Friday's reforms pull rupee to 4-mnth high of 53.80/dollar
The rupee briefly rose to a four-month high on Monday, spurred by hopes of major foreign inflows after the government announced it was opening up of the aviation and multi-brand retail sectors to more overseas investment.
The government's big reform push came a day after it approved a steep hike in diesel prices in a bid to cap subsidies and lower its fiscal gap.
(Sources: Business Standard, IBNLive, Moneycontrol, Hindu Business Line, Rediff, i4u)
Tax, policy concerns may delay FDI in airlines
The government has cleared the decks for foreign direct investment (FDI) by foreign airlines into India’s air carriers, but foreign players will not be in a hurry to sign up deals with Indian promoters due to concerns over high taxation and policy stability in India, according to experts.
Among the foreign carriers, the Abu-Dhabi-based Etihad and Qatar Airways are keen to expand their footprints in India and challenge Emirates, which is the largest foreign airline operator in the country. Both these airlines have held informal talks with Kingfisher Airlines and SpiceJet.
(Sources: Business Standard, Livemint, Hindu Business Line, Rediff)
New steel policy aims to sort out industry problems
The new National Steel Policy will try to sort out issues including land acquisition and raw material security that are at present crippling the sector's growth in the country, sources said.
The new Policy will aim to help increase capital inflow into the country, overcome hurdles regarding land acquisition, assuage concerns about raw material security, spur efficient utilisation of raw material resources and infrastructure development for the sector among others, officials said.
The 2005 Policy had pegged country's steel output at 110 million tonnes by 2020.
(Sources: Economic Times, Indiatimes, Worldnews, Zeenews, the Hindu)
Retail players are seeing great potential for growth in Kolkata
Major retail players are seeing great potential for growth in Kolkata and some are planning to expand their presence in the city.
Experts say soaring mall growth and more money in the hands of the people because of the boom in the IT and ITeS sector have also helped in attracting retail chains to the city.
According to a study, the city's retail appetite has been quiet in the first quarter of this fiscal, but is expanding at a steady pace.
(Sources: Economic Times, Indiatimes, Worldnews, Rediff, Zeenews, i4u, the Hindu)
RBI needs to take 'calculated risks' and cut rates: Assocham
Suggesting that the RBI go in for 'calculated risks' to revive industrial output, Assocham has urged the central bank to cut interest rates that will boost investments and help revive the economy.
It is time the Reserve Bank gets rid of its obsession with the inflation numbers, while completely ignoring grave situation thrown in by constantly decelerating industrial growth, Assocham President Rajkumar Dhoot said.
In August, the overall inflation rose to 7.55 %, driven by higher prices of food items and manufactured goods.
(Sources: Economic Times, Indiatimes, Worldnews, Zeenews, the Tribune, Hindu Business Line)
India should strengthen economic ties with emerging economies, says Anand Sharma
Noting that economic engagement has become integral to bilateral and regional relations, Union Commerce Minister Anand Sharma today said India should strengthen commercial engagements with emerging economies of Asia, Africa and Latin America.
The conference attended by 120 Indian Ambassadors and High Commissioners from across the world today deliberated upon its non-traditional aspects including public and cultural diplomacy and the roles played by think tanks.
The three-day conference also discussed issues of multilateral negotiations on environment and climate change.
(Sources: Economic Times, Indiatimes, Worldnews, Zeenews, the Financial Tribune)
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