IIP slips to 2.7% in March due to poor manufacturing output

As per the latest data, industrial output growth slipped to 2.7 per cent in March, chiefly because of poor performance of the manufacturing sector. As per reports, the index of industrial production (IIP) growth was 5.5 per cent in March 2016.

For 2016-17, factory output grew by 5 per cent as against 3.4 per cent in the year-ago period. Also, IIP growth based on the old series (2004-0

April WPI inflation down to 4 month low of 3.85%: Reports

As per the latest data, inflation based on the wholesale price index slipped to a four-month low of 3.85 per cent in April as both food articles and manufactured items showed cooling in prices.

As per reports, the government came out with the new series of wholesale inflation and industrial output data under which the base year for calculating the macroeconomic indicators has been rev

New base year for calculating macro data to reflect market realities: CII

India Inc has said that the new base year 2011-12 for calculating key macroeconomic indicators will provide a more realistic picture and reflect market realities.

As per reports, the Government released the new series of wholesale inflation and industrial output data under which the base year for calculating the macroeconomic indicators has been revised to 2011-12, from the 2004-05 ea

India's vannamei output to cross 4.5 lakh tonnes

Mangalore, May 14  India's whiteleg shrimp or vannamei output is expected to cross 4.5 lakh tonnes in 2017, seeing an over 10 per cent hike over 2015-16, Karnataka Fisheries Minister Pramod Madhwaraj said on Sunday.

"Since 2009-10, vannamei (Pacific Whiteleg Shrimp) production has shown steady increase and reached the present peak of 4.06 lakh MT (metric

RBI initiates prompt corrective action against UCO Bank for soaring NPA

 State-run UCO Bank on Friday said Reserve Bank of India (RBI) initiated prompt corrective action for the bank in view of its high net non-performing assets (net NPA) and negative return on assets (RoA).

"RBI, vide their letter dated May 5, has initiated prompt corrective action for UCO Bank in view of high NPA and negative RoA. These measures aim at improving performan

Innovation fundamental for India to become digital economy: Intel

Innovation is fundamental for India to become a successful digital economy, a top executive from Intel said here on Friday.

He was speaking at an event organised by Intel India, in association with the Department of Science and Technology (DST) and the Indo-US Science and Technology Forum (IUSSTF) to felicitate 29 Student Innovators who are set to represent India at the Intel Int

WPI in 2011-12 series will be less volatile: DIPP

 The wholesale price index (WPI) in the new series of base year 2011-12 does not include indirect taxes thus decreasing volatility in inflation at wholesale level, officials said on Friday.

"In the new series of WPI, prices used for compilation do not include indirect taxes in order to remove impact of fiscal policy. It will decrease volatility in the WPI data," De

GST to have macro economic impact: RBI

Introduction of the GST system is expected to have a macro economic impact and will set a new course for cooperative federalism by strengthening Centre-state partnership, the RBI said in a report released here on Friday.

According to the Reserve Bank of India (RBI) report entitled 'State Finances: A Study of Budgets of 2016-17', the Goods and Services Tax (GST) introducti

India's 2016-17 factory output rises as manufacturing expands

India's factory output expanded by five per cent during 2016-17 as manufacturing and mining activities rose, official data showed on Friday.

According to data furnished by the Ministry of Statistics and Programme Implementation, the base year of the current Index of Industrial Production (IIP) has been revised from 2004-05 to 2011-12.

The factory output, as per

Electric vehicles are future of transportation in India: NITI CEO

Electric vehicles are the future of India's transportation system and could save billions of dollars in fuel cost while also reducing pollution, a report released by NITI Aayog on Friday said.

The report, jointly published with Rocky Mountain Institute, says that India can reduce its annual diesel and petrol consumption by 156 million tonnes by 2030 saving a total of Rs 3.9 l

Base year of WPI, IIP revised to 2011-12

The government has revised the base year of wholesale price index (WPI) and index of industrial production (IIP) to 2011-12 from 2004-05, it was announced on Friday.

WPI has been changed six times so far since 1942 and this happens to be the 7th revision.

"The new series of WPI will provide a more accurate picture," Department of Industrial Policy and Pro

EC lets BSP off in Rs 104-cr deposit post demonetization

The Election Commission of India has accepted the Bahujan Samaj Party's (BSP) explanation and dropped the matter related to the party depositing Rs 104 crore in scrapped currency notes between December 2-9 last year in a bank account in New Delhi post demonetisation, a petitioner has said.

Nutan Thakur, counsel for Pratap Chandra, who had filed a Public Interest Litigation in

India will clock over 7.5% growth in 2017-18: Fin Secy Ashok

India can clock a GDP growth of over 7.5 per cent in the fiscal 2017-18 and the countrys macro-economic fundamentals, including fiscal deficit and inflation, are all "very sound", according to Finance Secretary Ashok Lavasa

. Lavasa, who is visiting the US to attend a global investors conference, said that while there has been a general climate of economic slowdown in the la

Corporate India`s January-April deal tally at $33.49 bn: Grant Thornton

Corporate India announced deals worth USD 1.96 billion in April through 28 transactions taking the year-to-date deal tally to USD 33.49 billion, says a Grant Thornton report according to the PTI.

According to the assurance, tax and advisory firm, M&A values nearly halved in April while volumes declined by 36 per cent due to the absence of domestic action which saw a ten- fold decl

India making concerted push to tackle bad loan: Fitch

Fitch Ratings said Indian authorities are making a more concerted push to clean up bad loans in the banking sector but the move would impinge on banks' profitability in the short-term, reported PTI.

It said that asset resolution would be a dominant theme in the sector over the next few years and further losses may push some weaker banks closer to breaching minimum capital requirem

April CPI inflation to slip to 3.2% from 3.8% March: BofA-ML

April CPI inflation is expected to slip to 3.2 per cent from 3.8 per cent in March, well within the RBI's 2-6 per cent target, says a Bank of America Merrill Lynch (BofA-ML) report according to the PTIl According to the global financial services major, food prices are likely to fall on a good summer rabi harvest and this in turn is expected to bring CPI inflation down.

"We ex

Prospects for bad loan clean-up at Indian banks improving, says Fitch

Recent regulatory actions in India suggest the authorities are making a more concerted push to tackle banks' bad loan problems, says Fitch Ratings. The agency said that it believes that asset resolution will be a dominant theme in the sector over the next few years.

In the short term, this is likely to create provisioning costs that will mean continued pressure on bank profits, an

EC launches national contact centre

The Election Commission has added another feather to its cap with the launch of National Contact Centre with a toll-free No. 1800111950. Now any citizen from any part of the country can call on the toll-free in English or Hindi with any query or complaint at any time of the day, said an official statement.

Callers can enquire on subjects such as elections, voting dates, EPIC, electora

Rajnath launches mobile App for grievances redressal of CAPF personnel

Union Home Minister Rajnath Singh has launched the Home Ministry (MHA) mobile application for grievance redressal of the Central Armed Police Forces (CAPFs) personnel. "The CPAFs are one of the most disciplined forces.

If they are disciplined, this does not mean that they do not have emotions. They also have some personal problems and the system keeps on resolving their problems

Yogi, NITI Aayog plan to double farmers' income, draw investments

Government think-tank NITI Aayog would partner with the Uttar Pradesh government to double the income of farmers and to create more livelihood and investment opportunities in the state, a statement said on Thursday.

It added that a Joint Working Group (JWG) comprising of three representatives each from the NITI Aayog and the state government would be set up.

The JW

India amongst top investment destinations: WTCA CEO

The's government's initiatives like 'Make in India' and 'Smart Cities' have strengthened India's economy which has now become one of the top investment destinations, the chief of World Trade Center Association (WTCA) said on Thursday.

"The current government has taken a slew WTCAof initiatives to propel the economic growth of the country. These in

Allow exporters to pay GST on transactions through e-currency: FIEO

With sections in the export sector apprehensive about their liquidity taking a hit if inputs needed for exports come under the ambit of the proposed Goods and Service tax, an apex trade body on Thursday suggested that exporters be allowed to pay GST on transactions through e-currency.

Federation of Indian Export Organisations President Ganesh Kumar Gupta suggested that the GST Co

Gadkari invites investors to India`s infrastructure sector

Union Minister Nitin Gadkari on Thursday invited global investors to participate in the development of India's infrastructure sector.

The Minister of Road Transport and Highways and Shipping said this in his address to the London Stock Exchange (LSE) after "opening the market for trading".

In his address to the world's largest Sovereign Wealth Fun

India's April retail inflation seen easing to three-month low

By Manoj Kumar

NEW DELHI  India's consumer inflation is expected to have eased to a three-month low in April, helped by smaller rises in food prices, but with a summer rebound in prospect the Reserve Bank of India (RBI) is likely to keep interest rates on hold.

The RBI's Monetary Policy Committee (MPC), which has a mid-term inflation target of 4

Rating agencies undermine India`s growth story: Chief Economic Advisor

Chief Economic Advisor (CEA) Arvind Subramanian on Thursday slammed the international rating agencies for maintaining India's rating at BBB- despite improvement in economic fundamentals such as inflation, growth and current account performance.

"In recent years, rating agencies have maintained India's BBB- rating, notwithstanding clear improvements in our economic fundame