Technology can play an important role in almost every sector of the economy in enhancing productivity and production.
Gems & jewellery exports seen rising, too, as demand remains strong in all markets except Europe.
Gold prices had touched the all-time high of Rs 32,975 per ten gms on November 27, 2012.
Although the government had pegged fiscal deficit for the current financial year at 5.1 per cent of the GDP in the budget, it has revised the target to 5.3 per cent in view of subdued revenue collection and rising fuel and food subsidy bills.
Ignoring the rate cut demand of India Inc, RBI in its first quarter monetary policy review kept the short-term lending (repo) rate, at which banks borrow from RBI, unchanged at 8 per cent.
Although the government had pegged fiscal deficit for the current financial year at 5.1 per cent of the GDP in the budget, it has revised the target to 5.3 per cent in view of subdued revenue collection and rising fuel and food subsidy bills.
India's trade deficit has fallen to 10-month low of $14.9 billion in February on improving exports and a sharp drop in imports.
While eyeing inorganic growth, the company is considering setting up skilling centres in Africa, Bangladesh and Pakistan.
He said the government would not go in for providing stimulus across the board and that only specific sectors would be considered for the measure.
He feels that RBI could be waiting for a period or an opportune movement when there could be sustained reduction.
Are short-term compulsions increasing long-term instability?
Food Min says decision on Rangarajan panel's report in a time bound manner.
Believes India can grow at 6 - 7 per cent next fiscal.
The Reserve Bank of India has been actively doing OMOs or buyback of government bonds to manage liquidity in the system over the last few months.
The IIP growth has been revised downwards to 1.14 per cent for January, from the provisional estimates of 6.8 per cent, according to the official data released on Wednesday.
According to state government sources, not only did the governor insert some corrections, but he also initialled the final draft after those corrections had been made, reveals N Sathiya Moorthy.
On Tuesday, the partially convertible rupee, the worst performing currency among the major global economies, dropped as much as 3.1 percent to 68.12 per dollar.
He was speaking to reporters on the sidelines of a conference organised by the Madras School of Economics.
He says though agriculture and industry would get a fillip in the second half of this financial year, a complete economic revival is expected only in 2013-14.
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.
Prime Minister's Economic Advisory Council Chairman C Rangarajan on Tuesday called RBI's policy action a "wise decision". The liquidity easing measures will have an impact on interest rates, he said.
Fiscal correction is needed even after the changes that have been made now, otherwise the fiscal deficit would tend to be high.
The country's growth rate is expected to pick up in the second half of this fiscal and reach 6.7 per cent for entire 2012-13, Prime Minister's Economic Advisory Council Chairman C Rangarajan said on Monday.
The accounting system of the central and state governments may change considerably, with a high-level committee suggesting sweeping changes in how expenditure is classified in Budget documents.
Prime Minister Dr Manmohan Singh has convened a meeting of senior ministers on Tuesday to discuss the recommendations of the National Advisory Council on the Food Security Bill.
Bullion imports are expected to fall by about 29 per cent this fiscal to USD 44 billion, the Prime Minister Economic Advisory Council said in a report released on Friday.
C Rangarajan, former governor of Reserve Bank of India, was speaking on the topic `the growth path and some concernson the way' at a function at Federation of Gujarat Industries on Monday.
They want govt to raise excise duty and service tax rates, cut subsidies.
A first step in that direction has been taken by the prime minister by setting up an expert panel headed by his economic advisory council.
Prime Minister's Economic Advisory Council Chairman, C Rangarajan, on Wednesday echoed leading personalities saying the deteriorating quality of governance may come in the way of India achieving high growth on a durable basis.
Government's cheap food distribution covers 68 per cent of the population.
He says there are certain aspects, such as export growth, that are impressive.
Industrial growth has entered the negative zone in October, two years after the global financial crisis. But Prime Minister's Economic Advisory Council chairman C Rangarajan pins hopes of a revival in the fourth quarter.
Rangarajan also called for improvement in the country's corporate-bond market saying that this will help even small companies to raise adequate funds.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
PM's economic advisory council chairman C Rangarajan has asked microfinance institutions (MFIs) to overhaul their "flawed" business model for sustainability.
I think the overall growth rate of the economy will be between 5.5-6 per cent, says C Rangarajan.
Prime Minister's Economic Advisory Council Chairman C Rangarajan on Thursday pitched for a "substantial" increase in prices of diesel and cooking gas, saying failure to take strong steps would derail the fiscal consolidation process.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
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