-The Business Standard The government must prepare for below-normal monsoon A massive 30 per cent deficiency in the monsoon rainfall in June, coupled with an anticipated low precipitation in September, may add to the government’s difficulties in achieving its growth and fiscal deficit targets. Agriculture may not be the only victim of poor rainfall. Its contribution to gross domestic product (GDP) may have dipped to mere 15 per cent but it still...

Madhya Pradesh's Gross Domestic Product ( GDP) growth rate has swelled to 12 per cent in the last fiscal from 8 per cent in 2010-11, according to the revised estimates, officials said on Friday.  Besides, the state, having agrarian economy, recorded 18 per cent agriculture growth rate in 2011 - 12, they added.  The economic and agriculture growth is bound to benefit a huge populace engaged in construction and agriculture sector by...

-Down to Earth World is moving towards natural capital as a measure of economic growth After using gross domestic product, or GDP, as the universal measurement of economy for six decades, the world has begun looking beyond this gold standard for measuring a country’s economy. On May 25, 10 African countries agreed to incorporate their natural capital, or value of their natural resources, into their national accounts to make better economic decisions. The...

-The Telegraph   Ashok V. Desai,consulting editor of The Telegraph and chief consultant to the finance minister when Manmohan Singh launched the economic reforms, takes a deep dive into statistics to figure out what is wrong with the economy as Pranab Mukherjee leaves the finance ministry and Singh takes charge The growth rate of gross domestic product is reported to have come down. What does that mean? Before the question can be answered,...

Finance ministry asks automobile sector to submit a report on the impact of such a move within a week’s time The government appears to have made up its mind to increase excise duty on diesel cars to neutralize the advantage of the state subsidy that has prompted motorists to increasingly favour vehicles powered by the fuel that’s Rs.30 a litre cheaper at the pump than petrol. Indications that the government is leaning...