With Indian statistics facing heavy criticism from all quarters in recent times, the Central Statistical Organisation (CSO), which is responsible for coordination of statistical activities in the country and evolving and maintaining statistical standards, will have to explore ways to reduce dependence on outsourced secondary data collection.
"We have suggested a fund for drought or flood, and when our production is hit. The fund will be with the states which the Centre will provide. The implementing agency will be the respective state governments," said K V Thomas, minister of state for agriculture and food.
The fiasco over error-ridden national accounts for the first quarter of the financial year has prompted Anant, who used to teach statistics at Delhi School of Economics, to initiate a documentation of processes. Besides, at the behest of the National Statistical Commission, he has ordered an audit of the methodology of preparing the index of industrial production (IIP).
The issue is expected to be raised by some other European nations during the G-20 meet to be held in Seoul in November, a senior official in the agriculture ministry said.
Such an inclusion is not only going to tarnish the image of Indian apparel exporters but can also harm the flow of orders from the US.
The Plan panel is against an NHAI proposal to increase the cost allocation of building each four-lane highway by 33 per cent.
The Union finance ministry has endorsed the views of Gajendra Haldea, infrastructure advisor to the deputy chairman of the Planning Commission, who had objected to recent changes in bidding norms by the National Highways Authority of India.
Firstsource raised $275 million (around Rs 1,265 crore) through foreign currency convertible bonds in 2007 to fund the acquisition of MedAssist.
The food security Bill is likely to adopt a three-pronged strategy to ensure food for all, particularly for the most vulnerable sections of the society. The National Advisory Council (NAC) in its initial discussions on the Bill had talked about a universalised scheme.
Many in the Planning Commission are not confident that making more capital available for the development of tribal areas affected by the Naxalite menace will effectively narrow down the trust deficit in these areas.
The creation and maintenance of a business register and directory are expected to be an economic data framework for various needed statistical surveys, including the Annual Survey of Industries and others of the National Sample Survey Organisation.
The six-month moratorium on deep-water drilling in the Gulf of Mexico is likely to delay the deployment of idle rigs by Aban Offshore and impact the day rates for support vessels that companies such as Great Offshore supply.
Rohit Chatterji, the new managing director and head of investment banking at J P Morgan, is cautious about the European crisis turning from a liquidity issue to a solvency crisis.
While the stock markets across the world have fallen on the back of the credit crisis in Greece and its contagion effect, shipping rates for dry bulk carriers have firmed up since the development.
The European economic crisis could be an opportunity for Indian corporate houses. Leading investment bankers say assets, globally, are available at attractive valuations and the rise in domestic stock prices has added more strength to balance sheets of Indian companies.
Most economists say the impact on inflation could be substantial, considering that steel prices rose by over 9 per cent in the past year.
Japan's leading information technology services and solutions provider, NTT Data Corporation, has emerged as the most aggressive suitor for Indian software services firm Patni Computer Systems. NTT is in advanced talks with the promoters of Patni Computer to buy their combined 46.5 per cent stake, investment banking sources said.
"ArcelorMittal has shown interest in the stake buy and the due diligence will start soon," said an official familiar with the development. The Facor stock closed at Rs 23.5 a share on the Bombay Stock Exchange today. At the current price, the company has a market capitalisation of Rs 435 crore. However, the deal is expected at Rs 35 a share, about 50 per cent premium to the current market price.
Rendezvous Sports World, part of the consortium that owns Kochi franchise of the Indian Premier League (IPL), may not be technically having the "sweat equity" that they claim to have.
Base metals have recorded a sharp rise in prices as global demand picks up. Rising alongside are the share prices of the leading metal companies in the country like Sterlite, National Aluminium Company and Hindustan Zinc.
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