Describing India as an "Asian tiger", the Obama administration has said it will soon hold technical talks with the country on investment pact. The State Department and US Trade Representatives Office will lead negotiations on next-generation of bilateral investment treaties (BITs) ...

PMEAC discusses policy options for current economic scenario

Prime Minister's Economic Advisory Council (PMEAC) today discussed policy options with regard to slowing economic growth and high inflation.The meeting was called by the Prime Minister to deliberate on the current economic situation and to consider the policy options in this regard.The meet...

Centre adopts multi pronged strategy to support export sector

Centre has adopted multi pronged strategy to support export sector badly hit by economic crisis. This was revealed by Union Commerce and Textile Minister Anand Sharma in New Delhi.Talking to reporters, Mr. Sharma said that government will provide two percent duty credit to the textile sector exporti...

GCV system of coal pricing to come in effect from 1st Jan

Ministry of Coal has decided to switch over from the existing Useful Heat Value -UHV based system of grading and pricing of non-coking coals to fully variable Gross Calorific Value (GCV) based system.The system will come into effect from 1st of January next year. According to the Coal Ministry offic...

India calls upon European countries to find funds within to fight their debt crisis<br/>

India called upon European countries to find funds within to fight their debt crisis. As the debt laden Euro Zone expects IMF to come to its rescue, Finance Minister Pranab Mukherjee said resources of the multilateral lender have already been trebled.Therefore, the European countries facing debt cri...

Govt likely to take decision on mandatory hallmarking gold jewelry

The government is likely to take a decision on mandatory hallmarking of gold jewelry in three months. Hallmarking will guarantee the purity or fineness of the precious metal. Currently, the Bureau of Indian Standard, BIS hallmarking scheme for gold jewelry is voluntary in nature. Union Minister of S...

The overall monthly inflation stood at 9.72% in September

Inflation, as measured by the Wholesale Price Index (WPI), stood at 9.78% in August.The rate of price rise was recorded at 8.98% in September, 2010.As per data released by the government today, overall inflation in June this year was revised upward to 9.36% from the provisional estimate of 9.22%. On...

RBI raises per transaction limit to 3,000 USD for exporters

The Reserve Bank of India (RBI) enhanced the limit for retaining foreign currency abroad to 3,000 USD per transaction for exporters against the existing 500 USD.RBI in a statement issued in Mumbai yesterday said the decision has been taken for export related remittances received through Online Payme...

The overall monthly inflation stood at 9.72% in September

Inflation, as measured by the Wholesale Price Index (WPI), stood at 9.78% in August.The rate of price rise was recorded at 8.98% in September, 2010.As per data released by the government today, overall inflation in June this year was revised upward to 9.36% from the provisional estimate of 9.22%. On...

Govt likely to take decision on mandatory hallmarking gold jewelry

The government is likely to take a decision on mandatory hallmarking of gold jewelry in three months. Hallmarking will guarantee the purity or fineness of the precious metal. Currently, the Bureau of Indian Standard, BIS hallmarking scheme for gold jewelry is voluntary in nature. Union Minister of S...