Economy News

Reliance Defence forms JV with Rafael to make air defence systems

Reliance Defence will own 51% stake in the joint venture and the rest will be held by Rafael.

Mar 30, 2016

India's economic growth to slow down in FY2016, says ADB

The Manila-based Asian Development Bank has pegged India's growth at 7.4 percent for FY2016, down from 7.6 percent in the previous fiscal.

Mar 30, 2016

Finance Minister Arun Jaitley wants Australian superannuation funds to invest in India

The Australian superannuation industry is worth AUD $2 trillion, according to Sydney Morning Herald.

Mar 30, 2016

5 Indian states contributed 69% to exports in FY15: Assocham

Maharashtra was ranked the best performing state for shipping goods worth $72.84 billion during 2014-15.

Mar 30, 2016

Pharma stocks drag Sensex down; Lupin down 6% on USFDA's inspection of facility

Lupin plunged 13 percent to a new 52-week low Tuesday after it acknowledged audit observations by the US FDA for its Goa facility.

Mar 29, 2016

India allows 100% FDI in e-commerce under marketplace format

In the marketplace model, an e-commerce company provides a platform to facilitate trade between buyers and sellers.

Mar 29, 2016

Ban on cattle sale for slaughter worsens farmers' plight

The ban on the sale of cattle has added to rural distress in Maharashtra which is suffering from two consecutive droughts.

Mar 29, 2016

Govt to pay interest on inoperative PF accounts from April 1

There are about nine crore inoperative provident fund accounts holding about Rs 30,000 crore.

Mar 29, 2016

Telecom Commission approves policy for Virtual Network Operators

The move can lead to mushrooming of small vendors, while helping foreign telcos to venture into Indian markets.

Mar 29, 2016

Finance Minister Arun Jaitley joins rate cut chorus

The country's apex bank should cut interest rate, Jaitley responded when asked on his expectations from the RBI.

Mar 29, 2016

Good policy, not good fortune behind India's economic growth: PM Modi

Indian PM Narendra Modi says the country's low inflation, low current account deficit and and high growth rate are the result of sound economic policies.

Mar 29, 2016

AAP Govt presents Rs 46,600 crore Delhi Budget for 2016-17; highlights

Of the total budget expenditure for the current year, the AAP government aims to earn Rs 36,500 crore through collection of taxes.

Mar 29, 2016

India to double coal output by 2020, even without private participation

India's power and coal minister Piyush Goyal says state-owned companies would ramp up production in the absence of private participation.

Mar 28, 2016

Govt unveils National Business Register to strengthen industry database

The Business Register would offer details on every business entity, its activity, type of ownership, number of workers and PAN/TAN.

Mar 28, 2016

Top Indian IT firms eye $100 billion IT outsourcing contracts

TCS, Infosys and other Indian IT firms are gearing up for outsourcing contracts worth $100 billion, up for renewal next fiscal, says ET.

Mar 28, 2016