including high inflation, low investments and a slowdown in economic growth, must have a sharp focus on fiscal correction by bringing in tax and subsidy reforms among other things, the Economic Survey 2013-14 said.

Retail inflation to have a low 7% handle in FY15: Barclays

Notwithstanding that the monsoon rains has remained below normal and concerns are building over a failed season, retail inflation is likely to have a low 7% handle in the current financial year, says a Barclays report.
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