สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 29 พฤศจิกายน 2555
Goldman Sachs upgrades India to 'overweight'; sees growth recovery ahead
Goldman in its report also said that country's economic growth is likely to accelerate to 6.5 % in 2013 backed by favourable external sector demand outlook and a pick-up in domestic reforms.
The Indian economy is likely to grow at 7.2 % in 2014, compared with 5.4 % in 2012, the report said.
Earlier this week, International credit rating agency Moody's said the outlook on India rating was stable, providing some relief to the embattled government that faces heightened risk of downgrade from other ratings agencies following renewed fiscal slippage concerns.
Moody's said the stable outlook on the country's Baa3 rating was based on its structural strengths of a high household savings rate and relatively competitive private sector, which could help raise growth in coming years.
(Sources: Economic Times, Business Standard, IBNLive, Indiatimes, i4u)
Bihar beats Gujarat, Maharashtra with 21.9% growth in 11th Plan
Bihar has been the top performer among the major states in terms of economic growth during the 11th Five Year Plan which ended on March 31, 2012.
According to a Planning Commission report on state finances, only Sikkim and Goa, which are much smaller in size than Bihar, have performed better than the state.
The report reveals that the nominal gross state domestic product (GSDP) growth rate of Bihar was 21.9 % during the 11th Plan spread over 2007 to 12.
None of the major states which include Maharashtra, Andhra Pradesh, Gujarat and Uttar Pradesh could bag over 20 % GSDP growth rate in nominal terms.
(Sources: Economic Times, Worldnews, Times of India, IBNLive, Indiatimes, Zeenews)
Economy to grow at 7.7 per cent in 2012-16: ING
The country's economy is likely to grow by an average of 7.7 % during 2012-16, a report by leading financial services firm ING said today.
It added that on the production side, the main contribution to growth will come from the expanding labour force, increase in capital stocks and improved productivity.
The report also said it would take at least another year to bring the economy back to its potential output growth rate of 7.5 % per year.
It also said due to lack of policy measures, the fiscal deficit is likely to end up at 5.5 % of GDP this fiscal and current account deficit at 4.5 % during this period.
(Sources: Economic Times, Indiatimes, Moneycontrol, i4u, Daily India News, IBNLive)
India to see 4.5 per cent GDP growth this fiscal: OECD
India's GDP growth could fall to 4.5 % in 2012, the Organisation for Economic Cooperation and Development (OECD) said on Tuesday citing euro zone debt crisis as the biggest threat to the world economy even as the member countries of the currency union put out a bailout package for Greece that got a thumbs up from markets.
The forecast for India beats even the 4.9 % put out by the IMF last month. The OECD had pegged India's growth in 2012 at 7.3 % in its June 2012 forecast.
(Sources: Economic Times, Worldnews, Daily India News, IBNLive, Indiatimes, Zeenews)
Wheat exports in 2013 could reach 3 million tonnes, says official
Exports of wheat by India, the world's second-largest producer, could reach 3 million tonnes from government stocks in 2013, an official of a state-run trading firm said on Wednesday, adding that the country had sold 1 million tonnes since April.
Traders expect wheat shipments from India to rise as a potent combination of dry weather in the United States and drought in the Black Sea region hurts global supplies.
Since supplies from Russia and Ukraine have fallen, India has been selling wheat in key markets such as the Middle East, Africa and Southeast Asia.
(Sources: Economic Times, Reuters India, Financial Express, i4u, Indiatimes, IBNLive)
Honda Car India to set up greenfield diesel engine factory in Rajasthan
Honda Car India, the wholly-owned subsidiary of Honda Motor Co. of Japan will set up a greenfield diesel engine factory at its second industrial location in Rajasthan that have largely remained unutilised over the past five years.
The Indian subsidiary will debut Honda's first global compact car in diesel in 2013 fired by the locally-manufactured engines.
(Sources: Economic Times, Times of India, i4u, Indiatimes, IBNLive, Rediff)
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