Manoj's Feed
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.

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.