No cuts in funds allocated to MGNREGA, promises FM Arun Jaitley
Feb 02, 2016 at 15:24 | Source:
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:
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:
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:
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:
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...
Budget 2016: Jaitley against 'sheer popuism', pitches for reforms
Jan 30, 2016 at 20:13 | Source:
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...
Sensex posts first weekly gain in four | Reuters
Jan 30, 2016 at 05:45 | Source:
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 ....
JSW Steel reports Q3 loss; lowers output, sales target | Reuters
Jan 30, 2016 at 00:15 | Source:
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:
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:
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:
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...
Yen on the defensive before BOJ, dollar nurses losses| Reuters
Jan 29, 2016 at 06:15 | Source:
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:
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...