11 Updates

Industrial output in October grows by 8.2 percent

Dec 12 2012, 5:28am CST | by

New Delhi, Dec 12 (IANS) India's industrial production rose by 8.2 percent in October from a year earlier on a rebound in manufacturing, power and higher output of capital as well as consumer goods, indicating a recovery in the economy, government data showed Wednesday.

New Delhi, Dec 12 — India's industrial production rose by 8.2 percent in October from a year earlier on a rebound in manufacturing, power and higher output of capital as well as consumer goods,...

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Update
11

8 hours ago

Why Chidambaram doesn't yet deserve an upgrade

Source: Moneycontrol.com  |   May 21 2013, 4:57am CDT

The finance minister is miffed that the rating agencies are not fully convinced about his reforms. In fact, far from giving him an upgrade, they have not ruled out a downgrade if there are any slippages in promised reforms. Las ...

Continue reading on: Moneycontrol.com  More like this

 
Update
10

1 hour ago


Quote:
"In order to provide broad based incentive and encourage greater off-shore investment in debt market by FIIs and Qualified Foreign Investors (QFIs), it has been decided that the benefit of lower withholding tax [i.e. 5 per cent instead of 20 per cent] shall be available in respect to interest on investment made in bonds issued by Indian companies and Government securities"


Source: The Hindu

 
Update
8

8 hours ago

Chidambaram knocks on tax-payers door to know true income

Source: OneIndia  |   May 21 2013, 4:21am CDT

New Delhi, May 21: The government is monitoring your tax compliance and has identified over 12 lakh tax payers, who have not filed their return. The finance ministry headed by P Chidambaram, in a soft crackdown, is sending letters t ...

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Update
6

14 hours ago

Exclusive: Ahead of polls, Chidambaram to push for reforms in next 60 days

Source: India Today  |   May 20 2013, 10:51pm CDT

The United Progressive Alliance has had enough. Fed up with the Opposition holding up legislation, the government has decided to adopt a combination of ordinances and policy rollouts to push economic reforms through. And it's all going to happen in th ...

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Update
5

21 hours ago

India deserves an upgrade in sovereign rating: Chidambaram

Source: Indian Express  |   May 20 2013, 4:08pm CDT

Please read our terms of use before posting comments Finance minister P Chidambaram on Monday said that India deserved an upgrade in credit ratings and sovereign outlook in view of improvement in macro-econo ...

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Update
4

1 day ago

India deserves upgrade in sovereign rating: Chidambaram

Source: Rediff  |   May 20 2013, 10:16am CDT

India deserves a rating upgrade in view of improvement in macro-economic situation, the conservative outlook of Standard & Poor's notwithstanding, Finance Minister P Chidambaram [ Images ] said. "Our case is that we deserve an upgrade both on the outlook ...

Continue reading on: Rediff  More like this

 
Update
3

1 day ago

Govt can take more steps, if needed, to curb gold imports: P Chidambaram

Source: Indian Express  |   May 20 2013, 9:54am CDT

Please read our terms of use before posting comments Worried over widening current account deficit (CAD), the government today indicated that it could take more steps to check gold imports. "Some more steps, if necessary, would have to ...

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Update
2

1 day ago

Steps to curb gold imports if needed: P Chidambaram

Source: Moneycontrol.com  |   May 20 2013, 9:27am CDT

Gold imports will be curtailed if needed, says finance minister P Chidambaram, as it would affect the trade and current account deficits. Addressing a gathering at the annual day of Competition Commission of India ...

Continue reading on: Moneycontrol.com  More like this

 
Update
1

1 day ago

Chidambaram: more steps to cut gold imports if needed

Source: Reuters Mobile  |   May 20 2013, 8:46am CDT

Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage Britain's Finance Minister George Osborne (2nd L) and his Indian counterpart, Palaniappan Chidambaram (R ...

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22 weeks ago

Industrial output in October grows by 8.2 percent

Dec 12 2012, 5:28am CST | by

New Delhi, Dec 12 (IANS) India's industrial production rose by 8.2 percent in October from a year earlier on a rebound in manufacturing, power and higher output of capital as well as consumer goods, indicating a recovery in the economy, government data showed Wednesday.

New Delhi, Dec 12 — India's industrial production rose by 8.2 percent in October from a year earlier on a rebound in manufacturing, power and higher output of capital as well as consumer goods, indicating a recovery in the economy, government data showed Wednesday.

Industrial production had contracted by 5 per cent in the like period of the previous fiscal.

Finance Minister P Chidambaram said the data reflected emergence of "green shoots" in the economy.

"I am very encouraged by the indications of the green shoots in economy in terms of production. IIP figures are very encouraging," he told reporters.

According data released by the Central Statistical Office (CSO), the manufacturing output, which has a 75.5 percent weight in the index of industrial production (IIP), grew 9.6 percent from a year earlier when it had fallen 6.0 percent in October, 2011.

The sector did surprisingly well in spite of facing weak demand in both foreign and domestic markets.

Mining output declined by slower 0.1 percent as against a fall of 5.9 percent in October, 2011.

The electricity sector grew by 5.5 percent from an increase of 5.6 percent in the corresponding period of last year.

Growth was also witnessed in basic goods (4.1 percent), capital goods (7.5 percent), consumer durables (16.5 percent) and consumer non-durables (10.1 percent).

According to the CSO, telephone instruments, passenger cars, diesel, conductor, aluminium, sugar, petrol, rice and cotton cloths industries grew at a brisk pace.

Chidambaram said capital goods output at 7.5 per cent was very encouraging.

"Let's see what the next four months bring us. Investments are taking place, capacity is being created and consumption is happening in consumer durables and non-durables", he added.

IANS

 

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<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

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