Archive for the ‘Economy’ Category
Tuesday, June 10th, 2008 |
Sustained growth in net profits and gradual increase in productivity and capital efficiency have enabled Indian Corporate Sector to cut costs and be globally competitive. This will drive future economic growth of India, said Confederation of Indian Industry (CII) in a Press Release issued here today. This is inspite a failed Finance Minister and a lame duck government.
The release was quoting an analysis of last 8 quarters of corporate sector results. The study conducted by CII revealed that corporate sector performance has contributed immensely to Indian’s macro economic fundamentals. The CII study is based on available quarterly corporate results pertaining to manufacturing, services other than financial services and financial services sectors.
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Friday, June 6th, 2008 |
Direct tax collections at Rs.3,14,468 crore surpassed indirect taxes for the first time by about Rs.34,000 crore in the fiscal 2007-08. Higher direct tax collections have helped the government reduce fiscal deficit, meet the FRBM targets, and increase public investment in the social sectors. In view of the responsibility of being the primary contributor to the exchequer of the Government of India, the Income Tax department will discuss various issues relating to further improving direct tax administration during the Annual conference of Chief Commissioners and Directors General of Income Tax to be held on 9th and 10th June 2008.
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Friday, May 23rd, 2008 |
While inflation would fall to acceptable levels by September and manufacturing grow at double digit rate since in 2nd year of 11th five year plan, infrastructure sector would receive Rs.4,20,000 crore of investment as a result of which infrastructure GDP spending ratio would go up to 9% in 11th plan from 5% in 10th plan, says Deputy Chairman, Planning Commission, Dr. Montek Singh Ahluwalia.
Delivering a keynote address at ASSOCHAM organized Interactive Session with India Inc and its Vision 2020’, Dr. Ahluwalia also announced that the slowdown being witnessed by Indian Inc. would certainly end by end of current calendar year as economic uncertainties of 2008 would have resolve themselves by then.
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Friday, May 23rd, 2008 |
A successful conclusion of the Bilateral Investment Treaty (BIT) between India and the US will deepen the strategic partnership and would further enhance B2B (Business To Business) and G2G (Government to Government) contact between the two sides according to Mr. Daniel Sullivan, Assistant Secretary of State, Department’s Bureau of Economic, Energy, and Business Affairs (United States). Speaking at the Roundtable conference on “India - US Cooperation in Energy & Investment” organised by the Confederation of Indian Industry (CII).
The first Round of negotiations held in February 2008 reflected a strong desire between the two sides to conclude the treaty, mentioned Mr Sullivan. He further added that concluding BIT is important priority of the present Administration of the United States.
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Thursday, May 15th, 2008 |
India and China were laid out comparatively on a platter for economists, investors and entrepreneurs at a session organized by CII and Aspen Institute India to launch Tarun Khanna’s runaway hit ‘Billions of Entrepreneurs - How China and India are reshaping their future and yours’. The launch witnessed an august gathering of some of the most well read minds in the country - Dr. Montek Singh Ahluwalia - Deputy Chairman, Planning Commission, Dr. Surjit Bhalla, Chairman & Managing Director, Oxus Research and Investments; Mr. Tarun Khanna, Jorge Paulo Lemann Professor, Harvard Business School professor and Author, Mr. Tarun Das - Chief Mentor CII, Mr. Chandrajit Banerjee - Director General, CII.
The panel discussion brought out important facets of the Indian and the Chinese economy highlighting the pros and cons of both; though a general agreement that India is fast catching up with China and will soon outperform the latter’s growth by 2010, was undisputable.
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Saturday, April 26th, 2008 |
The Indian retail market will grow to $637 billion by 2015 and modern retail, which presently accounts for 4 per cent of the total market, is likely to increase its share to 22 per cent by 2010, said Dr Ashwani Kumar, Minister of State for Industry, Government of India, at Retail Symposium 2008 on “Making Delhi a Global Retail Destination”, organized by Confederation of Indian Industry, on Friday in New Delhi.
“Delhi is India’s largest consumer market with the highest concentration of households with an annual income of $110,000 and per capita income more than double the national average. Delhi is a destination for shopping across India besides its own consumption appetite. It is the principal business and commercial centre in northern India, well complemented by industrial areas in the National Capital Region,” Mr Kumar said.
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Sunday, April 20th, 2008 |
In view of global turbulence and shaking of investor’s confidence in the Indian market, the ASSOCHAM has advocated for a forward looking monetary policy that can absorb and withstand implications of global slowdown.
In a note submitted to the RBI Governor, the Chamber President, Mr. Venugopal N. Dhoot has proposed that the RBI should increase surveillance of entire financial system so that a crisis situation does not arise.
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