Economy News

Additional Foodgrain Godowns To Be Created In 19 States

The government is planning to construct foodgrain storage capacity of 151 lakh tons in 19 states, said Minister of Consumer Affairs, Food and Public Distribution K.V. Thomas informed the Parliament Tuesday.

Mar 20, 2012

RBI's Reference Rate for Dollar Today

The Reserve Bank of India (RBI) on Tuesday fixed the reference rate for the US dollar at 50.2545 rupees and the euro 66.5226 rupees.

Mar 20, 2012

BSE Sensex Falls for Third Straight Session

The BSE Sensex fell yet again on Monday as the country's financial sectors like banks have been hit. Earning worries also hit the technology stocks, leading to fall of stocks for a third straight session.

Mar 19, 2012

RBI's Reference Rate for Dollar Today

The Reserve Bank of India (RBI) on Monday fixed the reference rate for the US dollar at 50.1245 rupees and the euro 66.0025 rupees.

Mar 19, 2012

India, Africa Set $ 90 Billion Business Target

India and African nations have decided to set a $90-billion business target to be met by 2015.

Mar 18, 2012

India Budget 2012-13: Luxuries Become Dearer

It might have appealed to the common man when Finance Minister Pranab Mukherjee, while presenting the Union Budget 2012-13 in the parliament Friday, announced the decision to raise tax exemption limit to Rs. 2 lakh. But, virtually, people are going to lose more money since service tax, excise tax and customs duty are going to be raised. The budget is the most discomforting to people who seek luxuries of life.

Mar 17, 2012

Manmohan Singh: 'Compulsions of Managing a Coalition'

In the midst of speculation whether Trinamool Congress Chief Mamata Banerjee is on the United Progressive Front's board after her recent protest about price rise in the Union budget 2012-2013, the Prime Minister Manmohan Singh has maintained "these are compulsions of managing a coalition."

Mar 17, 2012

India Inc Welcomes Union Budget 2012-2013

Leading business bodies and industrialists in the country welcomed the Union Budget 2012-2013 presented by the Union Finance Minister Pranab Mukherjee, Lok Sabha Friday.

Mar 16, 2012

BSE Sensex Falls After India's Modest Budget

The BSE Sensex fell for second consecutive days following the presentation of India's annual budget for the fiscal year.

Mar 16, 2012

Union Budget: Government to Move Amendments for Banking, Insurance Laws

The official amendments to "The Pension Fund Regulatory and Development Authority Bill 2011", "The Banking Laws (Amendment) Bill, 2011" and "The Insurance Laws (Amendment) Bill 2008" will be moved in the current session of the Parliament.

Mar 16, 2012

Union Budget: Rs. 4,000 Crore Allocated to Rural Housing Fund

Presenting the General Budget 2012-13 in Lok Sabha Friday, Union Finance Minister Pranab Mukherjee announced various mashers for mitigating shortage of housing for low income groups.

Mar 16, 2012

Union Budget 2012-13: Summary

The Union Budget 2012-13 identifies five objectives to be addressed effectively in the ensuing fiscal year. Here is the summary of the general budget.

Mar 16, 2012

Union Budget 2012-2013: Rationalization Measures in Indirect Taxes

Presenting the General Budget for 2012-2013 in Lok Sabha, Friday, the Union Finance Minister Pranab Mukherjee has announced various rationalization measures, including excise duty rationalization for packaged cement.

Mar 16, 2012

Union Budget 2012-2013: Service Tax Rate to be Raised From 10% to 12%

Presenting the Union Budget for 2012-2013 in the Lok Sabha Friday, Finance Minister Pranab Mukherjee announced that service tax rate would be marginally raised from 10 percent to 12 percent.

Mar 16, 2012

Union Budget 2012-2013: Agri Customs Duty to be Reduced to 2.5 Percent

Carrying forward the initiatives taken for agriculture and agro-processing sectors, the government proposed to reduce basic customs duty from 7.5 percent to 2.5 percent on sugarcane planter, root or tuber crop harvesting machine and rotary tiller and weeder and parts for the manufacture of these.

Mar 16, 2012