Manoj's Feed
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.

Feb 20, 2015

Exclusive: Subsidy cuts in India’s 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.

Feb 20, 2015

Subsidy cuts in India’s budget may disappoint investors

NEW DELHI, Feb 20 (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.

Feb 12, 2015

Retail inflation accelerates in Jan, but stays below RBI’s target

NEW DELHI (Reuters) – India’s retail inflation accelerated in January after shifting to a new base year for calculating prices, but stayed well below the Reserve Bank of India’s (RBI) target, bolstering prospects for further interest rate cuts.

Consumer prices rose an annual 5.11 percent compared with a 4.28 percent gain in December, the statistics department said on Thursday after it changed the base year for measuring inflation to 2012 from 2010.

Feb 12, 2015

India retail inflation accelerates in Jan, but stays below RBI’s target

NEW DELHI, Feb 12 (Reuters) – India’s retail inflation
accelerated in January after shifting to a new base year for
calculating prices, but stayed well below the central bank’s
target, bolstering prospects for further interest rate cuts.

Consumer prices rose an annual 5.11 percent
compared with a 4.28 percent gain in December, the statistics
department said on Thursday after it changed the base year for
measuring inflation to 2012 from 2010.