India's January consumer price index rose an annual 6% under a new measure rolled out on Friday to better reflect inflation, at a time when the government is engaged in a firefight over soaring prices.
The government is likely to focus on infrastructure this budget as the Prime Minister has hinted at the possibility of a fund in that sector. Saumitra Chaudhuri, Member Planning Commission says that it the government is trying to catalyze the process for creating a fund for longer term assets.
With food inflation moderating for the second week in a row, Planning Commission Deputy Chairman Montek Singh Ahluwalia today forecast continuation of the declining trend.
The Reserve Bank of India (RBI) said on Thursday that all deposit taking non-banking financial companies (NBFCs) should maintain a minimum capital ratio consisting of Tier I and Tier II capital of 15% from March. 31, 2012.
Finance Minister Pranab Mukherjee today expressed optimism of food inflation coming down to single digit as the rate of price rise of essential kitchen items moderated significantly in the first week of February.
India's food inflation eased to a two-month low in early February on moderating prices of onions and other vegetables, amid expectations the government may announce fresh measures to boost productivity for key staples in the upcoming budget.
India's food price index rose 11.05% and the fuel price index climbed 11.92% in the year to February 5, government data on Thursday showed.
India's GDP growth is expected to slow down to 8.8% next fiscal (FY 12) from the impressive 9.2% projected for this fiscal (FY 11), a leading economic think-tank said.
Stressing that the government has not given up on reforms, Prime Minister Manmohan Singh today said more reforms will be unveiled in the 2011-12 Budget, but blamed the Opposition for delaying the introduction of crucial Bills in Parliament.
32 bills including the controversial Press and Registration of Books and Publications bill as also the Land Acquisition (Amendment) bill will be introduced in Parliament during the Budget session beginning February 21.
Worried over sudden spurt in prices of food items, Finance Minister Pranab Mukherjee today made a case for setting up a mechanism to take advance corrective measures to deal with such problems.
The government's fertiliser subsidy bill is likely to rise by about Rs 9,000 crore next fiscal as it has decided to absorb high global prices to provide farm nutrients at affordable prices and contain high food inflation.
In a meeting addressed to discuss inflation issues, India Finance Minister Pranab Mukherjee said that the fight against rising commodity prices would continue as the current decrease in the commodity prices is too small to be comfortable with.
The government will now cover up to half of the subsidy for state-run oil companies to sell fuels like kerosene below cost, oil minister S Jaipal Reddy said on Tuesday.
Finance Minister will soon give green signal to payment of 9.5% interest rate on provident fund deposits during 2010-11, a senior government official said today.
OP Bhatt, Chairman of the State Bank of India, in an exclusive interview to CNBC-TV18, says that the bank need to raise capital over medium-long term, however, it will only be post the budget allocations are announced.
Rising inflation worries home makers as well, besides the government! Housewives now want the Finance Minister to come to their rescue giving some relaxation in the costs of goods and services. They find themselves bruised by the escalated monthly family budget due to increasing inflation.
India, struggling to balance between cutting its costly fuel subsidies and curbing inflation, may tweak fuel taxes in the February 28 budget to cushion the blow of rising global crude prices on state-run oil retailers.
Prof Daniel Fischer, senior partner in Swiss law firm Fischer & Partners, in an interview with CNBC-TV18's Menaka Doshi suggested that India should take the amnesty route in order to recover Indian black money from Swiss accounts.
It is an irony that businesses are seeking fiscal incentives and also asking finance minister Pranab Mukherjee to rein in inflationary pressures. The government needs to balance the budget without hurting growth. Here is a summary of incentives demanded by various groups as reported in various section of the press.
In an interview with CNBC TV-18, Dr. Kirit Parikh, Dr. Abhijit Sen, Dr. M Govind Rao gave their views on what should be the economy policy issues that should underpin the forthcoming budget.
With the D-day for Budget 2011-12 just around the corner, demands to expand the limits for income tax exemptions are increasing.
In an interview with CNBC-TV18, Director General of FICCI Rajiv Kumar spoke about his expectations from the government on the implementation of the Bill.
For the middle class person the wish list would encompass anything that would tame the demon of inflation or leave more in the hands of the person to deal with the demon of inflation.
Encouraged by moderation in inflation in January, the Planning Commission today forecast continuation of the trend in the coming month due to decline in the cost of onion and other vegetables.