Economy News

Indian Economy To Grow at 6.9% For 2012: World Bank

The Indian economy is set to grow 6.9 percent in the current financial year as projected by the World Bank on Wednesday.

Jun 13, 2012

India, Canada Sign MoU on Road Transportation and Infrastructure Development

India and Canada have signed a Memorandum of Understanding (MoU) on Infrastructure Development, Operation & Maintenance of Roads during the visit of Dr. C.P. Joshi, the Union Minister for Road Transport and Highways, to Canada.

Jun 12, 2012

India Invites Brazil to Invest in Infrastructure Sector and Joint Production of Essential Drugs

India's Minister of Commerce, Anand Sharma, invited Brazilian investment in the recently launched National Infrastructure and Manufacturing Special Economic Zone (SEZ) as well as in the food processing industries at a meeting with the Brazilian Minister of Development, Industry and Foreign Trade, Fernando Pimentel, in Brasilia on June 11.

Jun 12, 2012

Pranab Mukherjee Dimisses S&P's Warning; Assures Strong Turnaround in Economic Growth

India's Finance Minister Pranab Mukherjee on Monday voiced assurance that the government is working towards a turnaround in the sputtering GDP growth, following a warning that that the nation may lose its investment-grade status as an economic powerhouse.

Jun 12, 2012

India's Economic Growth Will Slowdown to 6.7%, says United Nations

India's growth story sees no sign of significant revival, with the United Nations on Thursday forecasting the nation's economic growth at 6.7 percent for 2012.

Jun 8, 2012

India Ranks Third in World Realty Price Rise; Global House Price Index Stung By Europe Woes

India has bagged third position among 53 countries where realty prices are high, with the nation witnessing a 12 percent surge in property prices during the first quarter of the year

Jun 6, 2012

Petrol Prices Slashed by Rs 2.02, Another Reduction Likely in Delhi Soon

Petrol prices have been slashed by Rs 2.02 with effect from Saturday midnight following a fall in international crude prices, according to oil companies and government officials.

Jun 3, 2012

Petrol Price Rollback: Oil Retailers to Cut Petrol Price by Rs 2 Per Litre

State oil retailers - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp have agreed to rollback petrol price by Rs 2 per litre following public outcry over its decision to hike petrol price.

Jun 2, 2012

India Adopts Austerity Plan; Analysts Say Measures Won't Impact Unproductive Expenditures

Prompted by the growing fiscal deficit, the Indian government on Thursday announced several austerity measures in an attempt to curtail unproductive expenditures for the current fiscal.

Jun 1, 2012

Mumbai MHADA 2012 Lottery Results Out; Over 11K Application Forms Rejected

In a bizarre first of its kind move, the Maharashtra Housing and Area Development Authority (MHADA) has rejected 11,179 application forms for 2,593 flats which are supposed to be sold today by lottery.

May 31, 2012

Bharat Bandh Halts Normal Life, Violence In Various Parts of the Country, Schools and Colleges Declare Holiday

The Bharat Bandh called by the BJP-led National Democratic Alliance (NDA), the Shiv Sena, the Republican Party of India (RPI) and other political parties has halted the normal life across the country on Thursday.

May 31, 2012

Morgan Stanley Downgrades India's Telecom Sector; Reliance Communications, Idea Shares Fall

India's telecom industry suffered a blow on Tuesday, with Global firm Morgan Stanley downgrading its outlook on two of the nations' telecom companies.

May 29, 2012

Moody's Positive on India's Ratings Despite Depreciating Rupee

Rating agency Moody's has said that India's sovereign ratings will remain intact despite the depreciating rupee.

May 28, 2012

No Hike In Diesel, LPG, Kerosene Rates; Diesel Car Prices May Shoot Up

Oil Minister Jaipal Reddy said on Monday that the rates for diesel, domestic LPG and kerosene will remain the same and that the government is not considering a revision of fuel rates for the time being

May 28, 2012

Goldman Sachs, Bank of America Downgrade India's Growth Outlook

India's growth story comes crashing with Goldman Sachs and Bank of America-Merrill Lynch being the latest global firms to downgrade economic forecasts for the country on Friday.

May 25, 2012