New Delhi: Detailing economic growth during the UPA regime, Prime Minister Manmohan Singh said on Wednesday the slowdown in 2012 was "temporary" and a longer term view would show that India has notched up an average "8 per cent growth" in the past nine years.
The prime minister, presenting the ruling United Progressive Alliance-II's report card, said the economic situation was "turning around" and economic growth rate in 2013-14 could exceed 6 per cent. This, he sid, would set the stage to achieve the 12th Plan target of 8 per cent for the next five years.
He said the goal of 8 per cent growth "will be difficult, but it is not impossible. We have done it before, and if we receive a mandate in 2014, we will certainly achieve it again".
He said the slowdown of 2012 was largely due to the global phenomenon, including of the eurozone GDP declining....
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02:44 AM, May 23, 2013
The Indian economy is facing a temporary downturn, and average rates of economic growth above 8 per cent are possible in the medium term, Prime Minister Manmohan Singh told a gathering of the nation's top businessmen on Wednesday. ...
11:18 AM, Apr 03, 2013
Economic and commercial relations between India and France were affected by the economic slowdown but are again growing steadily and there is considerable untapped potential for further growth, said External Affairs Minister Salman Khurshid on Thursday. ...
02:56 AM, Jan 11, 2013
Bangalore: India's industrial output likely remained subdued in July, after falling steeply the previous month, as uncertainty in the global economy hurt exports, and the key infrastructure sector grew at its slowest pace in six months, a Reuters poll showed. The index of industrial production edged up 0.3 per cent year on year in July, according to a median forecast of 30 economists, after shrinking 1.8 per cent in June,...
08:36 AM, Sep 12, 2012
New Delhi: India's national security will be affected if steps are not taken to increase economic growth and encourage new investments in the country, Prime Minister Manmohan Singh said on Wednesday. In his Independence Day address, the Prime Minister said his government will work hard to shield Indian economy from the impact of global economic slowdown. However, this would require creating an environment which "we are not being able to...
08:16 AM, Aug 15, 2012
Washington: The global economy is in the worst shape since the dark days of 2009. Six of the 17 countries that use the euro currency are in recession. The US economy is struggling again. And the economic superstars of the developing world - China, India and Brazil - are in no position to come to the rescue. They're slowing, too. The lengthening shadow over the world's economy illustrates one of...
11:51 AM, Jul 23, 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: BJP on Friday alleged Prime Minister Manmohan Singh is "directly and openly" trying to put all the blame for the economic slowdown on former Finance Minister Pranab Mukherjee and charged that he was equally responsible for the state of affairs. "The Prime Minister was a full partner and complicit in all that P Chidambaram (FM in UPA-I government) and Pranab Mukherjee did. And therefore, it is not open...
03:21 AM, Jul 07, 2012
New Delhi: The BJP on Friday alleged Prime Minister Manmohan Singh is "directly and openly" trying to put all the blame for the economic slowdown on former Finance Minister Pranab Mukherjee and charged that he was equally responsible for the state of affairs. "The Prime Minister was a full partner and complicit in all that P Chidambaram (FM in UPA-I government) and Pranab Mukherjee did. And therefore, it is not...
08:00 PM, Jul 06, 2012
Amritsar: BJP-backed Presidential poll candidate PA Sangma on Sunday targeted Finance Minister and UPA nominee Pranab Mukherjee for the economic slowdown. "If the rupee is at an all time low, if the international rating for credit has been downgraded, (there is) so much of corruption, who is responsible...?" he asked. Sangma, who is supported by BJP, AIADMK and BJD, was talking to reporters during a visit to the Golden Temple....
03:00 AM, Jun 25, 2012
Infosys Ltd is delaying taking on board some of its planned 28,000 new recruits until mid-2013, underlining the slowdown faced by India's No 2 software services company, the Economic Times reported on Monday. Engineering graduates who were offered jobs from campus placements between August and September last year have started to receive joining dates from September this year to as late as after mid-2013, it said. "Based on business imperatives...
02:00 AM, Jun 19, 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
Economist Gurcharan Das commended Kaushik Basu, the PM's Economic Advisor, for openly suggesting that economic reforms were unlikely before 2014. ...
10:32 AM, Apr 20, 2012
Mumbai: The Reserve Bank has attributed decline in the economic growth rate to three-year low of 6.9 per cent in 2011-12 largely to deterioration in the external environment. "Recent data indicate that after a smart recovery during 2009-10 and 2010-11, real GDP growth slipped sharply to 6.9 per cent during 2011-12 largely on account of the deterioration in the external environment and the slowdown in domestic investment," Reserve Bank of...
03:33 AM, Mar 13, 2012
After a strong growth over the last two years, two-wheeler sales seem to have hit speed bumps. Inventories are piling up at dealers and analysts warn of subdued growth going ahead. "Although the year-on-year volume growth of the industry remained in double digits, the pace of growth during the third quarter was at its lowest gear in the last three years. The deceleration in growth was contributed mainly by the...
01:42 PM, Mar 09, 2012
New Delhi: High interest rates, coupled with adverse global situation, are impacting investment and economic growth, Finance Minister Pranab Mukherjee said on Tuesday. In a globalised world where major developed economies are going through a turbulent time, growth cannot be taken for granted, the Finance Minister said at the Assocham annual general meeting here. However, the slowdown should be a temporary phenomenon, he said. "This continuing global uncertainty is also...
12:24 AM, Feb 22, 2012
No one is switching off lights at 6 pm or slashing salaries and headcount by a quarter and cutting back on travel budgets. Actually, there are very few Indian firms exhibiting those typical knee-jerk reactions that one associates with tough times. Instead, when our team began interviewing CEOs of some of India's best run companies to gauge how they'd plan their strategy to tide over this year of uncertainty, we...
11:39 AM, Feb 04, 2012
CNBC TV18's Banking Editor Latha Venkatesh explains what this means for the economy. ...
10:40 PM, Jan 12, 2012
New Delhi: Downplaying recent irritants in bilateral ties, India Monday sought closer collaboration with China to combat the global economic slowdown and to work jointly on international issues ranging from terrorism to climate change to shape a new world order. "Uncertainty in the international system is at unprecedented levels. The economic and security situation facing both India and China has become far more complicated in the last few years," National...
08:07 AM, Jan 10, 2012
New Delhi: Amid concerns of slowdown in economy and shrinking industrial output, Prime Minister Manmohan Singh on Thursday met leading industrialists and assured them that the government was determined to get back on the growth path. The assurance came at a meeting of the Prime Minister's Council on Trade and Industry, attended by Ratan Tata, Mukesh Ambani, Sunil Mittal and Rahul Bajaj among others. "It was a very positive and...
08:11 PM, Dec 22, 2011
