New Delhi: Terming the decline in industrial output in September as "very disappointing", Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said the impact of recent reforms initiatives will manifest in the data for the second half of the fiscal. "The Index of Industrial Production (IIP) for September is obviously very disappointing...the September data does not reflect the impact of any recent initiatives. These initiatives will also take some...
02:59 PM, Nov 12, 2012
Hyderabad: Amid threats that India's credit rating could be downgraded and a slowdown in the economy, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said that the government has taken several steps to boost investor confidence and more such measures may follow. "Lot of examples can be given on the steps the government has taken to get rid of impediments in movements of large projects. I think I am...
04:35 PM, Nov 05, 2012
Gurgaon: With economy showing signs of revival in the second quarter of this fiscal, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Saturday said that the deceleration in GDP growth has bottomed out. "In the first quarter of this financial year, GDP growth was 5.5 per cent, while in last quarter of last financial year it was 5.3 per cent, so it can be said that deceleration in growth has...
03:58 AM, Nov 04, 2012
Mumbai: A day after lowering country's growth forecast to 5.8 per cent, the Reserve Bank on Wednesday said it will step in if economic expansion falls below the current levels of 5.5 per cent. RBI also expressed the hope that the economy will move up from the current quarter. "We will certainly respond if growth moderates (from the present level), but that is unlikely as per our projections. We expect...
12:54 AM, Nov 01, 2012
New Delhi: Faced with difficult government finances, Prime Minister Manmohan Singh on Tuesday asked cash-rich 25 central PSUs to invest their surplus fund of Rs 2.5 lakh crore to reignite economic growth. In a meeting convened by the Prime Minister and also attended by Finance Minister P Chidambaram, the top PSUs were given a stern message that they either invest their huge surplus or pay it back as special dividend...
09:45 PM, Oct 23, 2012
New York: Citing uncertainty in global economic scenario, Prime Minister Manmohan Singh today said the government's endeavour to achieve 8 per cent annual growth will not be an easy task, even though it is not unattainable. At the Combined Commanders' Conference here, Singh said India needs an aggregate growth rate of 8 per cent per annum to create new job opportunities for more than 10 million persons who are going...
07:39 PM, Oct 19, 2012
Mumbai: The economy will turn the corner in the next six months as the deceleration of the past several quarters has been arrested, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Monday. "It is our hope that in the second half of the year, which has begun just now, many of the measures taken by the government in the recent past to revive investor confidence will lead to a...
02:06 PM, Oct 15, 2012
New Delhi: The World Bank on Wednesday cut India's growth forecast for the current fiscal to 6 per cent, from the earlier estimate of 6.9 per cent, citing corruption scandals and uncertainty in policy issues. "Real GDP growth is forecast to reach around 6 per cent in 2012-13, after 5.3 per cent growth in the fourth quarter of 2011-12 and 5.5 per cent growth in the first quarter of 2012-13,"...
11:21 PM, Oct 10, 2012
New Delhi: Even though Indian economy's growth declined to 6.5 per cent in 2011-12 and further to 5.5 per cent in the first quarter of this fiscal, it is no cause for undue worry, Finance Minister P Chidambaram said on Monday. "These are challenging times for global economy. They are affecting market sentiments everywhere," the finance minister said in his opening remarks at the annual Economic Editors' Conference in New...
11:50 AM, Oct 08, 2012
Mumbai/Bangalore: India will likely borrow an additional 500 billion rupees for the year ending in March and miss its fiscal deficit target, a Reuters poll showed, raising doubt about the fiscal discipline of a country whose credit ratings are under threat. India's fiscal deficit is expected to rise to 5.8 per cent of gross domestic product (GDP), higher than the government's target of 5.1 per cent of GDP given in...
01:59 PM, Sep 27, 2012
New Delhi: India would be lucky to meet a target to keep the country's fiscal deficit at 5.1 per cent of the gross domestic product (GDP), Finance Minister P Chidambaram said on Monday. The government last week raised diesel prices, a politically controversal move aimed at reining in a widening fiscal deficit and reviving investor sentiment. The government projects a fiscal deficit of 5.1 per cent of gross domestic product...
12:30 AM, Sep 18, 2012
New Delhi: In view of fragile economic recovery, Plan panel has decided to lower annual average economic growth rate to 8.2 per cent in the 12th Five Year Plan (2012-17) from 9 per cent envisaged earlier. "The panel will propose the annual economic growth rate target of 8.2 per cent for the 12th Plan. The issue will come up for discussion at the meeting of the Full Planning Commission, to...
03:02 PM, Sep 06, 2012
Mumbai: The BSE Sensex lost as much as 190 points intraday on Wednesday as heavy fall in major blue chips indicated that the foreign institutional investors may have offloaded some exposure. The Indian rupee too depreciated by 23 paise to 55.88 against the US dollar. But the defensives like HDFC, ITC, HUL and TCS managed to limit the downside. Another reason could be that investors may have lost patience to...
09:36 AM, Sep 05, 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
CNBC-TV18 Banking Editor Latha Venkatesh explain what the Q1 numbers of GDP mean. ...
03:15 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: India's GDP growth likely languished around its lowest in three years in the quarter that ended in June, offering no respite for Prime Minister Manmohan Singh as he struggles to escape from a series of political scandals that have paralysed his economic agenda. Weak demand in the West has hit exports, but the heaviest toll on the economy is from overspending and a lack of reforms at home...
07:41 AM, Aug 31, 2012
New Delhi: Economic growth during the April-June quarter is expected at 5.2 per cent and the economy will continue to perform below potential for the entire year, research firm Moody's said on Thursday. "(April-June quarter) GDP figures are expected to show the economy grew by just 5.2 per cent year-on-year," Moody's Analytics said in its India Spotlight report. The first (April-June) quarter GDP numbers are scheduled to be released on...
09:44 AM, Aug 30, 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
