Speaking to reporters after Prime Minister Narendra Modi reviewed various departments of the finance ministry, finance minister Arun Jaitley said the government is confident of surpassing the 7.2-7.5% GDP growth rate. read more
On malfeasance and corruption in the NPA problem, former RBI governor Raghuram Rajan said: “Undoubtedly, there was some, but it is hard to tell banker exuberance, incompetence, and corruption apart.” read more
A scrap dealer searches for useful material at a weaving factory that was shut a year ago, in Panipat, Haryana. India launched the Goods and Services Tax (GST) just over a year ago, its biggest ever tax reform, aiming to replace more than a dozen federal and state levies and unify the sprawling economy.
The Indian rupee’s unabated fall continued for the sixth straight session on Wednesday, hitting yet another closing low of 71.75, down 17 paise against the US currency as surging oil prices and weak trend in emerging market currencies weighed on sen... read more
The sliding rupee and expectations of a faster-than-anticipated pace of monetary tightening by the US Fed saw more than $3 billion of foreign portfolio investments moving out in the April-June period. read more