WB chief to meet PM Modi to understand his development priorities

Govt enhances FDI cap in Defense, Insurance sector to 49%

To make the economy more robust and free from the resource crunch, the government this time did not disappoint the market and gave a major push to Foreign Direct Investment, FDI in the Budget.The Finance Minister announced a substantial increase in the FDI cap in defense and insurance sectors from 2...

Govt enhances FDI cap in Defense, Insurance sector to 49%

The government has substantially increased the Foreign Direct Investment, FDI cap in Defense and Insurance sector from 26 to 49 per cent to make the economy more robust and free from the liquidly crunch. Talking to the AIR, economists expressed the hope that the FDI inflow into the Indian economy no...

Huge investment proposals for electronics sector

In an encouraging sign, the government has received fresh investment proposals of about 5,000 crore rupees in the field of electronics manufacturing, taking the cumulative amount to about 80,000 crore rupees till June. The Department of Electronics and Information Technology, DEITY Joint Secretary A...

Overseas investors pump in Rs 22000 crore this month

Continuing to bet on the reforms agenda of the government, overseas investors have pumped in over 22,000 crore rupees in the Indian markets this month.PTI reports quoting latest data that the net investments by foreign investors in equity market stood at 10,755 crore till yesterday, while for the de...

Govt: Recapitalization of Rs 2.4 lakh cr by PSBs over next 4 yrs is priority

Finance Minister Arun Jaitley says, that recapitalization of 2.4 lakh crore rupees by public sector banks over the next four years is the priority of the Government. Inaugurating the 5111th Branch of Canara Bank in New Delhi today, Finance Minister Arun Jaitley said, the capital will be raised by th...

ADB upgrades India's economic growth forecast to 6.3 per cent in 2015-16

Asian Development Bank, ADB, has upgraded India's economic growth forecast to 6.3 per cent in 2015-16 on hopes of speedy reform process.The multilateral funding agency, however, has retained its forecast as 5.5 per cent growth in India this year. In a release, it said expansion in the sub-r...

IMF welcomes establishment of BRICS bank<br/>

The International Monetary Fund has welcomed the move to set up a new BRICS development bank stating that it is ready to work with the Bank&apos;s leadership.&quot;I would like to congratulate you on hosting a successful meeting of the BRICS leaders in Fortaleza, Brazil, and especially on es...

Centre advises States not to announce bonus over MSP on rice and wheat this year

The Centre has advised States not to announce bonus over the minimum support price (MSP) on rice and wheat this year to check inflation. It also asked Food Corporation of India (FCI) to restrict procurement of food grains from such States and not to give subsidy to them on procurement and distributi...

FM stresses on financial inclusion of rural population through banking sector

Finance Minister Arun jaitley has stressed on financial inclusion of rural population through banking sector. He said banking sector covers around 58 percent population while 48 percent is still out of its reach. Inaugurating the 5111th Branch of Canara Bank in New Delhi today, he said Government wo...