Economic Recovery
Govt speeds up disinvestment program
The government is fast-tracking its disinvestment program and hopes to change the way it uses the funds it gets and make sure that it can use the money to stop the biggest financial shortage in 16 years. However, after Oil India, NTPC is on the disinvestment radar and REC has also been cherry picked for [...]
Government approves infra projects worth Rs 910 crore
In a move to give a boost to the infrastructure sector in India, the government has approved port and mine projects worth Rs 910 crore. It is said that the cabinet committee on infrastructure cleared the development of four multi-purpose cargo berths at Kandla Port in Gujarat at a cost of Rs 756 crore. In [...]
Infosys cautious on recovery
Infosys is cautious on recovery even though the Indian IT brigade may be spirited about the revival of global economy. However, Infosys says that while the principal macro indicators are pointing toward a revival, business will recover with an interval whereas the clients are still not seeing a lift up in sales and profitability moreover, [...]
States can borrow more to combat slowdown
In order to fight the economic downturn, during the current fiscal the centre relaxed the fiscal consolidation targets of States further to allow them an additional combined borrowing of Rs. 21,000 crore. Additionally, in relation to the relaxation in Debt Consolidation and Relief Facility (DCRF) norms, even if the states fiscal deficit touches 4% of [...]
”Export sops to continue till recovery”:
The exports that shrank 31.3% in the first quarter of the current financial year over a year ago period, the government on Tuesday indicated that it will continue with the sops for Indian exporters. “If we continue with the polices in terms of assisting exporters… as long as we see those numbers climbing every month [...]
Experts observe early signs of recovery in exports
Exports fell for the nine-month in a row in June due to the global turmoil. However, there are early signs of recovery in overseas sales, which could register growth from September onwards, according to a finance ministry official. HAC Prasad, senior economic advisor in the finance ministry based his hypothesis on the sequential growth witnessed [...]