Economy News - Page 8
India extends sugar export by another year
The decision will be effective when the government issues a formal order. India will soon take a decision on the recommendation made by an expert panel over lifting curbs on the sugar industry, Thomas added.
Maharashtra petrol pumps to run only 9-5 from today
Toughening their stance on enhanced commission, petrol dealers across Maharashtra started a 'single shift' operation, affecting lakhs of fuel-starved vehicle owners.
India confident of getting IMF quota reforms done by Jan 2013
The quota reforms of the International Fund (IMF) to give greater say to the developing countries in the working of the multi-lateral lending institution is likely to be completed by January 2013, said Indian Finance Minister P Chidambaram.
Global liquidity infusion may fuel commodity prices: FM
India today said huge liquidity infusion by the US and Europe into the financial system could result in increased investments into developing countries though there are concerns these might also fuel commodity prices.
Reforms necessary if India wants to be competitive : IIF
Institute of International Finance has said opening up of more sectors to FDI is timely and necessary as India needs to address the issues of inefficiencies and protectionism.
Coal India to double production in Chhattisgarh by 2017
State-run Coal India has said it plans to double its production capacity in Chhattisgarh to 220 million tonnes by 2017.
Govt plans 'smart cities' under urban renewal mission
Government is planning to develop two "smart" cities with a host of modern features like intelligent transport and carbon neutral status in each of the states in the second phase of the Jawaharlal Nehru National Urban Renewal mission.
Cylinder cap to boost sales of modern appliances
The union government's decision to cap the number of subsidised cooking gas cylinders per household is likely to push a switchover in kitchens to alternate appliances like induction cookers and microwave ovens, industry experts say.
Oil near $92 after US manufacturing improves
Analysts at Capital Economics said in a market commentary that the boost in oil prices following the Federal Reserve's announcement of a third round of bond buying to help boost the U.S. economy was starting to wane.
Govt trying to seek consensus on GST: Rawat
Referring to recent steps taken by the government to boost the economy, he said the country needs to take more such measures.
Rupee nears 5-month high on fiscal hopes, global risk sentiment
While the market was expecting the government to stick to its borrowing plan for now, a Reuters poll showed economists expecting 500 billion rupees of extra bond sales.
FM to review Income Tax dept's appeal-filing mechanism
Finance Minister P Chidambaram is likely to review the entire appeal-filing mechanism of the Income Tax department in view of concerns expressed by the Supreme Court recently over delays in revenue cases.
Finmin, RBI to discuss govt's borrowing plan
The government is scheduled to borrow Rs 2 lakh crore during October-March as part of Rs 5.7 lakh crore to be raised for the whole year ending in March 2013.
India, US officials meet to increase collaboration in energy sharing
Top officials from India and the US are holding a series of meetings here to strengthen collaboration in the energy sector with special focus on mobilising clean and affordable sources for their requirements.
India-Asean partnership, a win-win situation for both sides
India's growing partnership with ASEAN is a win-win situation for both sides which together constitute about 1.8 billion people along with a booming market, India's Ambassador to Thailand Anil Wadhwa said.
Goa govt to shut down mines polluting Selaulim reservoir
Goa government has finally resolved to shut down the mines pouring manganese and iron ore in the Selaulim reservoir, the source of potable water for 55 percent of the state population.
IMG recommends cancellation of four coal mines alloted to private firms
The Inter-Ministerial Group (IMG) on coal blocks allocation has recommended de-allocation of four mines alloted to private firms and encashment of bank guarantee of three others on the ground of non-development of mines within a prescribed time.
Without Bt crops, India missing on development: expert
India had imposed a moratorium of an unspecified period, in 2009 on commercial release of Bt brinjal on health grounds.
Uttar Pradesh hikes VAT by 0.5%; ACs, mobiles get costlier
The decision was taken at the Cabinet meeting on Tuesday and would be applicable after issuance of the notification today, an official said.
Germany should support common banking union: Deutsche Bank
Deutsche Bank co-chief executive Fitschen's criticism was aimed at smaller German savings and cooperative banks which have argued they should not fall under the umbrella of a European supervisor
Build strong agri-linkages: govt to private firms
The Union agriculture secretary Bahuguna recommended private companies to roll out a model in states and demonstrate its efficacy.
Entrepreneurship will improve credit-deposit ratio in NE: RBI
The Reserve Bank of India said low credit-deposit ratio in the Northeast is due to the lack of entrepreneurship among people of the region even as it recommends alternate banking models to push for financial inclusion.
Will take steps to bridge trade deficit with China: Sharma
Worried over widening trade deficit with China, India said it will take steps to bridge the imbalance with the neighbouring country.
Maoists push farmers in Chhattisgarh to grow marijuana
Chhattisgarh's restive Bastar region is fast turning into a hotspot for growing marijuana with Maoist guerrillas making farmers switch to the cash crop, say police officials.
Goa to implement IT system to avoid illegal mining
Plagued with rampant illegal mining, the Goa government has decided to implement an information technology-based system to prevent its valuable resource being exported illegally and evading royalty.
China to help ease decay of North Korea economy
China on Tuesday promised to help major firms invest in impoverished neighbour North Korea, signalling strong support for the North's untried young leader just as he is believed to be planning reforms to his country's broken economy.
Govt asks PSU banks to ensure one account per family
Under Swabhimaan scheme of the government, over 3.25 crore bank accounts in rural areas were opened.
RBI sells $2.2 bn in April-June quarter
The central bank also purchased $778 million dollars in May and $650 in June, RBI data said.<br /><br />
Offical GAAR report only by Sep, says panel chief
Introduction of GAAR, proposed in the 2012-13 Budget to check tax evasion, had triggered strong opposition by foreign investors following which its implementation was postponed