For the year, growth dropped to a three year low - 6.5 per cent against a robust 7.8 per cent last year. ...
11:57 PM, May 31, 2012
New Delhi: India's economy will likely grow 7.6 per cent in the fiscal year 2012-13, Kaushik Basu, chief economic adviser in the Finance Ministry, said on Thursday. The economy probably grew 6.9 per cent in the previous fiscal year, its slowest in three years. The International Monetary Fund (IMF) has pared India's economic growth projection to 6.9 per cent in 2012 from its January estimate of 7 per cent, the...
02:23 PM, May 10, 2012
Washington: Reforms are unlikely before the 2014 elections, Prime Minister's Economic Advisor Kaushik Basu has suggested. Speaking at the US-based think tank Carnegie Endowment meet on Wednesday, Basu said relatively less important bill might go through Parliament. He was addressing concerns expressed by US corporates on some recent decisions of the Indian government. Basu blamed the slowdown in decision making on the spate of recent corruption related scams saying the...
08:49 AM, Apr 20, 2012
ITC Chairman YC Deveshwar said business leaders shouldn't spread negativity as it affects economic growth. ...
04:03 PM, Apr 19, 2012
Mumbai: In a bid to boost growth, the Reserve Bank of India (RBI), in its annual monetary policy for 2012-13 , has cut the policy rates by 50 basis points. The repo rate now stands at 8 per cent from 8.50 per cent earlier. Similarly, the reverse repo rate is now at 7 per cent from 7.50 per cent earlier. Lauding the central bank, C Rangarajan, chairman of Prime Minister's...
01:12 PM, Apr 17, 2012
Beijing: World Bank has projected the Chinese economy to grow at 8.2 per cent this year, a notch lower than the Asian Development Bank prediction of 8.5 per cent. China's GDP which grew at 9.2 per cent in 2011 is expected to expand at 8.2 per cent in 2012 and 8.6 per cent in 2013 as domestic demand will continue to boost the world's second-largest economy amid weak external demand,...
12:37 PM, Apr 12, 2012
New Delhi: After presenting the Budget 2012 in Parliament, Finance Minister Pranab Mukherjee said that the Budget presented by him was one for growth with stability on the price front. In an interview with Lok Sabha TV, Pranab said that the primary concern of the Budget was how to bring back growth. "Our aim was to bring the economy back on track and focus on how to moderate double-digit inflation...
02:18 PM, Mar 16, 2012
New Delhi: Finance Minister Pranab Mukherjee is all set to present the Union Budget in Parliament on Friday. This will be his seventh and it comes against the backdrop of slowing growth and burgeoning fiscal deficit. The government will have to do a balancing act, by raising taxes and at the same time giving incentives to boost investor confidence. A balancing act is needed in a bid to spur growth....
07:29 AM, Mar 16, 2012
New Delhi: The Indian economy will soon revert to the 8-9 per cent growth trajectory on the back of strong fundamentals and favourable domestic factors, President Pratibha Patil said on Monday. "My government is confident that it will soon steer the country back to the high growth trajectory of 8-9 per cent," Patil said while addressing the joint sitting of Parliament that heralds the beginning of the Budget Session. As...
12:22 PM, Mar 12, 2012
New Delhi: President Pratibha Patil on Monday addressed her last joint session of Parliament before her term ends but the Bharatiya Janata Party (BJP) said that the speech had no new direction and added that the country could soon witness mid-term elections. While the President spoke about the economy, security, terrorism, relations with Pakistan, corruption, black money, sub-quota for minorities, some Opposition MPs tried to disrupt the address and raised...
11:38 AM, Mar 12, 2012
In Q3, that's between October and December, the economy grew by just 6.1 per cent, the slowest in almost 3 years. ...
10:42 PM, Mar 01, 2012
New Delhi: India's economic growth slowed to its weakest annual pace in almost three years in the three months to December, as high interest rates and rising input costs constrained investment and manufacturing. Gross domestic product rose 6.1 per cent in October to December compared with a year earlier, a lower than expected increase, figures from the federal statistics office showed. That marked a sharp pullback from 6.9 per cent...
02:13 AM, Mar 01, 2012
New Delhi: Finance Minister Pranab Mukherjee on Wednesday termed the third quarter GDP number of 6.1 per cent as "disappointing" but expressed the hope that economy will register a growth of 7 per cent for the entire fiscal. "No doubt, it is disappointing 6.1 per cent... but not unexpected," he said. "If, I take first quarter, second quarter, third quarter taken together, it is also indicating a downward trend," he...
01:37 AM, Mar 01, 2012
New Delhi: India's Gross Domestic Product (GDP) has dipped sharply to 6.1 per cent in the third quarter ending December 2011. The growth is the lowest in almost two years and analysts say the outlook is ominous if the Centre and the Reserve Bank of India (RBI) don't take remedial action immediately. The GDP growth is the slowest in 11 quarters. It was 6.9 per cent in the previous quarter...
11:31 AM, Feb 29, 2012
Patna: Bihar's average economic growth rate in the past five years stood at 11.3 per cent, Deputy Chief Minister Sushil Kumar Modi said on Monday. Quoting a report by the Central Statistical Organisation (CSO) on the basis of 2004-05 price base, Modi said the economic growth rate of Bihar over the past five years stood at 11.3 per cent and the same in 2011-12 is expected at 13.13 per cent....
06:26 PM, Feb 14, 2012
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