Personal FN The year 2011 was rather turbulent for the Indian economy as it was steered by series of downbeat economic and geopolitical events, both in India as well as across the globe. As the Reserve Bank of India (RBI) adopted an anti-inflationary monetary policy stance, to tame the inflation bug, it took a toll on the economic growth rate clocked by our country as it dwindled due to high...
05:41 PM, Feb 21, 2012
New Delhi: Cement makers on Monday requested the government to bring to an end the existing anomaly, where duty on import of inputs is higher than on finished product, in the forthcoming Budget. "The Government should scrap import duty on coal, pet coke, gypsum and other fuels. The cement industry is heavily dependent on imported coal and pet coke due to short supply of indigenous coal," JK Lakshmi Cement Managing...
05:37 PM, Feb 20, 2012
By Dr Rupa Rege Nitsure Just a couple of weeks ago, the rating agency Standard & Poor's has issued a warning that the balance of risk factors for India's sovereign credit rating has shifted towards the negative on the back of its weak fiscal position, high inflation and slower economic growth. The Reserve Bank of India (RBI) governor too affirmed that "fiscal slippage" was acting as a threat to RBI's...
05:26 PM, Feb 20, 2012
Washington: President Barack Obama will unveil a budget on Monday that projects a $901 billion deficit in fiscal 2013 while earmarking billions of dollars for jobs and infrastructure, a senior White House official said on Friday. Obama's proposal to the Congress will forecast the deficit in fiscal 2012 at $1.33 trillion before declining the following year. It will account for 5.5 per cent of gross domestic product (GDP), the official...
12:47 AM, Feb 11, 2012
New Delhi: The BJP on Wednesday targeted Prime Minister Manmohan Singh on the state of the Indian economy, saying the world renowned economist has been making tall claims about the growth rate despite the figure falling below 7 per cent. Describing Singh as one of the most brilliant economists which the country could have seen as a Prime Minister, BJP spokesperson Rajiv Pratap Rudy sought to know from him why...
08:30 PM, Feb 08, 2012
Former IPL chief Lalit Modi has lashed out at the BCCI for its running of the lucrative Twenty20 league. ...
10:10 PM, Feb 07, 2012
New Delhi: The economic growth is likely to fall to a three-year low of 6.9 per cent in 2011-12, mainly due to sharp slowdown in manufacturing, agriculture and mining sectors, against 8.4 per cent expansion in the last fiscal. Agriculture and allied activities are likely to grow at 2.5 per cent in 2011-12, compared to a robust growth of 7 per cent in 2010-11, according to the Advanced Estimates released...
11:51 AM, Feb 07, 2012
New Delhi: With the budget session round the corner, Union Finance minister Pranab Mukherjee has said that India may have to settle for a GDP growth of 7 per cent in the coming year. In an exclusive interview to Network 18, Mukherjee said, "In the first two quarters, our GDP growth is 7.3. I don't think in the remaining two quarters there will be substantial improvement. Perhaps we may have...
10:56 AM, Feb 06, 2012
With the budget session round the corner, Finance minister Pranab Mukherjee has said that India may have to settle for a GDP growth of 7 per cent in the coming year. ...
09:52 AM, Feb 06, 2012
New Delhi: Addressing the Conference of Chief Secretaries in New Delhi, Prime Minister Manmohan Singh on Friday said that monetary tightening together with difficult global economic environment has impacted rate of growth adversely. Hailing as "creditable" the growth rate of the country's economy at the rate of 8.4 per cent in the backdrop of a crisis-ridden world economy, Singh said that the growth in the current financial year is, however,...
02:44 PM, Feb 03, 2012
New Delhi: The Indian government on Tuesday revised economic growth for 2010-11 down to 8.4 per cent from the earlier estimate of 8.5 per cent. "The Gross Domestic Product (GDP) at factor cost at constant prices in 2010-11 has registered a growth of 8.4 per cent over the previous year," according to provisional data released by the ministry of statistics and programme implementation here. The finance ministry said in the...
03:35 AM, Feb 01, 2012
New Delhi: The Reserve Bank of India (RBI) cut the cash reserve ratio (CRR) by 50 bps to 5.50 per cent which will be effective from January 28 and held repo rate steady at 8.5 per cent. The move will eases tight liquidity in the banking system and underscore a policy shift from fighting inflation to reviving growth. The CRR cut will infuse Rs 32,000 crore into banks. The reverse...
11:09 AM, Jan 24, 2012
New Delhi: A 10 per cent increase in Internet penetration in India can increase the gross domestic product (GDP) by 1.08 per cent, says a report released on Thursday by the Indian Council for Research on International Economic Relations (ICRIER). "Indian states with higher Internet penetration can be expected to grow much faster, and by 1.08 per cent for every 10 per cent increase in the number of Internet subscribers,"...
05:52 PM, Jan 19, 2012
Beijing: China's economy grew at its weakest pace in 2.5 years in the latest quarter and it appeared headed for an even sharper slowdown in the coming months as export demand fades and the housing market falters. The fourth-quarter year-on-year growth of 8.9 per cent, although slightly stronger than the 8.7 per cent that economists polled by Reuters had predicted, may give Beijing yet another reason to gently ease monetary...
11:22 AM, Jan 17, 2012
Lawrence Summers has served as US treasury secretary under Bill Clinton, a post currently held by his protegee Timothy Geithner. Presently, he teaches economics at Harvard University, where he was formerly the president. He comes from a family of economists. His parents are economists and he is a nephew of Paul Samuelson and Kenneth Arrow, both Nobel Laureates in economics. How is India positioned as a global consumption engine? India...
03:39 PM, Jan 13, 2012
Lawrence Summers has served as US treasury secretary under Bill Clinton, a post currently held by his protegee Timothy Geithner. Presently, he teaches economics at Harvard University, where he was formerly the president. He comes from a family of economists. His parents are economists and he is a nephew of Paul Samuelson and Kenneth Arrow, both Nobel Laureates in economics. How is India positioned as a global consumption engine? India...
11:00 AM, Jan 13, 2012
New Delhi: Finance Minister Pranab Mukherjee on Wednesday said it would be difficult to restrict fiscal deficit to targeted level of 4.6 per cent of GDP this fiscal, but all efforts be taken to narrow down the revenue expenditure gap. "It would be difficult to achieve the target of fiscal deficit of 4.6 per cent for the current financial year though we will make our best efforts to reach as...
09:35 PM, Jan 11, 2012
Kolkata: The recent deflation in food prices is expected to continue for the next few weeks, following which a scenario of low inflation in food prices will be witnessed from February, Chief Economic Advisor Kaushik Basu said on Saturday. "The deflation in food prices could continue for a couple of weeks and in February, we will see low inflation," Basu said on the sidelines of the Amlan Dutta Memorial Lecture...
09:59 PM, Jan 07, 2012
Bhubaneswar: India can achieve nine per cent growth in 12th five-year plan if scarcity in the key sectors of infrastructure and energy is addressed through big investment, Planning Commission Deputy Chairman Montek Singh Ahluwalia said on Friday. He said the economic downturn is expected to be over, and inflation brought under control, in about three months, and added, "Nine per cent economic growth target is very much achievable during the...
09:39 PM, Jan 06, 2012
Finance Minister Pranab Mukherjee said, "The present economic downturn will be temporary and will soon take an upward movement." ...
11:44 AM, Dec 14, 2011
