The RBI has projected the country's economic growth at 7.3% this fiscal, even as it has assessed the inflation rate to rule at around 6.5% by end-March, 2013.
Stating that a stage for cheaper lending has been set with the RBI cutting short-term lending rate, India Inc today welcomed the move saying it would boost investments in the country.
HT reports.
Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank on Tuesday said hike in rates of petroleum products is necessary to arrest fiscal slippages.
The Reserve Bank's decision to cut lending rate by 0.50% will encourage investments, finance minister Pranab Mukherjee said today, while assuring the government will also take additional steps to boost growth and control price rise.
The International Monetary Fund (IMF) has marginally lowered India's economic growth forecast to 6.9 per cent in 2012, from 7 per cent projected earlier, on weak global and domestic demand.
The International Monetary Fund has suggested reinvigoration of structural reforms, including development of infrastructure, fiscal consolidation and controlling of inflation to bring India's growth back to potential and ensure its inclusiveness.
India's core inflation of 4.7% in March was below the central bank's expectations, the Reserve Bank Of India's governor Duvvuri Subbarao said today.
Issues related to global economy and international financial architecture are expected to be the focus of finance minister Pranab Mukherjee during his 4-day visit here starting on Wednesday to attend the annual spring meeting of the International Monetary Fund and World Bank.
India’s retail inflation galloped towards double-digits — it was 9.5% in March — amid fears that rain-induced supply constraints and a possible rise in fuel prices will knock up the cost of food and other items.
HT reports.
Up, and soaringThe International Monetary Fund on Tuesday said India must accelerate reforms if it wants to get back to the fast growth trajectory. HT reports.
Country's exports grew by 21% to $303.7 billion in 2011-12 over the previous fiscal, while imports shot up by 32.1%. Imports reached $488.6 billion, leaving a trade deficit of $184.9 billion, commerce secretary Rahul Khullar said.
After more than 6-month wait, the Government today gave approval to Cairn India to raise output from its largest oilfield in Rajasthan block by 25,000 barrels per day to 150,000 bpd.
To prevent rising crude oil prices from hurting consumers and fuelling inflation, the government is working on a comprehensive “rescue package” that includes a significant reduction in central excise duties and sales tax levied by states on petroleum products. Anupama Airy reports. Different states, one problem
Adi Godrej says both perception & reality needs to be improved. HT reports.