สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 8 มีนาคม 2556
Govt fails to win consensus on Land Acquisition Bill
Despite Rural Development Minister Jairam Ramesh’s desperate efforts, no consensus could be arrived at on the Land Acquisition Bill in the all-party meeting today.
The government is keen to introduce the Bill in the current session of Parliament. However, with most political parties still not on board, the government has had to send the draft of the proposed legislation to various leaders and meet them again on March 20.
The bone of contention is the 180-odd amendments that the rural development ministry has suggested. According to opposition parties, many changes will make the Bill a completely different document from the one passed by the standing committee.
(Sources: Economic Times, Indiatimes, Livemint, Business Standard, NDTV, Firstpost)
Rubber imports fall 61 pc in February yoy
MUMBAI: Country's natural rubber imports fell 61.3 per cent on year to 9,497 tonnes in February, the state-run Rubber Board said in a statement on Thursday.
India, the world's fourth-biggest producer, imports natural rubber from Malaysia, Thailand and Indonesia.
(Sources: Economic Times, Indiatimes, Global Rubber Markets, Hindu Business Line, Moneycontrol)
Six Gujarat airports to be modernised with an investment of $ 58.77 million
Six airports of Gujarat will be modernized during the Twelfth Five-Year Plan period with a total investment of $ 58.77 million, said Union minister for Civil Aviation K C Venugopal on Thursday. These airports are Ahmedabad, Bhavnagar, Jamnagar, Rajkot, Surat and Vadodara.
(Sources: Economic Times, Indiatimes, Hindu Business Line, IBNLive, INA Gist)
Double-digit growth without reforms dangerous: Moody's
Moody’s has cautioned the government against targeting double-digit gross domestic product (GDP) expansion saying any growth beyond seven per cent without reforms will fuel inflation that would result in “more painful” future adjustments.
“Some government policymakers, most notably RBI Governor D Subbarao, have begun pushing for a return to double-digit growth. This is wildly optimistic and, without significant structural reform, a dangerous view to take," Moody’s Analytics, an arm of ratings agency Moody’s, said.
The WPI inflation has moderated to 6.62 % in January, after remaining close to double digit in most part of 2012. Besides, the current account deficit (CAD), which is the difference between the inflow and outflow of foreign currency, has peaked to 5.4 % in July-September quarter. The report further said gains in financial markets reflect rising expectations around the economy as well as lower risk.
(Sources: the Hindu, Indian Express, Financial Express, Hindu Business Line, Business World, PTI)
El Nino neutrality may help India avoid drought this year, says expert
India may avoid a drought for a fourth straight year as the El Nino weather system looks unlikely to impact monsoon rains, a leading forecaster said on Thursday, promising yet another bumper grains output in the Asia's third-biggest economy.
El Nino was a factor in India's last severe drought in 2009 when the country had to import sugar, pushing global prices to 30-year highs. It is associated with warming of the sea's surface in the Pacific Ocean and can cause widespread drought in the Indian sub-continent that results in lower grains output for one of the world's biggest food consumers and producers.
(Sources: Economic Times, Indiatimes, Jagran Post, Daily India News, i4u)
India industrial production likely rose 1.2% in January
Indian factory production in January probably rose from a year earlier after shrinking in December, boosted by a pick-up in domestic demand and infrastructure output at a three-month high, a poll showed.
Index of Industrial Production (IIP), which includes output at factories, mines and utilities, was estimated to have risen an annual 1.2 % in January after unexpectedly falling 0.6 % in December, according to this week's poll of 24 economists.
Output in the country's eight key infrastructure industries , widely known as the core sector and accounting for almost 40 % of factory production, grew an annual 3.9 % in January, its fastest in three months.
(Sources: Indian Express, Financial Express, Moneycontrol, India Everyday, NDTV)
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