Finance Minister Arun Jaitley on Wednesday said the country is on an "upward curve" and a good monsoon, GST passage and increased infra and rural spending will further accelerate the growth.
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
Ban on large diesel vehicles a transient phase, says Jaitley
SoftBank's investments in the past two years include $627 million in online-retailing marketplace Snapdeal and leading a $210 million funding round in taxi-hailing app Ola Cabs.
The New Year 2015, however, may see shares worth over Rs 50,000 crore (Rs 500 billion) being put on the table by the government, including by way of part-sale of its holdings in PSUs and its residual minority stakes in some private sector entities.
RBI Governor Raghuram Rajan on Friday defended his development index for measuring backwardness of states, saying the aim is to "encourage development" and "everything over and above that is a political spin."
The Reserve Bank on Friday said the economy would grow by 5 to 5.5 per cent in the current fiscal, pinning its hopes on good farm output and improved exports.
The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
The visa-on-arrival facility at the Attari-Wagah check post to Pakistani nationals over 65 years of age will begin from January 15, but they would not be able to stay in Punjab, Kerala and Jammu & Kashmir.
After taking charge, P Chidambaram promised fine-tuning of policies and place a stable tax regime.
The wholesale price-based inflation hovered over seven per cent through 2012, down from 10 per cent inflation seen in the previous year, reflecting the impact of tight money policy of the Reserve Bank of India.
The year was particularly significant as the market regulator Securities and Exchange Board of India acted in favour of the investors and eased norms making it easier for them to invest in mutual funds.
Investors got the upper hand in 2009, while fund houses struggled to cope with regulatory changes and upheavals in the economy, even as the industry shrugged off recession blues with its assets hitting an all time high of Rs 8 lakh crore (Rs 8 trillion).
The biggest irony is that nearly two-thirds of these funds are estimated to have come from investors in overseas markets, which themselves were in shambles and where companies were in dire need of capital, forcing them to beg their respective governments for money.
They used to be an avenue of mutual gains for investors in both good and bad times for years, but incurred heavy losses in 2008, when mutual funds became poorer by about Rs 1,50,000 core (Rs 1,500 billion) or about one-third of their total size.
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