-The Hindu Business Line ‘GDP growth rates for 2004-11 were bound to come down’ New Delhi: “You can slice and dice the data anyway you want, but India’s GDP growth rates between 2004 and 2011 were bound to come down in the backcasting computation effort,” said TCA Anant, former Chief Statistician of India. When the new base year of 2011-12 came out, the Central Statistics Office (CSO) had documented and recognised that the...
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The oil & rupee problem -Kirit Parikh
-The Indian Express A balanced approach can reduce petrol price without affecting revenues. RBI mustn’t artificially shore up rupee The Brent crude oil price has changed from around $68/barrel in January to $70/barrel on November 9, touching a high of $86 on October 3. The rupee has also fallen from Rs 63.30 per US$ in January to Rs 70 on November 9. These fluctuations have created major policy problems for the...
More »Factory growth slows to 10-month low
-The Hindu Slowdown in consumer durables hits August manufacturing ; retail inflation rises to 3.77% in Sept. New Delhi: Industrial production slowed to a 10-month low of 4.3% in August, due in large part to a drastic deceleration in the manufacturing, mining, and consumer durables sectors, according to official data released on Friday. The Index of Industrial Production (IIP) slowed in August from its growth rate of 6.61% in July. Within the index,...
More »What ails the Indian banking sector? -Pronab Sen
-Livemint.com The problem escalated due to the government’s focus on infrastructure during 2002-09, especially with the efforts made to promote public-private partnerships The past two years or so have seen rapidly increasing stress in the Indian banking sector, with non-performing assets (NPAs) steadily climbing from under 3% to over 13% of total assets. Loan-loss provisioning for NPAs has seriously eroded the capital base of several banks, limiting their ability to make further...
More »Cause for caution: On India's GDP growth -Puja Mehra
-The Hindu India’s GDP growth continues to be powered by consumption, not investments A question being raised about the GDP estimates for the first quarter of this year (April-June) is: How should 8.2% GDP growth be interpreted in, or reconciled with, the overall context of some of the pronounced trends in the economy? These include the depreciating rupee, rising bank bad loans, or non-performing assets (NPAs), a trade deficit that has shot...
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