Sluggish industrial output may call for stern measures, says Pranab MukherjeeApr 12, 6:06 pm
New Delhi, Apr 12 (ANI): The Union Finance Minister Pranab Mukherjee on Thursday said the industrial output rose at a much slower-than expected 4.1 percent in February, weighed down by a contraction in consumer durables and consumer goods. Expressing disappointment over the slow growth rate, Mukherjee said: "The IIP (index for industrial production) figures for February 2012 have been released today. The over all growth is estimated at 4.1 percent over February 2011. IIP figures for January 2012 have also been corrected because of which the January 2012 growth has come down from 6.8 to 1.1 percent and that has also reflected the overall annual numbers. "This is disappointing. The revival in manufacturing in the last quarter of 2011-12 has not materialised as anticipated," said Mukherjee.Pointing at the uncertainties of the global economy Mukherjee further said that it has affected the investment recovery as well. "Though, growth in the capital goods for the month of February 2012 over February 2011shows an expansion of 10.6 percent, domestic industry recovery remains frail. The uncertainties from the global economy after the monitory tightening over the past the two years have impacted investment recovery," said Mukherjee.Mukherjee also said the slow growth rate will have an impact on the monetary policy and it would compel the Reserve Bank of India to take some stern measures."The domestic demand growth has also moderated considerably as it is revealed by the negative growth in consumer goods in February 2012. These figures will have the bearing on the monitory policy announcements scheduled for the next week. The government along with the RBI will take the required steps to revive the investment activity in the economy," he added. (ANI)
Phosphoric Acid price should be lowered to USD 600/MT: IFFCO May 29, 12:44 pm
New Delhi, May 29 (ANI-NewsVoir): Indian Farmers Fertiliser Cooperative(IFFCO), the world's largest fertiliser cooperative federation based in India has said that Phosphoric Acid price should be lowered to USD 600/MT or even less than that.Full Story »
Add more cheer to your IPL finale experience with Bajaj Finserv and a chance to win a 50" branded LED TV May 28, 4:09 pm
Pune, May 28 (ANI-Businesswire India): Bajaj Finserv, the undisputed leader in consumer durable finance, beckons the cricket lover in you to join them on twitter while you cheer for your favorite team in the IPL finale this Sunday.Full Story »
FundTonic to revolutionize Start-up funding works in India May 28, 3:11 pm
New Delhi, May 28 (ANI-NewsVoir): FundTonic, a fin-tech company that aims to revolutionize the entire start-up ecosystem has launched their first online platform today, which aims to reach 2000 investors and 5000 start ups by next year.Full Story »
Enhanced 'Air Traffic Service' at Delhi airport to ensure safety May 28, 3:02 pm
New Delhi, May 28 (ANI): A round the clock communication to ensure safety and accuracy at the ground and air. The world-class Air Traffic management, with better technology and coordination, at Delhi's Indira Gandhi airport makes it among the safest airports in the world.Full Story »
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