Manoj's Feed
Feb 7, 2014

Govt cuts growth forecast to less than 5 pct before polls

NEW DELHI (Reuters) – India on Friday cut its estimate of annual growth for the fiscal year to 4.9 percent from 5 percent because of a contraction in the manufacturing and mining sectors.

The revision down will do little to help the Congress party-led ruling alliance, which faces an uphill battle in a general election due by May amid allegations of economic mismanagement, corruption scams and high inflation.

Feb 7, 2014

India cuts growth forecast to less than 5 pct before election

NEW DELHI, Feb 7 (Reuters) – India on Friday cut its
estimate of annual growth for the fiscal year to 4.9 percent
from 5 percent because of a contraction in the manufacturing and
mining sectors.

The revision down will do little to help the Congress
party-led ruling alliance, which faces an uphill battle in a
general election due by May amid allegations of economic
mismanagement, corruption scams and high inflation.

Feb 6, 2014

Govt braces for likely lower growth forecast before polls

NEW DELHI (Reuters) – India on Friday is likely to cut its estimate of 5 percent growth forecast for the fiscal year that ends on March 31, thanks to a slower-than-expected recovery by industries.

The revision will do little to help the Congress party-led ruling alliance, which faces an uphill battle in elections due by May amid allegations of economic mismanagement, corruption scams and high inflation.

Feb 6, 2014

India government braces for likely lower growth forecast ahead of elections

NEW DELHI (Reuters) – India on Friday is likely to cut its estimate of 5 percent growth forecast for the fiscal year that ends on March 31, thanks to a slower-than-expected recovery by industries.

The revision will do little to help the Congress party-led ruling alliance, which faces an uphill battle in elections due by May amid allegations of economic mismanagement, corruption scams and high inflation.

Feb 6, 2014

India govt braces for likely lower growth forecast ahead of elections

NEW DELHI, Feb 7 (Reuters) – India on Friday is likely to
cut its estimate of 5 percent growth forecast for the fiscal
year that ends on March 31, thanks to a slower-than-expected
recovery by industries.

The revision will do little to help the Congress party-led
ruling alliance, which faces an uphill battle in elections due
by May amid allegations of economic mismanagement, corruption
scams and high inflation.

Feb 6, 2014

Government extends reformist Sinha’s term as SEBI chairman – sources

MUMBAI/NEW DELHI (Reuters) – The government has extended Upendra Kumar Sinha’s tenure as chairman of its securities regulator, two senior finance ministry officials said, giving him an extra two years to achieve reforms including bringing more transparency to stock markets.

After taking the job at the Securities and Exchange Board of India (SEBI) in 2011, he unveiled rules to improve corporate governance and disclosure standards at Indian companies and has been tasked with instituting a law to counter insider trading.

Feb 6, 2014

India extends reformist Sinha’s term as market regulator -sources

MUMBAI/NEW DELHI, Feb 6 (Reuters) – India has extended
Upendra Kumar Sinha’s tenure as chairman of its securities
regulator, two senior finance ministry officials said, giving
him an extra two years to achieve reforms including bringing
more transparency to stock markets.

After taking the job at the Securities and Exchange Board of
India (SEBI) in 2011, he unveiled rules to improve corporate
governance and disclosure standards at Indian companies and has
been tasked with instituting a law to counter insider trading.

Jan 31, 2014

Chidambaram faces mounting deficit in election year

NEW DELHI (Reuters) – The fiscal deficit in the first three quarters inched closer to the budgeted target for the whole year, suggesting the finance minister of Asia’s third-largest economy faces a challenge to meet the target.

The government is facing a shortfall in tax collections and revenue receipts from the sale of government shares in state-run companies as economic growth slows to less than 5 percent this fiscal year, from near double digits before the 2008 global crisis.

Jan 31, 2014

India’s Chidambaram faces mounting deficit in election year

* India’s Apr-Dec fiscal deficit at 95.2 pct of full-year
target

* Economic slowdown hurting tax collections

* Tax receipts in 9 months at 58.6 pct of year’s target vs
62.8 pct year ago

* Chidambaram faces pressure to allocate funds to attract
voters

By Manoj Kumar

NEW DELHI, Jan 31(Reuters) – India’s fiscal deficit in the
first three quarters inched closer to the budgeted target for
the whole year, suggesting the finance minister of Asia’s
third-largest economy faces a challenge to meet the target.

Jan 30, 2014

Will take necessary steps to ensure market stability: India

NEW DELHI (Reuters) – India pledged on Thursday to take all necessary steps to ensure stability in financial markets as it tried to calm jitters over the U.S. Federal Reserve’s decision to scale down its economic stimulus.

The U.S. central bank said on Wednesday it would buy $65 billion in bonds per month starting in February, down from $75 billion now. It shaved its purchases of U.S. Treasuries and mortgage bonds equally.