Manoj's Feed
Feb 10, 2015

India aims to amend arbitration law to lure foreign investors

NEW DELHI (Reuters) – India plans to amend its arbitration law, setting time limits for courts and easing judicial rules to decide corporate disputes, as it seeks to attract more foreign investment, Law Minister Sadananda Gowda said on Tuesday.

Many domestic and foreign companies, such as British telecoms major Vodafone (VOD.L: Quote, Profile, Research), prefer Singapore, Hong Kong and London as arbitration venues, since winning final settlements from Indian courts can take years.

Feb 10, 2015

India’s 2015/16 budget to assume growth of 8-plus pct – source

NEW DELHI (Reuters) – Revisions to India’s economic output data mean that Finance Minister Arun Jaitley’s upcoming budget should assume that the economy will grow by at least 8 percent in the 2015/16 fiscal year, a government source told Reuters on Tuesday.

India has changed the way it measures economic activity to conform with international standards, resulting in huge upward revisions to growth figures but a small downward adjustment to the size of Asia’s third-largest economy.

Feb 9, 2015

It’s official: India is the world’s fastest growing big economy

NEW DELHI (Reuters) – India on Monday forecast that annual economic growth would accelerate to 7.4 percent in the year ending in March after its statisticians changed the way they measure Asia’s third-largest economy.

The new estimate is sharply higher than the Reserve Bank of India’s (RBI) growth projection of around 5.5 percent under the old method as well as a revised 6.9 percent growth a year earlier.

Feb 4, 2015

Falling oil prices pull India’s budget out of the fire

NEW DELHI, Feb 5 (Reuters) – Falling oil prices have been a major windfall
for India: Just weeks ago it faced failing to meet fiscal deficit targets, but
can now expect a budget that not only hits its targets, but also provides extra
cash to support reform.

The coming budget for fiscal 2015/16 (April-March), which will be unveiled
on Feb. 28, is widely seen as a test of Prime Minister Narendra Modi’s ability
to lead economic reform.

Jan 30, 2015

Economic growth revised up by almost 50 percent

NEW DELHI (Reuters) – India’s economy grew almost 50 percent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers.

In the year leading up to the elections that brought Prime Minister Narendra Modi to power last May, the economy grew 6.9 percent, not the 4.7 percent reported earlier, chief statistician T.C.A. Anant told reporters.

Jan 30, 2015

India’s economic growth revised up by almost 50 percent

NEW DELHI, Jan 30 (Reuters) – India’s economy grew almost 50
percent faster in 2013/14 than earlier thought, the government
said on Friday after changing a formula, a reminder of the
challenges that unreliable statistics present to Indian
policymakers.

In the year leading up to the elections that brought Prime
Minister Narendra Modi to power last May, the economy grew 6.9
percent, not the 4.7 percent reported earlier, chief
statistician T.C.A. Anant told reporters.

Jan 23, 2015

India readies PFC, others for sell-off as fiscal deadline looms

NEW DELHI, Jan 23 (Reuters) – India is likely to sell a 5
percent stake in both Power Finance Corporation Ltd (PFC)
and Dredging Corporation of India Ltd as it
races to narrow its fiscal gap to a targetted seven-year low by
March, when the financial year ends.

“Five percent of the shares of PFC could be sold next week,”
a senior finance ministry official said on Friday, declining to
be named as he was not authorised to speak to the media.

Jan 12, 2015

Weak recovery seen in industrial output as PM Modi courts investors

NEW DELHI (Reuters) – Held back by weak demand at home and abroad, Indian industrial output probably made a tepid recovery late last year, underscoring the challenges faced in 2015 by Prime Minister Narendra Modi as he seeks to woo global investors this week.

To accelerate the recovery in Asia’s third largest economy from its longest slowdown since the 1980s, Modi has pushed through a raft of economic reforms, mostly by executive orders.

Jan 12, 2015

Weak recovery seen in Indian output as Modi courts investors

NEW DELHI, Jan 12 (Reuters) – Held back by weak demand at
home and abroad, Indian industrial output probably made a tepid
recovery late last year, underscoring the challenges faced in
2015 by Prime Minister Narendra Modi as he seeks to woo global
investors this week.

To accelerate the recovery in Asia’s third largest economy
from its longest slowdown since the 1980s, Modi has pushed
through a raft of economic reforms, mostly by executive orders.

Jan 11, 2015

India’s industrial output likely recovers as Modi pushes reforms

NEW DELHI (Reuters) – Indian industrial output probably made a tepid recovery late last year due to weak demand at home and abroad, underscoring the challenges faced in 2015 by Prime Minister Narendra Modi as woos global investors this week.

To accelerate the recovery in Asia’s third largest economy from its longest slowdown since the 1980s, Modi has pushed through a raft of economic reforms, mostly by executive orders.