Slowdown

  • China government think tank cuts GDP forecast: Report April 30, 2014

    Shanghai: The Chinese Academy of Social Sciences (CASS), one of Beijing's top government think tanks, has revised its 2014 GDP growth forecast down to 7.4 per cent, below the official 7.5 per cent target, and says that growth could slow to as low as 7 per cent, state media reported...
  • Rangarajan says 5.2 per cent growth in Q4 achievable March 14, 2014

    The economy can grow an annual 5.2 percent in the quarter to end-March on higher farm output growth, the chairman of the Prime Minister's Economic Advisory Council said on Friday. C Rangarajan also said he expects the economic growth to pick up to 5.5-6 per cent in the fiscal year that...
  • Highlights of interim Budget 2014-2015 February 18, 2014

    New Delhi: In an election year, Finance Minister P Chidambaram presented an Interim Budget short of rhetoric and stuck to highlighting the Congress-led UPA Government's achievements of the last 10 years. Faced with a massive economic slowdown and staring at prospects of a Congress rout in the Lok Sabha elections,...
  • Slowdown makes students jittery, CAT applications at a 5-year low October 16, 2013

    New Delhi: The Common Admission Test (CAT) begins on Wednesday and will continue through the month. This year only 1.9 lakh students have registered to take the test, which is a 5-year low. Chakra Joshi, a Bsc Computer Science student, was preparing for the CAT - a ticket to the prestigious...
  • Delhi: Slowdown dampens the festive season for Ramlila organisers October 12, 2013

    New Delhi: The economic slowdown has dampened the festive spirit this time around, making it difficult for Ramlila organisers to secure funds to recreate the grandeur of mythological character Ram's life. With the economy looking grim, many donors are reluctant to shell out money. So organisers are renting cheaper lighting and...
  • Industrial output grows 0.6 per cent in August October 11, 2013

    New Delhi: India's industrial production for the month of August grew by 0.6 per cent in August, dropping from an upwardly revised 2.75 per cent pace in July. Analysts had expected an annual output growth of 2.0 per cent for the month. The manufacturing sector, which constitutes about 76 per cent...
  • West Bengal: Slowdown forces budget cuts in Durga Puja this year October 9, 2013

    Kolkata: Even as the country prepares and looks forward to the festive season, there is a slight dampener this time around. The economic slowdown seems to be having an impact on the Durga Puja celebrations. The Puja organisers of Kolkata are struggling to stay afloat despite drastic cuts in budgets....
  • Obama cancels his Asia trip due to shutdown October 4, 2013

    Washington: US President Barack Obama has cancelled a trip to Asia this weekend because of the ongoing government shutdown, it was announced on Friday. Obama had already shortened the trip from four countries to two after the US government partially shut down as the two houses of Congress failed to agree...
  • PM has no ideas to counter economic slowdown, says Jaitley September 1, 2013

    Continuing his attack on the government for its failure to arrest the rupee's slide and the economic slowdown, BJP leader Arun Jaitley on Saturday said Prime Minister Manmohan Singh was without ideas to revive the economy and such a situation did not bode well for the country. Picking up from his...
  • PM reassures economic slowdown will not last long August 15, 2013

    The slowdown in Indian economy will not last long as government is working hard to remedy the situation, Prime Minister Manmohan Singh said on Thursday as he saw positive impact of the move to open up several sectors to foreign direct investment in the coming months. "I believe that this phase...
  • PM to meet industry leaders to discuss economic problems July 29, 2013

    New Delhi: Prime Minister Manmohan Singh will meet industry leaders on Monday to hold a discussion on key problems plaguing the Indian economy. Problems relating to slow growth rate of the economy, the depreciation of the rupee and the nation's Current Account Deficit are on the agenda. The meeting comes against...
  • China's test; controlled slowdown or unemployment nightmare July 19, 2013

    Beijing: The success or failure of China's efforts to revamp its giant economy may rest with workers like Hu Zhao and Deng Jindong. They were both at a job fair in Beijing this week. Hu, a 30-year-old former factory worker, was looking for a higher paid office job. Deng, a...
  • Greece approves scheme to fire thousands of public workers July 18, 2013

    Athens: Greece's shaky coalition government scraped through a vote on Wednesday on a bill to sack public sector workers as thousands chanting anti-austerity slogans protested outside parliament. The vote was the first major test for Prime Minister Antonis Samaras's two-party coalition since losing an ally over the abrupt shutdown of the...
  • Cong, BJP war of words intensify over Modi's remark July 15, 2013

    The Modi vs Congress war of words has intensified with the Congress on Monday accusing Modi of polarising the electorate and also listing statistics to counter the Gujarat Chief Minister's claims of development. The BJP, meanwhile, claims this is a deliberate attempt by the Congress to shift goalposts ahead of...
  • May industrial production contracts by 1.6 per cent July 12, 2013

    New Delhi: India's industrial production unexpectedly contracted 1.6 per cent in May from a year earlier, government data showed on Friday. Analysts polled by Reuters had expected output to grow 1.6 per cent annually. April's output growth was revised down to an annual 1.9 per cent from 2.3 per cent earlier. Manufacturing...
  • Nine years of UPA saw average 8 per cent growth: PM May 23, 2013

    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...
  • Growth slump 'a temporary downturn', says Manmohan Singh April 3, 2013

    New Delhi: 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. India's economy, hit by the global slowdown and stubbornly high inflation,...
  • 'Considerable potential for further growth in India-France ties' January 11, 2013

    New Delhi: 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. "Though affected by global economic slowdown, economic and commercial relations between our two...
  • July industrial output figures to be out today September 12, 2012

    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...
  • Lack of political consensus hampering growth: PM August 15, 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...
  • Global economy in worst shape since 2009 July 23, 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...
  • China Q2 GDP growth 7.6 pc, slowest in 3 years July 13, 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...
  • PM 'blaming' Pranab for economic slowdown: BJP July 7, 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...
  • PM 'directly blaming' Pranab for slowdown: BJP July 6, 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...
  • Sangma targets Pranab for economic slowdown June 25, 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...
  • Infosys delays start-dates for new hires: Report June 19, 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...
  • Economy resilient to withstand pressures: Kalam May 25, 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...
  • 'Pushback on economic reforms coming from within the Congress' April 20, 2012

    Economist Gurcharan Das commended Kaushik Basu, the PM's Economic Advisor, for openly suggesting that economic reforms were unlikely before 2014. ...
  • RBI attributes economic slowdown to external factors March 13, 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...
  • Budget 2012: Slowdown bug catching two-wheelers too? March 9, 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...