New Delhi: Playing down fears of a slowdown, Planning Commission deputy chairman Montek Singh Ahluwalia said he is confident of 8.5 per cent growth this fiscal. According to the latest GDP data, the economy is down by more than a per cent compared to the previous quarter. In the January to March quarter, the GDP grew by 7.8 per cent against 8.2 per cent earlier. Last year's economy did grow...
07:42 AM, Jun 01, 2011
United Nations: The emerging economies of India, China and Brazil are leading the global economic recovery, according to a UN report released on Wednesday. "The rebound has been led by the large emerging economies in Asia and Latin America, particularly China, India and Brazil," the report said. The mid-year issue of the World Economic Situation and Prospects (WESP) said that "weaknesses in major developed economies continue to drag the global...
09:56 AM, May 26, 2011
Mumbai: In a narrow but volatile movements, the benchmark sensex closed nearly flat with upward bias, regaining 18K-level on short coverings in recently battered some of the capital goods and banking counters just two days ahead of the expiry of May contracts, despite positive Asian and European cues. Foreign Institutional Investors (FIIs) continued their selling for the eighth session in a row since May 12 and they pulled out Rs...
10:56 AM, May 24, 2011
London: The fairytale wedding of Prince William and Kate Middleton might well result in a huge financial burden on the sluggish British economy, with costs estimated to be billions of pounds. Going by estimates from various agencies as reported by the media in London, the wedding could cost the public exchequer at least five billions pounds, even though a large section believes the event would boost various sectors such as...
08:35 PM, Apr 29, 2011
New Delhi: Surging global oil prices and the RBI's tight monetary policy prompted the Asian Development Bank on Wednesday to lower its growth forecast for the Indian economy to 8.2 per cent for the current fiscal from the earlier projection of 8.7 per cent. "Rising oil prices will bring down the growth rate to 8.2 per cent in the year ending March, 2012. Also aggregate demand will tend to get...
03:11 PM, Apr 06, 2011
Hong Kong: China's economy is expected to grow 9.6 per cent in 2011 as fixed asset investment remains a key driver, the Asian Development Bank (ADB) said in a report released in Hong Kong on Wednesday. With inflationary pressures building and a tightened monetary policy, China's GDP growth was forecast moderate this year, compared with a growth of 10.3 per cent in 2010, said the ADB in its 2011 Asian...
02:15 PM, Apr 06, 2011
Johannesburg: The impact of recent natural disasters and the resulting nuclear crisis is unlikely to have a prolonged impact on Japan's economy, World Bank chief economist Justin Lin said on Wednesday. Lin told journalists at the University of Johannesburg that with reconstruction, Japan could increase its growth rate after six months. "Certainly it's a big shock on the Japanese economy," Lin said. "They are going to have some loss to...
12:02 PM, Mar 17, 2011
New Delhi: Led by higher than expected non-tax revenue like auction of 3G spectrum, Finance Minister Pranab Mukherjee today pegged the fiscal deficit at 5.1 per cent for the current financial year, and further reduced the estimates to 4.6 per cent for 2011-12. Mukherjee said the revenues from 3G and Broadband Wireless Access (BWA) spectrum auction (that garnered Rs 1.08 lakh crore) has helped government reduce the fiscal deficit for...
01:07 PM, Feb 28, 2011
New Delhi: India's economy will revert to the pre-crisis growth level of 9 per cent in the next financial year. "The Indian economy is expected to grow at 9 per cent with outside band of (+/-) 0.25 per cent in 2011-12,” Finance Minister Pranab Mukherjee said while unveiling the Budget proposals for 2011-12. He said the Indian economy has regained the pre-crisis growth momentum, but there is a need for...
11:45 AM, Feb 28, 2011
New Delhi: As Finance Minister Pranab Mukherjee rises to present the Union Budget 2011 today, he has a challenging economic situation to contend with. On the plus side, there has been a rebound in growth. But global crude oil prices are near $100 a barrel, inflation is high, as is the current account deficit. And there has been little progress on policy reform. Inflation has been in double digits for...
08:00 AM, Feb 28, 2011
A special focus show on the instrumental role of Central Excise and Customs in the development of Indian economy. ...
01:04 PM, Feb 27, 2011
The Economic Survey tabled in Parliament on Friday, pegged the economic growth at 8.75-9.25 per cent for fiscal year 2012. Chief economic advisor to finance ministry Kaushik Basu says India can achieve 10 per cent growth in GDP over the next three years. However, according to Basu, the biggest threat to GDP is the rapid rise in crude oil prices. "Crude shock is the biggest downside risk to GDP growth...
11:44 AM, Feb 26, 2011
Ahead of Budget 2011, Rajan Bharti Mittal, Vice Chairman and MD, Bharti Enterprises suggests ways to amplify GDP growth. ...
09:38 AM, Feb 25, 2011
New Delhi: Led by a smart recovery in farm output, the government on Monday estimated economic growth for the current financial year at 8.6 per cent, as against 8 per cent a year ago. Agriculture and allied activities are likely to grow at 5.4 per cent in 2010-11, compared to just 0.4 per cent in 2009-10, according to Advance Estimates released by the Central Statistical Organisation (CSO) on Monday. The...
11:34 AM, Feb 07, 2011
Mumbai: With a view to rein in high inflation, the Reserve Bank of India on Tuesday raised its key short-term lending and borrowing rates by 0.25 per cent each with immediate effect. The short-term lending (repo) rate has been hiked to 6.50 per cent and the borrowing (reverse repo) to 5.50 per cent, a move that will make funds expensive for banks and may lead to a hike in interest...
12:10 PM, Jan 25, 2011
Mumbai: RBI Governor D Subbarao on Monday said the country was facing surging inflation and that monetary policy needed to be calibrated to manage it as well as support growth, a clear hint that drastic measures are needed to rein in soaring prices. "A lot of other countries are still flirting with deflation ... still concerned that they might have deflation. On the other hand, we are having a surging...
06:29 PM, Jan 17, 2011
New Delhi: Prime Minister Manmohan Singh on Saturday said the Indian economy would record 8.5 per cent growth during the current fiscal and is expected to grow at the rate of 9 to 10 per cent from the next financial year despite the "uncertain" global scenario. Addressing the 9th Pravasi Bharatiya Divas here, he said high growth rate was vital to fund ambitious social development schemes. "Despite the uncertain global...
01:54 PM, Jan 08, 2011
Mumbai: Upbeat on the Indian economy and its growth trajectory, President Pratibha Devisingh Patil on Thursday said the country's GDP was headed towards a double-digit growth next fiscal. "This fiscal year, we are confident that our nation's economy will grow at about nine per cent. Next year, we should be on a sustained growth path of 9-10 per cent," Patil said at a function to kick-off public sector Central Bank...
01:36 PM, Dec 23, 2010
New Delhi: India's economic growth is likely to cross 9 per cent in the current fiscal on the back of better than estimated 8.9 per cent expansion in the first two quarters, Finance Minister Pranab Mukherjee said in a mid-term analysis of the economy for fiscal 2010-11. "Growth rate for the fiscal 2010-11 will be 8.75 per cent plus minus 0.35 per cent. In the first two quarters we have...
04:57 PM, Dec 07, 2010
New Delhi: Driven by good performance of agriculture and manufacturing, the Indian economy grew by 8.9 per cent in the second quarter of the current fiscal, up from 8.7 per cent in the corresponding period a year ago. The growth rate for the first quarter was revised upwards to 8.9 per cent from 8.8 per cent. This took the overall economic expansion during the first half (April-September) to 8.9 per...
11:31 AM, Nov 30, 2010
