Arun Jaitley to attend inaugural meet of BRICS Bank

Finance Minister Arun Jaitley will leave for Russia today to participate in the inaugural meeting of the BRICS-backed New Development Bank. A Finance Ministry statement said, in the first leg of his official visit, Mr Jaitley will reach Moscow, where he will participate in the inaugural meeting of t...

Govt says India insulated from Greece fallout; Rupee may get hit

With Greeks' rejection of rescue package from creditors spooking markets, the government today asserted that India is well insulated from the crisis but rupee may be affected due to the outward flight of investment. Chief Economic Advisor Arvind Subramanian told reporters in New Delhi today...

Centre has managed to bring down number of 'stalled projects': HSBC

The government has managed to bring down the number of 'stalled projects' to its lowest level in over three years, but any pick-up in new investment projects is still a few quarters away, a new survey by global banker HSBC has found. In a research note HSBC has said that since Marc...

Jaitley to leave for Russia tomorrow to attend BRICS-backed New Development Bank meet

Finance Minister Arun Jaitley will leave for Russia tomorrow to participate in the inaugural meeting of the BRICS-backed New Development Bank. During the four-day visit, he will also be participating at the functions on the sidelines of the BRICS Summit at Ufa which is being attended by Prime Minist...

TN Generation & Distribution Corp inks MoU with Adani

The Tamil Nadu Generation and Distribution Corporation has signed a Memorandum of Understanding with the industrial group Adani on Saturday in Chennai for an investment worth Rs 4536 crore in solar power sector.The agreement was signed this noon in presence of state Chief Minister J.Jayalalithaa at ...

FDI in manufacturing of tobacco products prohibited: RBI

Reserve Bank has said that Foreign Direct Investment in manufacturing of tobacco products is prohibited, though activities such as retail and wholesale trading fall under the sectoral restrictions.In a notification issued on Friday, RBI said Foreign Direct Investment (FDI) is prohibited in the manuf...

Forex reserves dips to $ 355.22 billion

India's services sector contracts again in June: Survey

Raising concerns about India's economic growth momentum, a survey today showed that the services sector contracted for the second consecutive month in June as new orders declined for the first time in 14 months. The deterioration in the key services sector, coupled with weakening manufactur...

India's Seafood exports touch all time high of Rs 33,441 crore

Seafood exports from the country touched an all time high of Rs 33,441 crore during the last financial year. According to the figures released by the Marine Products Export Development Authority, MPEDA, in Kochi, the marine product exports from India crossed all previous records in quantity, rupee v...

Economy picking up, need more reforms for strong growth: Rajan

Confident of economic recovery, RBI Governor Raghuram Rajan said capital investments are improving but a stronger growth would require more reforms and clearing bottlenecks for stalled projects. Rajan, known for critical analysis of macroeconomic trends, however said that subdued exports, primarily ...