Manoj's Feed
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.

Dec 12, 2014

Exclusive: India to reap $12 billion-plus budget windfall from oil slide – sources

NEW DELHI (Reuters) – A plunge of nearly half in oil prices could help Indian Finance Minister Arun Jaitley reap a fiscal windfall of at least $12 billion when he presents his 2015/16 budget in February, two government sources told Reuters.

The savings would come in the form of reduced fuel subsidy costs and higher petrol and diesel levies, the sources said. In addition, finance ministry officials have proposed restoring a crude oil import duty that was scrapped in 2011.

Dec 12, 2014

India to reap $12 billion-plus budget windfall from oil slide – sources

NEW DELHI, Dec 12 (Reuters) – A plunge of nearly half in oil
prices could help Indian Finance Minister Arun Jaitley reap a
fiscal windfall of at least $12 billion when he presents his
2015/16 budget in February, two government sources told Reuters.

The savings would come in the form of reduced fuel subsidy
costs and higher petrol and diesel levies, the sources said. In
addition, finance ministry officials have proposed restoring a
crude oil import duty that was scrapped in 2011.

Dec 11, 2014

India’s falling inflation seen improving chances of rate cut

NEW DELHI (Reuters) – India’s retail inflation probably hit a record low in November thanks to falling prices for oil and food items, building the case for the central bank to lower interest rates early next year.

The government will release the latest consumer price index data later on Friday.

Dec 11, 2014

Falling inflation seen improving chances of rate cut

NEW DELHI (Reuters) – India’s retail inflation probably hit a record low in November thanks to falling prices for oil and food items, building the case for the central bank to lower interest rates early next year.

The government will release the latest consumer price index data later on Friday.

Dec 10, 2014

India agrees to cut stakes in state banks; could raise $26 bln

NEW DELHI, Dec 10 (Reuters) – India’s cabinet approved plans
to raise about 1.6 trillion rupees ($25.76 billion) by selling
some of its stakes in state-run banks by 2019, a government
statement said on Wednesday.

The government holds stakes ranging from 56 percent to 84
percent in 27 state-run banks. They account for 70 percent of
total outstanding loans of about $1 trillion in Asia’s
third-largest economy.

Dec 4, 2014

Govt to start fiscal 2015 divestment drive with $275 million SAIL share sale

NEW DELHI/MUMBAI (Reuters) – India will kick off its ambitious divestment programme for the current fiscal year, key for meeting the budget deficit target, with the sale of a 5 percent stake to raise up to $275 million in state-run Steel Authority of India Ltd (SAIL) on Friday.

The floor price for the share auction of SAIL has been set at 83 rupees apiece, compared with Thursday’s closing price of 85.25 rupees. The steel maker’s stock has risen 18.2 percent this year, lagging a near 36 percent rise in the broader market.

Dec 4, 2014

India to start fiscal 2015 divestment drive with $275 mln share sale

NEW DELHI/MUMBAI, Dec 4 (Reuters) – India will kick off its
ambitious divestment programme for the current fiscal year, key
for meeting the budget deficit target, with the sale of a
5-percent stake to raise up to $275 million in state-run Steel
Authority of India Ltd on Friday.

The floor price for the share auction of SAIL has been set
at 83 rupees apiece, compared with Thursday’s closing price of
85.25 rupees. The steel maker’s stock has risen 18.2 percent
this year, lagging a near 36 percent rise in the broader market.