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Waning popularity: PM Modi under fire as rising costs put squeeze on 'middle India'

Mar 23, 2016 at 05:30 | Source: FirstPost

Mumbai/New Delhi -Sharp rises in education and healthcare costs in the last two years have hit India's burgeoning middle class hard, denting Prime Minister Narendra Modi's popularity among the relatively well-off ahead of a series of state elections....

RBI may cut repo rate by 25-50 bps, but will it revive the stuck corporate loan demand?

Mar 22, 2016 at 15:06 | Source: FirstPost

The market is always abuzz with the news or expectations of a rate cut, to the extent that it has become a habit. Earlier there would be such expectations 8 times a year, which has reduced to 6 times now. Further, given that the RBI has also gone in ...

#EPFredux? Political, public outrage as NDA govt cuts PPF, NSS, saving scheme rates

Mar 19, 2016 at 11:17 | Source: FirstPost

New Delhi: In a decision that evoked immediate uproar by the salaried and self-employed class, the government on Friday slashed the interest rates on public provident fund (PPF) from 8.7 percent to 8.1 percent, soon after retracting the unpopular pro...

Interest rate cut on PPF, small savings schemes shocks India's salaried class, Twitter erupts

Mar 19, 2016 at 01:37 | Source: FirstPost

New Delhi: In a decision that evoked immediate uproar by the salaried and self-employed class, the government on Friday slashed the interest rates on public provident fund (PPF) from 8.7 percent to 8.1 percent, soon after retracting the unpopular pro...

Married kin cannot be denied accident compensation, rules Madras HC

Mar 18, 2016 at 14:49 | Source: FirstPost

Madurai: The Madras High Court on Fridayheld that excluding married daughters and siblings of those who succumb in motor accidents from claiming compensation for the death would be against the object of the Motor Vehicles Act.Dismissing an appeal fil...

Draghi tells EU leaders he can't fix the economy on his own| Reuters

Mar 18, 2016 at 01:30 | Source: FirstPost

BRUSSELS European Central Bank President Mario Draghi warned European leaders on Thursday that monetary policy alone would not be enough to jump-start the economy and that governments needed to do their job by pushing through structural reforms."...

Uphaar tragedy: Supreme Court assures victims' association of early open court hearing

Mar 17, 2016 at 14:35 | Source: FirstPost

New Delhi: The Supreme Court on Thursday assured the Association of Victims of Uphaar Tragedy (AVUT) that it will accord an early open court hearing of its plea seeking review of its 2015 verdict by which real estate barons Sushil and Gopal Ansal wer...

More cautious Fed now sees only two rate hikes this year| Reuters

Mar 17, 2016 at 02:15 | Source: FirstPost

WASHINGTON The Federal Reserve held interest rates steady on Wednesday and cut the expected pace of future monetary policy tightening as a weak global economy continued to weigh on policymakers despite ongoing U.S. growth and a healthy labour market....

Ukraine PM scrapes through crisis but uncertainty remains | Reuters

Mar 17, 2016 at 01:46 | Source: FirstPost

KIEV Ukrainian Prime Minister Arseny Yatseniuk has scraped through the biggest challenge to his leadership so far, lawmakers said on Wednesday, but still faces an uphill battle to achieve reforms that Western backers demand.The comments by several MP...

Euro rallies, stocks rise after dovish Fed statement| Reuters

Mar 17, 2016 at 01:30 | Source: FirstPost

NEW YORK Stocks in major markets rose on Wednesday, led by Wall Street, and the U.S. dollar weakened after the Federal Reserve held interest rates steady while lowering expectations for the number of rate hikes this year.The U.S. central bank noted t...

Sri Lanka's economic growth slows as tea exports reduces

Mar 15, 2016 at 19:25 | Source: FirstPost

Colombo: Sri Lanka's economic growth slowed slightly to 4.8 percent last year due to a fall in exports of its main commodity, tea, official figures showed on Tuesday.The figure marked only a marginal decline on 2014, but will add to concerns after in...

Mystery surrounding Netaji's death continues, documents suggest he may have survived plane crash

Mar 15, 2016 at 13:20 | Source: FirstPost

Netaji Subhash Chandra Bose will not be allowed to rest in peace anytime soon nor the mystery surrounding his death. According to The Times Of India, successive governments seem to have believed that Bose might not have died in the plane crash in Tai...

Souring mood, global headwinds keep Bank of Japan on edge as it debates policy| Reuters

Mar 15, 2016 at 03:15 | Source: FirstPost

TOKYO A souring consumer mood and global headwinds create an uncomfortable backdrop for Tuesday's policy meeting of the Bank of Japan, which prefers to stand pat after its shock January decision to adopt negative interest rates.Most market players ex...

Wall Street flat as investors pause ahead of Fed meeting| Reuters

Mar 14, 2016 at 23:15 | Source: FirstPost

Wall Street was little changed on Monday as losses in energy shares were offset by gains in consumer discretionary stocks and investors paused ahead of the U.S. Federal Reserve's meeting on monetary policy this week.U.S. crude fell more than 4 percen...

Maharashtra Council: Opposition, govt spar over farmer suicides in state

Mar 14, 2016 at 16:10 | Source: FirstPost

Mumbai: Maharashtra Legislative Council on Monday witnessed noisy scenes as Opposition parties questioned the government over monetary aid given to families of farmers who committed suicide and also slammed it for contending that the "sins"...

Wholesale inflation stays negative for 16th month, falls (-) 0.91% in February

Mar 14, 2016 at 12:59 | Source: FirstPost

New Delhi: WPI inflation remained in the negative zone for a 16th straight month at (-)0.91 per cent in February as food articles, mainly vegetables and pulses turned cheaper.The Wholesale Price Index-based inflation was (-)0.9 per cent in January. I...

February retail inflation seen easing to 5.6% vs 5.69% in January; raises rate cut hopes

Mar 14, 2016 at 08:33 | Source: FirstPost

India's retail inflation is expected to have eased in February helped by falls in prices of some food items, after edging up for six straight months, raising expectations of a central bank rate cut next month.Analysts say Raghuram Rajan, Governor of ...

IMF's Lagarde supports unconventional monetary policies if accompanied by reforms| Reuters

Mar 13, 2016 at 15:15 | Source: FirstPost

NEW DELHI The head of the International Monetary Fund said on Sunday countries should continue with unconventional monetary policies if they were accompanied by structural reforms and low inflation.Christine Lagarde's comments came a day after the Re...

Jaitley expects progress on GST bill in April-May| Reuters

Mar 13, 2016 at 14:15 | Source: FirstPost

NEW DELHI Finance Minister Arun Jaitley said on Sunday he expects lawmakers to make progress on a goods and services tax bill and a bankruptcy law in the second part of parliament's budget session that runs from April 25 to May 13.Jaitley said the go...

India's Jaitley expects progress on landmark tax bill in April-May| Reuters

Mar 13, 2016 at 13:45 | Source: FirstPost

NEW DELHI India's Finance Minister Arun Jaitley said on Sunday he expects lawmakers to make progress on a goods and services tax bill and a bankruptcy law in the second part of parliament's budget session that runs from April 25 to May 13.Jaitley sai...

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