Kolkata: The West Bengal government achieved 7.6 per cent growth in GDP compared to the national average of 4.96 per cent during the last financial year. In industry, the growth rate was 6.24 per cent against the national average of 3.12 per cent, Finance Minister Amit Mitra claimed while releasing three books on the completion of two years rule of Mamata Banerjee-led government on Thursday.
In agriculture, the state recorded 2.56 per cent against national growth rate of 1.79, while in service sector the state achieved 9.48 per cent against the national record of 6.59 per cent, the minister said. Stating that Kisan credit cards with a limit of Rs 45,000 were distributed among ten lakh farmers, he said, 51,000 ponds were dug under the state government's water conservation programme in two years, he said. Mitra said that 17 per cent of the people were brought under reservation in the state.
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01:29 AM, May 17, 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
Madhya Pradesh has dislodged Bihar from its number one position in terms of highest GDP growth. The provisional data released by the Central Statistical Organisation for the year gone by shows Bihar's growth in per capita income has also been a disappointment when compared to MP. ...
09:41 PM, Mar 30, 2013
India has all the requirements to return to a GDP growth rate of 8 per cent in the coming years, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said, while highlighting that current account deficit is a big problem right now. ...
11:38 AM, Mar 07, 2013
A day before the Budget, Finance Minister P Chidambaram will table the Economic Survey 2013-14 in Parliament on Wednesday. The main focus of the survey is likely to be on accelerating economic growth. The Central Statistical Organisation estimates project a 5 per cent growth this year, which is the lowest in a decade. Prepared by a team of economists, led by Chief Economic Advisor Raghuram Rajan, the Survey is likely...
07:57 AM, Feb 27, 2013
Concerned over "sinking" growth rate, the Bharatiya Janata Party on Friday said the government has failed to rejuvenate the economy despite being in power for nine years. "The UPA has been in power for an uninterrupted period of nine years and even after these years of UPA governance we are faced with a gloomy situation in the economy. ...
06:06 PM, Feb 08, 2013
India's slowest growth in a decade could be worse than anticipated, as preliminary data released on Thursday showed the economy set to have grown 5 per cent in fiscal year ending next month, underscoring the urgent need for reforms to boost growth. ...
07:45 PM, Feb 07, 2013
There are more concerns on the economic front as quarter 2 GDP dipped to 5.3 per cent from 5.5 per cent in the first quarter. ...
11:40 PM, Nov 30, 2012
Moody's said on Tuesday that the outlook on its Baa3 rating for India is stable, in part due to the country's high savings and investment rates, as debate rages in Delhi over whether the country can avoid credit downgrades from other rating agencies. ...
11:10 AM, Nov 27, 2012
On Board PM's Special Aircraft: Prime Minister Manmohan Singh on Friday blamed the "lack of cohesive coordination" in domestic politics as one of the factors hampering growth rate. However, he asserted that "we should count our blessings" that despite global economic crisis the country was growing at 6.5 per cent. "There is a big economic crisis and even after that we have been able to maintain 6.5 per cent growth...
06:21 PM, Aug 31, 2012
New Delhi: There has been marginal improvement in the economic growth during the first quarter (April-June) of the current fiscal. The GDP growth for Q1, 2012-13 has been 5.5 per cent compared to 5.3 per cent in the January-March (Q4) quarter, 2011-12. The comparative figure in Q1 of 2011-12 was 8 per cent. For the year, growth dropped to a three-year low of 6.5 per cent against 7.8 per cent...
11:33 AM, Aug 31, 2012
New Delhi: Finance Minister P Chidambaram on Saturday asked banks to keep EMIs at affordable level to boost sale of consumer durables that will restart the engine of manufacturing and revive the cycle of investment. After a review meeting with the chiefs of public sector banks against the backdrop of slowdown in the economy, he also announced rescheduling of farm loans in drought-affected states and revision in procedures for easy...
11:34 PM, Aug 18, 2012
Mumbai: Prime Minister Manmohan Singh on Saturday said the present slowdown was not "inevitable or irreversible". Addressing Convocation ceremony at IIT Bombay in Mumbai, the Prime Minister said after half a century of zero rate of economic growth, from 1900 to 1950, India managed to register 3.5 per cent growth for three decades after Independence, from 1950 to 1980. But from 1980 to now, over the subsequent three decades, the...
09:42 PM, Aug 18, 2012
New Delhi: Indian economy is expected to grow at 5.5 per cent this year as "turbulent" global conditions, domestic policy "mis-steps" and poor monsoon are weighing on investor confidence and demand, Moody's Analytics has said. India's GDP growth rate is likely to be 5.5 per cent this year, while in 2013 growth is expected to be 6 per cent, adjusted from 6.2 per cent earlier, it said. "There has been...
02:18 PM, Aug 09, 2012
Mumbai: Painting a gloomy picture of the economy, the Reserve Bank of India on Monday indicated that it may not be possible to cut policy rates to boost growth in view of high inflation which could be aggravated by deficiency in monsoon. The RBI in its macroeconomic review, released on the eve of the quarterly monetary policy, asked the government to provide investment stimulus and take aggressive measures to contain...
09:18 PM, Jul 30, 2012
Beijing: China's economy grew 7.6 per cent in the second quarter of 2012 from a year earlier, its slowest pace in three years, confirming expectations of a downward trajectory that leaves full-year growth on course for its softest showing since 1999. The GDP number released on Friday marked the sixth straight quarter of easing growth and left analysts combing a raft of accompanying data to assess whether the second quarter...
08:31 AM, Jul 13, 2012
New Delhi: The Asian Development Bank (ADB) on Thursday lowered the growth forecast for India to 6.5 per cent for the current fiscal, from the earlier 7 per cent projection, on the back of subdued demand and high inflation. "India's economy is now expected to grow by 6.5 per cent in 2012, down from the previous forecast of 7 per cent. India's outlook is clouded by a combination of high...
03:45 PM, Jul 12, 2012
New Delhi: Planning Commission Deputy Chairman Montek Singh Ahluwalia has said that the Finance Ministry under Prime Minister Manmohan Singh will very quickly "resolve" uncertainty among investors caused by anti-tax avoidance rules which were unveiled in the Budget. Talking about former finance minister Pranab Mukherjee, he said that it was not right to put the blame for slow growth on any one person. Speaking to Karan Thapar on Devil's Advocate,...
08:17 PM, Jul 01, 2012
New Delhi: The Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia has said that it is not possible for India to achieve the 7.6 per cent growth target set earlier this year. His statement assumes significance in light of Prime Minister Manmohan Singh taking over the Finance Ministry. Speaking to Karan Thapar on Devil's Advocate, Montek said that it was more realistic to expect and 6.5-7 per cent GDP...
08:02 AM, Jul 01, 2012
New Delhi: The Bharatiya Janata Party and the Left Front hit out at the UPA government over falling the GDP. BJP leader Arun Jaitley said, "It's high time for the government to take concrete steps. The government has run out of ideas." Talking about policy paralysis, Jaitley said, "The government needs to build up consensus on policies within the party, alliance and the Opposition and come up with a proper...
04:08 PM, May 31, 2012
