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Economy

US doubts India’s 7.5% growth, wants reforms to match rhetoric

Washington, July 6 (IANS) Doubting India’s claim of a 7.5 per cent growth, the economic diplomacy arm of the US State Department has said that the Indian government must pursue reforms to match the rhetoric even as key bills struggle to get past parliament. “Ostensibly, India is one of the fastest growing countries in the Full Article

Brexit drags rupee lower, RBI arrests steep fall

Mumbai, June 24 (IANS) Britain’s decision to opt out of the European Union (Brexit) exerted pressure on the rupee, even as a likely intervention by the country’s central bank tried ...Full Article

Cabinet clears norms for largest telecom spectrum auction

New Delhi, June 22 (IANS) India’s cabinet on Wednesday cleared the base price for the country’s largest spectrum auction to date, expected to fetch around $85 billion at the approved ...Full Article

Government should infuse capital to enable banks to lend more: Rajan

Bengaluru, June 22 (IANS) The government should infuse capital in state-run banks to enable them to support credit growth, Reserve Bank of India (RBI) Governor Raghuram Rajan said on Wednesday. ...Full Article

India eases foreign equity norms for defence, aviation, retail

New Delhi, June 20 (IANS) Putting its economic liberalisation agenda on the fast track, India on Monday relaxed its foreign equity norms further, notably in defence, aviation, pharmaceuticals and retailing, ...Full Article

Nod to merger of six banks with SBI, SBI chief says ‘win-win’ for all

New Delhi/Chennai, June 15 (IANS) With the government on Wednesday giving its in-principle approval to the mega merger proposal in the banking sector – the merger of six banks with ...Full Article

Food prices also push up India’s wholesale inflation

New Delhi, June 14 (IANS) With potatoes 60 per cent dearer in bulk markets and pulses costlier by 36 per cent over the past year, India’s annual wholesale inflation rose ...Full Article

India likely to grow at 8% in 2016-17: FinMin

New Delhi, June 1 (IANS) With a boost from a likely good monsoon this year along with effective policy-making, the Indian economy is likely to grow at eight per ...Full Article

India’s growth at 7.6% in 2015-16 fastest in five years

New Delhi, May 31 (IANS) The Indian economy expanded by 7.6 per cent in 2015-16 to log the fastest growth among larger countries, while also outpacing China, official data ...Full Article

Tata Steel pension chief backs controversial cuts despite warnings

London, May 26 (IANS) The trustees of the pension scheme behind Tata Steel have backed the UK government’s plan to restructure its benefits, despite warnings that such a move ...Full Article