No hasty stimulus exit, says FM
Business Standard, 31 December 2009
Finance Minister Pranab Mukherjee today ruled out an immediate withdrawal of the stimulus packages, but cautioned that too much delay in the exit would widen the fiscal deficit. More…
Govt seeks public opinion on draft consumer policy
The Economic Times, 30 December 2009
The government has formulated a draft national consumer policy with an aim to ensure that goods, services and technology are available to the consumers at reasonable prices and good quality. More…
Economy | Economy to grow by 7.75%, says Rangarajan
Livemint.com, 29 December 2009
Indian economy will grow between 7-7.75% during the current financial year despite poor performance of the agriculture sector on account of drought and floods, said chief economic adviser C. Rangarajan. More…
India needs to step up farm production for 9% growth
The Economic Times, 30 December 2009
Even as India is set to grow at around 7-7.5% this fiscal, it is necessary for the country to step up its farm output over the next decade and maintain an overall growth of 9% per annum so that benefits trickle down to the common man, said chief economic advisor to prime minister C Rangarajan. More…
Irda may widen infra definition
Business Standard, 30 December 2009
The Insurance Regulatory Development Authority (Irda) is likely to broaden the definition of infrastructure to include more sectors. The move, being discussed with insurance companies, is aimed at enabling insurers to get access to more papers to invest in and diversify their portfolio. More…
Food prices fuel inflation pressures: RBI
The Financial Express, 29 December 2009
Rising food prices are fueling concerns of broader price pressures in India and the policy challenge is to address the supply-side constraints, a deputy governor at the Reserve Bank of India said on Monday. More…
India’s Economy May Grow Near 8% This Fiscal Year
Wall Street Journal, 24 December 2009
A strong rebound in industrial activity may help lift India’s economic growth to near 8% this fiscal year–despite a shrinking farm output–raising chances of accelerating the brisk pace over the next two-three years, the finance minister said Wednesday. More…
Divestment may bring in Rs 32,500 cr in 3 months
The Economic Times, 24 December 2009
The government could raise around Rs 32,500 crore in the next three months through its revived divestment programme, more than 55% of what it has collected from sale of its shares in public sector undertakings since 1991. More…
India to draw road map for low-carbon growth
The Hindu, 23 December 2009
Addressing a press conference here, he said the terms of reference of the group would be finalised in a couple of days. It would be asked to submit its report in three or four months. More…
ADB to provide two loans totalling $850 mn to India
The Economic Times, 22 December 2009
India has signed two loan agreements totalling $850 mn with the Asian Development Bank (ADB), the finance ministry said in a statement on Tuesday. More…
Excessive rise in food prices concerns Ahluwalia
Livemint.com, 22 December 2009
The sharp surge in Indian food prices reflects the impact of the drought and inefficient distribution, which could not be addressed by monetary policy, the deputy head of India’s Planning Commission said on Tuesday. More…
Inflation: food stocks on fire
Business Standard, 21 December 2009
Even as the government has yet to grapple with the problem of runaway food prices, investors in food stocks are laughing their way to the bank. The returns — 150-340 per cent since April 2009 — from most of these companies have outperformed the broader indices, indicating increased investor interest. More…
Infra trusts face FDI policy hurdle
The Financial Express, 21 December 2009
Indian private equity funds in the infrastructure sector are hobbled by an ‘unfriendly’ regulatory regime, with their big-ticket FDI proposals hitting a policy hurdle. The finance ministry has put on hold two proposals by India-registered infrastructure trusts to tie up a total of $2.5 billion in foreign direct investment (FDI), owing to the difficulty in defining the ownership of these trusts. More…
Consumers may have to pay more as freight rates set to go up
Livemint.com, 20 December 2009
Firms mull increasing rates by 8-10% from 1 January; manufacturers consider diverting cargo to road transport. Prices of some of the consumer goods that are moved by container trains may rise, adding pressure to rising inflation. Freight rates for container trains are set to go up from 1 January. More…
Resurgent India Inc pays more advance tax
The Economic Times, 15 December 2009
India Inc seems to have posted a healthy performance so far this financial year if advance tax payments for the third quarter of 2009-10 are any indication with several companies shelling out much more than they had in the corresponding period last year. More…
Inflation to cross 8% by March; policy actions soon: Economists
In.com, 15 December 2009
Inflation is likely to vault over 8 percent by the fiscal-end and the current trend might shove for policy actions as early as January, economists said. “If the current sequential uptrend is maintained, the Wholesale Price Index appears likely to cross 8 per cent year-over-year by March,” Citi economist Rohini Malkani said in a note on Monday. More…
CMIE revises GDP growth to 6.7 p.c. for this fiscal
The Hindu, 14 December 2009
The Centre for Monitoring Indian Economy (CMIE) has once again revised its GDP growth forecast for the current fiscal to 6.7 per cent from 6.2 per cent announced last month. More…
November WPI inflation at 4.78 pc y/y
The Economic Times, 14 December 2009
India’s wholesale price index rose 4.78 percent in November from a year earlier, higher than previous month’s annual rise of 1.34 India’s slow road to economic reform. More…
India not in the line of fire: Ramesh
Business Standard, 14 December 2009
Admitting that India and other emerging economies’ stand was considerably different from the 43 countries in the AOSIS, Environment Minister Jairam Ramesh said that India had no major differences with the United States. More…
India, China seen as major powers of 21st century’
The Hindu, 11 December 2009
India and China are being seen as major powers of the 21st century, and Prime Minister Manmohan Singh has conveyed to the Chinese leadership that differences should not be allowed to affect functional cooperation in other areas and peace and tranquillity needed to be maintained, External Affairs Minister S.M. Krishna said on Wednesday. More…
India to get more nuke reactors from Russia
Business Standard, 05 December 2009
India and Russia will take new steps to reinvent their strategic partnership when Prime Minister Manmohan Singh meets Russian President Dmitry Medvedev in the Kremlin on December 7, with a civil nuclear cooperation agreement and an extended defence cooperation pact, expected to be the highlight of the meeting. More…
Return to 9 % growth remains a big challenge: Mukherjee
The Hindu, 04 December 2009
Spurred by the better-than-expected growth of 7.9 per cent in the second quarter, Finance Minister Pranab Mukherjee on Friday expressed confidence that GDP (gross domestic product) expansion in the second half of this fiscal year would be ‘strong’ even as returning to the nine per cent trajectory would remain the ‘chief’ challenge. More…
World Bank to support large projects in India
The Hindu Business Line, 04 December 2009
The World Bank is impressed with the progress made on the reforms process front and sees growth rates returning to 8-9%. The World Bank Group plans to shift focus from individual projects to large consolidated projects to allow it to support India’s key priorities with substantial impact of overcoming poverty, its President, Mr Robert B Zoellick, has said. More…
Food inflation surges to 17.47%
Livemint.com, 04 December 2009
Food inflation surged to 17.47% in the third week of November, fuelled by expensive onions and other essentials, prompting experts to ask the Reserve Bank of India (RBI) to tighten its monetary stance. More…
After global meltdown, govt may turn heat on credit ratings
The Economic Times, 04 December 2009
Indian policymakers are debating doing away with the mandatory rating of financial instruments in the long-term, among a set of measures aimed at strengthening the regulatory and disclosures regime for credit ratings. More…
Jairam Ramesh: 20-25 % carbon emission intensity cut by 2020
The Hindu, 03 December 2009
India on Thursday announced 20-25 per cent carbon emission intensity cuts by 2020 on the 2005 levels. This would be done through a series of measures including mandatory fuel efficiency standards for all vehicles, a compulsory green building code and switching over to clean coal technology. More…
World Bank agrees on VGF scheme for roads
Business Standard, 03 December 2009
The World Bank has agreed to provide viability gap funding (VGF) and assistance in annuity-based build, operate and transfer (BOT) projects to develop highways in the country. More…
Govt.’s climate change stand tomorrow
Press Trust of India, 02 December 2009
Ahead of the global climate talks at Copenhagen, the Government will announce its position on the climate change on Thursday in the Lok Sabha to take the members of the House into confidence over the critical issue. More…
Exports decline by 6.6 pct in Oct
The Financial Express, 01 December 2009
Exports fell by 6.6 per cent for the 13th month in a row in October, though the decline was not as steep as witnessed in earlier months following the global financial crisis. More…
Inflation due to food items shortage: FM
Livemint.com, 01 December 2009
The current trend in inflation in India is a result of a shortage of food items and not due to a demand-push factor, Union finance minister Pranab Mukherjee told Parliament on Tuesday. More…
10% cap on divestment in PSU to stay for now
Business Standard, 02 December 2009
Finance Minister Pranab Mukherjee today made it clear that the government would not travel the path of unbridled disinvestment. The 10 per cent cap on offloading shares of profit-making public-sector undertakings (PSUs) would stay for the next four years, as Mukherjee said he preferred a cautious approach towards disinvestment. More…
India Inc wants stimulus to stay
The Economic Times, 01 December 2009
India’s economy in the July-September period grew at its fastest pace in 18 months as a surge in manufacturing helped offset sluggish farm output and stirred talk that the central bank may raise interest rates as early as in January. More…
Developing nations should not expect technology, finance assistance: Saran
Business Standard, 01 December 2009
The Prime Minister’s Special Envoy on Climate Change, Shyam Saran, today reiterated that the Copenhagen climate change summit beginning on December 7 would not involve a firm binding commitment on India to cut its carbon emissions. Speaking at an event here, jointly held by National Thermal Power Corporation and the Confederation of Indian Industry, he added that developing countries should also not expect any financial or technical assistance from developed nations to help reduce their carbon footprint. More…