Economy

India becomes world’s 7th most valued ‘nation brand’

India has moved up one position to become the world’s seventh most valued ‘nation brand’, with an increase of 32 per cent in its brand value to $2.1 billion. The US remains on the top with a valuation of $19.7 billion, followed by China and Germany at the second and the third positions respectively, as per the annual report on ... Read More »

Ranking should have been significantly higher in WB index, says FM Arun Jaitley

Not fully satisfied with 12 position jump in India’s ranking on ease of doing business index, Finance Minister Arun Jaitley on Sunday said the World Bank has not factored in all the steps taken by the government to improve business environment and ranking should have been “significantly higher”. In the same breath, he also stated that there was a need ... Read More »

Petrol price cut by 50 paise a litre

The retail price of petrol was cut marginally by Rs 0.50 a litre on Saturday, effective midnight, as part of the fortnightly price revision by oil marketing companies. “The current level of international product prices and INR-USD exchange rate warrant a price decrease, which is being passed on to consumers with this price revision,” Indian Oil (IOC) said in a ... Read More »

At 68%, fiscal deficit reveals strains to budget plans

Country’s fiscal deficit has reached 68 per cent of its full-year target at the halfway stage, revealing strains to Finance Minister Arun Jaitley ‘s budget as revenues from asset sales again fall short. Even though falling oil subsidy costs and curbs on spending should help Jaitley hit his borrowing target, he warned this week that it would be a challenge ... Read More »

India on right track but long way to go, says Nomura

India’s improvement in the ease of doing business ranking is a reflection of the series of small steps announced by the government but there is still a long way to go, says a Nomura report. According to the Japanese brokerage firm, India is on the right track, but has a long road ahead. Out of 189 countries ranked by the ... Read More »

Control party members or risk losing credibility: Moody’s to PM Narendra Modi

Against the backdrop of controversies like on beef, Moody’s Analytics on Friday cautioned Prime Minister Narendra Modi that the country may lose domestic and global credibility if he doesn’t rein in the members of his party. In a report titled “India Outlook: Searching for Potential”, Moody’s Analytics said for the country to reach its growth potential it has to deliver ... Read More »

Rupee bounces back by four paise, closes at 65.27

After a brief pause, the rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of dollars by banks and exporters on the back of lower dollar in the overseas market. The rupee resumed higher at 65.26 per dollar as against the last closing level of 65.31 per dollar at the Interbank Foreign Exchange (Forex) ... Read More »

MCD sanitation workers continue strike, may face action

All the efforts by the East Delhi municipal corporation to end the strike by its sanitation workers seem to be going in vain. As the strike still continues, garbage has been piling up on the streets and is proving to be a major hassle for residents. Though the Delhi High Court (HC) has asked the three municipal corporations to ensure ... Read More »

India not immune to global demand slowdown, says World Bank

Though the World Bank in its latest India Development Update has maintained the country’s GDP growth estimate at 7.5 per cent for the current financial year, it has sounded cautious about the country’s growth prospects in the medium term given “slowdown in global demand and heightened volatility”. According to World Bank, “While the growth will likely remain above 7 per ... Read More »

India to see average growth of 8.8% in next decade: D&B

3 India’s economic landscape is expected to undergo a major transformation over the next decade and is likely to achieve an average growth rate of around 8.8 per cent, a Dun & Bradstreet report says. According to the report, this increase in growth rate would culminate into high per capita income over the years. “We believe India has the potential ... Read More »