สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 10 สิงหาคม 2555
Govt has 'badly lost its way', hurting economy: Moody's
The Indian government is the "single biggest factor weighing on business confidence and the economic outlook", Moody's Analytics said on Thursday while revising downwards the GDP estimate for Asia's third-largest economy to 5.5% in 2012-13.
It said the economic slowdown in India was sharper and more broad-based than anticipated and was now deeply entrenched across all sectors of the economy.
The agency lowered the growth estimate for 2013 to 6% from the previous estimate of 6.2%.
(Sources: Economic Times, Times of India, Indiatimes, Business Today, Moneycontrol)
Uttarakhand to prepare mega plan for auto, knowledge hubs
The Uttarakhand government has decided to prepare a mega action plan for attracting big investments in the proposed new auto hub at Sitarganj and set up a knowledge hub at Kashipur.
A decision to this effect was taken by Chief Minister Vijay Bahuguna during a review meeting of the department of industrial development on Wednesday. Under the new action plan, the government would launch steps to attract entrepreneurs for the Sidcul Phase-2 industrial estate at Sitarganj for which the National Projects Construction Corporation has already been selected as a consultant. The new industrial estate at Sitarganj would be developed as an auto-hub, said Rakesh Sharma, principal secretary, industries.
(Sources: Business Standard, Hindu Business Line, IBNLive, Business Today)
Indian auto industry showing signs of slowdown: SIAM
The Indian auto industry is showing signs of slowdown, said the Society of Indian Automobile Manufacturers (SIAM) on Friday. SIAM data for April-July 2012 released on Friday indicates that although the sector crawls in terms of sales, utility vehicles grew strong, clocking 53% growth over same time last year.
The overall commercial vehicles segment registered 4.74% growth in April-July 2012 as compared to the same period last year, while medium and heavy commercial vehicles registered 12.75% fall. Light Commercial Vehicles grew at 18.02 % during the period. Three-wheelers sales recorded marginal growth at 0.81% while two-wheelers registered a growth of 9.75% during April-July 2012. SIAM says during April-July 2012 overall automobile exports fell 4.03%.
(Sources: Economic Times, Indiatimes, Worldnews, IBNLive, Zeenews)
Planning Commission approves Delhi's $ 2.87 billion outlay for 2012-13
The Planning Commission today approved Delhi's $ 2.87 billion annual Plan for 2012-13 which is 11.7 % higher than the outlay for the last fiscal.
The Plan outlay was approved here at a meeting between the Commission's Deputy Chairman Montek Singh Ahluwalia and Chief Minister of Delhi Sheila Dikshit.
Power generation capacity in the state is proposed to be increased to 4,730 MW during the 12th Plan from the present level of 2,232 MW.
(Sources: Economic Times, the Hindu, Indiatimes, Worldnews, i4u)
Industrial production (IIP) falls 1.8%
India's industrial output (IIP - index of industrial production) contracted for the third time in four months in June, increasing pressure on new Finance Minister Palaniappan Chidambaram to move quickly to pull Asia's third-largest economy from its worst slowdown in almost a decade.
The contraction provided further ammunition to the slew of private economists who downgraded their growth outlook for India this week, citing a worsening drought and political hurdles to economic reform.
Auto, industrial machinery, electrical and electronic equipment and sugar production led the slowdown in manufacturing, according to the data.
India's exports fell 5.45 % to $25.1 billion in June, after recording strong growth for much of the last year.
(Sources: Economic Times, Reuters, Financial Express, Zeenews, Indian Express)
Delhi to Agra now in 2-and-half hours
The much-awaited and delayed 165-km Greater Noida-Agra Yamuna Expressway was inaugurated on Thursday, cutting travel time between New Delhi and the city limits of Agra by about half to two-and-a-half hours.
The existing 24-km Noida-Greater Noida Expressway, which would be used by many motorists to hit the Yamuna Expressway, would be toll-free.
The expressway was inaugurated by Uttar Pradesh chief minister Akhilesh Yadav.
The project suffered delays for several reasons, including farmers' protests over land acquisition.
(Sources: Times of India, Hindustan Times, IBNLive, the Hindu, Yahoo)
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