Manoj's Feed
Sep 9, 2014

India to revise GDP measurement next year, economy may be larger

NEW DELHI (Reuters) – India will soon revise the way it measures gross domestic product to reflect under-represented and informal economic sectors, two government sources said, in an initiative that is expected to show the economy is larger than previously thought.

India usually revises the method of calculating national accounts and other macro data every five years, bringing in a newer base year and adjusting for changes in the economy.

Sep 7, 2014

No quick fix for coal supply crisis – minister

NEW DELHI (Reuters) – The government on Sunday blamed cost overruns at coal projects and $50 billion in losses at state electricity distributors for a power crisis that has become the first test of Prime Minister Narendra Modi’s management of the economy.

Power and Coal Minister Piyush Goyal warned that it would take years to alleviate coal supply shortages, which have reduced stocks at thermal power stations to their lowest since a huge blackout in 2012 cut off 620 million people.

Sep 7, 2014

No quick fix for India’s coal supply crisis – minister

NEW DELHI, Sept 7 (Reuters) – The Indian government on
Sunday blamed cost overruns at coal projects and $50 billion in
losses at state electricity distributors for a power crisis that
has become the first test of Prime Minister Narendra Modi’s
management of the economy.

Power and Coal Minister Piyush Goyal warned that it would
take years to alleviate coal supply shortages, which have
reduced stocks at thermal power stations to their lowest since a
huge blackout in 2012 cut off 620 million people.

Sep 5, 2014

Australia’s Abbott offers uranium, coal to energy-starved India

NEW DELHI, Sept 5 (Reuters) – Australian Prime Minister Tony
Abbott said he would seal a civil nuclear deal to sell uranium
to India on Friday, offering to ramp up supplies of energy to
help the emerging Asian giant overcome chronic shortages.

Prime Minister Narendra Modi greeted Abbott with full state
honours during his two-day visit to India. The two leaders were
due to hold formal talks later and sign the deal to sell uranium
for peaceful power generation.

Aug 28, 2014

Modi: Banking for all to end “financial untouchability”

NEW DELHI (Reuters) – Prime Minister Narendra Modi promised on Thursday to end “financial untouchability” with a scheme to ensure the majority of households in his country of nearly 1.3 billion people has a bank account within months.

If successful, the scheme could help mend strained state finances by better targeting billions of dollars in welfare spending as well as relieving poverty in a country where about 40 percent of the population has no access to banking.

Aug 28, 2014

India’s Modi: Banking for all to end “financial untouchability”

NEW DELHI, Aug 28 (Reuters) – Indian Prime Minister Narendra
Modi promised on Thursday to end “financial untouchability” with
a scheme to ensure the majority of households in his country of
nearly 1.3 billion people has a bank account within months.

If successful, the scheme could help mend strained state
finances by better targeting billions of dollars in welfare
spending as well as relieving poverty in a country where about
40 percent of the population has no access to banking.

Aug 22, 2014

U.S.-based economist poised to become Indian govt adviser

NEW DELHI (Reuters) – U.S.-based economist Arvind Subramanian is poised to be named as chief economic adviser to Indian Prime Minister Narendra Modi’s government, two sources at the finance ministry said on Friday.

If confirmed, the appointment would bring a second economist of international renown to a key policy post following the naming of former International Monetary Fund chief economist Raghuram Rajan as central bank chief last year.

Aug 22, 2014

Arvind Subramanian likely to be chief econ adviser

NEW DELHI (Reuters) – U.S.-based economist Arvind Subramanian is poised to be named as chief economic adviser to Prime Minister Narendra Modi’s government, two sources at the finance ministry said on Friday.

If confirmed, the appointment would bring a second economist of international renown to a key policy post following the naming of former International Monetary Fund chief economist Raghuram Rajan as Reserve Bank of India chief last year.

Aug 20, 2014

Govt begins revamp of Food Corporation of India to cut waste, tame prices

NEW DELHI (Reuters) – India has set up a panel to suggest an overhaul of a state-run food grain procurement agency as part of its plan to reduce wastage and help control runaway food prices.

Prime Minister Narendra Modi, who took charge in May after a landslide victory, promised during the election campaign to break up the Food Corporation of India (FCI) into three divisions for handling procurement, management and distribution.

Aug 20, 2014

India begins revamp of grains agency to cut waste, tame prices

NEW DELHI, Aug 20 (Reuters) – India has set up a panel to
suggest an overhaul of a state-run food grain procurement agency
as part of its plan to reduce wastage and help control runaway
food prices.

Prime Minister Narendra Modi, who took charge in May after a
landslide victory, promised during the election campaign to
break up the Food Corporation of India (FCI) into three
divisions for handling procurement, management and distribution.