Shinde to embark on 5-day visit to US to tap investment in India's power sector

Union Minister for Power Sushil Kumar Shinde is to embark on a five day visit to the United states to tap investment in power sector in India. He is leaving for Chicago and New York on Monday. An official release said, the power sector of India will require 232 billion US dollars in the coming years...

Kaushik Basu seeks reduction in interest rates

Chief Economic Advisor Kaushik Basu has pitched for a reduction in interest rates to maintain growth. In an interview to a private news channel, Mr Basu said the RBI's tight monetary policy has had limited impact and the time has come to try something different. His comments came within day...

Rural Electrification Corporation Ltd. announces Final Dividend

The Public Sector company Rural Electrification Corporation Limited today announced the Final Dividend of four rupees per equity share on the paid up capital of the company for the year 2010-11.The Chairman and Managing Director of the Company, H D Khunteta told reporters in New Delhi that the Final...

Union Finance Minister Pranab Mukherjee said in Mumbai today that petrol price rise was inevitable because of a steep increase in price of crude oil in the international market. Drawing comparisons between the prices in 2000 and 2011, the Finance minister said that the price of crude oil has gone up...

RBI hikes repo, reverse repo rate by 25 basis points

The Reserve Bank of India has raised the repo rate and reverse repo rate by 25 basis points in its mid-quarter monetary policy review to check inflation. Inflation has shot up from 9.2 per cent in July to 9.8 per cent in August this year.The repo rate has been hiked to 8.25 per cent from 8 per cent,...

RBI rate hike to help inflation to comfortable level: FM

Finance Minister Pranab Mukherjee on Friday said the 25 basis points rate hike by the Reserve Bank will help in moderating inflation to a comfortable level without hurting growth.The Finance minister told reporters in New Delhi that, he was hopeful that measures taken by the RBI would get us back to...

RBI rate hike to help inflation to comfortable level: FM

Finance Minister Pranab Mukherjee on Friday said the 25 basis points rate hike by the Reserve Bank will help in moderating inflation to a comfortable level without hurting growth.The Finance minister told reporters in New Delhi that, he was hopeful that measures taken by the RBI would get us back to...

Jet Airways increases fuel surcharge

With jet fuel prices hiked by 2.5 per cent, Jet Airways today increased fuel surcharge on its tickets by 200 rupees with effect from tomorrow, raising airfares.Other airlines like Kingfisher and Air India are yet to take a decision in the matter.Aviation Turbine Fuel, ATF price at Delhi's T...

Congress expresses concern over Petrol price hike

Congress today expressed concerns over the Petrol price hike. Talking to reporters in New Delhi, party spokesman Rashid Alvi said that government must find out a way to reduce common man's miseries. He added that BJP ruled states should reduce the Value Added Tax and Sale Tax rather than po...

RBI rate hike not unreasonable: Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia today said the decision of the Reserve Bank to raise interest rates is a signal to bring inflation under control. He said the rate hike is within a range that is not unreasonable.Mr. Ahluwalia also expressed optimism that inflation will come...