สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 29 ตุลาคม 2555
Cabinet reshuffle brings new blood as PM eyes elections
Prime Minister Manmohan Singh gave his cabinet an overdue facelift on Sunday, bringing in younger ministers in a bid to breathe new life into his aged, scandal-tainted government ahead of state and Lok Sabha elections.
Foreign Minister, S.M. Krishna's replacement was Salman Khurshid, who until the shakeup was law minister. Khurshid has been battling allegations levelled by anti-corruption activist Arvind Kejriwal that involve the misappropriation of funds in an NGO. Khurshid has strongly denied any wrongdoing.
Other key appointments are: Veerappa Moily (oil), Ashwani Kumar (law and justice), Dinsha Patel (mines) Jyotiraditya Scindia (power) and Sachin Pilot (corporate affairs).
(Sources: Reuters India, IBNLive, Business Standard, Economic Times, Indiatimes)
Entertainment & media sector to touch $ 32.67 billion by 2016: Study
The entertainment and media industry in India is set to touch $ 32.67 billion by 2016, on the back of continued growth in advertising and increasing consumer spend, according to a joint study by industry body Confederation of Indian Industry (CII) and consulting firm PricewaterhouseCoopers (PwC).
The industry, which was estimated at $ 14.93 billion in 2011, will grow at 17 % compounded annual growth rate (CAGR) between 2012 and 2016, according to the ‘Indian Entertainment & Media Outlook 2012’ report.
The Indian entertainment and media industry has been identified as the fastest growing, followed by China (14 %), Russia (12 %) and Brazil (11 %).
(Sources: Business Standard, Moneycontrol, Financial Express, Economic Times, Hindu Business Line)
S Africa, Georgia want to do business with Uttarakhand
South Africa is one of the countries that have evinced interest in investing in sectors like infrastructure and tourism in Uttarakhand.
South African High Commissioner H M Majeke, who attended the Second Ambassadors' Meet which concluded here yesterday, told the organisers that his country would like to invest in infrastructure facilities like airport in the hill state. "South Africa has identified Uttarakhand as one of the important places for investments," Majeke said.
The Chief Minister Vijay Bahuguna, on the other hand, invited foreign investments in sectors like health, tourism, industry and infrastructure.
(Sources: Business Standard, Financial Herald, IBNLive, Zeenews, Worldnews)
India to suffer over 10% peak power shortage in FY13: CEA
The peak power shortage that India may face this fiscal, as it grapples with acute dearth of coal and gas supplies, is estimated to be 10.6 per cent, says a CEA report.
Peak power shortage, defined as shortfall in generation capacity during the time when the electricity consumption at the maximum, will be close to 15,000 MW.
Megawatt (MW) is used to refer to generation capacity, while Million Unit (MU) indicates the amount of power or energy produced.
According to another CEA data, there was a peak power deficit of 9 % or 12,159 MW in the first six months (April-September) of the current financial year (2012-13). This was mainly due to scare fuel supply.
(Sources: Financial Express, Moneycontrol, Indian Express, Zeenews, Press Trust of India)
Bharti in talks with Wal-Mart for rolling out front-end stores in the next 12-15 months
Bharti Enterprises is in talks with its US partner Wal-Mart for rolling out front-end stores after the relaxation of FDI norms in retail and it wants the government to remove the differentiation in sourcing rules between single and multi-brand segments.
The company also feels big multi-brand retailers will not sound the death knell of small kirana stores as both formats can co-exist.
(Sources: Economic Times, Indiatimes, Business World, Worldnews, IBNLive)
India's macro economic environment remains challenging: Morgan Stanley
Growth indicators for the Indian economy are showing signs of stabilisation but the macro economic environment still remains challenging, particularly with regards to inflation, says a Morgan Stanley report.
It termed the recent reforms push by the government as a positive sign and said that such moves will support investment sentiment. However, the report added that there are very slim chances of a quick correction of the fiscal deficit via expenditure control.
(Sources: Business Standard, Economic Times, Indiatimes, Moneycontrol, Financial Express, i4u)
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