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Macros improving, subsidy reforms to continue: Jaitley

Government today said it is committed to pursuing subsidy reforms by efficient targeting of subsidies to the poor and needy while saving the ‘scarce financial resources’ for infrastructure and development needs. Stating that it was essential to gradually reduce expenditure on subsidy through reforms to meet fiscal deficit targets, Finance Minister Arun Jaitey also said that the Seventh Pay Commission ...

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China cuts yuan rate against US dollar for second day

Shanghai, Aug 12 (AFP) China cut the yuan’s value against the dollar for the second consecutive day today, roiling global financial markets and driving expectations the currency could be set for further falls. The daily reference rate that sets the value of the Chinese currency against the greenback was cut by 1.62 per cent to 6.3306 yuan, from 6.2298 the ...

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Rupee climbs 4 paise against dollar in early trade

The rupee edged up 4 paise to 63.71 against the US dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the American currency by exporters amid higher foreign funds inflow. Forex dealers said a weakening dollar against other currencies overseas and a higher opening in the domestic equity market supported the rupee. The rupee ...

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Sensex back to winning ways, rebounds 151 pts

Mumbai, Aug 5 (PTI) The benchmark BSE Sensex bounced back on Wednesday, after a day’s decline, rallying over 151 points before closing at nearly a two-week high of 28,223.08, powered by gains in IT, FMCG and realty. The Nifty too rallied, which surged 51 points amid sustained fund inflows. Sentiment improved after a survey showed that services sector is back ...

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Govt yet to take final view on Internet calls: Telecom Min

Amid criticism of a DoT panel report suggesting ‘regulatory framework’ for Internet calls, Telecom Minister Ravi Shankar Prasad today said it is not the final view of the government and a “structured” decision will be taken only after looking into views of all stakeholders. The suggestions of the panel, if implemented, may lead to free calls offered by apps like ...

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Sensex regains 28,000 level, Nifty above 8500 on value buying

The benchmark Sensex recovered over 200 points to trade above the 28,000 mark in early trade today on the back of value-based buying in capital goods, realty, metal, auto and PSU stocks amid firm Asian cues. The wider Nifty of NSE also crossed the 8500 level by rising 61.40 points, or 0.73 per cent, to 8,515.50 as 45 constituents of ...

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Prevention better than cure: RBI on farm loan waivers

Mumbai, Jul 12 (PTI) Pitching for growth in agriculture sector to check farmer suicides, RBI Deputy Governor H R Khan today said debt burden is not the only reason for such tragic steps even as he warned against frequent farm loan waivers. “Prevention is better than cure,” Khan said, while adding there are occasions where loan waivers are needed, but ...

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Rain gods may be kinder; revenue collections going up: Jaitley

Mumbai, Jul 12 (PTI) Pinning hopes on ‘rain gods’ to be kinder this year, Finance Minister Arun Jaitley today said a better monsoon would help check food inflation, including in pulses. Jaitley also said that rising tax revenues and improving macroeconomic fundamentals would take economy to an accelerated growth trajectory, while 8-10 per cent GDP growth was also not out ...

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Sensex, Nifty surge for 2nd straight week

Mumbai, Jun 27 (PTI) Stocks: Both the indices, BSE Sensex and NSE Nifty, surged further by 496 points and 156 points, respectively, on persistent buying from investors on hopes of rate cut from Reserve Bank of India (RBI) in view of above-average monsoon rains. India Meteorological Department (IMD) said in its daily monsoon update showed that the southwest monsoon has ...

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Rupee rallies 25 paise against dollar

The rupee appreciated 25 paise to trade at 63.87 against the dollar in early trade today at the Interbank Foreign Exchange after the American currency weakened overseas amid sustained selling of the greenback by exporters and banks. Forex dealers said the dollar’s weakness against euro and other currencies overseas after the Fed disappointed some who had hoped for a clearer ...

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