สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 8 กุมภาพันธ์ 2556
RBI waiting for Budget picture
The Reserve Bank of India on Thursday said it would take into account the decelerating growth and the finance ministry’s fiscal consolidation efforts in its coming Budget proposals before formulating its monetary policy review next month.
RBI Governor D Subbarao told reporters in Guwahati after RBI’s board meeting that like everyone else in the country and around the world, they are also looking forward to the Budget, to have a better understanding of how fiscal consolidation could be done on the way forward.
On the latest growth estimate of five per cent for the current financial year, he also said that RBI would like to know about the CSO (Central Statistical Organisation) projection. A 5 % rate would be the lowest in a decade. The economy grew 6.2 % in 2011-12.
(Sources: Business Standard, NDTV, Smart Investors, i4u, Moneycontrol, India Everyday)
Poor monsoon rain to hit farm growth
Uneven rain during the kharif season would, it is estimated, pull down India’s agriculture and allied sector growth to a three-year low of 1.8 % during 2012-13, against last year’s 3.6%.
According to advance estimates released by the Central Statistical Organisation (CSO) today, foodgrain production in 2012-13 was expected to fall by 2.8 % against growth of 5.2 % in the previous year. Cotton and sugarcane output was projected to decline by 4 % and 6.5 %, respectively.
(Sources: Economic Times, Indiatimes, Worldnews, Rediff, Smart Investors, NDTV, Zeenews)
Karnataka economy grows by 5.9% in FY13
Despite slowing growth of the services sector the Karnataka economy is expected to grow at 5.9% and reach $ 56.70 billion in 2012-13 (GSDP at constant prices 2004-05) as against 5.5% growth rate recorded in 2011-12. The services sector, which recorded 60 basis points drop in the growth rate, continues to be the major contributor to the state’s economy and is showing encouraging trends.
The state’s growth rate is slightly less than the all India average. The decline can be largely attributed to the State’s economy being more open to external trade as compared to the national economy, the pre-budget economic survey for 2012-13 released here today said.
(Sources: Business Standard, Financial Express, Indian Express, India Everyday)
India least green country for electric cars: Report
India has been classified as the least green country to make and drive electric cars, according to a study.
According to an analysis by independent research group, Shrink That Footprint, heavily coal-based power generation in India results in from electric car emissions similar to traditional petrol vehicles.
A fully electric car generates emissions comparable to a 20 MPG petrol vehicle, the report found after assessing the impact of grid-powered electric vehicles (EVs) in 20 of the world's leading countries.
(Sources: Zeenews, the Guardian, Moneycontrol, Economic Times, Indiatimes, EAI)
Auto industry expected to grow at 2-3%: General Motors
The automobile industry in India is likely to grow at 2-3% in 2013, said a top official of American car-maker General Motors, while launching its Sail sedan car in Ahmedabad.
The company expects its sales in Gujarat to rise from 8,500 in 2012 to 12,000 in 2013. It is betting high on the over half a dozen launches in past 12 months as well as Multi Purpose Vehicle (MPV) Enjoy, that will be launched in March or April this year.
(Sources: Economic Times, Indiatimes, Hindustan Times, Smart Investors, Auto News, i4u)
India's IIP (index of industrial production) slump likely over, growth up in Dec: Economists
The worst is probably over for flagging Indian factories but production was likely subdued in December as global demand remained weak.
India's index industrial production (IIP), which includes output at factories, mines and utilities, likely rose an annual 1.1 percent in December after shrinking 0.1 percent in November, according to the poll of 24 economists conducted this week.
If realised, that would show factory output grew in just six months of last year but economists said Indian manufacturers were expected to fare better this year.
(Sources: Financial Express, Indian Express, Moneycontrol, Times of India, CNBC)
India may be among top three aviation markets by 2020
India is likely to become one of the top three aviation markets in the world by 2020 provided the strong passenger growth clocked in recent times continues, a Ficci-PwC report said today.
"Indian civil aviation sector has continued to experience high passenger growth, and if the trend continues it could rank among the top three aviation markets in the world by 2020," it said in the report titled 'Indian Aviation:Spreading its Wings'.
Domestic traffic in India saw a Compounded Annual Growth Rate (CAGR) of 17 per cent between 2009 and 2011. The report also said this would be a good time for global players to enter India and explore the potential of a large underserved market.
(Sources: Economic Times, Indiatimes, Indian Express, i4u, Moneycontrol, India Everyday)
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