Economy

Census data says only 4.5 per cent Indians are graduates

Only 4.5 per cent of the population in the country is educated up to graduation or above while a majority of 32.6 per cent of the population has not even studied till primary school. According to the census data for 2011 on literacy of workers and educational levels, released by the Registrar General and Census Commissioner of India, the literate ... Read More »

Trucks entering Delhi to pay green tax from November 7

After six days of refusal and bargaining on financial terms, the concessionaire employed by South Delhi Municipal Corporation (SDMC) finally agreed to levy a new ‘green tax ‘ on trucks coming into Delhi. SMYR Consortium LLP, which collects toll at all 127 entry points into the city, agreed to charge the additional ‘Environment Compensation Charge’ (ECC) from Friday night itself. ... Read More »

Bringing down inflation would help stabilise rupee, says Raghuram Rajan

The Reserve Bank of India Governor Raghuram Rajan said on Friday bringing down inflation would help stabilise the rupee, while adding that he welcomed government efforts to boost economic growth through structural reforms. “Sustained rupee rate can be achieved by bringing down inflation, ” Rajan said during an appearance with industrialists in New Delhi. The RBI had delivered a larger-than-expected ... Read More »

Railways to formulate plan to save Rs 5,000 crore on energy bill

Railways will formulate a comprehensive energy efficiency plan to reduce energy bill by Rs 5000 crore in the next five years. “Energy bill is the second largest in railways after salary and pension. So we have to use the energy in a such a way so as to optimise the cost,” Railway Minister Suresh Prabhu said in New Delhi on ... Read More »

FM Arun Jaitley says higher growth best antidote to poverty

Making a case for stepping up growth momentum, Finance Minister Arun Jaitley said on Friday the country is pushing for higher growth, which is the best antidote to poverty. Observing that the global economy is under stress, Jaitley said although India can take some satisfaction from its own high growth, it has potential to grow at a higher pace. “We ... Read More »

Rupee ends marginally down vs dollar, trades at 65.76

The rupee ended marginally down against the American currency at 65.76 per dollar on some dollar demand frombanks and importers despite steady dollar in the overseas market. Earlier, the rupee opened lower at 65.80 as against Thursday’s level of 65.75 at the Interbank Foreign Exchange (Forex) market and dropped further to 65.84 per dollar on initial dollar demand from banks. ... Read More »

Iconic acts sway sentiments; we must calm down: Raghuram Rajan

As the issue of ‘intolerance’ continues to dominate the national debate, RBI Governor Raghuram Rajan on Thursday said India has been known for its “legacy of tolerance and openness” and it was necessary to preserve what is vital for this country. Days after stating that tolerance and mutual respect were necessary to improve the environment for ideas and physical harm ... Read More »

After food products, now food testing labs are in the soup

As many as 24 food testing laboratories across India are running without notification with the Food Safety and Standards Authority of India (FSSAI) under the Union Health Ministry. Interestingly, 14 of these laboratories have enjoyed grant-in aid from the Ministry of Food Processing Industries for their establishment and upgradation, but yet not managed to obtain the mandatory National Accreditation Board ... Read More »

RBI comfortable with existing interest rates: RBI Governor Raghuram Rajan

RBI Governor Raghuram Rajan on Thursday said the central bank is comfortable with the current level of policy rates till more room builds up, even as the government expressed hope for further cuts. “What we said in our monetary policy statement is that we essentially looked at all the room we had and we have taken full advantage,” Rajan said. ... Read More »

PM Narendra Modi for indigenous manufacturing to cut defence budget by 50 per cent

Noting that India imports defence equipment in large quantity, Prime Minister Narendra Modi  emphasised on indigenousmanufacturing to help slash the defence budget by 50 per cent within a decade. Addressing an event in New Delhi, Modi also stressed on developing “local” technology to help people deal with daily challenges as well as the need to provide a proper environment and ... Read More »