Chandigarh: The government on Saturday said it will spend nearly two per cent of GDP on health care sector. "This is in the 12th Plan. We will be spending about two per cent of our GDP, which is 100 per cent increase. The government is taking all steps to boost the health sector. The Prime Minister has agreed to increase spending on health sector from the 1 per cent of...
04:58 AM, Aug 12, 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
Index of Industrial production (IIP) for the month of June has come in at a dismal -1.8 per cent, way below the CNBC-TV18 poll number of 1 per cent. The number suggests that all gains of the previous month have been wiped out. The impact of the number was felt on the stock market, which gave up some of its morning gains. The IIP figure for the month of May,...
11:36 AM, 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
New Delhi: The results of the 20th round of the 'Survey of Professional Forecasters' conducted by the Reserve Bank shows a downward revision in the median growth forecast for 2012-13 to 6.5 per cent. The industry and service sector median growth forecasts have turned low, but are expected to pick-up beginning Q2 of 2012-13. The average inflation outlook has been revised upward to 7.3 per cent for 2012-13 and moderation...
05:30 PM, Jul 30, 2012
Thiruvananthapuram: It is nothing new for the state to witness remittance from Keralites working abroad to account for a significant portion of its GDP. In 2011, at Rs 49,965 crore, it touched an all-time high of 31.2 per cent of the state GDP, according to a recent report on Kerala Migration Survey, prepared by Centre For Development Studies (CDS), for Department of Non-resident Keralites Affairs (NORKA) and Ministry of Overseas...
01:15 PM, Jul 17, 2012
Washington: The International Monetary Fund (IMF) has lowered India's growth forecast by 0.7 percentage points to 6.1 per cent for 2012, the steepest cut for any nation, in view of the deteriorating global economic situation. The IMF, in its update of the World Economic Outlook, has also cut India's growth projection for 2013 by a similar margin to 6.5 per cent. "In the past three months, the global recovery, which...
08:38 PM, Jul 16, 2012
New Delhi: Planning Commission on Monday said India will not be able to achieve $ 1 trillion target for investment in the infrastructure sector during the 12th Plan (2012-17) in view of lower economic growth prospects. "The earlier figure was based on the 9 per cent growth target and if the growth target is less, it (investment target) does not have to be same number," Planning Commission Commission Deputy Chairman...
04:58 PM, Jul 16, 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
Sydney: Moody's Investors Service on Monday said it was maintaining a stable outlook on India's Baa3 rating as problems such as slower growth and higher inflation were long-standing and already factored into the outlook. The agency said that global and domestic factors, including potential shocks in agriculture, could keep India's growth below trend for the next few quarters. But it felt recent negative trends were unlikely to become permanent or...
03:30 AM, Jun 26, 2012
Kolkata: Finance Minister Pranab Mukherjee on Saturday said he was "concerned, not depressed" over signs of weakness in the Indian economy and announced that the central government would Monday unveil measures to improve market conditions. "Yesterday (Friday), the secretary, economic affairs, had consultations with RBI (Reserve Bank of India) Governor DV Subbarao. We will be able to take certain measures, which will be announced on Monday, which will improve the...
02:01 AM, Jun 24, 2012
New Delhi Amid a barrage of criticism from various global agencies on economy, and rating outlook downgrades, the government has come out with a 'fact book' listing the strengthens of India such as political stability and sound financial system. Emphasising the strong economic fundamentals, the Finance Ministry's fact book titled 'India: The Incredible Investment Destination' has said the country's real GDP is 60 per cent higher than what it was...
05:41 PM, Jun 21, 2012
Los Cabos: As the initial euphoria about Greece elections died down, the economic crisis took centre-stage. Prime Minister Manmohan Singh addressed some critical issues relating to the slowdown in India's economy in his address during the Plenary Session of the seventh Summit of the Group of 20 developed and developing countries. "Like other countries, we too allowed the fiscal deficit to expand after 2008 to impart a stimulus. We are...
07:36 AM, Jun 19, 2012
Rio De Janeiro: Some large economies show significantly lower growth when natural assets such as forests and water are factored into growth indicators, an index showed on Sunday, a few days before an international sustainability summit starts in Rio de Janeiro. The Inclusive Wealth Index was unveiled by the United Nations University's International Human Dimensions Programme on Global Environmental Change (UNU-IHDP) and the United Nations Environment Programme (UNEP). Scientists and...
05:11 AM, Jun 18, 2012
Bangalore: India's industrial output probably eked out a small rise in April over a year earlier of just 1.7 per cent after falling in March, a pace suggesting little pick up in the economy after a slump in growth at the start of the year. In the first three months of calendar 2012 economic growth slumped to its weakest annual pace in nine years, sparking calls for policy action from...
10:21 AM, Jun 12, 2012
Mumbai: Slowing GDP growth and political roadblocks to economic policy-making are just some of the factors pushing up the risk that India (unsolicited BBB-/Negative/A-3) could lose its investment-grade rating. That's according to a recently released report by Standard & Poor's Ratings Services, titled "Will India be the first BRIC fallen angel?" The report states that the Indian government's reaction to potentially slower growth and greater vulnerability to economic shocks could...
03:31 PM, Jun 11, 2012
Mumbai: Days ahead of credit policy review by the Reserve Bank, Chief Economic Adviser Kaushik Basu on Friday said "out-of-the-box" thinking is needed in the monetary policy and favoured slashing interest rates to boost sagging economic growth. "What we need to do is to create more space for the private sector to invest. But my personal feeling is that given that growth in doing so poorly, and the investment mood...
03:31 AM, Jun 09, 2012
