The Department of Industrial Policy and Promotion (DIPP) today released the latest edition of consolidated FDI policy incorporating the changes made in the regulations over the past one year.
India is watching the external developments of recent weeks and its impact on the economy, Chief Economic Advisor Raghuram G. Rajan said today even as he expressed optimism of the economy growing by over 6 percent during the current fiscal.
The Direct Benefits Transfer (DBT) subsidy scheme is being extended to 78 more districts in July even as Prime Minister Manmohan Singh today acknowledged that it has "run into difficulties" and that efforts must be made to ensure the programme does not fail.
After two consecutive weeks of increase, the country's foreign exchange reserves fell by USD 720.3 million to USD 292.65 billion on a slip in the core currency assets, the Reserve Bank said today.
India can grow by 6.5 percent in the current fiscal during which big projects are likely to get clearances from CCI, Planning Commission Deputy Chairman Montek Singh Ahluwalia said today.
Increasing the insurance cap by India is virtually a "must" for inking of the long-pending India-European Union FTA, which has seen 15 rounds of negotiations since its launch in 2007.
Prime Minister Manmohan Singh today reviewed the progress of the UPA's showpiece electoral weapon - the Direct Benefit Transfer scheme.
The Reserve Bank is likely to switch focus to supporting growth from fighting inflation and is likely to go for 0.75 per cent rate cut in the current fiscal, Bank of America Merrill Lynch said in a report.
The Centre today said the bonds to be issued by states, backed by it under the debt recast plan for power distribution utilities, will attract about 0.5 per cent premium over the issue price, yet to be determined.
Anyone who labels a decision to double the subsidy bill as reform ought to have his head examined. However, the cabinet decision to â€œfreeâ€ sugar pricing has been dubbed a reform by an ecstatic pink press even though the resultant subsidy burden rises from Rs 2,600 crore to Rs 5,300 crore.
Miner Coal India could halt eastern region supplies to the country's largest power producer by the end of April, as a row over quality between the two state-run giants escalated, raising fears of mass blackouts.
Pursuing good economic practices is not always easy politically, but anyone who thinks it is impossible may be "damming the country", Planning Commission Deputy Montek Singh Ahluwalia said today.
The Reserve Bank will come out with a discussion paper within 15 days on redefining Foreign Direct Investment (FDI) and portfolio investment (FII) so as to remove ambiguities.
Reserve Bank Governor D Subbarao has said that price stability was necessary for ensuring sustainable growth in the long term as it helps investors and consumers to take informed decisions.
Bankers today sought from RBI 0.5 percent cut in their cash reserve requirement to tide over tight liquidity situation, and to help stem slide in investments.
C Rangarajan, chairman, PMEAC, believes the government will now have to decide how it intends to compensate the subsidy burden it will face after the sugar sector decontrol.
It was a Rahul Gandhi show today at the CII, as he made his debut in front of the who's who of India Inc. It was a speech brimming with idealism as he laid out his broad vision of what he thinks will be the future of India, but he did not give any concrete suggestions or an action plan to revive the economy.
The government today gave sugar mills freedom to sell in the open market and unshackled them from the obligation of supplying the sweetener at subsidised rates for ration shop- a decision that will help the industry save about Rs 3,000 crore annually.
The Cabinet Committee on Economic Affairs cleared partial de-control of sugar by abolishing the requirement for private sugar mills to sell a specified amount of sugar to the government at concessional rates.
In what could be seen as a significant concession to the powerful sugar lobby, the government on Thursday cleared the decontrol of the product. The move will likely raise the sugar prices as decontrol means that the manufacturers of the product will now get to decide on the prices without government intervention.
Observing that employees have no vested right to question the policy of employer to reorganise or hive-off workers, the Bombay High Court has dismissed petitions challenging Air-India's decision to transfer engineering workers to a subsidiary company of the airline.
The government has the target to enrol about 60 crore people by the end of 2014 under the Unique Identification Authority of India (UIDAI) enabled Aadhaar cards, its chairman Nandan Nilekani said on Thursday.
The government is likely to issue the first set of the inflation-indexed bonds this month, government sources told Reuters on Thursday.
India's fiscal deficit is expected to be at around 5 percent of gross domestic product, lower than the downward revised estimate of 5.2 percent for the 2012/13 fiscal year that ended in March, two government sources said on Thursday.
Indian banks' credit to industry slowed in the month of February compared with the previous month as well as from the previous year, data from the Reserve Bank of India (RBI) showed on Thursday.