Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday pegged India's growth this financial year at 6.5-7 per cent. He added the country had taken various steps to boost investment, the results of which would be seen in six months.
Prime Minister Manmohan Singh on Saturday asked European countries to take firm steps to fix the continent's financial mess, which was hitting India's economic growth and dampening global markets.
However, Bengaluru is on a high with the share of IT/ITeS in the total office space transaction rising from 55 per cent in 2011 to 75 per cent till May 2012, according to data by DTZ, an international real estate research firm.
Corporations and business associations must strengthen their direct communications and consultations with citizens - and earn the trust of society.
Mumbai land sale part of non-core divestment this year, counters DLF
Venturing into films, music & food biz, cite reasons from personal interest to future market opportunity
This is despite a Federation of Indian Chambers of Commerce and Industry survey showing more players were optimistic on a recovery in manufacturing in the last quarter of 2011-12.
Developers say an increase in the FSI was long due, given the scarcity of land, but stress the need for stronger infrastructure to support such high-rise buildings.
Like the previous two plans, the 12th five-year Plan (2012-17) also officially began without a final document in place.
Key Planning Commission official says push from small-scale industries will help reach the figure, but others disagree.
While there is pressure on the Reserve Bank of India to cut policy rates to spur stagnating industrial growth rates, Pronab Sen, principal advisor to the Planning Commission, says the central bank should exercise caution till it is sure inflationary expectations are under control.
Advance estimates on Tuesday estimated nominal GDP this financial year to be slightly less than that projected in the Budget, and this would magnify fiscal deficit as a portion of GDP.
In an interview with Business Standard, he says investments would pick up and inflation would fall in the next financial year, providing the Reserve Bank of India the room to cut rates.
Officials do not believe economic growth would go down as low as 6.8 per cent.
Smaller real estate entities have been active in the past six to eight months in launching big-ticket residential projects. Factors like the high debt of realty companies listed on the exchanges and small builders not having the capacity to hold on to a licence for too long have influenced launches.
The question is which tool it should use to shift gear.
Month-on-month stats show industrial output shrank 4 times till Oct in 2011-12.
With not much hope on robust tax collections and disinvestment, economists peg the gap between the government's expenditure and receipts to be between six and seven per cent for this financial year.
It's not just the high street across India that will feel the pinch of the weakening rupee against the dollar.
Economists and industry chambers are divided whether the Indian economy is headed towards the same slow growth as was the case during the time of global financial crisis.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances