Manoj's Feed
Feb 28, 2015

India to inject $1.3 bln to shore up state banks

MUMBAI/NEW DELHI, Feb 28 (Reuters) – India will inject 79.4
billion rupees ($1.3 billion) into state-owned banks in the next
fiscal year to bolster their capital reserves, a
smaller-than-expected sum which means the sector’s heavyweights
may have to turn to the market or curb lending.

Successive governments have poured billions into India’s
bad-debt burdened state banks, even while warning the support
was unsustainable. The Reserve Bank of India estimates lenders
need more than $40 billion to meet global Basel III norms by
2019.

Feb 28, 2015

Jaitley goes for growth, slower fiscal deficit cuts

NEW DELHI (Reuters) – Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.

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

Feb 28, 2015

India’s Jaitley goes for growth, slower fiscal deficit cuts

NEW DELHI, Feb 28 (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 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.