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11 hours ago
Amit Shah reminds Congress of its list of scams

Jaipur, April 25 (IANS) BJP president Amit Shah on Saturday criticised the opposition, mainly the Congress party, for describing the Modi-government as pro-corporate despite it contributing about Rs. 2 lakh crore to the government treasury. Addressing a BJP workers' meet here, Shah said: Congress again and again calls us a pro-corporate government, may I remind them that coal, 2G and CWG...

3 days ago
Fitch rates BPCL bond as anticipated

Mumbai, April 22 (IANS) International ratings agency Fitch gave Bharat Petroleum Corporation's (BPCL) proposed $2 billion medium-term bond issue an anticipated rating of 'BBB-' on Tuesday. The Indian government's 54.9 percent ownership in BPCL has been described as the key rating driver. Fitch matched BPCL's rating with that of India on its parent and subsidiary linkage criteria. ...

7 days ago
Reliance to restart all petrol pumps by fiscal end

Mumbai, April 18 (IANS) Reliance Industries, the $66-billion oil refining to retail trade giant, hopes to re-start by the end of this financial year all its 1,400 retail outlets to sell petroleum fuels. In a presentation on the company's corporate results for the financial year ended March 31, 2015, Reliance Industries said it has already re-started 320 ot its petrol-diesel pumps, follow...

11 days ago
World Bank pegs India's growth at 8 percent next fiscal

Washington, April 14 (IANS) The World Bank has forecast India's growth accelerating to 8 percent in the next fiscal and said the country is well-placed in a region that has not only logged the highest economic expansion but would benefit the most from cheaper oil bill. According to the bank's South Asia Economic Focus report, which is released twice a year, the exports sector in the regi...

24 days ago
Automobile sales mark healthy growth in 2014-15

New Delhi/Chennai, April 1 (IANS) Despite high fuel and interest costs, automobile manufacturers closed 2014-15 on a positive note with major companies reporting sales growth during the fiscal ended March 31. Total sales of India's largest passenger car manufacturer Maruti Suzuki grew by 11.9 in 2014-15 and stood at 1,292,415 units from 1,155,041 units sold in the previous fiscal.

24 days ago
Mahindra's 2014-15 sales down 8 percent

New Delhi, April 1 (IANS) Automobile major Mahindra and Mahindra (M&M) Wednesday reported a decline of eight percent in its total sales for 2014-15, which stood at 464,848 units from 507,176 units sold in the previous fiscal. According to the company, domestic sales during the year ending March 31, 2015, decreased by nine percent at 434,652 units from 477,517 units in 2013-14.

1 month ago
Tobacco, fuel to be dearer in Meghalaya

Shillong, March 18 (IANS) Tobacco, petroleum and limestone are set to become more expensive in Meghalaya as the Congress government levied fresh taxes on them in order to generate additional revenue of Rs.30.91 crore annually. Presenting a Rs.819 crore deficit budget for 2015-16 in the state assembly on Wednesday, Chief Minister Mukul Sangma, who also holds the finance portfolio, said he...

1 month ago
Lower fuel prices bring down India's wholesale inflation further

New Delhi, March 16 (IANS) India's annual rate of inflation, based on wholesale prices, declined further to (-) 2.06 percent for February from (-) 0.39 percent for the month before thanks to a 14.72 percent drop in the index for petroleum fuels and power, official data showed Monday. Among the other two major indices, the index for primary articles rose marginally 1.43 percent and that f...

1 month ago
Lower fuel prices bring down India's wholesale inflation further

New Delhi, March 16 (IANS) India's annual rate of inflation, based on wholesale prices, declined further to (-)2.06 percent for February from (-)0.39 percent for the month before thanks to a 14.72 percent drop in the index for petroleum fuels and power, official data showed Monday. Among the other two major indices, the index for primary articles rose marginally 1.43 percent and that for...

1 month ago
'India has turned carbon subsidy regime into carbon taxation'

New Delhi, Feb 27 (IANS) India has managed to turn a carbon subsidy regime into a carbon taxation one by cutting subsidies and increasing taxes on fossil fuels such as petrol and diesel, the Economic Survey for 2014-15 said Friday. This has significantly increased petrol and diesel prices while serving as a price signal to reduce fuel burnt and hence CO2 emissions, the survey, which was ...

1 month ago
Former railway ministers unimpressed by Prabhu's budget

New Delhi, Feb 26 (IANS) Suresh Prabhu's maiden railway budget Thursday failed to impress six of his predecessors in the ministry, who called the proposals repetitive, just an idea and even anti-people. Pawan Bansal, Prabhu's immediate predecessor, said the National Democratic Alliance government's railway budget only repeated the proposals put forth in the documents placed in the previo...

1 month ago
'Brake fail' budget, extra burden on Bengal, says Trinamool

Kolkata, Feb 26 (IANS) West Bengal's ruling Trinamool Congress Thursday threatened to launch a protest movement against the NDA government's second railway budget, calling it a brakefail document and rued that passenger fares were not decreased despite the easing of diesel prices. In a reaction posted on the party's website, the Trinamool also sharply criticised the increase in freight r...

1 month ago
Railway budget historic for seeking outside financing: Prabhu

New Delhi, Feb 26 (IANS) Describing the railway budget 2015-16 as being a historic step in trying to find resources outside of the budget, Railway Minister Suresh Prabhu Thursday sought to hike goods rates on a host of items to garner additional revenue on this count. We're taking debts, taking it (financing of investment) on our balance sheet, Prabhu told a select group of interlocutor...

1 month ago
Prabhu to present maiden rail budget Thursday

New Delhi, Feb 25 (IANS) Railway Minister Suresh Prabhu is set to present his maiden budget for the department Thursday amid expectations of a clear roadmap to re-energise one of the largest railroad networks in the world that's been floundering in recent decades due to a mix of political populism, lack of vision and funds crunch. The latest railway budget evokes particular interest as i...

1 month ago
Prabhu to present maiden rail budget Thursday

New Delhi, Feb 25 (IANS) Railway Minister Suresh Prabhu is set to present his maiden budget for the department Thursday amid expectations of a clear roadmap to re-energise one of the largest railroad networks in the world that's been floundering in recent decades due to a mix of political populism, lack of vision and funds crunch. The latest railway budget evokes particular interest a...

2 months ago
Minister says no possibility of cut in rail fares

Bareilly, Feb 19 (IANS) Just a week ahead of the rail budget, the government has ruled out the possibility of reducing train fares. Speaking here Wednesday night Minister of State (MoS) for Railways Manoj Sinha ruled out the possibility of reducing the fares, saying they are already low due to government subsidy. It will not be done. Fares are already low and government is givi...

2 months ago
India's wholesale price inflation declines

New Delhi, Feb 16 (IANS) India's wholesale price inflation decelerated by 0.39 percent in January from an increase of 5.11 percent in the corresponding period of last fiscal, with industry pointing to the latest data in calling for a Reserve Bank rate cut. India's wholesale price index (WPI) based inflation had fallen to 0.11 percent in December 2014, government data showed Monday

2 months ago
Sensex closes flat; FMCG stocks rise

Mumbai, Feb 16 (IANS) A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex) ended Monday's trade flat, as investor sentiments were subdued due to weak global and domestic cues. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day's trade flat. It was up 3.85 points or 0.04 percent at 8,809.35 points. The Sensex of the S&a...

2 months ago
India's wholesale inflation declines

New Delhi, Feb 16 (IANS) India's wholesale price inflation decelerated by 0.39 percent in January from an increase of 5.11 percent in the corresponding period of last fiscal, government data showed Monday. India's wholesale price index (WPI) based inflation had fallen to 0.11 percent in December 2014. The rate of inflation based on WPI was nil (-0.17 percent) for November from a...

2 months ago
India's wholesale inflation declines

New Delhi, Feb 16 (IANS) India's wholesale price inflation decelerated by 0.39 percent in January from an increase of 5.11 percent in the corresponding period of last fiscal, government data showed Monday. India's wholesale price index (WPI) based inflation had fallen to 0.11 percent in December 2014. The rate of inflation based on WPI was nil (-0.17 percent) for November from a...

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