India's economy grew faster than expected in the second quarter of its financial year, figures show. In the three months to September, gross domestic product (GDP) was up 8.9% from the same period last year. However, inflation remains a real concern for authorities with new figures showing prices rising by 9.7% in October. Although only the world's 11th biggest economy, India is the second fastest-growing major economy, behind China. Strong farm production, increased vehicle...
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Strong agri output to support GDP growth by Surojit Gupta
The country’s economic growth is expected to remain strong despite sluggishness in the manufacturing sector as a rebound in agricultural output is expected to support overall growth. Growth in the key farm sector, which accounts for nearly 17% of the nation’s GDP, has been a concern for policymakers for the past few quarters. But, healthy monsoon has raised expectations of strong farm output during July-September 2010. In addition, the arrival of...
More »Ashish Bose, Demographer interviewed by Shobhan Saxena
In 1985, Ashish Bose coined the term BIMARU while preparing a report on national population growth rate for Prime Minister Rajiv Gandhi. At the time, he was a professor at Delhi's Institute of Economic Growth. Ever since, BIMARU has been used to describe the four northern states that are seen as symptomatic of what's wrong with India.Shobhan Saxena asks Bose, 80, if Bihar is proof that BIMARU is history. Bihar...
More »Jaitapur N-power unit gets green nod by Viju B
The Union ministry of environment and forests (MoEF) has given environment clearance to the controversial Jaitapur nuclear power project slated to come up in Madban village (Ratnagiri district) along the Konkan coast. This is the second major project, after the Navi Mumbai airport, to be cleared by minister Jairam Ramesh in a week. The 9,900-mw Jaitapur nuclear power plant, the country's largest, will be set up in collaboration with the French...
More »Illegal financial flows: the great drain robbery by P Sainath
India has lost nearly a half-trillion dollars in illegal financial flows out of the country, says a new study by Global Financial Integrity. India is losing nearly Rs.240 crore every 24 hours, on average, in illegal financial flows out of the country. The nation lost $213 billion (roughly Rs.9.7 lakh crore) in illegal capital flight between 1948 and 2008. However, over $125 billion (Rs.5.7 lakh crore) of that was lost in...
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