Backing the government over action against the NGOs found to be prima facie involved in diversion of foreign funds, Congress on Thursday suggested that the ambit of investigations should be widened to cover all organizations which are trying to stop India's growth trajectory.
The rupee was Asia's worst performing currency this year, and the outlook for 2012 also remains bleak.
In the Budget 2012-13, the government had pegged 2012-13 gross domestic product growth at 7.6 per cent (plus, minus 0.25 per cent).
'If the Modi government is successful in extraditing a high-profile fugitive such as Vijay Mallya or Nirav Modi before the 2019 election, the government will be able to link demonetisation to this and turn it into a positive.'
According to the Organisation for Economic Cooperation and Development's latest Economic Outlook, India's growth rate is likely to slow to 7.1 per cent in 2012 from 7.3 per cent in 2011, but would inch up to 7.7 per cent in 2013.
Document to talk about social unrest, energy shortages, global factors.
The ongoing corporate results and the Union budget are also making participants tread cautiously though the GST agreement provided some relief.
Growth, said HSBC, would be helped by higher public investment, bankruptcy code and direct transfer of subsidies
This and many more issues related to India's growth will be deliberated at the 22nd edition of the India Economic Summit, to be held here from November 26 to November 28
And income tax exemption to be increased to Rs 3lakhs.
He said that his govt is moving on the correct path and the people have put their seal of approval on it.
The probability of a global recession is low, even though the United States is growing slowly and Europe is experiencing negative growth, Reserve Bank of India Governor D Subbarao said on Friday.
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
'Equities are not cheap; I need to buy at levels I am not comfortable with; I need to 'create' a rationale about some stocks we are buying into; we have no clue about the prospective earnings of sectors or companies; most of our 'buy' reports are based on a nebulous understanding of the future; on most occasions the profits we project do not materialise.'
In this series, we feature some of the top businessmen across different states in India. Featured here are the top entrepreneurs (in no particular order) from Maharashtra.
In 2013, China took over as India's largest trading partner.
Proposed scheme will not provide immunity to tax defaulters.
Government-industry relations seem to be hitting a new low. But without co-operation, a recovery in 2012-13 will be impossible, says former chief mentor of CII, Tarun Das.
'What is forgotten but is actually as important for a society's long run success is morality.' 'Morals and trust are the nuts and bolts of an economy.' 'Without those you can get short run success, but not long-run development.'
Modi hit out at the UPA government for allegedly 'blocking' surgical strikes post 26/11 Mumbai attacks in 2008.
India ranks 130th out of 189 economies on the World Bank's Doing Business report.
The rupee on Tuesday lost another 15 paise against the US dollar to close at 65.88
About 15 per cent of the country's total GDP comes from agriculture.
Consequently, the reverse repo rate under the LAF will remain unchanged at 7.5 per cent and the marginal standing facility (MSF) rate at 9.5 per cent.
Finance Minister Pranab Mukherjee today said the global slowdown will impact India's growth prospects, but expressed hope that inflation will start moderating from December.
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
'The fiscal deficit target of 3.9 per cent of GDP seems achievable.'
There are reasons to doubt Gadkari's words.
Markets were also weighed down by losses in index heavyweights Reliance Industries and Infosys.
Indian economy is witnessing stable growth momentum, says OECD.
On the back of ongoing reforms and stress on manufacturing, India. he said, can look for much bigger share in global exports.
Rajan also said weak results from India's corporate suggested final demand is yet to pick up strongly.
Finance minister said India had taken several measures to make markets attractive.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
Fresh demand for the US currency from importers and banks alongside sustained capital outflows by foreign funds weighed on the local unit
'We expect growth to increase in 2017, after this brief period associated with the change in notes.'
From a longer term perspective an improvement in economic environment is necessary for a rise in inbound deals.
While the Reserve Bank and the Economic Survey of the finance ministry have projected India to grow at 6.9 per cent and 6.5 per cent in current fiscal, the International Monetary Fund estimates it to be 6.6 per cent.
He says he does not share IMF's pessimism.
The multilateral lending agency said India's growth would ease to 8.2 per cent this financial year (2011-12) against 8.5 per cent a year ago, as high inflation had cut into disposable income and hence demand.
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