Breaking the long lasted logjam, US President Barack Obam and Prime Minister of India – Narendra Modi signed the agreement that made the Indo-US nuclear deal operational.
India’s foreign exchange reserve rose to record value of $322 billion
Crossing the previous high of $321 billion in September 2011, India’s foreign exchange reserves touched a record $322 billion.
Ban on Indian mangoes lifted by European Union
In an attempt to restart the import of mangoes from india, European Union (EU) decided to lift a seven-month-long ban on the import of mangoes from India. The proposal to lift the ban was voted unanimously by the European Commission’s standing committee on plant health. As a result of this, India will be able to start the export again.
China’s GDP growth rate reaches 24-year low 7.4%
As an indication of the slowing down in the economy, China’s GDP growth rate is decreased to 7.4% in 2014. This is the lowest growth rate in the last 24 years of China’s economic history. The growth rate in 2013 was 7.7%.
India to cross China in GDP growth rate by 2017: IMF
According to IMF projections, India’s economic growth is expected to cross that of China by 2017. According to IMF India’s economy is expected to grow at the rate 6.5% in 2016-17, while the rate for China will be 6.3%.
TCS crosses RIL as a most profitable company
By overtaking the Reliance Industries Ltd, Tata Consultancy Services (TCS) recorded a net profit of Rs 5,328 crore for the quarter which ended December. By ending this run of RIL, TCS has become the first IT company that has topped the profit charge.
1% people will be richer than the rest in the world by 2016
According to Oxfam – an anti poverty charity, world’s wealthiest 1% people will be richer than the rest of the people by 2016.
Petrol prices down by Rs 2.42 per litre in the domestic market
As a result of fall in the prices of petrol in the international market, the fuel retailers in India have cut the prices of petrol by Rs 2.42 per litre and diesel by Rs 2.25 per litre
RBI lowers the rate for Home and Consumer loans
For the first time in almost two years, Reserve Bank of India governor Raghuram Rajan cut key interest rates by 25 basic points. As a result of this move, home and consumer loan rates are set to fall.
Global Oil prices fall to 6 yr low of $45 a barrel
Global oil prices have reached the six-year low of $45 a barrel. The low prices are considered to be good for emerging economies like India however is has negative side too.