Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
'We should look at is full year's growth rather than quarter numbers.'
India's industrial output unexpectedly rose 1.2 per cent in May from a year earlier, led by a pick up in manufacturing, government data showed on Tuesday.
'The government should act proactively to instil confidence in the private investors, and also boost the purchasing power of people directly or indirectly by ensuring minimum wages.'
The output, as measured by the Index of Industrial Production, had contracted by 2.5 per cent in the same month of last year.
The positive numbers raises hopes of recovery.
The National Council of Applied Economic Research (NCAER) on Thursday lowered the GDP projection for the current fiscal to 4.7-4.9 per cent due to exchange rate depreciation.
IIP down due to poor show by manufacturing, mining and power sectors
'India remains a bright spot amid the global slowdown.'
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
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The marginal improvement in the index of industrial production was mainly on account of higher power generation and mining sector output, while manufacturing declined.
Unlike the Advance Estimates which missed the impact of demonetisation, CEA's survey is likely to have a better take on Indian economy.
The manufacturing sector, a key indicator of economic activity, grew 10.6 per cent year-on-year in October.
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
Reserve Bank of India Deputy Governor Viral V Acharya further said that the impact of the notes ban would only be temporary and would help in bringing informal sector into the mainstream economy.
the GDP estimates incorporate new source data and modified compilation techniques
The April-June quarter GDP slipped to 7 per cent from 7.5 per cent.
In fact, India's investment activity growth is also estimated to touch a 17-year low in FY20. With overall demand not showing signs of revival, investment activity may take longer to recover, economists said.
India's economic growth slowed to 7 per cent in the three months through June from 7.5 per cent in the previous quarter
The Supreme Court on Wednesday refused to entertain a plea by 14 political parties led by the Congress alleging arbitrary use of central probe agencies against opposition leaders, asserting that laying down guidelines without facts of a criminal case will be "dangerous".
Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.
Manjummel Boys is a largely conventional, commercial movie. But given the rather curvy observations that do stay intact in the film, Rohit Sathish is tempted to think what an even braver, more ambitious film would have done.
This kind of growth will turn India into a $8 trillion economy.
This is the fourth such recruitment drive proposed to be undertaken by the Narendra Modi government which had in 2018 initiated lateral entry.
In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. Inflation has been above the targeted zone for the ninth month in a row and as per statute, the RBI will now have to explain to the government in writing why it failed to keep prices below 6 per cent.
It came on the back of tepid dispatches in the March quarter as consumer sentiment took a knocking, owing to uncertainty ahead of the general election.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
A day after masked goons entered Jawaharlal Nehru University and ran riot, injuring over 36 people with sticks, lathis and hammers, noted economist and professor C P Chandrasekhar resigned from a Narendra Modi government-appointed committee on statistics. The committee was set to hold its first meeting to review India's economic data. In his resignation letter, Professor Chandrasekhar wrote, "I regret to inform you that because of the situation in JNU where I stay, I will be unable to attend tomorrow's meeting." He was also quoted as saying, "The JNU's incident on Sunday has further undermined the faith in the system. It shows that we are now living in a different world and it's hard to work with a government in which you have lost faith."
The most serious recommendations to change the financial year came in the years preceded by deficient rainfall. The Jha committee was formed after droughts in 1979-80 and 1982-83, reports Rishika Pardikar/IndiaSpend.
On one hand, Operation Greens should help to smoothen volatility in the prices of vegetables, whereas the proposal to enhance and extend minimum support prices to augment farmer incomes, may emerge as an inflation risk.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
In December, govt had lowered its growth forecast for 2015-16 to 7-7.5%
This is mainly due to GST impact on manufacturing and subdued farm output.
The prime minister was speaking at an industry meet organised at ONGC Petro Additions Ltd's complex in Gujarat's Dahej.
As against an annual average growth of 10-11 per cent envisaged for the industry during the period, the actual annual average growth stood at 7.2 per cent during the plan period.
TCS, Wipro and Infosys dropped by up to 4.47 per cent, dragging down the BSE IT index by 2.96 per cent
The Survey lists some of the challenges that might impede India's progress.
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
Anand Rayate, senior IAS officer and state coordinator for the Talathi Recruitment Exam-2023, said the statewide test conducted with the help of IT major TCS started at 11 am, instead of 9 am scheduled originally, after the fault was rectified.
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