The Index of Industrial Production (IIP), which measures output in mining, manufacturing and electricity sectors, contracted 0.1 per cent in November 2012 as against 6 per cent growth in November 2011. In October 2012, the index grew 8.3 per cent on the back of increase in output during festive season. The man
Tag: economy
Post
Post
CII seeks a budget which supports growth
Industry bodies like Confederation of Indian Industries (CII) expect the government to announce a budget which would support economic growth and employment. They expect that the government does not frame a populist budget even though election is just a year away. Call for a reform-oriented budget is becoming louder as the
Post
Ore price rises on expectation of supply disruption
Since early December, the price of spot iron ore rose around 33 percent and it is said to be trading almost at a 15-month high because of expectation of supply disruption. Traders expect that iron ore export from Australia, leading ore exporter, may be affected by the upcoming cyclo
Post
Rangarajan favours non corporates for bank licenses
Agency reports suggest that C Rangarajan, Chairman of Prime Minister's Economic Advisory Council wants the Reserve Bank of India (RBI) to give first priority to non-corporate applicants for banking licenses. Rangarajan has reportedly said that the central bank must look at various types of financial institutions that
Post
Stiglitz cautions against bank license to corporates
At a time when Reserve Bank of India (RBI) is planning to give banking licenses for new players, some experts caution against allowing corporates to set up banking business. Highliting the risk of conflict of interests, Nobel laureate Joseph Stiglitz said corporates should not be allowed to enter banking
Post
Banking system must promote economic growth
Experts urge that Reserve Bank of India (RBI) must give banking license to new banks with the objective of facilitating economic growth and driving financial inclusion. They feel that having very few large banks should not be the intention of policy makers while giving licen
Post
Deal on US fiscal cliff raises oil prices
Crude oil futures in the international market rose marginally in recent trade because traders expected the US economy to avert recession after the US government arrived at a deal on fiscal cliff. Recently, the Senate and the House of Representatives approved a deal preventing a raft of aust
Post
Emerging mkt funds deploy huge amount in Indian mkt
Reports suggested that emerging market funds deployed a sizable amount of funds into Indian equity markets in 2012.These funds, that are a section of foreign institutional investors (FIIs), invest in markets such as India, China, South Korea and Taiwan, among others. On the other hand, India-focused funds witnessed sharp redemptions from their abroad clients during the year, quas
Post
Road construction sector on the path of recovery
Industry players feel that the road construction sector is on the path to recovery with the government announcing new norms for road development. It is learnt that the improvement in the project award and execution has caused a sudden surge in demand for construction machinery, building material machines, mining machines and construction
Post
Minister hopes to get revenue to control deficit
Speaking to reporters after a meeting of the Group of Ministers (GoM), Finance Minister P Chidambaram expressed hope of getting revenues from somewhere to control fiscal deficit within 5.3 percent of GDP. He remarked that there is still some time left in this financial year for carrying out disinvestment and auctioning of spectrum in the unbid