Search Results for: fiscal deficit

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India will fully finance current account deficit: Arvind Mayaram

New Delhi, Oct 01 (ANI): India's Economic Affairs Secretary, Arvind Mayaram, said on Tuesday that the country would finance its current account deficit fully in the fiscal year ending March without drawing down on its reserves, and would also contain the fiscal deficit at 4.8 percent of GDP. He also said that economic growth will pick up in the second half of the fiscal year. Mayaram while addressing a news conference in New Delhi expressed confidence and said that they would be able to contain the current account deficit. Mayaram added that the government would not have to go beyond the finance ministry's planned market borrowing for the year, and would be able to meet its budgeted revenue target. Mayaram also said that the elevated level of current account deficit was mainly due to gold imports. Oct 1, 2013
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Ajmer: Gehlot inaugurates Government Hospital worth 32 Crore Rupees

Ajmer, Sep 28 (ANI): While inaugurating a government hospital in Kekeri block of Ajmer worth 32 crore rupees, Rajasthan Chief Minister, Ashok Gehlot recently said that the state was now standing in front row of developed states of the country. He further said that the road to development will continue in future as people realized that they are getting the programs which were required. Gehlot also asserted that for all programs for common people, the government had never cried for budget deficit and provided services to people. Meanwhile the union minister Sachin Pilot who was present at the occasion said that the UPA government had always supported the state to develop and get facilities. Sep 28, 2013
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Big trade deficit with China not sustainable in long run: Commerce ministry

New Delhi, Sept 24 (ANI): Commerce Ministry said that the widening trade deficit with China is a matter of concern and not sustainable in the long run, as representatives from both countries met to explore greater business opportunities between the countries. India-China Business Matchmaking Symposium in New Delhi was organised by the Confederation of Indian Industry (CII) and Trade Development Bureau (TDB) of China, in the backdrop of exponential growth in the trade sector between the two countries in the last few years. The Chinese business delegation headed by Vice Director General of Chinese Trade Development Bureau (TDB) Jia Guoyong consisted of delegates from various sectors of business and trade. Sep 24, 2013
big-trade-deficit-with-china-not-sustainable-in-long-run-commerce-ministry

Big trade deficit with China not sustainable in long run: Commerce ministry

New Delhi, Sept 24 (ANI): Commerce Ministry said that the widening trade deficit with China is a matter of concern and not sustainable in the long run, as representatives from both countries met to explore greater business opportunities between the countries. India-China Business Matchmaking Symposium in New Delhi was organised by the Confederation of Indian Industry (CII) and Trade Development Bureau (TDB) of China, in the backdrop of exponential growth in the trade sector between the two countries in the last few years. The Chinese business delegation headed by Vice Director General of Chinese Trade Development Bureau (TDB) Jia Guoyong consisted of delegates from various sectors of business and trade. Sep 24, 2013
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Government to ease taxation for IT sector

New Delhi, Sept 19 (ANI): In its draft proposal, the Revenue Department of Finance Ministry has proposed lessening of taxation burden for the IT sector so as to enable those engaged in this segment to safely harbour their profits. Revenue Secretary Sumit Bose stated this at a news conference in New Delhi. He said the government had issued a notification with an objective to curb the disputes related to transfer pricing by relaxing the prevailing norms. Further he said that the proposed norms, if finalized, would prevail for five fiscal years. Sep 19, 2013
government-to-ease-taxation-for-it-sector

Government to ease taxation for IT sector

New Delhi, Sept 19 (ANI): In its draft proposal, the Revenue Department of Finance Ministry has proposed lessening of taxation burden for the IT sector so as to enable those engaged in this segment to safely harbour their profits. Sep 19, 2013
rangarajan-cuts-fy14-gdp-growth-estimate-to-5-3-percent

Rangarajan cuts FY14 GDP growth estimate to 5.3 percent

New Delhi, Sep 13 (ANI): India's economy is expected to grow 5.3 percent this fiscal year, sharply lower than an earlier estimate of 6.4 percent but higher than last year, the prime minister's economic advisory panel said on Friday. The revised forecast is roughly in line with projections of the RBI and many private economists, who expect Asia's third-largest economy to grow at around 5 percent, the same level as in 2012-2013. A pick-up in automobile production and exports in August indicated that the manufacturing sector would do better in the second half than the first, said C. Rangarajan, the chairman of the Prime Minister's Economic Advisory Council. The advisory council also said that containing the fiscal deficit within the budgeted target of 4.8 percent of gross domestic product could be a challenge. Sep 13, 2013
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Oil Prices to Rocket Even Without Syria Crisis?

Indian oil minister Veerappa Moily is expected to announce fresh measures to control fuel consumption in India on 16 Septemeber, amid concerns of a US-armed military intervention in Syria. Sep 6, 2013
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