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While everyone has been animatedly supporting Anna Hazare’s fight against corruption, people seem to have forgotten who the people are who actually led to this situation. The peak of irony was when Anna was, allegedly, lodged in the same jail that housed the people who were responsible for two of the biggest scams in the [...]
India will become a USD 5.6 trillion economy by 2020, according to research firm Dun & Bradstreet, which has predicted a three-fold jump in the country’s GDP from USD 1.7 trillion last fiscal on the back of rapid investment and growing consumer expenditure. “Indian economy will become a USD 5.6 trillion economy by fiscal 2020, [...]
Encouraged by the marginal decline in rate of price rise to 9.22 per cent in July, Finance Minister Pranab Mukherjee on Tuesday said inflation pressure would ease further on back of good monsoon. “I am quite confident that good monsoon will ensure moderation of inflationary pressure,” he told reporters pointing out that the government and [...]
Industrial growth in the country revived moderately to 8.8 per cent in June this year on the back of a smart recovery in the manufacturing sector and better offtake of capital goods. Growth in factory output, as measured in terms of the Index of Industrial Production (IIP), stood at 7.4 per cent in June last [...]
Domestic passenger car sales rose by 22.63 percent to 1,89,008 units in February, 2011, from 1,54,132 units in the same month last year. Figures released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday also show that motorcycle sales in the country grew by 20.8 percent during the month to 7,76,051 units from 6,42,419 [...]
The govt has collected over Rs 300 crore in penalties from new telecoms service providers that failed to roll-out their networks within the stipulated time frame after getting licenses and spectrum. “As of last Friday, we have received Rs 300.04 crore penalties, as against total claim of Rs 370.55 crore,” Department of Telecoms Secretary R [...]
Investors cheered the Budget 2011-12 on Monday pushing up the Sensex nearly 600 points before profit-booking erased gains as the BSE benchmark index closed at over 17,823, up about 122 points. Markets welcomed the budgetary proposals to reduce surcharge on corporate tax to 5 per cent, push reforms and contain inflation, with the Bombay Stock [...]
A disinvestment target of Rs 40,000 crore for 2011-12, bank licenses to new private sector players and speeding up of various pending financial sector bills were some of the highlights of Budget proposals presented by Finance Minister Pranab Mukherjee on Monday. Here are some major announcements made by Mukherjee in his Budget speech in the [...]
Seeking to clear the air on the controversy over allocation of S-Band spectrum, Prime Minister Manmohan Singh has said the deal to allocate transponder frequency on two satellites to the Indian arm of a US firm never came to his office for approval. “There is no question of Prime Minister’s Office being asked to approve [...]
In one of the country’s biggest energy deals, Reliance Industries on Monday announced sale of 30 percent stake in its 23 blocks including the giant KG-D6 gas fields to UK’s BP Plc for USD 7.2 billion. Besides the stake transfer, Reliance and BP will form a 50:50 joint venture for the sourcing and marketing of [...]