Work on a new base year will start the moment the government starts releasing key economic data such as the Wholesale Price Index (WPI) and the Index of Industrial Production (IIP) with 2004-05 as the reference point within a few months. The National Statistical Commission (NSC), under C. Rangarajan, has recommended that the base year be updated every five years. Officials in the ministry of statistics and programme implementation (Mospi) say...
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Strong fourth quarter
The revised estimates of national income by the Central Statistical Organisation for 2009-10 present a generally positive picture of the economy. During the year, the economy grew by 7.4 per cent, marginally higher than the 7.2 per cent projected in February's advance estimates. A better-than-expected 8.6 per cent growth during the fourth quarter is the main reason. Industry has been a star performer. The strong performance of the crucial segments...
More »Why Posco is in trouble in India
Posco, the world's fourth largest steel maker, was in January ranked among a global list of 100 companies that will last for the next 100 years. Interestingly, governance, transparency and capacity to handle environment-related issues are taken into account in selecting these 100 companies "Posco will not only last the next 100 years, but will go beyond, and India will play a big part in our story of survival and growth", CK...
More »Factories to contribute more to national income than farmers by Surabhi
ON May 31, when the government announces GDP numbers for 2009-10, for the first time, factories would contribute more to the national income than the country’s farmers, marking a significant shift in the structure of the India economy. That does not, however, diminish the importance of the farm, fisheries and the forest sector because of the disproportionately high percentage of people still engaged in these activities. Neither does it take...
More »Environmental Challenge by Ramachandra Guha
Thirty years ago, a department of environment was set up in the Central government; 25 years ago, this was upgraded into a full-fledged ministry of environment and forests. As we mark these anniversaries, it must be said that the ministers in charge of this ministry have generally been incompetent, or malign, or both. Some might make an exception for Maneka Gandhi, who was minister of state for the environment between...
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