LATEST NEWS

India's growth story intact, economy to bounce back: RBI Governor

New Delhi, Mar. 3 (ANI): India will recover from its current ailing economic health and revive its growth story, Reserve Bank of India (RBI) Governor Duvvuri Subbarao said on Sunday.

Addressing an alumni meet of the Indian Institute of Technology in New Delhi, he said the country had to overcome the current challenges like increasing agricultural productivity and providing jobs amongst others to restore growth back on track.

"The India growth story is still intact; the India growth story is still credible, till long term drivers of India's growth are still intact. If we do the right things we can get back on track with a double-digit growth. But I also want to say that the India growth story is not inevitable. There is no cork-written rule that India should grow in double digits," said Subbarao.

He expressed worry over dipping investments in the country but said that India's aim of achieving double-digit growth would not be a forgotten story if the government adhered to the right policies.

"We can achieve growth and improve the welfare only if we effectively implement not just economic reforms but also governance reforms, straddling virtually all sectors of the economy, slipping upon that will amount to squandering a great opportunity," said Subbarao.

India's economy grew by a worse-than-expected 4.5 percent in the quarter ending December, hurt by a slowdown in agriculture, mining and manufacturing, government data showed.

Analysts polled by Reuters had forecast growth of 5 percent. The country's economy grew at a lower-than-expected 5.3 percent in the quarter ending in September.

The finance ministry has been prodding RBI to cut interest rates to revive slowing economic growth. The central bank delivered a 25 bps cut in January for the first time since April 2012 and said inflation and the current account deficit remained key concerns.

Questions over the reliability of Indian data are not new. Economists have previously challenged the accuracy of other indicators, saying faulty data makes it potentially trickier for policymakers to take decisions on matters like interest rates. (ANI)

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
  • Mistry replies on Tata Sons' 'counter-allegations' IANS - 6 hours ago

    The replies came through an affidavit which was filed by Mistry's investment companies to the NCLT's Mumbai bench. The rejoinder comes after Tata Sons had filed an over 200-page affidavit with the NCLT earlier in January, rebutting charges levelled … More »

  • Software to comply with Indian labour laws unveiled IANS - 6 hours ago

    "The SaaS-based plug-and-play tool gives free access to 40,000 pages of the Indian labour laws for compliance management by enterprises, factories, shops and businesses in the country," said Simpliance Founder Anil D'Souza. "Labour law compliance … More »

  • 50% of BSE IPO subscribed on 1st day of offering IANS - 8 hours ago

    Mumbai, Jan 23 (IANS) Stock exchange major BSE's initial public offering (IPO) was subscribed by 50 per cent on the first day of the Rs 1,243.43 offering which started on Monday. According to the data ... … More »

  • Note ban boosts deposits, lowers bank loan growth: Report IANS - 8 hours ago

    New Delhi, Jan 23 (IANS) The recent demonetisation in India led to an immediate jump in current account and savings account (CASA) deposits, incremental lending saw a massive drop, while digital banking witnessed a major surge, a report said on … More »

  • Okinawa Autotech launches e-scooter Ridge IANS - 8 hours ago

    New Delhi, Jan 23 (IANS) Electric two-wheeler manufacturer Okinawa Scooters on Monday launched its first offering in the Indian market an e-scooter -- Ridge -- priced at Rs 43,702 (Ex-showroom, Delhi). ... … More »

  • Differential impact of demonetisation across ABS transactions: Ind-Ra IANS - 8 hours ago

    Mumbai, Jan 23 (IANS) Credit ratings agency India Ratings and Research (Ind-Ra) on Monday said it has observed differential impact of demonetisation across asset-backed securities (ABS) transactions. According to the agency's report -- Indian ABS … More »

  • India against EU, Canada-proposed dispute settlement at WTO IANS - 9 hours ago

    New Delhi, Jan 23 (IANS) India has opposed an informal proposal by the EU and Canada for a global investment pact with an investor-to-state dispute settlement (ISDS) mechanism at the WTO by which corporates can take governments to international … More »

  • EIH's Q3 net profit up 8.29% IANS - 9 hours ago

    Mumbai, Jan 23 (IANS) Hospitality major EIH on Monday reported a rise of 8.29 per cent in its stand alone net profit for the third quarter (Q3) of 2016-17. The company which was formerly known as the 'East ... … More »

  • Asian Paints net profit up, hit by demonetisation IANS - 9 hours ago

    Mumbai, Jan 23 (IANS) Paints major Asian Paints on Monday posted a marginal 1.5 per cent rise in consolidated net profit to Rs 489.31 crore in the quarter ended December 31, as compared to Rs 482.02 crore ... … More »

  • SBI calls for raising income tax exemption limits IANS - 10 hours ago

    Mumbai, Jan 23 (IANS) Presenting an agenda for the forthcoming Union Budget at a time when banks are flush with funds post-demonetisation, state-run SBI on Monday called for raising various income tax ... … More »

  • Bharti Infratel's Q3 net up 25% IANS - 11 hours ago

    New Delhi, Jan 23 (IANS) Telecom tower infrastructure services provider Bharti Infratel's consolidated net profit went up 25 per cent in the third quarter of 2016-17, the company said on Monday. The company posted a net profit of Rs 620 crore for … More »

  • Budgetary expectations lift Indian equities IANS - 11 hours ago

    Mumbai, Jan 23 (IANS) Hopes of budgetary incentives and healthy buying in metal, automobile and oil and gas sectors lifted the Indian equities markets on Monday. However, profit booking at higher levels ... … More »

  • FRBM Committee submits report on fiscal consolidation roadmap IANS - 11 hours ago

    New Delhi, Jan 23 (IANS) The Fiscal Responsibility and Budget Management (FRBM) Committee, headed by former Revenue and Expenditure Secretary N.K. Singh, submitted its report to Finance Minister Arun Jaitley on Monday with recommendations on the … More »

  • NEXTracker, CleanMax Solar to set up tracker system in Chennai IANS - 12 hours ago

    New Delhi, Jan 23 (IANS) American solar solutions provider NEXTracker announced on Monday that it is partnering with India's CleanMax Solar to supply a 30 MW solar tracker system to a project in Tamil Nadu. "NEXTracker has partnered with CleanMax … More »

  • HUL's net profit up 7% in Q3 IANS - 12 hours ago

    Mumbai, Jan 23 (IANS) FMCG major Hindustan Unilever on Monday reported a seven per cent increase in its net profit to Rs 1,037.93 crore in the quarter ended December 31, 2016 as compared to Rs 971.66 crore in the corresponding quarter last fiscal … More »

  • Strong rupee, budgetary expectations lift equities IANS - 14 hours ago

    Mumbai, Jan 23 (IANS) Rupee appreciation, coupled with hopes of positive incentives in the upcoming Union Budget and broadly positive Asian indices, lifted the Indian equities markets on Monday. The key ... … More »

  • Global semiconductor revenue to grow 7.2% in 2017: Gartner IANS - 15 hours ago

    Mumbai, Jan 23 (IANS) Worldwide semiconductor revenue is set to hit $364.1 billion in 2017, an increase of 7.2 per cent from 2016, representing a turnaround for the industry as it experienced 1.5 per cent growth in 2016, market research firm Gartner … More »

  • itel unveils 4G VoLTE-enabled smartphone at Rs 7,550 IANS - 15 hours ago

    New Delhi, Jan 23 (IANS) itel Mobile, part of Chinese mobile manufacturer Transsion Holdings, on Monday launched a new it1518 4G VoLTE-enabled smartphone at Rs 7,550. The 5-inch device houses 8MP rear ... … More »

  • Indian equities buoy on strong rupee, budgetary expectations IANS - 16 hours ago

    Mumbai, Jan 23 (IANS) Indian equities markets traded on a flat-to-positive note during the mid-afternoon trade session on Monday, as rupee appreciation, coupled with hopes of positive incentives in the ... … More »

  • Amazon India to empower Naga women entrepreneurs IANS - 16 hours ago

    Bengaluru, Jan 23 (IANS) With a view to drive digital literacy among women entrepreneurs in Nagaland, Amazon India on Monday partnered with the state government and the National Skill Development Corp (NSDC) to provide them a global platform to sell … More »

  • 5 reasons you should bother about Budget 2017 Simplus Information Services - 18 hours ago

    The government reveals the income and expenditure incurred in the year gone by. It is the estimate that the government makes about the income and expenditure for the year ahead. The government announced the demonetization of currency notes in … More »

  • Is digitisation the need of the hour? Simplus Information Services - 18 hours ago

    What makes digitisation or digitalisation so important? The conversion of data from analogue to digital has been going on since the 1950s. Nowadays, digital technology is helping restructure businesses, organisations, and economies. … More »

  • Coal India discontinues Forward e-auction Scheme 2007 IANS - Sun 22 Jan, 2017 7:12 PM IST

    Kolkata, Jan 22 (IANS) Following special forward e-auction for power sector and exclusive e-auction for non-power consumers being conducted in a "regular manner", Coal India Ltd (CIL) has advised its subsidiaries to stop conducting the Forward … More »

  • Kudankulam Unit 2 generates full capacity of 1,000 MW IANS - Sun 22 Jan, 2017 7:08 PM IST

    Chennai, Jan 22 (IANS) The second 1,000 MW atomic power reactor at the Kundankulam Nuclear Power Project (KNPP) in Tamil Nadu has attained its maximum capacity, the Russian builders announced on Sunday. "Kudankulam NPP Unit No 2 has for the first … More »

  • Non-life insurers' premium income grows over 25% in December IANS - Sun 22 Jan, 2017 5:04 PM IST

    Kolkata, Jan 22 (IANS) Non-life insurance companies posted over 25 per cent increase in their gross premium income (direct premium income underwritten) to Rs 9,760.23 crore in December compared to Rs 7,777.38 ... … More »

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    17.53+0.18+1.04%
    SUZLON.BO
    330.85-4.45-1.33%
    GRUH.BO
    80.75-0.40-0.49%
    IBREALEST-.BO
    929.25+21.95+2.42%
    BAJFINANCE.BO
    181.30+9.85+5.75%
    HINDALCO.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    67.80+11.30+20.00%
    BELLACASA.BO
    27.00+4.50+20.00%
    ORIENTHOT.BO
    2,288.85+381.45+20.00%
    BHARATRAS.BO
    215.25+35.85+19.98%
    DHPIND.BO
    133.00+22.15+19.98%
    KATWAUD.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    39.10-4.40-10.11%
    VARDHINDQ.BO
    87.40-9.70-9.99%
    SAPL.BO
    33.45-3.70-9.96%
    ABHIINFRA.BO
    79.90-8.65-9.77%
    BINNY.BO
    20.30-2.10-9.38%
    TRENDELEC.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.