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India to grow at 8-9 per cent

India to grow at 8-9 per cent

According to the Union Finance Minister Arun Jaitley, India has the capacity to grow at 8-9 per cent and good governance would make economic expansion ´more exuberant´.

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Global economy recovery is on track in 2014: RBI

Global economy recovery is on track in 2014: RBI

The Macroeconomic and Monetary Developments 2014-15 update is released by Reserve Bank of India along with its first bi-monthly monetary policy statement for 2014-15. As per the macroeconomic update, the recovery of the global economy is on track in 2014, though tightening financial conditions and the divergence in inflation pose risks. Since the January 2014 monetary policy statement, global growth outlook remains broadly unchanged though weaker initial data to some extent cloud optimism. Globa

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SAIL to raise operational efficiency, save cost

SAIL to raise operational efficiency, save cost

Steel Authority of India (SAIL) would adopt several steps to increase operational efficiency and thereby save Rs 5,000 crore in cost over the next three years. The state-run steel maker said in a statement after a ‘Strategic Confluence on Cost Control and Cost Competitiveness’ at its Management Training Institute in Ranc

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RBI expects fall in corporate investment

RBI expects fall in corporate investment

Corporate investments, which stood at Rs 263,400 crore in 2012-13, may fall in the current financial year, Reserve Bank of India (RBI) said in its monthly bulletin for September. The capital expenditure intentions of the companies in private and joint business sectors were captured in the repo

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Economic growth may recover later in FY14: RBI

Economic growth may recover later in FY14: RBI

In its Annual Report 2012-13, Reserve Bank of India (RBI) said the economic growth may recover later in 2013-14 if government delivers better administration, eases supply constraints and maintain stability. Economic growth in the country slipped to a decade-low level of 5 percent in 2012-13 and this year the RBI expects growth to be

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SAIL invests Rs 421 bn on capacity expansion plan

SAIL invests Rs 421 bn on capacity expansion plan

Till July 2013, state-run firm Steel Authority of India (SAIL) invested Rs 42,101 crore out of the proposed Rs 61,870 crore it plans to spend on modernisation and expansion of its existing facilities. Through this investment, the company plans to raise its crude steel production capacity to 21.4 million tonne per annum (mn tpa) from 12.8 mn tpa now

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Rupee weakness puts upward pressure on interest rates

Rupee weakness puts upward pressure on interest rates

Interest rate in India is rising on the back of the steep decline in the value of rupee against the dollar in recent months. Experts feel that the depreciating rupee raises domestic interest rate through three ways. First, in order to discourage speculation in the currency market, Reserve Bank of India (RBI) tightens liquidity and raises shor