Kolkata: India and Pakistan are being forced to patch up due to commercial and financial interests, feels critically acclaimed Pakistani novelist and translator Musharraf Ali Farooqi. “Commercial and financial interests are forcing India and Pakistan to patch up. In the past such interests used to be miniscule but now the (commercial) [...]

Jammu: Trade across the Line of Control (LoC) that divides Jammu and Kashmir between India and Pakistan resumed Tuesday after being suspended due to tension over the Jan 8 killing of two Indian soldiers. Six Pakistani trucks entered the Indian side. An official handling the cross-LoC trade at Chakan-da-Bagh in Poonch [...]

Mumbai: India’s central bank today cut key policy rates to infuse more money into the banking system and also trigger lower interest rates on loans taken by the commercial and household sectors. The repurchase rate, the interest charged by the Reserve Bank of India (RBI) on short-term borrowings by commercial banks, [...]

Shimla: Settling for a proposed annual plan of Rs 4100 crore for 2013-14 that is 11 percent more than the current one, the government today finalized the priorities after holding discussions with all the legislators. Speaking on the occasion, chief minister Virbhadra Singh said that the 12th five year plan [...]

New Delhi: The government today allowed state-run oil marketing companies to revise diesel prices from time-to-time in line with global crude oil prices. “Oil marketing companies have been given the freedom to make small corrections from time-to-time,” Finance Minister P. Chidambaram told reporters after a cabinet meeting chaired by Prime Minister [...]

The recent developments on the economic front in India are very encouraging. With an alleviation of headline and manufacturing inflation the long pending demand of the government of India especially the Finance ministry and industrialists for a rate cut seems to find acceptance with RBI in the days to come. [...]

Washington: After a sharp slowdown pushing down its projected growth to 5.4 percent in the fiscal year ending March 2013, the World Bank expects India to grow at 6.4 percent this year, rising to 7.3 percent by 2015. The slowdown in India, South Asia’s largest economy, also weakened growth in the [...]

New Delhi (IANS) An estimated 61 percent of Indian firms suffer above 10 percent shortfall in production due to power cuts, industry lobby FICCI said here today.The finding emerged from a survey by the Federation of Indian Chambers of Commerce and Industry and Bureau of Research on Industry and Economic Fundamentals [...]

New Delhi (IANS) The new year could see the balancing of trade between India and China a bit. Three joint working groups on trade, services and investment will meet next month to discuss issues affecting bilateral trade and investment. Among these, market access for Indian companies in China is a major [...]

Patna (IANS) Indicative of its impressive growth, Bihar’s per capita income has almost doubled since 2004. But it is still well below the national average, a state minister says. Planning and Development Minister Narendra Narayan Yadav said that Bihar’s per capita income in 2011-12 was Rs.15,268, which was still far behind [...]