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| November 06, 2009 | | Profitable PSUs to divest 10 per cent equity
According to the CCEA's decision, unlisted firms with three-year track record of net profit and positive networth will have to come out with Initial Public Offerings.
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| October 28, 2009 | | Indian economy is responding well: FM
Finance Minister Pranab Mukherjee, while speaking to media persons in New Delhi on Tuesday, said that India's economy is responding well. He also informed that the government took essential measures to tackle the adverse impact of inflationary pressure.
RBI signals tightening of interest rates
The Reserve Bank of India on Tuesday said it was starting to unwind some of the extraordinary policy easing and liquidity support measures taken to shore the economy up against the global credit crisis and economic slump.
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| September 22, 2009 | | India's 1st non-stop train flagged off
The country's first point-to-point, non-stop train, Duronto Express was flagged off from Sealdah station on Friday by Railway Minister Mamata Banerjee as a 'Durga puja' gift to the people.
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| September 16, 2009 | | Kamal Nath on India's road connectivity
"We have decided to build 20 km of roads every day and then take it to 7,000 km a year. Therefore, if we lose more days (in terms of putting foreign investment in place), it will be a great loss," Union Minister of Surface Transport Kamal Nath told a gathering of 100-odd potential investors and entrepreneurs at the Indian Consulate in New York on Tuesday.
Nath on why India was not hit by financial crisis
The Indian economy has emerged almost unscathed from the global economic crisis that has ravaged many nations, said Union Minister of Surface Transport Kamal Nath on Tuesday.
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| September 01, 2009 | | New foreign trade policy to enhance tea exports
): Tea exporters in Siliguri in West Bengal are upbeat thanks to the new provision bringing the tea industry under the Vishesh Krishi Upaj Yojana in the new foreign trade policy.
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| August 28, 2009 | | Reserve prices of 3G and 4G radio spectrum raised
The sales would be held within three months, India's Telecommunication Minister A Raja said in New Delhi. He added the government expected good sale.
Govt unveils steps to reverse export decline
India plans to cut transaction costs for exporters and ensure the availability of dollar finance, as it looks to reverse a decline in exports and double outbound sales of goods and services over the next five years.
Farm production might fall by 15-20 percent
Pranab Mukherjee on Thursday said that though the exact impact of the drought on the Kharif crop would be known only when the harvesting begins, there is every possibility of a shortfall of 15-20 percent.
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| August 18, 2009 | | Poor monsoon to hit India's growth: Montek
Addressing an international meet on key inputs for accelerated development of Indian power sector at New Delhi on Tuesday Montek Singh Ahluwalia, Deputy Chairman of Planning Commission said that India's growth projection could be trimmed due to a poor monsoon.
India staring at drought, says PM
Prime Minister Manmohan Singh said on Tuesday that the country was facing a drought threat. India's vital monsoon rains have been 29 per cent below normal since the beginning of the June-September season, hurting crops such as rice and sugarcane and triggering a sharp rise in food prices.
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| August 17, 2009 | | Tourism finally picking up in Kerala
The Alleppey district in the state houses some of the most popular backwaters where tourists come to enjoy boat rides amid lush green and serene surroundings.
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| August 13, 2009 | | Samsung HD video recording cellphone in India
Samsung Electronics on Wednesday launched OMNIAHD in India world's first full-touch handset featuring 720P HD video recording, with the largest 9.4 cm AMOLED screen on mobile.
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| July 23, 2009 | | Patna floating restaurant to boost tourism
A 75-seater luxury yacht will take the visitors on a cruise through the Ganga, as they dine in the fine surroundings of the restaurant.
Wipro countering meltdown successfully
With a 13 per cent rise in quarterly profit, India's third-largest software services exporter, Wipro limited, said on Wednesday that it was adapting successfully to the global meltdown.
India to sign FTA with Asean
India is close to signing a free trade pact with the South-East Asian nations to boost exports in the face of a global economic downturn and rising protectionism, a top official said on Wednesday.
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| July 10, 2009 | | Manmohan meets Obama at G8-G5 summit
US President Barack Obama and Indian Prime Minister Manmohan Singh cozied up to each other at a summit of the G8-G5 groupings at L'Aquila in Italy on Thursday.
No corporatisation of Indian Railways: Mamata
Railways Minister Mamata Banerjee on Thursday ruled out corporatisation of the country's railroad network but said the private sector's participation can be considered for commercial use of railway land in areas like healthcare and
Jewellery traders rue increased duty on gold
Jewellery traders said the exemption of branded jewellery from excise duty will have a marginal effect on the traders as only few customers buy
Budget 2009: Traders rue increased duty on gold
Jewellery traders said on Tuesday that the exemption of branded jewellery from excise duty will have a marginal effect on the traders as only few customers buy
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| July 09, 2009 | | 'It was a 'no drama' Budget'
Arun Kumar, partner-in-charge, KPMG US India Practice, delivering his views on the Indian Union Budget 2009 at Asia Society in New York.
'Budget has no great initiative'
T N Srinivasan, Samuel C. Park, Jr. Professor of Economics, Yale University, giving his opinion on the Indian Union Budget 2009 at Asia Society in New York.
'Budget plays to the political class'
Lalit Ahluwalia, CFO, Ranbaxy North America, presents his views on the Indian Budget 2009 at Asia Society in New York.
'The Budget was fundamentally boring'
Parag Saxena, founding general partner and CEO, New Silk Road Partners, speaking on the Indian Union Budget 2009 at Asia Society in New York.
'High fiscal deficit is a matter of concern'
K R Girish, partner, KPMG India Tax and Regulatory Services, speaking on the Indian Union Budget 2009 at Asia Society in New York.
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| July 07, 2009 | | Budget 2009 faces flak from opposition parties
CPI (M) leader Brinda Karat felt the government's Budget did very little for the common man and only catered to certain sections of the country.
'Did not expect such a Budget from Dr Singh'
Senior equity research analyst Ramesh Bhojwani's biggest disappointments include no word on foreign direct investment, an absolute silence on reforms which is the need of the hour in several sectors like banking, realty, infrastructure and power. "Even the issue of divestment in PSUs has been given a passing reference," he adds.
G8 summit's top agenda -- dollar, climate change
India is willing to discuss proposals to replace the US
Reid and Taylor to buy handloom from Kashmir
They sealed the deal after their visit to
Pranab presents populist Budget
Focusing on rural India and attaining a high GDP, Finance Minister Pranab Mukherjee outlined targets such as speeding up infrastructure development and spending more for the development of rural areas and the poor.
'Finance Minister has done an admirable job': PM
Prime Minister Manmohan Singh hailed the Union Budget 2009-10, which was presented by Finance Minister Pranab Mukherjee on the floor of the Parliament on Monday.
Now, pay toll to use Bandra-Worli Sea Link
The Bandra-Worli Sea Link, which was opened to the public on July 1, had been kept free of toll for the first few days. But, from Monday onwards, the toll charges will be Rs 50 one way to use the bridge.
'Budget won't benefit middle-class'
Kavita Mishra laments the fact that the budgetary proposals will lead to a drop in prices of LCD televisions and big cars. "What use is this for the common person?" she asks.
'Excellent Budget!'
He says a Budget is supposed to be about tax and expenditure. "I think he (Finance Minister Pranab Mukherjee) has outlined significant tax reforms, which will be implemented over the next three to six months."
'I would rate this Budget 5 out of 10'
The failure of Finance Minister Pranab Mukherjee's Budget in slashing securities transaction tax, the status quo when it came to short-term capital gains tax, no substantial increase in exemption level for calculating personal income tax and no complete tax exemption on interest income earned by senior citizens was a huge letdown for Siddharth Kuvavala.
'It's a 50-50 Budget'
Deepak Mehta is not at all happy with the recent hikes in the rates of petrol and diesel. The good point, he feels, is the spending on the social sectors and the steady growth experienced by India Inc despite a global slowdown.
'What impact will the Budget have on one who sells
People like Ramesh, who sells roasted chickpeas for a living, have no stake in one of the country's biggest extravaganzas -- the Union Budget. Ask him about the Budget and its impact on people like him and he smiles at you as if you are talking Greek or Latin. He is representative of a vast swathe of India's poor, whose lives the powers-that-be feign to improve by an exercise like the Budget.
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| July 06, 2009 | | 'Govt only helps the wealthy'
Mussadiq, a software engineering student, says that unemployment is India's number one problem, and that this Budget doesn't do enough to address it.
'No more fringe benefit tax -- that's great!'
Apoorwa Wagh, vice president, marketing at EFKON India, has mixed feelings about the new budget. But he's excited that the Fringe Benefit Tax has been scrapped.
'Share market disappointed with Budget'
According to S P Prabhu, higher government spending will lead to an increase in consumption, ultimately acting as a growth trigger. "The share market was expecting a lot of sops, concessions for the industry, which has not come out in the budgetary proposals.
'The overall Budget is not good'
Tata Communications employee Agnello Alphonso's main complaint is that the current income tax exemption limit of Rs 1.5 lakhs has only been raised by Rs 10,000 to Rs 1.6 lakhs.
'Wish prices were kept low for the common man'
For Ashok Upadhyay, a taxi driver from Varanasi, Uttar Pradesh, who makes his living in Mumbai, there are concerns more pressing than the Budget.
'Increase in tax exemption limit is great'
Gayatri Basu, an auditor with the government of India, says the news that income tax exception limit for women has been raised to Rs 1.9 lakh was welcome. That was her number one concern with the Budget, she said.
Fuel price will be cut if crude prices drop: Deora
India's oil minister Murli Deora said on Saturday that the
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| July 03, 2009 | | Rail budget a competent job: Manmohan Singh
The Railway Budget speech underscored the Congress party-led government's focus on inclusive growth, after it was re-elected by
Passenger amenities, top priority, says Mamata
In a thanksgiving budget, Railway Minister Mamata Banerjee on Friday proposed no increase in passenger fares or freight tariff while announcing a slew of measures including launch of 12 non-stop point-to-point long-distance trains and air-conditioned double-decker coaches for inter-city travel.
Airfares to Srinagar at all time high
During May, the airfare from New Delhi to Srinagar was between Rs 2,500 to Rs 3,500. June
India can grow at 8.5% in 2 years: Montek
Planning Commission Deputy Chairman Montek Singh Ahluwalia Thursday said there is no reason why India, despite the current global financial turmoil, could not get back to earlier high growth path if it can step up domestic investment demands.
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| June 29, 2009 | | Diamond cutting industry pins hopes on Budget
The Indian diamond cutting industry, which has been badly hit by the global recession, is keeping its fingers crossed for some sops to be declared by the Indian government in the ensuing Budget to be presented on July 6.
Tata rolls JLR cars into India
The country top automaker, Tata Motors, launched its marquee car brands Jaguar and Land Rover in India on Sunday. It had acquired these brands from US car maker Ford. The company promises that the two brands would give the Indian public an opportunity to experience the 'pleasure of driving superior technology.'
Industrialists protest with flowers
Industrialists and traders in Punjab sent flowers to their
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| June 17, 2009 | | Pre-Budget parleys with leaders continue
Among those who submitted their respective ministry's suggestions was Minister of Urban Development S Jaipal Reddy who called on the finance minister in New Delhi on Tuesday.
Textiles likely to achieve 7-8 per cent growth
Textiles Minister Dayanidhi Maran said in Coimbatore on Tuesday that the government would try to achieve a 7-8 per cent growth in the industry in fiscal year April 2009-March'10.
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| June 16, 2009 | | Doha trade impasse broken: India
Union Trade Minister Anand Sharma said on Monday that the
Budget 2009: FM talks to Cong
As part of the pre-Budget exercise, the finance minister customarily holds parleys with various stakeholders, state finance ministers, industrialist groups, leading economists, trade unionists and officials of various financial sectors.
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| June 10, 2009 | |
GM unveils LPG-run Chevrolet Spark
The version is GM India's first clean-burning liquefied natural gas car in India, built at company's plant at Talegaon in Maharashtra.
Govt has scope for asset sales: Ahluwalia
India can raise funds through selling up to49 percent of its state-run firms, Montek Singh Ahluwalia, deputy chairman of thePlanning Commission, has said.
Bombardier unveils Indian-built metro car
Bombardier Transportation India on Friday rolled out Bombardier Movia, the first indigenously built metro car from its manufacturing unit in Savli.
Continuous shutdown takes toll on tourism in Kashmir
Continued shutdowns and violence over the over the alleged rape and murder of two Muslim women by security forces has taken a toll on the tourism sector in Jammu and Kashmir.
Imported cigarettes too will carry warning
The Directorate General of Foreign Trade of India made it mandatory for imported cigarettes and other tobacco products to carry pictorial warnings against tobacco consumption on the packs.
Infosys incurs capital expenditure of Rs 63 crore
IT major Infosys Technologies has incurred a capital expenditure of Rs 63 crore in its three loss-making subsidiaries in China, Mexico and the US.
Investment friendly car for the common man
An owner of a mechanical workshop in Bangalore has created a small car which needs less space to park. The most striking feature of the two-seater car is its upward opening doorswhich not only saves space but also gives protection from the sun and the rain.
Manmohan Singh stresses on inclusive growth
Responding to the President's speech, Prime Minister Manmohan Singh said that promoting communalism would stall inclusive growth in the country.
Manufacturing industries affected by global crisis
The micro engineering industries in Tamil Nadu have been affected by the ongoing global economic meltdown.
Protest over Arcelor Mittal plant in Jharkhand
Angry villagers of the Khuti and Gumla districts in Jharkhand are protesting against the transfer of land to steel giant Arcelor Mittal for a proposed steel project.
Sensex at one year high
The Bombay Stock Exchange benchmark Sensex at mid sessionon Wednesday surged over 434 points to 15,561.11, an almost one-year high.
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| June 09, 2009 | |
Will lower telephone tariff: A Raja
Minister of Communications and Information Technology A Raja said he would consider reducing telephone tariffs after he assumed charge of his ministry.
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| June 05, 2009 | |
The Audi Q5, now in India
The Audi Q5 range starts at Rs 38.29 lakh (Rs 3.83 million) for the 2.0 TFSI and Rs 44.19 lakh (Rs 4.42 million) for the 3.0 TDI.
Inflation in India falls to 0.48%
Wholesale price-based inflation stood at 8.90 per cent in the corresponding week a year ago.
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| May 29, 2009 | |
Fuel prices may be based on market prices
India's Oil Minister Murli Deora said a proposal to allow firms to set retail fuel prices based on market prices would be sent to the cabinet for approval within six weeks.
GDP shows signs of recovery in Q4
India's gross domestic product made a significant recovery, growing by 5.8 per cent in the January-March quarter as compared to 5.3 per cent in the previous quarter.
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| March 24, 2009 | | Tata says Nano meets all that it promised
Ratan Tata, chairman of the Tata Group, India's top vehicle maker launched Nano, the world's cheapest car, in Mumbai on Monday and said that the car would meet everything that was said and promised.
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| March 23, 2009 | | Here comes the Tata Nano!
Tata Motors on Monday has commercially launched its people's car, Nano, promising to stick to the Rs 1 00,000 price tag for the base model.
rediff.com: 'India not facing a deflationary threat'
Dr Ajit Ranade discussed slowdown and its effects with rediff's readers on Friday.
Nano: One man's loss, another's gain
With Tata Motors all set to launch Nano, the world's cheapest car, later on Monday, locals in Sanand, where Tata's new Nano plant is being set up, are upbeat at the prospects.
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| March 18, 2009 | | Resist protectionism, says Wisner
Former US Ambassador to India says that India, despite the economic downturn, has performed quite well and will continue to register serious economic progress. In light of this, it is necessary for the United States and India to work together and to resist the temptation of protectionism.
US must not stop H-1B visas: Sunil Mittal
Sunil Mittal, Bharti Airtel chairman, said that the United States needs to stimulate its economy further so as to tide over the economic crisis. He said that the upcoming G-20 Summit should hold a few answers to how long could the crisis last.
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| March 04, 2009 | | Rolls Royce unveils a new stunner
Rolls-Royce Motor Cars unveiled its latest experimental car, called 200EX, at the Geneva Motor Show on Tuesday.
High gold price disappoints buyers
There are no real buyers in the market, and with fresh imports registering lower levels by the month, the situation is unlikely to improve in the near-term, they believe.
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| March 03, 2009 | | Reliance creates biggest refining operations
In one of the largest merger deals in India, Reliance Petroleum will merge with its parent and the country's biggest company, Reliance Industries, in what the promoters say will create better synergies for them in the hydrocarbons space.
Realty prices in metros fall by 10-40%
Tto the relief of the common man the realty prices in key apartment zones in and around Delhi, Mumbai, Bangalore and Hyderabad are falling.
RIL-RPL merger gets nod
In one of the largest merger deals in India, Reliance Petroleum will merge with its parent and the country's biggest company, Reliance Industries, in what the promoters say will create better synergies for them in the hydrocarbons space.
An insurance policy for pet dogs!
To provide insurance cover to pet dogs, insurance major United India Insurance Company Limited launched a policy in Jaipur earlier this week.
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| February 16, 2009 | | Interim Budget: Focus on social sector
The UPA government paraded its economic achievements on Monday and promised help for the rural sector as it tried to shield the economy from a global credit crunch and stem job losses with elections just weeks away.
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| February 14, 2009 | | India's exports to grow 12-15%: Nath
Nath also said the 51 per cent cap for foreign direct investment in retailers offering one brand of goods will also remain. No foreign direct investment is allowed in retailers offering a variety of brands.
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| February 05, 2009 | | Garment units suffer recession pangs
Small- and medium-sized garment-making units at Noida in Uttar Pradesh are facing the heat of the recession in the United States and many European countries leading to a drop in export orders.
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| January 12, 2009 | | Satyam new board meets
In a major development on Wednesday, B Ramalinga Raju, chairman of Satyam Computer Services, resigned from the board after admitting to discrepancies in the company’s balance sheet as on September 30, 2008.
Satyam chairman CFO in police custody
In a major development on Wednesday, B Ramalinga Raju, chairman of Satyam Computer Services, resigned from the board after admitting to discrepancies in the company’s balance sheet as on September 30, 2008.
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| January 07, 2009 | | Satyam chairman Raju quits, admits to fraud
In a major development on Wednesday, B Ramalinga Raju, chairman of Satyam Computer Services, resigned from the board after admitting to discrepancies in the company’s balance sheet as on September 30, 2008.
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| December 30, 2008 | | Hyundai unveils 'i20' at Rs 4.80 lakh
South Korean car maker Hyundai Motor on Monday launched i20 car in the Indian markets in New Delhi. i 20 said to be an improved version of i10 with more space and more powerful engine.
Economic crisis hits pub business
Global economic crisis has affected the otherwise thriving pub business in India as people shy away from splurging even during the festive season.
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| October 24, 2008 | | Indian markets plunge 11%
The Sensex extended losses to almost 11 per cent on Friday.
Meltdown forces cost-cut in IT sector
Global recession trends and weak dollar has hit India's IT industry with many companies resorting to cost cutting measures.
Banks should lend aggressively: FM
Finance Minister Palaniappan Chidambaram has said that there was adequate liquidity in the banking system and he has advised banks to lend aggressively.
Jumbo owners hit by economic crisis
Global economic crisis has stated taking a toll on India's elephant owners as well as they await the arrival of tourists in Jaipur with hopes of making some money to tide over their financial woes.
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| October 21, 2008 | | Slowdown may hit your marriage prospects!
The global recessionary trends have affected the young employees of the Indian software industry in Hyderabad in more than one way.
Recession robs diamond industry of sparkle
Diamond exporters are feeling the heat of the US meltdown. With the demand gone down not only in the international market but in the domestic market as well, more orders are being cancelled every day.
Indo-Pak LoC trade opens
As a goodwill gesture, the traders of Jammu and Kashmir dispatched items across the border free of cost when the Indo-Pakistan LoC trade opened on Tuesday..
Global turmoil to hit India: PM
Prime Minister Manmohan Singh on Monday said that India’s economic growth may decelerate to 7.5 per cent in 2008-09, as the country is experiencing ‘ripple effects’ of the global financial crisis and liquidity crunch.
Rate cut in line with govt policy: FM
Finance Minister Palaniappan Chidambaram on Monday said that the 100 basis point cut in repo rate by the Reserve Bank of India is consistent with the government's policy of maintaining growth and moderating inflation.
Kingfisher hints at more job cuts
Kingfisher Airlines chairman Vijay Mallya indicated on Monday that if the slump in the market continues, more job cuts and lay-offs may take place in the aviation industry.
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| October 16, 2008 | | India to ease travel procedures
A Pakistani trade delegation demanded simplified travel procedures to ensure enhanced trade with Indian Kashmir on Wednesday. India and Pakistan last month agreed on arrangements to open a border route for bilateral trade in disputed Kashmir.
Volvo unveils XC90 R-Design
Swedish carmaker, Volvo Corporations’ subsidiary, Volvo Cars India on Wednesday introduced the VOLVO XC90 R-Design in the market.
Tourists enjoy stylish living in Kochi
Tourists visiting Kochi have a reason to rejoice as the city's old grand houses built by affluent sections during the colonial period are being converted into tourist homes.
Asia turns to economy risks
Japan's Nikkei average badly as profit taking emerged after a day of record gains, with Honda Motor Company and other exporters weaker on concerns about the global economy.
India to take more policy steps: FM
Finance Minister P Chidambaram said that the Reserve Bank of India has agreed on measures to address the liquidity problem.
Jet to lay off 1,900 employees
India's top private carrier Jet Airways has decided to lay off 1,100 additional employees in the next few days, a top official said on Wednesday even as a right-wing Hindu group raised slogans and clashed with policemen outside the airlines' office in Mumbai.
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| October 15, 2008 | | A village that weaves cloth for the Tricolour
Manetha village in Rajasthan with the population of hardly 500 people holds a prominent position on the Indian map due to the committed approach of the weavers devoted to weaving the cloth for national flag.
India boosts liquidity in mutual funds sector
India pumped liquidity into its markets and took measures aimed at helping its $106 billion mutual-funds industry on Tuesday as its rupee and stocks rallied after governments worldwide moved to restore confidence in the financial sector.
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| October 01, 2008 | | Indian banks robust, says Chidambaram
Finance Minister Palaniappan Chidambaram on Tuesday said that the market regulations would be tightened if needed to deal with the consequences of a widening global financial crisis.
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| September 24, 2008 | | Nano set to roll out in three variants
Keeping aside the Singur controversy, the world's cheapest car -- Tata Nano -- is all set to roll out next month in three petrol variants: standard, deluxe and luxury.
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| September 22, 2008 | | KG basin gas to lift Reliance profit: Ambani
Reliance Industries will start pumping natural gas from its deep-sea block early next year, putting India's most valuable firm on track to earn a quarter of its profit from oil and gas production, Mukesh Ambani said on Sunday.
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| September 18, 2008 | | Indian bankers see little impact of Lehman collapse
While Indian bankers do not see much impact from the exposure to Lehman Brothers, market analysts do not rule out immediate repercussions of the fallout on the Indian stocks. It is official now that the sub prime crisis is no longer confined to either the U.S. market or just the mortgage market… but the reverberations are being felt world over and across all financial services.
West Bengal supports Nano project
Authorities in West Bengal have said that they would not return farmlands acquired for the Nano car plant. Chief Minister Buddhadeb Bhattacharjee said that only 70 acres of land would be returned and appealed to Tata Motors to resume work.
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| September 11, 2008 | | Tata Nano passes the Indian road test
The Singur plant may not be ready to roll out the Nano just yet, but the world’s cheapest car is now officially roadworthy for Indian roads.
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| September 05, 2008 | | Mercedes-Benz buses on Indian roads
German auto major Mercedes Benz recently entered the bus segment in India with the launch of its Mercedes-Benz intercity luxury coach.
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