NSE, MCX, BSE Among Top 20 Global Derivatives Bourses

Three Indian bourses i.e.,  NSE, MCX and BSE have made it to the world’s top 20 derivative exchanges. As per a list compiled by the Futures Industry Association (FIA) for trading volumes between January and June 2012, the National Stock Exchange is ranked fifth. Among other Indian bourses, MCX is ranked at 10th and BSE at the 18th … [Read more...]

Raghuram Rajan Panel Calls For Ending Special Category Criteria

Raghuram Rajan

Raghuram Rajan Committee has made a case for ending the special category criteria for providing additional assistance to poorer states. The committee, headed by the then Chief Economic Advisor Raghuram Rajan, suggested a new methodology for devolving funds on states based on a 'Multi Dimensional Index (MDI). The Panel has ranked Goa and Kerala as the most … [Read more...]

Economy To Grow At 5.3%: PMEAC

C. Rangarajan

In its report on the Economic Outlook for 2013-14, the Prime Minister’s economic advisory council (PMEAC) has predicted the economy to grow at 5.3% in this fiscal year, faster than the 5% growth rate in the previous fiscal year. C. Rangarajan, chairman of the council, said the higher growth estimate is due to expectations of healthy farm output, which is … [Read more...]

Govt Sets Up Tax Administration Reform Commission

Parthasarathy Shome

The government has set up a Tax Administration Reform Commission to review the application of tax policies and tax laws in the country. The Commission under Parthasarathy Shome will submit periodic reports that can be implemented to strengthen the capacity of the country's tax system. The Commission with a term of 18 months will review the existing mechanism … [Read more...]

Telecom Commission Approves Hike In FDI Cap

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The Telecom Commission has approved the enhancement of the Foreign Direct Investment (FDI) limit in the telecom sector from 74 per cent to 100 per cent to re-energize the telecom industry. At present, FDI limit in Telecom sector is at 74 per cent where 49 per cent is through automatic route and the rest with the approval of the Foreign Investment Promotion … [Read more...]

GoM Approves Restructuring Of Centrally Sponsored Schemes

Chidambaram

The Union Cabinet on June 20 decided to restructure the existing Centrally Sponsored Scheme (CSS)/ Additional Central Assistance (ACA) schemes in the Twelfth Five Year Plan into 66 schemes, including Flagship programmes. This includes 17 Flagship programmes with significant outlays for major interventions required in health, education, irrigation, urban … [Read more...]

India’s First Dedicated Debt Trading Platform Launched

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The National Stock Exchange (NSE) launched India’s first dedicated debt trading platform in Mumbai on May 13. This trading platform is expected to provide an opportunity to retailers to invest in corporate bonds on a liquid and transparent exchange platform. #adsense# The separate debt trading platform will provide an opportunity to retail investors … [Read more...]

Il&FS Infrastructure Debt Fund Signs MoU With Eight Public Sector Banks

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IL&FS Infra Asset Management Limited (IAML), an Asset Management Company (AMC) promoted by IL&FS Financial Services Limited (IFIN) to manage the IL&FS Infrastructure Debt Fund (IIDF), has signed a Memorandum of Understanding (MoU) with eight Public Sector Banks (PSBs) including Allahabad Bank, Bank of India, Canara Bank, Central Bank of India, … [Read more...]

Only 26.7% People Below Poverty Line By 2015

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With continuous and concerted efforts, people living below poverty line in India will be down to 26.7 per cent by 2015, but improving sanitation facilities in the country still remains a challenge. The visiting Minister of State for Commerce and Industry of India, Dr Dagubatti Purandeswari told the United Nations Economic and Social Commission for Asia and … [Read more...]

India’s GDP To Improve To 5.7% In 2013: IMF

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According to IMF’s  Regional Economic Outlook: Asia and Pacific' Report, India’s GDP is likely to improve to 5.7 per cent in 2013 and further to 6.2 per cent a year after. For Asia as a whole the economic growth is likely to be 5.7 per cent this calendar year and 6 per cent in 2013. As per IMF's projections, India's real economic growth was 11.2 per … [Read more...]