Top economic news of the day

India Infoline News Service | Mumbai |

India’s exports grew 5.26% in dollars terms in April 2014 from a year ago, reversing two months of decline

The Reserve Bank said Indian companies will no longer be allowed to “raise External Commercial Borrowing loans from overseas branches or subsidiaries of Indian banks for the purpose of refinance/repayment of the rupee loans raised from the domestic banking system.” (BL)

The Heavy Industries Ministry will press for continuation of excise relief for the auto sector in the full Budget, which is likely to be presented in July by the new Government. The existing relief will end on June 30. (BL)

India’s exports grew 5.26% in dollars terms in April 2014 from a year ago, reversing two months of decline. Imports declined 15% in dollar terms, clearly indicating that industrial recovery remained elusive. (ET)

The National Highways Authority of India (NHAI) has set a target to award road projects totalling 6,000 km during the current financial year. (BS)
 

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