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PM Narendra Modi announces scrapping of Planning Commission

New Delhi, Aug 15 (ANI): Prime Minister Narendra Modi on Friday said that a new institution would be formed in place of the planning commission. The Planning Commission is an institution in the Government of India, which formulates the country's Five-Year Plans, among other functions. Modi also reached out to global investors on Friday, asking them to come and manufacture goods in India. He laid emphasis on IT and related industry, and said the country must come to be regarded as "Digital India" and benefit from the manufacture of electronics instead of imports. Earlier today, the Prime Minister unfurled the flag in the central court of Red Fort, after inspecting the guard of honour. After hoisting the National Flag from the ramparts of Red Fort, he began his addressal to the nation. The Prime Minister also paid homage at the Rajghat before reaching the Red Fort.

Aug 15, 2014

Modi's I-Day Promises for Economy: Boost for Manufacturing, Exports, Farming and Tourism

Manufacturing, Exports, Farming and Tourism to Get Boost if Modi's I-Day Promises Bear Fruit

Aug 15, 2014

President Pranab Mukherjee's Independence Day Speech -- Full Text

Full text of President Pranab Mukherjee's Independence Day Speech

Aug 15, 2014

Government to Raise ₹40,000 Cr via PSU Stake Sales in 2 Months

The government is looking to raise around Rs 40,000 crore in the next two months to meet its FY15 disinvestment target of Rs 58,425 crore,

Aug 13, 2014

IOC, BPCL, HPCL to Get ₹11,000 Crore Subsidy in Q1

The Indian government has decided to pay oil retailers Indian Oil Corporation (IOC), Bharat Petroleum Corp and Hindustan Petroleum Corp Rs.11, 000 crore in subsidy for the first quarter.

Aug 11, 2014

US Warplanes Strike Islamic State Artillery in Northern Iraq

U.S. warplanes struck Iraq on Friday for the first time since American troops pulled out in 2011.

Aug 8, 2014

Indian Stocks Record Second Consecutive Weekly Fall on Geopolitical Issues

BSE Sensex and NSE Nifty ended one percent lower on Friday.

Aug 8, 2014

Shares of Gujarat State Petronet Slip on 32% Quarterly Loss

Stocks of Gujarat State Petronet fell 3.68 percent to Rs.82.50 per share at 11 am during trading hours on Friday. The shares fell after the company posted its declined revenue results due to lower operational income.

Aug 8, 2014

a-passenger-outside-the-spicejet-airlines-ticket-counter-at-the-domestic-airport-on-the-outskirts-of-agartala

Maran to Sell Majority Stake in SpiceJet, 10% Salary Hike after 3 Years

The airline posted a loss of ₹1,003.24 crore in the previous financial year.

Aug 8, 2014

RCom Receives ₹650 Cr from Promoter Group Telecom

Reliance Communications on Thursday announced that it has received the first instalment of Rs 650 crore from Telecom Infrastructure Finance.

Aug 7, 2014

FDI in railways and defence draws mixed reactions

New Delhi, Aug 07 (ANI): Expert and political leaders on Thursday said that central government's move to allow foreign direct investment (FDI) in railways and defence sectors would not give private sector much control, adding it was not fit for citizens of the country. The cabinet approved a plan to raise the amount of FDI allowed in its defence and railways industries, part of Prime Minister Narendra Modi's efforts to attract more foreign cash and revive the economy. The government is to increase the foreign investment limit in the defence industry to 49 percent from 26 percent. Defence expert, Commodore (retired) Uday Bhaskar, said with 49 percent, bigger companies won't get much control. Meanwhile, BSP chief Mayawati, said the BJP should hold a discussion on the matter. Senior CPI (M) leader Sitaram Yechury, said the policy would only benefit investors.

Aug 7, 2014