Indian Economy: News and Discussion

cobra commando

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BANGALORE: Indian factory activity expanded at its fastest pace in nearly two years in November as burgeoning order books led manufacturers to accelerate output, a business survey showed on Monday. The HSBC Manufacturing Purchasing Managers' Index (PMI) , compiled by Markit, rose to 53.3 in November from 51.6 in October, its highest since February 2013, and the thirteenth consecutive month of expansion in activity. A Reuters poll had expected manufacturing activity to lose some steam and predicted the index would fall to 51.2. New orders were supported by strong domestic demand for consumer goods while foreign orders remained robust. The sub- index soared to a 21-month high of 56.2 from October's 53.0. The expansion in output encouraged manufacturers to add more jobs. The survey also showed companies passed on additional input costs to consumers at a faster pace, which could revive inflationary pressures after several months of slowing. "The pick-up in output prices could partly be signaling some revival in pricing power among businesses," said Pranjul Bhandari, chief India economist at HSBC. Economic growth slowed to 5.3 percent in the three months to September, from 5.7 percent in the previous quarter, but the Reserve Bank of India is expected to stand pat on interest rates when it meets on Tuesday despite pressure from the government to lower borrowing costs. The RBI's key lending rate is expected to remain unchanged at 8.0 percent until at least April.
Factory growth in November fastest in nearly two years - The Times of India
 

ezsasa

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I am noticing a sudden upsurge in articles and opinion pieces advising modi and Jaitley on various policy matters pertaining to Finance and economy. Particularly more so after the closed door meeting at CII and Rajan's lecture yesterday.

All these articles seems to me like wishlist of various interest groups across sectors. Is it a campaign, we will have to wait and see !!!
 

NSG_Blackcats

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Modi govt may offer surplus PSU land for new infra projects to sidestep lengthy land acquisition process

The government is eyeing nearly 18 lakh acres of land — or nearly five times the area of Delhi — available with various state-run companies, to quickly get manufacturing and infrastructure projects off the ground.

"The idea is that since land acquisition is a very long-drawn process, we can identify the land available and then match it with the requirements of a new project," said a senior official of the ministry of heavy industries and public enterprises.

The government has already identified around 12 state run companies that are no longer operational but have surplus land that can be used.
 

NSG_Blackcats

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How is this going to help ???

I mean are they exchange land ?????
I guess land owned by PSU can be acquired by private companies on market rate. This is a lot easier than acquiring land from farmers.

There are many PSUs which are holding land but is no longer operational. So it might help is setting up manufacturing industry.
 

NSG_Blackcats

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Government splits Chairman & MD post, names chiefs for 4 PSU banks

In a departure from the past, the government today split the post of Chairman and Managing Director for PSU banks and named MD-and-CEOs of four banks including United and Oriental Bank of Commerce.

For the first time, PSU banks will have a non-Executive Chairman, giving operational responsibility to Managing Director and Chief Executive Officer (CEO).

"The procedure for selection of part-time Chairman would be announced shortly," said a Finance Ministry statement.
 

NSG_Blackcats

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November infrastructure output hits 5-month high of 6.7 per cent

The growth rate of eight core sector industries rose to five-month high of 6.7 per cent in November on the back of better output in coal, refinery products, electricity and cement.

Coal, refinery products, electricity and cement production registered a growth of 14.5 per cent, 8.1 per cent, 10.2 per cent and 11.3 per cent, respectively in November, as per the data released by the Commerce and Industry Ministry.

Steel output during the month under review declined to 1.3 per cent from 10.1 per cent in the same month last year.

However, crude oil, natural gas and fertiliser were in the negative zone.

During April-November, the eight sectors grew by 4.6 per cent as against 4.1 per cent in the same period last year.
 

anoop_mig25

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I guess land owned by PSU can be acquired by private companies on market rate. This is a lot easier than acquiring land from farmers.

There are many PSUs which are holding land but is no longer operational. So it might help is setting up manufacturing industry.
Well still oppostion jhollachaps would cry that gov of the day sold land at cheap price and there is a scam

well can u provide eg of such psus
 

NSG_Blackcats

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Well still oppostion jhollachaps would cry that gov of the day sold land at cheap price and there is a scam

well can u provide eg of such psus
The land can be acquired by different private companies based on the compensation mechanism in the recently passed Land act.

Some of the PSUs which no longer in operation are HMT - 3000 (acres) , NTC (many are shut) - 2800 (acres) etc.
 

Nicky G

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Fiscal defecit a concern or good news?

Fiscal deficit position to improve in Jan-Mar quarter: Finance Ministry

NEW DELHI: The Finance Ministry is expecting an improvement in the fiscal position in January-March quarter on a likely pick up in tax revenue realisation, receipts from spectrum auction and stake sale of PSUs.

"Fiscal deficit will not be an issue as 50 per cent of the tax revenue usually comes in the fourth quarter. We are also expecting revenues from spectrum auction and disinvestment to come in the fourth quarter," sources said.

The government's fiscal deficit for April-November, the first eight months of the current financial year ending March 2015, touched 98.9 per cent, or Rs 5.08 lakh crore, of the Budget estimate. The fiscal deficit in 2014-15 is estimated to be at Rs 5.31 lakh crore or 4.1 per cent of the GDP.

The fiscal deficit had stood at 93.9 per cent of the Budget estimates in April-November of 2013-14 fiscal.
 

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