The Finance Minister Pranab Mukherjee on Friday said economic growth during the current fiscal could exceed 7.2 per cent projected by the Central Statistical Organisation (CSO).
Traditional categories in consumer durables are declining in their popularity, while higher-end products are catching up with middle-class consumers.
The Index of Industrial Production recorded an impressive growth of 11 per cent in February despite power sector registering dismal performance indicating unpleasant summers in the days ahead.
Indian economy has the resilience to sustain high growth despite shocks like spiralling oil prices, economic affairs secretary Rakesh Mohan said on Wednesday.
The employment grew at the rate of 2.78 per cent in 1998-2005, which is much higher than the 1.75 per cent recorded during 1990-98, the fifth Economic Census report said. The report, compiled by the Central Statistical Organisation, said that Jammu and Kashmir emerged as the state with maximum employment growth of 6.82 per cent followed by Andhra Pradesh (5.87 per cent), Kerala (5.86 per cent) and Haryana (5.35 per cent).
Banking and IT are the two sectors where you can make money by reverse trades. That is, buy one, sell the other and profit from the widening differential.
A day after the Central Statistical Organisation projecting a sluggish agricultural growth this fiscal, Finance Minister P Chidambaram said on Friday the government will take all steps to ensure a four per cent expansion in the farm sector for next 10-20 years. "First charge on our resources is for agriculture, so that it grows at 4 per cent or more for next 10-20 years" Chidambaram said at a National Bank for Agricultural and Rural Development function in New Delhi.
With the Central Statistical Organisation estimates putting India's economic growth rate at 8.7 per cent for the current financial year, spotlight has turned on GDP forecasts by various other agencies.
The monthly income of an average Indian for the first time in the country's history has crossed Rs 3,000, thanks to economic reforms and a high growth rate of above 9 per cent achieved for three years since 2005-06.The per capita income, a measure of average income of a citizen, went up 12.2 per cent to Rs 37,490 per annum during 2008-09, said the advance estimate for national income released by the Central Statistical Organisation (CSO) on Friday.
While the forecast was still lower than what we have been recording over the last few years, it instilled a false sense of comfort that India might still weather the storm better than many other countries.
Viewed from an angle, the average debt of every Indian has been estimated to soar to about Rs 30,000 in about a year with the government Competitive economies stepping up it borrowing programme in the next fiscal to fund public expenditure and stimulate the economy.
As per the first quarter figures on industrial production released by Central Statistical Organisation on Friday, the electricity sector registered a growth of 8.3 per cent as against 5.3 per cent a year ago.
Forecasters have been converging in the 7.5-8 per cent range when it comes to growth for the full year, and the first-quarter numbers are consistent with that. Yet, it seems the underlying trend is strong enough to limit the damage caused by the downturn, a factor critical to sustaining investment levels in the economy.
India's gross domestic product (GDP) growth during 2006-07 is estimated at 9.2 per cent as compared to 9 per cent during the previous year, advanced estimates of national income released by the Central Statistical Organisation say.
The average number of workers a business unit employs is declining for both urban and rural areas.
India's per capita income grew by 10.5 per cent to Rs 44,345 in 2009-10 against Rs 40,141 in the year-ago period, according to government data.
Chandigarh has highest per capita income of Rs 67,370 per annum, followed by Pondicherry (Rs 56,034) and Delhi (Rs 53,976).\n\n
Reserve Bank of India Governor, Y V Reddy presented the Monetary and Credit Policy for 2006-07 on Tuesday.
108 economists, social scientists said it was imperative that agencies like CSO and NSSO are not subject to political interference.
Electricity production registered growth of 6.8 per cent in June, the lowest in the past three months. Mining sector growth was 3.6 per cent.
The prime minister must get a consensus from his allies to set up a transparent process to channelise the billions of dollars into bettering India's infrastructure.
A surge in manufacturing pushed up the country's industrial growth to 12.9 per cent in March 2007, taking the expansion during 2006-07 to 11.3 per cent.
According to the latest estimates released by the Central Statistical Organisation (CSO), the total investment in agriculture has declined from 2.1 per cent in 2002-03 to 1.9 per cent during 2003-04 to 2005-06.
India's index of industrial production rose by 6.4 per cent in February over the same period a year earlier, the government said on Thursday.
Propelled by a strong growth in manufacturing, the industrial production grew by 6.4 per cent in January over the same period of the previous year.
Government will continue to pursue policies to ensure double-digit growth in the coming years while inflation is likely to remain below 5.0 per cent till March end
With all-round upturn in economic cycle except in agriculture, Economic think tank NCAER has forecast India's GDP growth rate at 6.5 to 6.7 per cent for this fiscal.
According to data released by the Central Statistical Organisation, India's per capita income has increased by over one-third from Rs 26,003 in 2005-06 to Rs 37,490 in 2008-09, Minister of State for Finance Namo Narain Meena told the Rajya Sabha in a written reply.
During April-June this fiscal, the Index of Industrial Production grew 10.1 per cent, as against 10.4 per cent in the year-ago period.
An impressive performance by the manufacturing sector catapulted industrial growth to 7.8 per cent during the first four months of the current financial year.
The real gross domestic product growth is likely to touch 9 per cent in 2003-04 based on better than expected performance of the agriculture sector, according to Centre for Monitoring Indian Economy.
The government on Tuesday projected a higher economic growth of 8.1 per cent for this fiscal from 7.5 per cent in 2004-05, far exceeding expectations of the finance ministry and Reserve Bank of India.
The economy grew by 8.1 per cent during the first quarter of this fiscal from 7.6 per cent in the same period of 2004-05, backed by a robust growth in industry and services sectors.
Powered by a 9.2 per cent growth in the manufacturing sector, India's economic growth stood at 6.9 per cent for 2004-05 fiscal compared to 8.5 per cent during the previous financial year.
India's industrial output rose 5.8 per cent in the year to March 2003 boosted by a robust manufacturing sector despite fears the country's worst drought in 15 years would hurt demand in Asia's third-largest economy.
Dismissing the CSO (Central Statistical Organisation) projection of 4.4 per cent GDP growth this fiscal, Planning Commission member N K Singh said the economy will grow by six per cent this year.\n\n\n\n
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