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No cuts in funds allocated to MGNREGA, promises FM Arun Jaitley

Feb 02, 2016 at 15:24 | Source: FirstPost

New Delhi: The BJP-led government has boosted spending under the UPA's flagship rural jobs scheme MGNREGA to a record high and will for the first time ever provide funds over and above the budgeted amount, Finance Minister Arun Jaitley said on Tuesda...

Food imports rise as Modi struggles to revive rural India

Feb 02, 2016 at 09:23 | Source: FirstPost

Prime Minister Narendra Modi held a late night meeting with food and farm officials last week to address falling agricultural output and rising prices, and traders warn the country will soon be a net buyer of some key commodities for the first time i...

Factbox: India switching to large-scale food imports| Reuters

Feb 02, 2016 at 08:30 | Source: FirstPost

NEW DELHI Two consecutive droughts and untimely rains last year have cut India's farm output, pushing many farmers to destitution. Lower prices in local markets and a rout in global commodities have aggravated their woes.As a result, India has resume...

Euro zone factory growth slows at start of 2016, PMI shows| Reuters

Feb 02, 2016 at 03:15 | Source: FirstPost

Factory growth across the euro zone slowed at the start of 2016 as incoming orders failed to show any meaningful increase, even though companies cut prices at the deepest rate for a year, a survey showed on Monday.Markit's Purchasing Managers' Index ...

Gold claws its way higher on weak factory data in China, Europe| Reuters

Feb 02, 2016 at 00:30 | Source: FirstPost

LONDON Gold edged higher on Monday, extending its recent rally on worries about global economic growth and hopes for easier monetary policy after weak factory data in Asia and Europe.China's official measure of manufacturing in January fell to the lo...

China's January manufacturing activity drops to over three year low as overcapacity situation continues

Feb 01, 2016 at 13:31 | Source: FirstPost

China's manufacturing activity contracted at its fastest pace in almost three-and-a-half years in January, an official survey showed, suggesting the world's second largest economy is off to a weak start in 2016 and adding to the case for near-term st...

Budget 2016: Jaitley against 'sheer popuism', pitches for reforms

Jan 30, 2016 at 20:13 | Source: FirstPost

New Delhi: Making a case for 8-9 percent growth rate, Finance Minister Arun Jaitley on Saturday indicated that his upcoming Budget will not resort to "sheer populism" for good ratings and will focus on structural reforms.He also expressed h...

Don't change goalposts at first sign of crisis: RBI governor Rajan warns on overspending during global turmoil

Jan 30, 2016 at 09:15 | Source: FirstPost

New Delhi: Ahead of the Budget, RBI Governor Raghuram Rajan on Friday warned against generating economic growth through additional debt saying that any deviation from the fiscal consolidation path will hurt stability of the economy.Rajan said that ma...

Sensex posts first weekly gain in four | Reuters

Jan 30, 2016 at 05:45 | Source: FirstPost

MUMBAI Indian stocks rose nearly 2 percent on Friday, posting their first weekly gain in four, as a rebound in commodity prices and Bank of Japan's bold move to adopt negative interest rates ended a tough month for markets with a flourish.The Nifty ....

Oil to average just over $40 in 2016, biggest cut to forecasts in a year: poll| Reuters

Jan 30, 2016 at 04:45 | Source: FirstPost

Oil prices will average just over $40 this year, the biggest cut to monthly forecasts in a year, as an influx of Iranian barrels hits an already-saturated world market, a Reuters poll showed on Friday.The survey of 29 economists and analysts forecast...

Oil to average just over $40 in 2016, biggest cut to forecasts in a year: Reuters poll| Reuters

Jan 30, 2016 at 01:30 | Source: FirstPost

Oil prices will average just over $40 this year, the biggest cut to monthly forecasts in a year, as an influx of Iranian barrels hits an already-saturated world market, a Reuters poll showed on Friday.The survey of 29 economists and analysts forecast...

Don't change goalposts at the first sign of crisis: RBI governor Rajan warns against debt financing in global turmoil

Jan 30, 2016 at 00:23 | Source: FirstPost

New Delhi: Ahead of the Budget, RBI Governor Raghuram Rajan on Friday warned against generating economic growth through additional debt saying that any deviation from the fiscal consolidation path will hurt stability of the economy.Rajan said that ma...

Don't change goalposts at the first sign of crisis: RBI governor Rajan warns against overspending during global turmoil

Jan 30, 2016 at 00:23 | Source: FirstPost

New Delhi: Ahead of the Budget, RBI Governor Raghuram Rajan on Friday warned against generating economic growth through additional debt saying that any deviation from the fiscal consolidation path will hurt stability of the economy.Rajan said that ma...

JSW Steel reports Q3 loss; lowers output, sales target | Reuters

Jan 30, 2016 at 00:15 | Source: FirstPost

MUMBAI JSW Steel Ltd said on Friday that its output and sales for the fiscal year to March will fall short of its target due to a delay in capacity addition, as it reported a $136 million quarterly loss.Steelmakers globally have been hit by weak pric...

Avalanche warning issued for four Jammu and Kashmir districts

Jan 29, 2016 at 21:42 | Source: FirstPost

New Delhi: An avalanche warning for Jammu and Kashmir has been issued by the Centre and people inseveral districts of the state have been asked not to venture out tonight and on Saturday.The avalanche warning has been issued for 24 hours beginning 5p...

Foreign investors eye India's cheap stocks after big global sell off

Jan 29, 2016 at 17:15 | Source: FirstPost

New York: Mark Twain once said, in response to a mistaken publication of his obituary that reports of my death are premature and greatly exaggerated. The same could be said of the Indian stock market which opened up 1.10 percent on Friday morning and...

Why Raghuram Rajan doesnt trust Indias GDP numbers

Jan 29, 2016 at 11:40 | Source: FirstPost

Every other economist you talk to would caution you to take Indias GDP (gross domestic product) numbers with a pinch of salt. That has been so for a year since the Narendra Modi government introduced new measure to count the GDP (based on Gross Value...

Isn't it time we stopped thumping our chests for being "fastest-growing economy"? We are not

Jan 29, 2016 at 11:07 | Source: FirstPost

You can trust Raghuram Rajan, the Reserve Bank Governor, to prick any balloon of excess optimism when required. Even as the idea of India being the fastest-growing major economy in the world gets bandied about carelessly, especially by politicians wh...

Yen on the defensive before BOJ, dollar nurses losses| Reuters

Jan 29, 2016 at 06:15 | Source: FirstPost

SYDNEY The yen stayed on the defensive early on Friday as the market waited to see if the Bank of Japan would ease policy, while the dollar languished at two-week lows in the face of disappointing U.S. economic data. New orders for long-lasting U.S. ...

Investors chase gold bonds in falling stock market| Reuters

Jan 29, 2016 at 01:30 | Source: FirstPost

MUMBAI The second tranche of India's sovereign gold bond received a better response than the first, a government official said, as a price discount and its safe haven appeal amid a slide in equities attracted investors.The world's second biggest gold...

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