Economic Recovery
Economy to get strong after two quarters: Planning Commission
The Planning Commission stated that India”s economy is becoming stable and will remain a favoured destination for foreign investors as normality returns to global markets. However, it said that there had been a raise in credit growth and foreign capital inflows were likely to increase in coming months. Additionally, earlier this month, the Planning Commission [...]
Economy recovering but modestly: Pranab
The Finance Minister Pranab Mukherjee conveyed assurance that economy will pick up during the second half of current fiscal while the overall growth will be moderate and the stimulus for revival of industry would not be an annual affair. However, in hope that industry would follow the growth trend of July, a month that saw [...]
IMF cautious about global economic recovery
The International Monetary Fund Managing Director, Dominique Strauss-Kahn stated that the recovery will be slow and that a jobless revival remains a risk since the global economy shows to be emerging from the worst financial and economic disaster in the post-war period. In addition, he said that the stimulus measures taken up by countries to [...]
Economy in way of revival: Ficci survey
The stage of confidence of India Inc is getting higher due to the fiscal stimulus measures that started exhibiting its effect on the economic activity. 80 per cent of the companies believe that the Indian economy is on the way of recovery and expect improvements in growth performance in the coming months. Federation of Indian [...]
Refining output down 14% in July
Due to repair work at some plants, including Reliance Industries” old refinery, Indian refiners processed 14.4% less crude in July than a year earlier while the annual crude processing at Reliance”s 660,000 bpd plant fell for the ninth successive month in July. However, output was down a record 38.2% from a year earlier as almost [...]
Infra growth slows to 1.8% in July
As petroleum refinery acted as a drag on the sector, the growth of 6 core infrastructure industries eased to 1.8% in July while a 14.4% reduction in petroleum refinery products tapered expansion of the 6 key industries in July, against 5.1% a year ago. However, the core sector, comprising of petroleum refinery, crude oil, coal, [...]