The government on Friday appointed noted economist Arvind Virmani as the new chief economic advisor in finance ministry.
The government plans to prepay Rs 5,188 crore (Rs 51.88 billion) worth of high cost debts of Asian Development Bank in the current fiscal, after having prepaid Rs 6,378 crore (Rs 63.78 billion) to the World Bank a few days back.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
This move plus aggressive border violations by China has prompted the Indian Army to deploy extra troops and fighter jets in the area as a counter measures.
Jain was the architect of Deutsche's investment banking business and placed one of his former trading heads, Alan Cloete, in Hong Kong as co-CEO for Asia Pacific in 2012.
We must bring a laser focus on our own interests, and define our friends and foes more clearly instead of trying to live by somebody else's rules. We must grow up, think for ourselves, think India First, asserts R Jagannathan.
India will receive $9.2 billion Asian Development Bank loan during 2008-10 for 31 projects in sectors like energy, transport and financial services, Finance Minister P Chidambaram said on Wednesday.
Asian Development Bank on Monday said India needs to increase investment rate and improve productivity on a massive scale if its economy was to expand beyond 7-8 per cent.
India's economic growth is likely to slow down to 6.5 per cent this fiscal and to 6 per cent in the subsequent year mainly due to high oil prices, which reactivated inflation, the Asian Development Bank said on Wednesday.
India on Monday said it will meet Pakistan next week to resolve issues, such as transit fee, impeding progress on the over $7 billion Iran-Pakistan-India gas pipeline project, even as it gets formally inducted in a rival line from Turkmenistan.
After GAIL, Indian Oil Corp has expressed interest in buying out Asian Development Bank's 5.2 per cent stake in Petronet LNG Ltd, company chairman Sarthak Behuria said. However, if the state-run promoters of Petronet are not allowed to raise stake in the company for fear of it becoming a public sector unit, Behuria suggested selling ADB's shareholding to the public.
The still lingering global financial turmoil could push as many as 21 million more people into extreme poverty in the Asia-Pacific region, a joint report by the United Nations and Asian Development Bank said.
The Asian Development Bank approved a $200 million loan to support fiscal reforms and social development in Kerala, its first aid to the southern Indian state, the multilateral lending agency said on Tuesday.
China said it has suspended the project due to security concerns from a third party.
In the current financial year, TPC has planned capital expenditure of Rs 2,670 crore for their projects in Trombay, Haldia and in adding capacity to their wind power and digiset generating systems.
Bangladesh government has agreed in principle to construct a 30-km pipeline for supplying gas to the Tata Group's proposed fertiliser plant in Chittagong.
Asian Development Bank is working on a grand plan to link Kabul with Bangkok and Hanoi through India as a part of its goal to link Asia.
The country needs 100 million jobs in the formal sector in the next decade to take advantage of its demographic dividend. Also, it should get into the global supply chain to generate many of those by negotiating trade deals effectively, industry players and experts have said. "We need something like 100 million jobs in the next 10 years, which means that the non-agriculture sector has to generate 14 per cent job growth every year," said Aditya Ghosh, co-founder of Akasa Airlines, at the Global Economic Policy Summit organised by the CII.
The two-day ministerial meeting of Afghanistan, Pakistan and Turkmenistan to formally invite Indian participation in the transnational pipeline project originating from Dauletabad fields in Turkmenistan was cancelled.
Afghanistan, Pakistan and Turkmenistan will meet in Manila on Tuesday to formally invite Indian participation in the transnational pipeline project originating from Dauletabad fields in Turkmenistan.
The Asian Development Bank is all set to enter the Indian capital market with a bond issue to raise upto Rs 100 million (Rs 10 crore) as it has obtained the Reserve Bank of India's and ministry of finance's approval.
Asian Development Bank on Monday warned that job reservation in private sector could lead to swift flight of skilled labour from India.
The Asian Development Bank will invest $75 million in Petronet LNG Ltd for taking 5.2 per cent equity stake even as ExxonMobil-promoted RasGas of Qatar desired to pick 10 per cent stake in India's first liquefied natural gas importer.
Asian Development Bank on Friday said India can sustain 8 per cent economic growth but asked government to improve infrastructure and carry forward reforms to attain a higher growth of 9-10 per cent.
The minister would be accompanied by Finance Secretary Arvind Mayaram and other finance ministry officials.
The decision to increase the quantum of capital infusion was taken at a meeting between Finance Minister P Chidambaram, RBI Governor Raghuram Rajan and Economic Affairs Secretary Arvind Mayaram in New Delhi.
Weaker demand for Indian exports and higher financing costs will lead to a deceleration in India's gross domestic product (GDP) growth rate to 7.9 per cent in 2008, the International Monetary Fund has said.The IMF's growth projections for India are in line with other estimates, including that of the Asian Development Bank, which pegged the 2008-09 growth at 8 per cent.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
From bhikshus of Ashokan 3rd century BC and medieval Sufis to Oxfam, Omidyar and Soros now, non-State actors have any real power only when they work in conjunction with a real State, asserts Shekhar Gupta.
