Top economic news of the day

India Infoline News Service | Mumbai |

Foreign direct investment (FDI) in the services sector declined 54 % to US$2.18 bn during April-February of 2013-14 from a year earlier.

To present a more realistic picture of the economy, the Index of Industrial Production and Wholesale Price Index are to be re-cast.The changes, based on the suggestions made by a high-level committee headed by Saumitra Chaudhuri, Member, Planning Commission and Prime Minister’s Economic Advisory Council, will include a shift in the base year and the product list for both the IIP and the WPI.(BL)

Foreign direct investment (FDI) in the services sector declined 54 % to US$2.18 bn during April-February of 2013-14 from a year earlier. (ET)

The Finance Ministry has asked public sector banks to step up efforts for mobilizing low-cost CASA deposits and focus on recovery in a bid to improve their financial performance. (ET)

Finance Minister P Chidambaram asked the Asian Development Bank (ADB) to double its lending capacity to US$20 bn a year in 20 years to help emerging market and poor economies. He flayed ADB for raising loan charges, despite opposition from most countries.(BS)
 

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