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Nov 16, 2012

Exclusive: Indian officials concede new deficit target already looking doubtful

NEW DELHI (Reuters) – India will struggle to meet its already swollen deficit target this year after a dismal response to this week’s auction of mobile phone licenses and a battle to sell stakes in state companies, finance ministry officials privately concede.

Global rating agencies have threatened to downgrade India’s sovereign credit rating to junk if it fails to put its fiscal house in order.

Nov 16, 2012

Indian officials concede new deficit target already looking doubtful

NEW DELHI, Nov 16 (Reuters) – India will struggle to meet
its already swollen deficit target this year after a dismal
response to this week’s auction of mobile phone licences and a
battle to sell stakes in state companies, finance ministry
officials privately concede.

Global rating agencies have threatened to downgrade India’s
sovereign credit rating to junk if it fails to put its fiscal
house in order.

Nov 16, 2012

Govt will struggle to meet new deficit target: officials

NEW DELHI (Reuters) – India will struggle to meet its already swollen deficit target this year after a dismal response to this week’s 2G auction and a battle to sell stakes in state companies, finance ministry officials privately concede.

Global rating agencies have threatened to downgrade India’s sovereign credit rating to junk if it fails to put its fiscal house in order. Analysts said while the disappointing auction would likely not be a deciding factor, it underscored the challenges facing the government in trying to slash the deficit.

Nov 16, 2012

India will struggle to meet new 2012/2013 deficit target – govt officials

NEW DELHI, Nov 16 (Reuters) – India will struggle to meet
its already swollen deficit target this year after a dismal
response to this week’s auction of mobile phone licences and a
battle to sell stakes in state companies, Indian finance
ministry officials privately concede.

Global rating agencies have threatened to downgrade India’s
sovereign credit rating to junk if it fails to put its fiscal
house in order. Analysts said while the disappointing auction
would likely not be a deciding factor, it underscored the
challenges facing the government in trying to slash the deficit.

Nov 14, 2012

Indian airwaves auction well short of government goal

NEW DELHI/MUMBAI (Reuters) – India, battling a ballooning fiscal deficit, has raised less than a quarter of its 400 billion rupees ($7.3 billion) target in a cellphone airwaves auction seen as too pricey by carriers.

The low prices paid will provide respite to a debt-ridden industry suffering from heavy loans taken to pay for a previous sale of 3G mobile airwaves, even as intense competition keeps tariffs low and margins suppressed.

Nov 14, 2012

2G auction well short of govt goal

NEW DELHI/MUMBAI (Reuters) – India, battling a ballooning fiscal deficit, has raised less than a quarter of its 400 billion rupees target in the auction of second-generation (2G) mobile phone airwaves seen as too pricey by carriers.

The low prices paid will provide respite to a debt-ridden industry suffering from heavy loans taken to pay for a previous sale of 3G mobile airwaves, even as intense competition keeps tariffs low and margins suppressed.

Nov 14, 2012

Indian airwaves auction well short of govt goal

NEW DELHI/MUMBAI, Nov 14 (Reuters) – India, battling a
ballooning fiscal deficit, has raised less than a quarter of its
400 billion rupees ($7.3 billion) target in a cellphone airwaves
auction seen as too pricey by carriers.

The low prices paid will provide respite to a debt-ridden
industry suffering from heavy loans taken to pay for a previous
sale of 3G mobile airwaves, even as intense competition keeps
tariffs low and margins suppressed.

Nov 12, 2012

Auction of 2G airwaves opens to muted response

NEW DELHI (Reuters) – An auction of 2G mobile phone airwaves attracted nearly $2 billion worth of bids on Monday but no interest for four zones in a process some carriers have said is too pricey.

The government received bids worth more than 92 billion rupees by the end of the fifth round of the auction, out of seven held on the day, Telecommunications Secretary R. Chandrashekhar said, though he said there had been no demand yet in the Delhi, Mumbai, Karnataka and Rajasthan zones.

Nov 12, 2012

India telecom airwaves sale opens to muted response

NEW DELHI, Nov 12 (Reuters) – India’s auction of 2G mobile
phone airwaves attracted nearly $2 billion worth of bids on
Monday but no interest for four zones in a process some carriers
have said is too pricey.

The government received bids worth more than 92 billion
rupees ($1.7 billion) by the end of the fifth round of the
auction, out of seven held on the day, Telecommunications
Secretary R. Chandrashekhar said, though he said there had been
no demand yet in the Delhi, Mumbai, Karnataka and Rajasthan
zones.

Nov 12, 2012

Dismal trade, IIP data deepen economy fears

NEW DELHI (Reuters) – India’s economic gloom deepened on Monday with a surprise contraction in industrial production, a fall in exports and higher retail inflation, dashing hopes of a quick revival in an economy on track to post its slowest growth in a decade.

The data will add pressure on the government to boost economic growth by fast-tracking stalled tax and regulatory reforms. It will also bolster calls for an interest rate cut by the country’s central bank, which has so far ruled out any before January, citing high inflation.

    • About Arup

      "I cover India's economic policies, and the people behind them, out of New Delhi. I also write on defence matters affecting the world's largest arms importer and contribute to the political and general file. I started my career with the Reuters Bangalore bureau in 2008."
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