A day after Left veteran Gurudas Dasgupta shot his third letter to Prime Minister Manmohan Singh seeking oil minister Veerappa Moily's removal, the minister hit back accusing Dasgupta of acting upon vested interest to derail key policy decisions.
HT reports.
EU antitrust regulators fined nine drugmakers a total of 146 million euros today for blocking the supply of cheaper medicines on the market, with a penalty of 94 million euros imposed on Denmark's Lundbeck.
In troubled waters: With the Centre and states still stuck on the revenue-sharing formula, Goods and Services Tax regime will have to clear many more hurdles before it becomes a reality, reports Gaurav Choudhury.
The government is readying a slew of measures, which includes allowing upto 100% foreign direct investment (FDI) in the telecommunication sector and opening the defence production sector to 49% FDI, from the current limit of 26%.
Gaurav Choudhury reports.
Why are your EMIs not falling despite a cut of 1.25 percentage points in the policy rates by the Reserve Bank of India in the past 12 months?
Finance minister P Chidambaram today favoured easing of caps on foreign direct investment (FDI) in some sectors amid indications that the government was readying a series of measures to attract foreign investment and dollar inflows into India.
The Finance Ministry has floated a draft Cabinet note for 10% stake sale in Coal India through the Offer For Sale (OFS) route, which could fetch around
Rs. 20,000 crore to the exchequer.
The Indian economy is in a crisis with growth slowing down, fiscal and current account deficits running high amid persistent inflation, says a study by an economic think tank.
India’s wholesale price index (WPI)-based inflation rate dipped to 4.7% in May, stoking demand for an interest rate cut by RBI on Monday amid speculation that a normal monsoon and good harvest would bring down prices further.
Reeling under severe energy shortages, Pakistan is keen to import 500 to 1000 MW of electricity from India. A top government official seeking anonymity said New Delhi is willing to help.
HT reports.
India’s wholesale prices-based inflation rate fell to 4.7% in May — the lowest in more than three years — triggering demand for an interest rate cut by the Reserve Bank of India.
The WPI-based inflation fell to 4.7% in May, driven mainly by declining prices of manufactured items, even as prices of food articles inched up.
The World Bank on Thursday forecast a growth rate of 6.7% for India within the next two fiscals with exports and private investment projected to strengthen and provide a boost to growth.
Global rating agency Fitch today revised its outlook on Issuer Default Ratings of seven state-owned firms, including GAIL, IOC and NTPC, to stable from negative.
The Reserve Bank of India is likely to go for a 0.25% cut in cash reserve ratio (CRR) instead of interest rates next week as this move is likely to balance growth and rupee concerns, Bank of America Merrill Lynch said today.