The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
The finance minister has stayed true to her commitment to fiscal consolidation, even though the pace of the decline in the deficit could have been faster, notes A K Bhattacharya.
It is the season of cooking and baking, but with Amul Butter in short supply, consumers aren't like the cat that got the cream. A shortage only means market shelves without butter on them. "There is a supply-side deficit. "We are now able to procure only two packs of butter a day, as opposed to three packs (each containing 30 packets of butter) in a day," says a salesman at Modern Bazaar, a departmental store in New Delhi's Greater Kailash.
India's macroeconomic fundamentals are strong to deal with global challenges and the central government is committed to sticking to the fiscal deficit target of 6.4 per cent of the GDP for the current fiscal, official sources said on Monday. The government is taking steps to deal with the spiralling crude oil prices in the international market, the sources said. India meets nearly 85 per cent of its oil demand through imports and a weaker rupee makes imports costlier.
Ahluwalia's assessment of economic growth is marginally higher than 6.3 per cent projected by the Commission earlier.
The commission in its recent assessment of the economy also expects economic growth to go up to nine per cent in 2011-12, and further to 10 per cent in 2014-15.
With the ball difficult to grip, the pacers had a tough time but once the spinners started operating India started to peg things back a little.
RBI in its monetary policy forecasts the economy would grow at 6 per cent with an upward bias this fiscal, a rate that's in tandem with the Prime Minister's Economic Advisory Council Chairman C Rangarajan's projection of 6 to 6.5 per cent.
With elections elsewhere in India showing that multi-pronged contests usually work to the BJP's favour, the party can gain if it hangs on stubbornly. In the meantime, any additional support helps. That is why the archbishop's comment attracted political traction in Kerala, observes Shyam G Menon.
China has set a gross domestic product growth target of around eight per cent in 2005, much lower than the searing 9.5 per cent achieved last year, while striving to ensure sustainable economic growth, employment generation, curbing inflation and soc
The finance minister said the early signs of improvement in the Indian economy are seen despite no big recovery visible in the global economy.
The vote value of an MLA is calculated on the basis of the total population of the state, based on the 1971 census.
State Bank of India is likely to show a credit growth of about 19 per cent for the current fiscal ending March 2005 on the back of buoyant economy.
England pace bowler James Anderson took two wickets in 14 deliveries to reduce Australia to 348 for 4 at lunch on Day 3 of the first Test against England.
The impact of fiscal measures announced by the government to contain inflation will be seen in the next few months because of the base effect, reports Indivjal Dhasmana.
Buoyed by the upbeat performance of the manufacturing sector, including metals, Centre for Monitoring Indian
With prices of fuel, sugar and metal products likely to remain high, the Centre for Monitoring Indian Economy on Tuesday raised the inflation forecast for 2004-05 to 6.5 per cent from the earlier estimate of five per cent.
Images from the English Premier League matches on Saturday.
The race to replace Boris Johnson as the Conservative Party leader and the British prime minister entered the final countdown stage on Friday, when voting officially closes for Tory members to choose between former chancellor Rishi Sunak or Foreign Secretary Liz Truss.
The UN World Economic Situation and Prospects 2014 report said a mild recovery in investment as well as stronger export growth will help in the gradual GDP pick-up.
The central bank also asserted that the country is ready for the tapering of the US Federal Reserve's bond purchases.
The same rating agency, however said India's GDP growth rate would go below 7 per cent in the current fiscal from 8.5 per cent a year ago.
The Indian economy is likely to record a 7.4 per cent growth rate in the fourth quarter of fiscal 2009 as well as in the entire fiscal, a report by an economic think-tank on the economy, said.
'Passengers feel since they have paid for the ticket it means they are entitled to unlimited free drinks.' 'They don't differentiate between 'free' and 'complimentary' drinks.'
The agreement provides for reinstatement of 64 dismissed permanent workers by MSI, which will also take back 1,200 casual workers.
The agency had in May projected an economic growth between 7.7 and 8 per cent for this fiscal and Monday's revision comes within a week of rival Fitch Ratings, and Citigroup revising the same to 7.5 per cent from 7.7.
Rating agencies Crisil and Icra on Monday revised down their India growth projections for the current fiscal and the second quarter mainly due to the ripple effect of slowdown in global growth and mixed crop output. Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23. "We have revised down our forecast for real gross domestic product growth to 7 per cent for fiscal 2023 from 7.3 per cent, primarily because of the slowdown in global growth that has started to impact our exports and industrial activity.
Sitharaman also said states will get 41 per cent share of taxes as per the 15th Finance Commission recommendation and the government has accepted the recommendation.
Afsar Dayatar/Rediff.com brings us scenes from the Jug Jugg Jeeyo trailer launch.
Maharashtra's economic survey for 2002-03 says the state's economy was expected to grow at a lower rate of four per cent as against 6.8 per cent in the previous fiscal.
India's ace tennis star Sania Mirza and her American partner Christina Mchale lost to Japan's Shuko Aoyama and Ena Shibahara in the women's doubles event final of the Cleveland Championships.
I have no idea how that happened, lost for words, says Virat Kohli
In his Budget speech, Finance Minister Pranab Mukherjee had pegged economic growth for 2011-12 at 9 per cent.
Rationalisation of income tax slabs, infrastructure status for digital services and incentives to hydrogen storage as well as fuel cell development were some of the suggestions made by various stakeholders at the pre-Budget consultation meeting convened by Finance Minister Nirmala Sitharaman. The customary pre-Budget consultation meetings were held with the finance minister virtually between December 15 and December 22, as per the finance ministry statement. More than 120 invitees representing seven stakeholder groups participated in eight meetings, scheduled during this period, it said.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
ONGC has been making an annual loss of about Rs 700 crore (Rs 7 billion) on sale of gas at administered prices and hoped the government will soon decide on hiking the fuel price. the present price of Rs 3.2 per cubic meters that ONGC gets for gas produced from fields given to it on nomination basis, was not sustainable. Price of about 80% of gas produced by ONGC is regulated by the Govt. PetroMin had recommended 16% increase in price of gas produced by ONGC and Oil India.
Diogo Jota and Mohamed Salah were on target as Liverpool edged Premier League strugglers Nottingham Forest 3-2.
Although risks from advanced economies have eased and growth is firming, despite ongoing contraction in the Euro Area, the pick-up in developing countries will be modest because of capacity constraints in several middle income countries.
Ben Stokes claimed a wicket for England in the first session of the third cricket test at the Wanderers on Thursday, but South Africa dealt with the early swing from the bowlers and advanced to 73 for one at lunch. South African wicketkeeper Dane Vilas was forced to make a desperate dash to the ground, including a police escort from the airport, after being called up as a late replacement for the injured Quinton de Kock. Stiaan van Zyl was the only wicket to fall for South Africa as he top-edged an attempted pull straight up in the air and was caught by wicketkeeper Jonny Bairstow off Stokes' bowing for 21.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
