Search Results for: fiscal deficit

Diesel Cars May Turn Costlier, Special Tax of ₹255,000 On Cards

Oil Minister S Jaipal Reddy recommended a hike in excise duty to be imposed on diesel-based vehicles. The proposed levies, it is said, will be as steep as INR 255,000 for sedans and sports or multi utility vehicles, while smaller vehicles will be slapped with an excise tax of INR 170,000.

Jun 13, 2012

Indian Economy To Grow at 6.9% For 2012: World Bank

The Indian economy is set to grow 6.9 percent in the current financial year as projected by the World Bank on Wednesday.

Jun 13, 2012

India's Economic Growth Will Slowdown to 6.7%, says United Nations

India's growth story sees no sign of significant revival, with the United Nations on Thursday forecasting the nation's economic growth at 6.7 percent for 2012.

Jun 8, 2012

India Adopts Austerity Plan; Analysts Say Measures Won't Impact Unproductive Expenditures

Prompted by the growing fiscal deficit, the Indian government on Thursday announced several austerity measures in an attempt to curtail unproductive expenditures for the current fiscal.

Jun 1, 2012

Moody's Positive on India's Ratings Despite Depreciating Rupee

Rating agency Moody's has said that India's sovereign ratings will remain intact despite the depreciating rupee.

May 28, 2012

Goldman Sachs, Bank of America Downgrade India's Growth Outlook

India's growth story comes crashing with Goldman Sachs and Bank of America-Merrill Lynch being the latest global firms to downgrade economic forecasts for the country on Friday.

May 25, 2012

a-gas-nozzle-is-used-to-pump-petrol-at-a-station

Petrol Price Hike: 5 things to Watch Out For

The announcement of the government to hike petrol price by Rs 7.50 per litre, which will come into effect on Thursday, has not gone down too well with the public and government allies. The Bharatiya Janata Party (BJP) is even planning a nation-wide bandh to demand immediate rollback of the petrol price hike.

May 24, 2012

HP to Lay Off 27000 Employees, Expects to Save Over $3 Billion Annually

Following declining profits and stiff competition from rival companies, tech firm Hewlett-Packard (HP) has decided to lay off 27,000 jobs by 2014.

May 24, 2012

Rupee Plunges To New Low Of 55.87/$ Amid RBI Intervention

The rupee plunged to a new low of 55.87 in the early Wednesday trade, marking its sixth consecutive record low against the US dollar.

May 23, 2012

Rupee Could Slide To 60 Against Dollar, Says Citigroup: Report

The Citigroup has reportedly said the Indian rupee may dive south further to touch 60 against the US dollar.

May 18, 2012

Rupee Sinks To Record Low; India's Finance Minister Pranab Mukherjee Says Austerity Needed

The rupee on Wednesday closed at a record low of 54.49 against the U.S. dollar, prompting calls for quick government measures to curb volatility.

May 16, 2012

BSE Sensex Falls Again; S&P Rating Affects Indian Stocks

The BSE Sensex fell for a second session in a row on Thursday, as the investors get cautious after the rating agency Standard & Poor's cut India's outlook to negative from stable on Wednesday.

Apr 26, 2012

S&P and Moody's Give Contradictory Ratings on India's Outlook

Rating agencies Standard & Poor's and Moody's have caused confusion with their contradictory ratings on India's outlook. The former cuts India's outlook from stable to negative in its latest rating while the latter says it's stable.

Apr 26, 2012

Standard & Poor's Downgrades India's Outlook, Rates Negative; Don't Panic, Says Pranab

Standard & Poor's has cut India's outlook to negative from stable on Wednesday. The ratings agency downgraded the country's outlook on account of large fiscal deficit, not very impressive reforms, fall in stocks and rupee.

Apr 25, 2012

India's economy Expected to Recover; More Repo Rate Cut Possible

Just on the heels of the Reserve Bank of India (RBI) cutting interest rates for the first time in three years by 50 basis points to boost economic growth, a poll conducted by Reuters expected India's economy to pick up this year. There is also possibility of RBI resorting to more cut in repo rate.

Apr 19, 2012

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