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  • NEW DELHI/ MUMBAI, March 1- India's reform-minded prime minister, Narendra Modi, appears to have passed a major test with a budget that pleased economists and investors with pledges to spend more on modernising India's ageing roads and railways while keeping borrowing in check. "Despite the higher fiscal deficit; the market borrowing number is below market...

  • NEW DELHI, Feb 28- India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad. Illegal deposits abroad cost India billions of dollars in lost revenue and Prime Minister Narendra Modi's...

  • MUMBAI/ NEW DELHI, Feb 28- India will introduce gold deposit accounts to utilise the 20,000 tonnes available within the country and launch a sovereign gold bond, the finance minister said on Saturday, but kept the import duty at the record 10 percent in a setback for jewellers. "Though stocks of gold in India are estimated to be over 20,000 tonnes, mostly this gold is...

  • *Hikes road and rail investment by $11 bln. NEW DELHI, Feb 28- Indian Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide...

  • NEW DELHI, Feb 28- India announced on Saturday a modest 7.9 percent increase in defence spending for the fiscal year starting April 1, suggesting that it will move only gradually with the military's long wish list for fighter jets, ships and artillery. After years of neglect, India is trying to narrow the military gap with China, which has been building up its fleet...

  • NEW DELHI— India's finance minister announced the government's new budget on Saturday, promising a slew of measures that attempt to balance welfare spending with high economic growth and infrastructure development, while vowing to keep a tight control on the fiscal deficit. "The credibility of India's economy has been re-established," Jaitley told...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "India is about to take off," Jaitley, 62, said early in his speech to lawmakers. "The world is predicting that this is India's...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. "The world is predicting that this is India's chance to fly." Reaping the benefits of low global prices for oil, India's main...

  • NEW DELHI, Feb 28- India's Finance Minister Arun Jaitley announced a budget for growth on Saturday, saying the economy was ready to "fly", that the government would boost investment and ordinary people should benefit. "India is about to take off," Jaitley, 62, told lawmakers after rising to deliver his first full-year budget since Prime Minister Narendra Modi's...

  • By Swati Pandey and Patturaja Murugaboopathy SYDNEY/ BANGALORE, Feb 27- Australia's retailers, hit by tight-fisted consumers as wages grow at their slowest since at least the late 1990 s, face a worsening downturn in revenue that bolsters the case for another interest rate cut next week by the central bank. Australia's 16 retailers with market capitalisation...

  • NEW DELHI— A government report says India's economy will grow more than 8 percent in the upcoming financial year and appears to have shaken off its persistent problems of high inflation, rising budget deficits and poor domestic demand. The Economic Survey, an annual report on the state of Asia's third-largest economy, said Friday that India appeared to have hit...

  • MUMBAI, Feb 27- Some staff at Indian conglomerate Sahara say they haven't been paid for several months, as the company tries to raise $1.6 billion to bail its boss Subrata Roy out of jail. Reuters interviewed 11 employees independently contacted in separate units in Delhi, Mumbai and Lucknow this week, and found workers at what was once one of India's highest...

  • India to roll out a 'disciplined budget'?  Friday, 27 Feb 2015 | 12:17 AM ET

    Jahangir Aziz, head of EM Asia Economic Research at JP Morgan, says the economic realities of India may prompt the government to refrain from big ticket spending.

  • India's government budget: What to expect  Thursday, 26 Feb 2015 | 10:30 PM ET

    Subir Gokarn, director of Research at Brookings India, outlines his expectations for the government budget due on Saturday.

  • Will railway plans bust India's fiscal deficit?  Thursday, 26 Feb 2015 | 8:43 PM ET

    While India faces issues in reining in its fiscal deficit, there is a need to increase investments to spur growth, says Duvvuri Subbarao, former governor of Reserve Bank of India.

  • CLP: China, India are primary growth markets  Thursday, 26 Feb 2015 | 6:38 PM ET

    Richard Lancaster, CEO of CLP, discusses the firm's performance in 2014. He also outlines the firm's focus within Asia, with China and India as its primary growth markets.

  • Can India's railway budget boost its economy?  Thursday, 26 Feb 2015 | 5:33 PM ET

    While plans to invest $137 billion in India's aging railway could be positive for the economy, more funding details are needed, says Nida Ali, economist at Oxford Economics.

  • Image of Asia: Improving India's crowded railway system Thursday, 26 Feb 2015 | 8:04 AM ET

    In this photo by Bikas Das, passengers hang from the doors of the coaches of a crowded local train on the outskirts of Kolkata, India. The railways budget unveiled Thursday by Railway Minister Suresh Prabhu envisions $137 billion being invested over the next five years to modernize trains and stations, improve safety and sanitation and expand the reach of the...

  • NEW DELHI, Feb 26- India's government unveiled plans on Thursday to invest $137 billion in its decrepit rail network over the next five years, heralding Prime Minister Narendra Modi's aggressive approach to building infrastructure needed to unlock faster economic growth. Over the next year, India will increase investment by about a half to 1 trillion rupees...

  • NEW DELHI, Feb 26- India will increase investment in its overloaded railway network to 8.5 trillion rupees over the next five years, the government said on Thursday, promising to modernise existing tracks but shying away from raising fares to fund the expansion. Presenting the railway budget just two days before the government delivers its first full annual...