Finance Minister Arun Jaitley has underlined the need to contain price rise and hasten economic reforms to boost low-cost manufacturing. Jaitley in his Facebook post today said that reviving the growth momentum, containing inflation and altering the pattern of growth to gainful employment was an ove...

China's factory activity grew in May at its fastest pace this year. The official purchasing managers index hit 50.8 in the month, up from 50.4 in April. Any reading above 50 indicates growth. The National Bureau of Statistics said that the reading was higher than analysts had expected. Chin...

Overseas investors pumped in nearly Rs 34000 crore in May

Overseas investors pumped in nearly 34,000 crore rupees in the Indian market last month on hopes that the new government at the Centre would push reforms and spur economic growth. As per the data compiled by capital markets regulator SEBI, net investment by FIIs into Indian equities in May was 14,00...

Diesel prices hiked by 50 paise per litre

Diesel prices have been hiked by 50 paise a litre, excluding state levies. The hikes came into effect midnight last night. The monthly hike in price came after several rounds of discussions that the new Oil Minister Dharmendra Pradhan held with state-owned oil firms on continuing with the reform ini...

FICCI welcomes scrapping of GoMs and EGoMs

Industry body FICCI has welcomed the scrapping of all 30 Group of Ministers, GoMs and Empowered Group of Ministers, EGoMs constituted by the previous UPA government at the Centre. FICCI President Sidharth Birla said that the new government's move to scrap is a step towards good governance. ...

HAL's Chairman says, increase in FDI limit in defence sector will boost production activity in India

Chidambaram expresses disappointment over below 5% growth recorded in 2013-14

Former Finance Minister P Chidambaram today expressed disappointment over below five per cent growth recorded in 2013-14 but hoped that the figure may go upward.In a statement, he said that the good performance of agriculture vindicates the policy measures taken by the UPA-II government. The other g...

Economy witnesses subdued 4.67% growth during last fiscal; Manufacturing & mining output decline

India's economic growth remained subdued at 4.7 per cent in 2013-14 and at 4.6 per cent in the fourth quarter of the financial year, mainly due to a decline in manufacturing and mining output.According to official data released today by the Central Statistics Office in New Delhi, the countr...

India's economic growth remains subdued at 4.7 % in 2013-14

India's economic growth remained subdued at 4.7 per cent in 2013-14 and at 4.6 per cent in the fourth quarter of the financial year, mainly due to a decline in manufacturing and mining output.According to official data released today by the Central Statistics Office in New Delhi, the countr...

Govt to raise FDI in Defence to 100%

The government has proposed to raise Foreign Direct Investment (FDI) in defence sector to 100 per cent. According to sources, the Commerce and Industry Ministry has circulated a Cabinet note for inter-ministerial consulatation. The proposal to raise FDI cap from 26 to 100 per cent is aimed at giving...