Manoj's Feed
Feb 28, 2015

India’s Jaitley unveils budget for growth, investment

NEW DELHI (Reuters) – India’s Finance Minister Arun Jaitley announced a budget for growth on Saturday, saying the economy was ready to “fly”, that the government would boost investment and ordinary people should benefit.

Jaitley, delivering his first full-year budget since Prime Minister Narendra Modi’s landslide election victory last May, said economic growth would accelerate to between 8 and 8.5 percent in the fiscal year starting in April.

Feb 27, 2015

India in ‘sweet spot’ of lower deficits, more growth: government

NEW DELHI (Reuters) – India can increase investment to drive economic growth without borrowing more, a key government report said on Friday, in an indication that Finance Minister Arun Jaitley will stick to debt targets in his maiden full-year budget on Saturday.

The Economic Survey, the basis for Jaitley’s budget for the fiscal year starting April 1, forecast growth of 8.1 percent to 8.5 percent under new calculations that make India the world’s most dynamic big economy. The forecast marks an acceleration from growth of 7.4 percent in the current fiscal year.

Feb 27, 2015

India in “sweet spot” of lower deficits, more growth – Economic Survey

NEW DELHI (Reuters) – India can increase public investment to drive growth without borrowing more, a key government report said on Friday, in an indication that Finance Minister Arun Jaitley will stick to debt targets in his maiden full-year budget on Saturday.

The economic survey, the basis for Jaitley’s budget for the fiscal year starting April 1, forecast the economy would grow by 8.1-8.5 percent under a new calculation method that makes India the world’s top-growing big economy.

Feb 27, 2015

India in “sweet spot” of lower deficits, more growth – govt

NEW DELHI, Feb 27 (Reuters) – India can increase public
investment to drive growth without borrowing more, a key
government report said on Friday, in an indication that Finance
Minister Arun Jaitley will stick to debt targets in his maiden
full-year budget on Saturday.

The economic survey, the basis for Jaitley’s budget for the
fiscal year starting April 1, forecast the economy would grow by
8.1-8.5 percent under a new calculation method that makes India
the world’s top-growing big economy.

Feb 26, 2015

India aims to invest $137 bln in railways in next 5 years

NEW DELHI, Feb 26 (Reuters) – India will increase investment
in its overloaded railway network to 8.5 trillion rupees ($137
billion) over the next five years, the government said on
Thursday, promising to modernise existing tracks but shying away
from raising fares to fund the expansion.

Presenting the railway budget just two days before the
government delivers its first full annual federal budget,
Railway Minister Suresh Prabhu said it would “set the direction
of a long and difficult road of reform.”

Feb 26, 2015

India aims to invest $137 billion in railways in next five years

NEW DELHI (Reuters) – India will increase investment in its overloaded railway network to 8.5 trillion rupees ($137 billion) over the next five years, the government said on Thursday, promising to modernise existing tracks but shying away from raising fares to fund the expansion.

Presenting the railway budget just two days before the government delivers its first full annual budget, Railway Minister Suresh Prabhu said it would “set the direction of a long and difficult road of reform.”

Feb 25, 2015

Budget may back off fertiliser subsidy reform

NEW DELHI (Reuters) – Investors looking for India’s budget on Saturday to tackle fertiliser subsidies are likely to be disappointed, because sources say the government plans to largely maintain the current regime.

The government was widely expected to deregulate urea prices after freeing up diesel following a fall in crude prices, but two government sources told Reuters major changes were unlikely.

Feb 25, 2015

India’s budget may back off fertiliser subsidy reform

NEW DELHI, Feb 25 (Reuters) – Investors looking for India’s
budget on Saturday to tackle fertiliser subsidies are likely to
be disappointed, because sources say the government plans to
largely maintain the current regime.

The government was widely expected to deregulate urea prices
after freeing up diesel following a fall in crude prices, but
two government sources told Reuters major changes were unlikely.

Feb 25, 2015

India to embark on rail investment splurge thanks to cheap oil

NEW DELHI, Feb 25 (Reuters) – India’s decrepit state-run
train services stand to receive at least a 25 percent boost in
investment to over $9 billion, funded solely by falling fuel
costs, according to officials familiar with a railway budget set
to be unveiled on Thursday.

The world’s fourth largest rail network could get even more
if Prime Minister Narendra Modi makes it a priority, as China
did during its rapid economic growth over the past two decades.

Feb 20, 2015

Subsidy cuts in budget may disappoint investors

NEW DELHI (Reuters) – India may slash its food and fuel subsidy bill by about $8 billion in next week’s budget, two sources said, but despite the impressive headline, the cut is not as radical as free market champions had hoped for in Prime Minister Narendra Modi’s first full budget.

Most of the 20 percent cut in the budget for subsidies results from lower global oil prices rather than structural changes, with the government’s appetite for reform tempered by a heavy local election defeat in New Delhi this month.