Decision on stimulus exit by year-end
The Economic Times, 31 October 2009
NEW DELHI: In the clearest sign yet that economy is picking up, the government on Friday said it may decide on ending fiscal stimulus after the October-December quarter and sought political consensus for passage of key legislations for reforms. More…
Health, education for rural poor as important as reform: PM
The Hindu, 30 October 2009
Reforming the insurance sector and labour market is all very well but the government’s economic priority is to increase investment in rural infrastructure, education and healthcare, Prime Minister Manmohan Singh said on Friday. More…
RBI tense over prices
Livemint.com, 29 October 2009
The International Monetary Fund’s (IMF) Regional Economic Outlook reiterates that the recovery will be sluggish, primarily because “G-7 (Group of Seven) consumption is consequently likely to remain weak for some time, limiting external demand for Asia’s products”. More…
Exports drop 14% in Sept, lowest in FY10
Business Standard, 30 October 2009
Exports declined by 13.8 per cent in September, but the fall was lowest in the current financial year, showing gradual signs of recovery in the country’s export sector. More…
India Inc gears up for revival with hiring plans, salary hikes
The Hindu, 29 October 2009
New Corporate India is getting ready with hiring plans and higher pay packets for 2010, as signs of economic recovery are becoming visible along with rising confidence in the economy’s growth. More…
Govt. okays REC stake divestment
Hindustan Times, 29 October 2009
Rural Electrification Corporation (REC) would be the next public sector company on the block, in the government’s disinvestment programme. The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the proposal for a 5 per cent divestment of government equity in REC. More…
Credit information bureaus trip on new FDI norms
Business Standard, 29 October 2009
The new Foreign Direct Investment (FDI) norms, which stipulate changes in the way foreign investment in a domestic company is calculated, have put a roadblock in the path of credit information bureaus, which are eager to rope in private sector banks as investors. More…
Consumer confidence highest in India; Indonesia, Norway follow
Livemint.com, 28 October 2009
Global consumer confidence is rebounding, and in the US has risen for the first time since 2007, amid signs that the world economy is picking up although spending is still restrained, a survey showed on Wednesday. More…
Infrastructure sector growth slips to 4% in September
Business Line, 28 October 2009
Growth in key infrastructure sectors slipped in September after a strong showing in August, which could contribute to a possible moderation in the industrial recovery story. More…
Private domestic demand to lead recovery in India, says IMF report
Yonhap News, 27 October 2009
The Reserve Bank of India has acknowledged the resurgence of the feel good factor in the Indian economy but has said that growth and inflation continue to be a concern. More…
Manmohan calls for saving Himalayan eco-system
Hindu, 26 October 2009
Prime Minister Manmohan Singh on Monday emphasised the need for greater engagement and coordination with all the country’s neighbours who share the Himalayas and pointed out that some bilateral initiatives are being taken up with China and Bhutan in this respect. More…
Food supply issue complicates monetary policy review
Business Line, 26 October 2009
Ahead of the Reserve Bank’s credit policy review on Tuesday, the Chief Economic Advisor, Mr Arvind Virmani, has said the impact of weak monsoon on food supply will make it a bit difficult for RBI to strike a balance between promoting growth an d controlling inflationary expectations. More…
India Inc upbeat on economic growth: CII survey
Business Line, 26 October 2009
India Inc is upbeat on the country’s economy as it projects growth in the range of 6-7 per cent this fiscal but slackening global demand remains a major concern for the community, a CII survey said. More…
FDI plug makes reins in Indian hands a must
Economic Times, 26 October 2009
The government has started insisting that the power to legally direct the actions of a company should at all times be in Indian hands if the investments it makes in other companies are not to be classified as foreign investment. More…
Inflation may touch 10% by March 2010: Assocham
Livemint.com, 25 October 2009
Inflation, which crossed the 1% mark for the week ended 10 October after seven months, is likely to surge to 10% by March end driven by surging food prices, low base effect and rising manufacturing costs, industry body Assocham said. More…
Policymakers face dilemma on exit timing
Livwmint.com, 16 October 2009
A year after the Reserve Bank of India (RBI) and Union finance ministry pulled out all stops to combat the fallout of the global financial crisis, policy planners are struggling with the dilemma of the sequencing of the exit strategy from the policy measures, especially with respect to a loose monetary policy. More…
India to verify China stand on dam
Business Standard, 16 October 2009
India said the Chinese government had assured it no dam on the Brahmaputra was proposed. India today said it was verifying claims made by the Chinese government that it was not building a dam that would divert the Brahmaputra and will cause hardship for those living downstream. More…
Inflation rate moves up
Business Line, 15 October, 2009
The annual Wholesale Price Index-based inflation rose by 0.92 per cent in the week ended October 3, higher than the previous week’s 0.7 per cent annual rise. Inflation was recorded at 11.49 per cent during the corresponding week of the previous year. More…
Renewable energy MoU with Scotland
Business Line, 14 October 2009
India and Scotland has signed a memorandum of understanding (MoU) to drive innovation in renewable energy and support both Governments’ goals to increase supplies of wind energy, solar power and biofuels. More…
India invites more US investments
Business Line, 14 October 2009
India has urged the US to deepen the bilateral economic engagement and accord a special thrust to investments on mutually agreed priority areas, specially infrastructure, energy, science and technology, space research and high technology collaboration and agro processing. More…
Inflation may rise to 6 pct by end-March: D&B
The Financial Express, 13 October 2009
Inflation may touch the 6 per cent mark by end-March 2010 led by surging food prices and decline in agricultural output because of poor rainfall, business information provider, Dun & Bradstreet, said. More…
India’s high net worth population dips 32%
Business Standard, 14 October 2009
India’s high net worth individual (HNI) population shrank by 31.6 per cent to 84,000 in 2008, mainly due to a drop in the pace of economic growth and erosion in market capitalisation, according to the Asia-Pacific Wealth Report released by Merrill Lynch Wealth Management and Capgemini. More…
Iran finds Indian rice safe for human consumption
Business Line, 13 October 2009
Controversy over tainted shipments ends. The latest finding is based on more advanced “third-level” tests of 67 samples selected from the 13 imported rice brands. In what would be a huge relief to basmati exporters and growers, the Iran’s Ministry of Health and Medical Education (MHME) has certified Indian rice as safe for human consumption. More…
India’s economy to grow around 7% in FY10: Virmani
Livemint.com,13 October 2009
New Delhi: India’s economy can expand 7% in 2009-10 and the central bank must weigh the trade-off between growth and inflation when it reviews policy settings later this month, a top government adviser said on Tuesday. More…
Industrial output cheers
Economic Times, 13 October 2009
The 10.4% growth in industrial production in August is the strongest proof yet that economic recovery is, indeed, robustly underway. The large variation in growth across sectors suggests that fiscal and monetary policy should continue to be expansive for some more time. More…
FM zeroes in on banks to boost credit offtake
Hindustan Times, 12 October 2009
Finance Minister Pranab Mukherjee, for the first time, will hold four separate meetings with the heads of the government-owned banks to focus more on each zone. The series of meetings will primarily focus on the impact of deficient monsoons on credit offtake and demand. That apart, issues like interest rates, inflation and consolidation of PSU banks are also expected to be taken up. More…
Increase in exports can be 10-14%, says Vijay Kelkar
Business Line, 12 October 2009
The report of the Task Force, appointed by the Finance Commission, would be published on the Commission’s Web site soon. It would enable better awareness and constructive policy dialogue, said Dr Vijay Kelkar, Chairman, Finance Commission, at the Executive Committee Meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI) here on Monday. More…