New Delhi: President Pranab Mukherjee on Tuesday expressed confidence that the economy will return to higher growth path of 7-8 per cent in next two to three years and pitched for revitalising investments in the country. "We are confident that we will return to 7-8 per cent growth bracket in the next two to three years. We need to revitalise investment in the country for this purpose," Pranab said at the inaugural session of IFTDO's World Conference and Exhibition.
India's economic growth was over 8 per cent in 2009-10 and 2010-11 fiscals, but it declined to 6.5 per cent in the following financial year. Further, India's economic growth slowed to a decade low of around 5 per cent in 2012-13 mainly due to global slowdown. "Though our GDP growth in 2012-13 at 5 per cent is the lowest in ten years, it is much higher than that of G-7 countries," he said.
"International projection point out that our growth will continue to be better that that of these economies for the next two years," the President said. Pranab further said that while Indian economy cannot remain immune to a prolonged global financial crisis, "we are working hard to reverse the deceleration in growth."
He said the government is making systems responsive to the industries' need for facilitation and timely clearances. On FDI, the President said: "We welcome foreign investment which has a critical role in bringing in modern technology and globalising our economy."...
08:07 PM, Apr 23, 2013
New Delhi: Improvement in performance of agriculture and manufacturing sectors is expected to push the economic growth rate to 6.4 per cent in 2013-14 from 5 per cent in the previous fiscal, PM's economic advisory panel said on Tuesday . "Economy will grow at higher rate from now. We projected growth rate of 6.4 per cent in the current fiscal", Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said...
11:41 AM, Apr 23, 2013
Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan on Thursday said all the measures proposed in the Budget for 2013-14 taken together will help the country register a growth of 6.5 per cent in the next fiscal year. ...
08:03 PM, Feb 28, 2013
New Delhi: To add to the woes of the common man who is already reeling under rising prices and blinding inflation, the government has pitched in with a diesel price hike that is likely to come into effect in two months. Prime Minister's Economic Advisory Council Chairman C Rangarajan has said that the hike can be expected any time in the next two months. He, however, added that it was...
08:54 AM, Aug 21, 2012
New Delhi: The Indian economy is likely to grow at 6.7 per cent in the current fiscal year, C Rangarajan, chairman of the PM's economic advisory council (PMEAC) told reporters during the mid-year economic outlook on Friday. The PMEAC has also pegged the inflation between 6.5 and 7 per cent. In recent years, the advisory panel has been overly optimistic about India's economic performance, and the revised forecasts are higher...
12:15 PM, Aug 17, 2012
Kolkata: The Centre is determined to contain fiscal deficit to spur economic growth and will take action in this regard, the chairman of the Prime Minister's Economic Advisory Council, C Rangarajan, on Friday said. "There is a debate between austerity and growth and we have made up our mind to contain fiscal deficit," Rangarajan said on the sidelines of a function on Statistics Day at the Indian Statistical Institute. He...
05:23 PM, Jun 29, 2012
India's industrial output unexpectedly contracted 3.5 per cent in March from a year earlier, government data showed on Friday. ...
12:04 PM, May 11, 2012
New Delhi: Prime Minister's Economic Advisory Council Chairman C Rangarajan said that the government should consider decontrolling diesel prices to keep petroleum subsides at the budgetary level. "I think some action will be required on diesel deregulation in order to keep petroleum subsides at the budgetary level," said PMEAC chairman Rangarajan. "Some policy decisions will be required, I think finance minister Pranab Mukherjee must be referring to that (diesel deregulation)...,"...
09:01 AM, Mar 28, 2012
New Delhi: The Prime Minister's economic advisory panel on Wednesday projected 7.5 - 8 per cent growth rate for the next fiscal and said the country can achieve a higher economic expansion if the global environment turns favourable. "We might be able to achieve 8 per cent growth on our esteem... if the world environment is favourable, we will be able to achieve high growth rate," the Chairman of the...
12:16 PM, Feb 22, 2012
New Delhi: Highlights of the latest review by the Prime Minister's Economic Advisory Council headed by former Reserve Bank governor C. Rangarajan, barely a week ahead of the presentation of the federal budget: -Economy expected to grow at 8.6 per cent in 2010-11 and 9 percent next fiscal -Agriculture expected to grow at 5.4 per cent in 2010-11 and 3 per cent next fiscal -Industry expected to grow at 8.1...
04:17 PM, Feb 21, 2011
Says despite fiscal deficit, funds for infrastructure shouldn't be curtailed. ...
05:40 PM, Feb 19, 2010
Inflation may cross the 6 pc mark by end of fiscal, PM's economic panel has said. ...
12:24 PM, Oct 22, 2009
Fiscal deficit pegged at 10.09 percent of GDP this fiscal year. ...
12:32 PM, Oct 21, 2009
Most opposition ruled state's CMs also criticised the budget. ...
10:30 PM, Feb 16, 2009
Inflation may begin to subside in next 12 months though growth slows down too. ...
03:58 PM, Aug 13, 2008
Mumbai: Mumbai Indians captain Sachin Tendulkar feels that they should have finished the match against Pune Warriors by the 17th over. Mumbai Indians won the match by seven wickets but it went down to the wire with Rohit Sharma hitting Murali Kartik for a six off the last delivery of the match. "Our batting should have been a bit better. Ideally, we should have finished the match in the 17th...
06:03 PM, Jan 17, 2008
