Finance

India’s farm sector imports on a rise: Key facts

India’s farm sector imports are on a rise pushed by two back to back droughts and untimely rainfall. Prime Minister Narendra Modi has been trying to revive rural India but agricultural imports are seeing an upward trend. Last week Modi held a late night meet with the farm officials to address the concerns. Here are some key facts about the ... Read More »

FM Arun Jaitley says 7th Pay Commission outgo not to affect fiscal deficit target

Finance Minister Arun Jaitley said on Friday he was not worried about fiscal deficit and government would be able to meet its target despite additional outgo towards the implementation of the 7th Pay Commission. He admitted however that the impact of implementing the pay commission’s recommendations, which will result in an additional annual burden of Rs 1.02 lakh crore on ... Read More »

Central government’s total expenditure up by 6% to Rs 10,21,620 crore

The Central Government ‘s total expenditure grew around 6 per cent to Rs 10,21,619.7 crore during the first seven months of 2015/16. Plan expenditure saw a meagre growth of 1.4 per cent compared to fairly decent growth of around 8 per cent in the no-plan spending during the same period. In the current fiscal , plan and non-plan spending have ... Read More »

Rupee falls to one-week low at 66.69 level

The rupee continued to decline against the American currency for the third consecutive day by slipping another 4 paise to close at 1-week low of 66.69 per dollar after touching more than two-year low of 67.01 during the intra-day deals. Sustained capital outflows, fall in equities amid subdued domestic macro-data along with sudden spurt in crude also affected the rupee ... Read More »

Manufacturing growth at 25-month low in November: Nikkei PMI

The manufacturing sector grew at its weakest pace in over two years in November as demand and output continued to soften, a business survey showed on Tuesday.Nikkei’s Manufacturing Purchasing Managers’ Index, compiled by Markit, fell to a 25-month low of 50.3 in November from October’s 50.7. A reading above 50 indicates expansion. The subdued domestic demand and competitive pressure appeared ... Read More »

Rupee goes off-track, down 10 paise at 66.59

Snapping its two-day winning spree against the American currency, the rupee on Wednesday dropped 10 paise to end at 66.59 on renewed demand for the dollar from banks and importers amid higher greenback overseas. Persistent foreign capital outflows also affected the market sentiment, a forex dealer said. The domestic currency on Wednesday resumed lower at 66.52 as against Tuesday’s closing ... Read More »

No big bang jump for rupee like yuan: Raghuram Rajan

Reserve Bank of India (RBI) governor Raghuram Rajanruled out on Tuesday any big bang internationalisation of therupee following the inclusion of Chinese yuan into the International Monetary Fund’s (IMF) reserve currency basket. “The Chinese devalued the yuan initially but then stopped and, in fact, it came up a little since then. Perhaps, with the Chinese inclusion in the SDR (special ... Read More »

Now, cancel reserved Rail tickets at a general counter

Starting Tuesday, Indian railway stations will allow cancellation and refund of reserved tickets at an additional counter which was until now dispensing only unreserved tickets, an official statement said. In a bid to usher in passenger-friendly measures, the railways ministry has decided to convert one Unreserved Ticketing System (UTS) counter, where only unreserved tickets are sold, into a UTS cum ... Read More »

ATF price cut by 1.2%; non-subsidised LPG rate hiked by Rs 61.5

Jet fuel or ATF price was cut on Tuesday by a marginal 1.2 per cent, the third reduction in as many months, while rate of non-subsidised cooking gas (LPG) was hiked by Rs 61.50 a cylinder due to global cues. Aviation Turbine Fuel (ATF) price in Delhi was cut by Rs 526.2 per kilolitre (kl), or 1.2 per cent, to ... Read More »

IRCTC software bug causes chaos among Vaishno Devi pilgrims

he Indian Railways was recently hit by a ‘software bug’ that caused confusion among pilgrims who tried to board a train to the Vaishno Devi shrine in Jammu and Kashmir on November 27. Several passengers had to cancel their holy trip as they were not allowed to board the Jammu Rajdhani Express on November 27 despite having valid tickets. They ... Read More »