Fiscal deficit feeds into inflation, pushes up interest rates and pulls down growth. In 2011/12, India's fiscal deficit was 5.9 per cent of GDP, 1.3 percentage points more than what was forecast in Budget 2011. This comes on the heels of a fiscal deficit of over six per cent of GDP in two of the last three years.

A US-India trade group, US-India Business Council, expresses the hope that the government would deliver on foreign investor friendly key reforms during the budget session.

Prominent highlights of the Budget for 2012-13 presented by Finance Minister Pranab Mukherjee in the Lok Sabha on Friday:

Corporate America has urged India's Finance Minister to issue a bold Union Budget that would unleash the next generation of economic reforms and help the country realise its full growth potential.

Aviation is still hitting the headlines, for all the wrong reasons. The International Air Transport Association, an umbrella body of all travel agents, suspended Kingfisher Airlines from its clearing house following mounting unpaid dues.

India's economic situation today is reminiscent of late 2008 when Lehman Brothers collapsed. Inflation is high and the interest rate is being hiked to combat it. If you think this year is bad, wait till the next one comes around.

A sneak preview of the report of the Chawla Committee on Pricing and Allocation of Natural Resources. The emphasis is on markets.

All budgets are important, but some budgets are more important than others. Business Today chooses ten that have had the most impact on the nation's economy.

\"The sheer confidence this Budget represents is worthy of our praise,\" said Ron Somers, the president of the US-India Business Council (USIBC).

Realising 'right-fit' leaders are critical to sustaining growth, companies scurry to build a robust leadership pipeline - and some of them are succeeding.

Pranab Mukherjee's stewardship is missed at the North Block, 18 months into his tenure. He's been busy but not as the country's finance minister.

A clutch of Indian conglomerates is keen to grab a piece of the Indian defence pie. So, what’s stopping them?