The economy had grown at 5.4 per cent in the corresponding quarter of April-June last fiscal.
The intensity of the fire was so high that people in the villages around were woken up to a loud noise, with their houses shaking.
The fall in exports of gems and jewellery exports is mainly because of shortage of raw-material for jewellery manufacturing.
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Chidambaram said recent measures taken by the Reserve Bank of India were aimed at reducing volatility in the financial market, where the rupee has dropped to record lows.
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The depreciation of the rupee, it said, reflects the wider CAD as well as lower net capital inflows.
Indian exporters on Monday said the fluctuating rupee will not only raise imports bill but would also lead to volatility affecting their businesses.
Foreign brokerage Bank of America Merrill Lynch (BofAML) on Friday said a "dovish" Reserve Bank will slash key interest rates by 0.25 per cent at the February review meet and will do cuts of 0.75 per cent in 2015.
The government on Wednesday raised the import tariff value of gold at $430 per ten grams and that of silver to $639 per kg as prices of the precious metals have risen in the global market.
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
He said the country has witnessed a journey from indecisiveness to clarity and decisiveness.
Govt has drawn list of PSUs for strategic sale: Jaitley
Mumbai, May 14 (PTI) The massive spike in trade deficit caused by sharp rise in gold imports in April would not sustain and there is no need to get excessively worried over the data, analysts have said. They also said the current account deficit or the difference between the foreign exchan ...
Citing rising prices, slowdown in growth and depreciation of rupee among the problems facing the economy, the opposition members said in the Lok Sabha that they feared the repeat of the 1991 crisis when the country had to mortgage gold as it failed to meet short-term debt obligations.
Lower crude oil prices would impact India's inflation, CAD.
A delay in US Federal Reserve's quantitative easing tapering, coupled with better-than-expected September quarter earnings, ensured FIIs kept foreign money flowing into Indian equities.
It was a year of stocks shining bright when it comes to adding to the investors' wealth, and the glitter of gold and silver fading for the second straight year in 2013.
Capital inflows continued to aid the rupee's rise, although a strong dollar overseas capped the gains.
Says operating environment for Indian corporate sector has improved during FY15
India's manufacturing sector activity contracted for the second consecutive month in September as both output and new orders witnessed a decline, an HSBC survey said.
Since end-May there has been volatility in the foreign exchange market.
Recently, Prime Minister Manmohan Singh had also ruled out the possibility of India witnessing a repeat of the 1991 balance of payments crisis and reversing the path to globalisation of economy.
Chief Economic Advisor Arvind Subramanian spoke on a wide range of issues -- from GDP growth and fiscal consolidation to job creation and GST.
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The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 per cent to 10 per cent.
Hailing the announcement of Raghuram G Rajan as the new RBI Governor, India Inc on Tuesday said the appointment of the former IMF Chief Economist will help bring the economy back on growth path.
There are two major factors behind the rupee fall - one is international and the other is domestic.
The government had increased customs duty on gold to 10 per cent and banned import of gold coins and medallions, while the RBI linked imports of the metal to exports.
Under Rajkumar Hirani's light touch and unwavering optimism, the darkness of Sanjay Dutt's life acquires the spirit of a sportsman, grit of a soldier, humour of a rascal and regrets of a son, notes Sukanya Verma.
The 80:20 rule mandates importers to channel at least 20% of the import quantity for jewellery exports.
Committing to more steps to boost economy, the Finance Ministry said initiatives taken by the government in the past one year will boost investment and revive the sagging growth.
Buoyed by healthy farm output and narrowing current account deficit, India is the seventh most economically confident country in the world, a study by global research firm Ipsos has said.
He didn't let cerebral palsy come in the way of his boxing dreams.
Lower fuel subsidy payouts might restrict gross fiscal deficit in FY15.
India and Japan on Friday decided to more than treble their currency swap arrangement from $15 billion to 50 billion in a move seen as sending an important signal for the rupee.
Moody's currently assigns 'Baa3' rating on India, with a stable outlook. 'Baa3' means medium grade with moderate credit risk.
Decisions taken at home to counter impact of 2008 economic meltdown were among the reasons for depreciation of the Indian currency.
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Fag-end dollar selling by exporters helped the rupee to recover lost ground and settle at the day's high of 60.77, a gain of 11 paise. The rupee earlier touched an intra-day low of 61.21 on July 8.
The steep fall in rupee came on a day when the Reserve Bank of India in its first quarter review of monetary policy kept the all key rates unchanged but cut the gross domestic growth forecast to 5.5 per cent for FY'14 from 5.7 per cent earlier.
The Indian economy will expand by 5.6 per cent during 2014-15 even as the Reserve Bank is not likely to cut interest rates this year, according to Ficci's latest Economic Outlook Survey.
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