7 Events That Contributed The Most To Indian Economy In 2014

3. Coal block cancellations

To cope up with the economic reforms and to boost the country's economy, the government decided to bring a bill on the coal block auction in the Lok Sabha. Although, the decision was not welcomed by lot of people but in September 2014, the Supreme Court cancelled 214 coal blocks, which were allotted between 1993 and 2011.

The Coal Mines (Special Provisions) Bill, 2014 replaced an ordinance that was propagated to begin auction of coal mines that were cancelled by the Supreme Court.

4. Fall in inflation

Wholesale price inflation hit a zero level in November, the lowest in about five and half years, on account of decline in prices of food, fuel and manufactured items. Industry has been demanding easing of interest rates to boost growth, which has slumped to 4.7 percent in 2013-14.

The Wholesale Price Index (WPI) based inflation was at 1.77 percent in October and 7.52 percent in November 2013. As per data released by the government, the food inflation fell to nearly three year low of 0.63 percent.

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