Manoj's Feed
Jul 6, 2014

Modi to target record asset sales in budget – source

NEW DELHI (Reuters) – The government will seek to raise up to a record $11.7 billion in asset sales in its maiden budget this week, a senior government source said, bolstering state finances and buying time for structural reforms to revive a weak economy.

The privatisation target could reach 700 billion rupees, almost equal to all proceeds over the last four years, in a budget Prime Minister Narendra Modi hopes will launch the growth and jobs agenda that in May won him India’s biggest election mandate in three decades. The budget is due on Thursday.

Jul 6, 2014

India’s Modi to target record asset sales in first budget -source

NEW DELHI, July 6 (Reuters) – India’s new government will
seek to raise up to a record $11.7 billion in asset sales in its
maiden budget this week, a senior government source said,
bolstering state finances and buying time for structural reforms
to revive a weak economy.

The privatisation target could reach 700 billion rupees,
almost equal to all proceeds over the last four years, in a
budget Prime Minister Narendra Modi hopes will launch the growth
and jobs agenda that in May won him India’s biggest election
mandate in three decades. The budget is due on Thursday.

Jul 2, 2014

Jaitley talks tough on Indian budget, shares hit record highs

NEW DELHI (Reuters) – Finance Minister Arun Jaitley’s warning against “mindless populism” propelled Indian stocks to record highs on Wednesday, as investors bet that his maiden budget next week will stabilize the wobbly public finances.

Jaitley’s comments reinforced expectations that he will curb the state’s subsidy bill while taking advantage of the strong stock market to raise more than $10 billion by selling stakes in state companies.

Jul 2, 2014

Arun Jaitley talks tough on budget, Sensex hits life high

NEW DELHI (Reuters) – Finance Minister Arun Jaitley’s warning against “mindless populism” propelled Indian stocks to record highs on Wednesday, as investors bet that his maiden budget next week will stabilise the wobbly public finances.

Jaitley’s comments reinforced expectations that he will curb the state’s subsidy bill while taking advantage of the strong stock market to raise more than $10 billion by selling stakes in state companies.

Jul 1, 2014

Arun Jaitley says “mindless populism” needs to be checked

NEW DELHI (Reuters) – A high fiscal deficit and inflation are major challenges for India, Finance Minister Arun Jaitley said on Tuesday, adding that “mindless populism” in policymaking needed to be checked.

His comments will add to expectations that Jaitley could unveil tough fiscal consolidation measures in his first annual budget on July 10.

Jul 1, 2014

India’s Jaitley says “mindless populism” needs to be checked

NEW DELHI, July 1 (Reuters) – A high fiscal deficit and
inflation are major challenges for India, Finance Minister Arun
Jaitley said on Tuesday, adding that “mindless populism” in
policymaking needed to be checked.

His comments will add to expectations that Jaitley could
unveil tough fiscal consolidation measures in his first annual
budget on July 10.

Jun 30, 2014

Delayed monsoon hits dairies, souring inflation outlook

MEWAT India (Reuters) – Jai Prakash Sharma looked gloomily into the chilling tanks at the Mewat milk cooperative: they are only half full these days, thanks to a delay in India’s annual monsoon rains that has robbed cattle fodder of nutritious moisture.

“If there are not sufficient rains in the next few days, some farmers may start selling animals for slaughtering,” said Sharma, manager of a cooperative in Haryana that supplies milk to the capital, New Delhi.

Jun 30, 2014

Delayed monsoon hits India’s dairies, souring inflation outlook

MEWAT, India, July 1 (Reuters) – Jai Prakash Sharma looked
gloomily into the chilling tanks at the Mewat milk cooperative:
they are only half full these days, thanks to a delay in India’s
annual monsoon rains that has robbed cattle fodder of nutritious
moisture.

“If there are not sufficient rains in the next few days,
some farmers may start selling animals for slaughtering,” said
Sharma, manager of a cooperative in the northern state of
Haryana that supplies milk to the country’s capital, New Delhi.

Jun 18, 2014

Iraq-driven oil spike threatens to blow hole in budget – sources

NEW DELHI (Reuters) – The government expects oil prices to rise as high as $120 per barrel for several months because of fighting in Iraq, potentially driving a hole of at least 200 billion rupees ($3.3 billion) in the budget, two government sources told Reuters.

Prime Minister Narendra Modi won last month’s general election by a landslide with promises of faster economic growth and new jobs, tapping into voter anger over India’s longest slowdown in a quarter of a century.

Jun 18, 2014

Iraq-driven oil spike threatens to blow hole in Indian budget – sources

NEW DELHI, June 18 (Reuters) – India’s government expects
oil prices to rise as high as $120 per barrel for several months
because of fighting in Iraq, potentially driving a hole of at
least 200 billion rupees ($3.3 billion) in the budget, two
government sources told Reuters.

Prime Minister Narendra Modi won last month’s general
election by a landslide with promises of faster economic growth
and new jobs, tapping into voter anger over India’s longest
slowdown in a quarter of a century.