Monsoon deficit narrows but just slightly
The rainfall in India seems to have improved a little with the monsoon shortage being at 28% below average for the week ended August 16 while as on August 12, the overall rainfall in the country was 29% below normal. However, rainfall during June 1 to August 16 was at 434.6 mm against the historical [...]
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 [...]
Economy expected to revive in second half: FM
The Finance Minister Pranab Mukherjee said that the revival of the economy was expected in the second half of the year on the back of the latest Index of Industrial Production numbers as well as return of foreign institutional investors to the markets over the last two months and the normal functioning of the credit [...]
Government mulling umbrella organisation to promote trade
In order to promote the Indian trade on the lines of UK Trade & Investment, the government is mulling an umbrella organisation. This move will streamline the multiplicity of trade promotion agencies and market development schemes that are currently in place. It is likely that the Union Commerce Ministry may announce the formation of this [...]
PM forms committee to expedite road projects
In order to expedite various road projects across the country, Prime Minister Manmohan Singh has constituted a committee to recommend ways to expedite them and also make them attractive for banks as well as private investors. This decision was taken at a meeting yesterday, which was chaired by Prime Minister to review the ambitious plan [...]
Government says RBI to continue easy money policy
In order to help the economic revival Indian government said that the Reserve bank of India would carry on with its easy money policy. Additionally, the RBI would keep the accommodative monetary position until the economy shows strong signs of improvement. Moreover, the Indian monetary authority would make certain a monetary and interest rate regime [...]