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HindustanTimes Mon,14 Jul 2014

Economy

Govt underlines need for retail, aviation FDI

India's economic growth will gather speed over the next two years but radical policy changes including foreign investment in multi-brand retail and availability of agricultural land for industry are needed, the Economic Survey said. HT reports.

Europe, US crisis to hit India's export: Economic Survey

The lingering economic crisis in Europe and the United States will affect India's merchandise as well as services exports in the financial year beginning April 1, according to the Economic Survey for 2011-12 tabled in parliament on Thursday.

Budget blues? Rupee loses 47 paise against the US dollar

The rupee on Thursday lost 47 paise to close at a 50.38/39 against the US dollar as dealers bought dollars in order to hedge their position against any unexpected announcement in the Budget.

Inflation may ease to 7% on high output, lower prices

Headline inflation is expected to drop to 6.5-7% by March, thanks to the high food production and lower global commodity prices, the Survey has said.

Job market grows despite slowdown

The ongoing global crisis has not had much impact on the employment scenario in India and the country has been able to generate a considerable number of jobs over the last three years, said the Survey.

Growth must match work-force surge

India's biggest challenge will be to utilise its demographic dividend as the average age of an Indian by 2020 would be 29 years, the Survey has said. HT reports.

India's growth disappointing, but recovering: Mukherjee

Finance minister Pranab Mukherjee said the growth of the Indian economy estimated at 6.9% during this fiscal year was "disappointing" as he started presenting the budget in the Lok Sabha.

India targets 300 bln rupees from asset sales in 2012/13

The Indian government aims to raise 300 billion rupees ($5.96 billion) from selling stakes in state-run firms in the fiscal year that starts next month, finance minister Pranab Mukherjee told lawmakers on Friday in his budget speech.

India budget aims to trim subsidy burden

Finance minister Pranab Mukherjee set gross tax receipts in the fiscal year starting in April at 10.8 trillion ($214.35 billion), total expenditure at 14.9 trillion rupees and net market borrowing at 4.8 trillion rupees.

Defence budget hiked by more than 17 pc

With several defence deals including the one to procure 126 combat aircraft for the IAF expected to be clinched this year, the Defence Budget was today substantially hiked by more than 17% to Rs. 1,93,407 crore from last year's Rs. 1,64,415 crore.

Funds unused, Delhi gets a budget cut

The Delhi government's inability to utilise the budgetary allocation in 2011-12 fiscal has cost it dearly.

Bonanza for metro to help keep Phase III on track

The Rs. 2,216.69-crore allocation in the Union Budget has come as big relief for the cash-strapped Delhi Metro Rail Corporation (DMRC).

FM promises white paper on black money, but disclosures unlikely

Clearly stung by rising public outrage over corruption, the UPA government is set to unveil white paper on black money outlining the broad contours of policies to tackle the scourge and the measures that it plans to take.

Fiscal deficit still a cause for worry

Finance minister Pranab Mukherjee pegged the fiscal deficit for 2012-13 at 5.1% of the gross domestic product (GDP), lower than the current year's revised 5.9%, but economists said that government borrowings despite divestment of equity in state companies and spectrum sale are still in a worrisome zone.

Economy to gather pace

India's economic growth will gather speed over the next two years, finance minister Pranab Mukherjee said on Friday, but question marks loomed over the government's ability to push through reforms in critical areas to spur investments.
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