New Delhi: The Prime Minister's Chief Economic Advisor Dr C Rangarajan has admitted that a hike in diesel and LPG prices is imminent despite a steep hike in petrol prices last week. While speaking to Karan Thapar on Devil's Advocate, Dr Rangarajan said the government can soften the blow but fuel price hike is the need of the hour to contain the fiscal deficit. Here's an excerpt of the interview:...
07:17 AM, Jun 02, 2012
Prime Minister Economic Advisory Council chairman C Rangarajan has admitted that the economic situation is critical. ...
10:55 PM, Jun 01, 2012
New Delhi/Mumbai/Nashik: The dramatic drop in Indian economic growth isn't bothering the likes of Mahendra Saraf. A farmer, he works in a sector that has seen growth shrink to 1.7 per cent in the first three months of 2012 against 7.5 per cent in the same period last year. But Mr Saraf, 26, is confident the blow to his profits will be cushioned by government agricultural subsidies. "Global and domestic...
01:02 AM, Jun 01, 2012
With growth sharply falling and exacerbating India's economic woes, was Bharat Bandh called by the BJP and the Left a thoughtless mistake? ...
09:35 PM, May 31, 2012
Mumbai: India's growth story is slowly losing its sheen and has hit a three-year low with the GDP growing at just 6.5 per cent in 2011-12, as compared to an impressive 8.4 per cent in the previous fiscal. The GDP growth in the January-March quarter, 2011-12, was just 5.3 per cent compared to 9.2 per cent in the same period in 2010-11. According to a CNBC-TV18 poll, the Q4 GDP...
11:26 AM, May 31, 2012
Bangalore: India's annual economic growth probably held steady in the January-March quarter at 6.1 per cent and the global economic slowdown, government policy paralysis and a record low currency suggest little chance of a pick up in the current quarter. A poll of 31 economists produced a median forecast of 6.1 per cent, unchanged from the growth of the October-December quarter. Forecasts ranged from 5.5 per cent to 7.3 per...
08:31 AM, May 31, 2012
Manipal: Amid persisting global uncertainties, Finance Minister Pranab Mukerjee on Saturday said that India's domestic demand, high savings rate and regulatory mechanisms make it a resilient economy. He, however, emphasised upon the need for increased coordination among countries to realise collective gains in the face of global economic woes. Mukherjee further said that performance of Asian economies in short to medium-term is crucial not only to keep the engine of...
10:48 PM, May 26, 2012
Amid raging protests by parties cutting across the political spectrum for a partial rollback on the petrol price hike, Chief Economic Advisor Kaushik Basu has said that a rollback of any kind will hurt India's fiscal deficit target badly, leading to price increase in general. In an interview with Karan Thapar on 'Devil's Advocate', the Chief Economic Advisor said that oil price regulations had to be made in such a...
08:10 PM, May 26, 2012
Guwahati: Former President A P J Abdul Kalam on Friday said the country's economy was resilient to withstand global pressures in the current economic slowdown. "India has the potential to come out of this difficult situation because of its inherent strengths. The strengths are the purchasing power of 400 million middle class citizens and 600 million youth willing to take up challenging missions," he said at the 14th convocation of...
04:42 PM, May 25, 2012
Michael Porter The Man: Is the Bishop William Lawrence University Professor, Harvard Business School. Porter is every B-School students staple diet; gave the term competitive advantage and several frameworks"Five Forces, Cost / Differentiation"to think about management problems; founder of Monitor, a consultancy that Rahul Gandhi started his career in. He tells us how to get business and society to work together. The Oeuvre: Has written widely on management strategy and...
11:08 AM, May 24, 2012
New Delhi: The Government on Tuesday said the global slow down due to the eurozone crisis has impacted the Indian economy and steps are being taken to tackle the situation. "Global slowdown due to unfolding of eurozone sovereign debt crisis has, inter-alia, impacted the Indian economy through deceleration in exports, widening of trade and current account deficit, decline in capital flows, fall in the value of Indian Rupee, stock market...
05:13 PM, May 22, 2012
Jalandhar: Buried in recent monthly data for wholesale prices in India, the wild gyrations of a humble vegetable tell the tale of an economy trapped in inflation by its own rigidities. Back in December, after a bumper harvest of potatoes, furious farmers dumped tonnes of their crop on roads in protest over a crash in prices: four months later, the annual wholesale inflation rate of the potato is galloping at...
12:33 PM, May 22, 2012
New Delhi: India's total outstanding debts stood at Rs 39,38,474 crore as of fiscal 2010-11. Of this, internal debt accounts for Rs 37,80,835 crores and external debt Rs 1,57,639 crore. The external debt as on March 31, 2011 includes Rs 1,752 crores as outstanding debt from USA. This was stated by Minister of State for Finance Namo Narain Meena in a written reply in Lok Sabha. The amount of annual...
11:25 PM, May 18, 2012
New Delhi: The government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit. Two days after announcing in Parliament, Union Finance Minister Pranab Mukherjee announced the first steps in that direction. This is another austerity drive from the government that is running out of ideas to the run the economy. There will...
09:43 PM, May 18, 2012
New York: India can grow at between 8 or 9 per cent for the next 20 years with a supportive global environment, its Planning Commission's Deputy Chairman Montek Singh Ahluwalia has said. "In the five years prior to the crisis, the Indian economy grew at an average rate of 9 per cent. Following the crisis, it slowed down to an average of just over percent," Ahluwalia said on Thursday during...
03:28 PM, May 18, 2012
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