Economy

Govt, RBI on same page on monetary policy committee structure

RBI Governor Raghuram Rajan on Thursday said the government and the central bank have agreed on composition of the interest rate-setting monetary policy committee (MPC). “MPC agreement has been largely done. Only fine-tuning is left. The government and RBI are broadly on the same page on composition of MPC,” Rajan said. The government has proposed to set up MPC, which ... Read More »

Microsoft CEO Satya Nadella unleashes digital India plans

Microsoft CEO Satya Nadella on Thursday echoed the sentiments of Maharashtra Chief Minister Devendra Fadnavis by saying that company’s ambition was to empower the people. Speaking at the Microsoft Future Unleashed event, the India-born CEO said there will be more computing in our lives in the coming decade. “Computing will be everywhere, but what will be key is our mobility ... Read More »

Passing GST is a question of time, says Arun Jaitley at World Economic Forum

Finance Minister Arun Jaitley on Wednesday said that passing GST is a question of time and as and when it is put to vote he sees it going through. He was speaking at the World Economic Forum (WEF) hosted along with the Confederation of Indian Industry (CII). He further added that Goods and Services Tax (GST) bill when passed will ... Read More »

Solar tariff likely to touch historic low

Tariffs for solar power could fall to as low as Rs 4.80 per unit compared with the average bids of Rs 5.50-6 per unit in the lest few tenders, reports Sumit Jha in New Delhi. The latest bid is for NTPC tenders under the Jawaharlal Nehru National Solar Mission (JNNSM) — the other bids were those for projects run by ... Read More »

India beats US again, is world no. 1 in consumer confidence, says Nielsen

India continued to lead the global consumer confidence index in the third quarter with 131 points same as the previous quarter. It is followed by United States (119 points), Philippines (117) and Indonesia (116). Although more than 54 per cent polled said India’s economy is still in slowdown zone, its consumer confidence score remained intact at 131, said global information ... Read More »

Don’t let economy slip below 6.5 pct: China’s Xi Jinping tells officials

In the most unambiguous signal yet of a slowdown in China’s economy, President Xi Jinping today ordered officials to ensure that the GDP does not slip below 6.5 per cent, putting for the first time a minimum target for the world’s 2nd-largest economy to be “moderately prosperous.” China’s annual growth should be no less than 6.5 per cent in the ... Read More »

Commerce, finance ministry at odds over gold import duty

Commerce ministry has proposed cutting the import duty on gold to 2 per cent from 10 per cent, according to a government note, but a finance ministry official said it was unlikely to go through. Huge gold imports pushed India’s current account deficit to a record $190 billion in 2013, prompting the government to raise its duty on imports to 10 ... Read More »

Indian Railways top 10 FAQs; also check irctc.co.in, indianrail.gov.in

Indian Railways is a massive undertaking and people tend to get confused in trying to access the information they want. To help end the confusion and ensure every customer gets a top experience, Indian Railways has put in public sphere frequently asked questions (FAQs) and their answers to ensure a smooth journey for passengers each and every time. Here are ... Read More »

‘India’s nuke programme among largest in developing nations’

Stating that India has “one of the largest nuclear power programmes” among developing nations, a US-based think-tank has said by the end of 2014 India had enough weapon-grade plutonium to possess an estimated stock of atomic weapons in the range of 75-125. “An estimate of India’s nuclear arsenal can be derived by considering its weapon-grade plutonium stock. The resulting estimate ... Read More »

India set to oppose World Bank’s new conditions for project loans

India, one of the largest borrowers of the World Bank, will oppose the Bank’s new pre-conditions for project loans saying that the proposed Environmental and Social Standards (ESS) are “more regressive” with the potential of making World Bank-assisted projects “unviable”. “The proposed framework envisages several new and more stringent provisions. These provisions may be quite onerous and burdensome for the ... Read More »