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CMIE sees real GDP growth at 9.2 per cent this fiscal (ET)
In FY 10, real GDP grew by 7.4 per cent. According to the think-tank, all the three
broad sectors of the economy -- industrial, services and agricultural and allied sectors
-- are expected to fare well.
Govt raises Rs 40,000 crore via disinvestment in 2010 (ET)
Having begun 2010 with a wide gap between its income and expenditure, the
government diluted its stake in nine state-owned companies, including Coal India, to
raise Rs 40,000 crore that helped cut borrowings.
Govt consumption spend set to fall to 2.24L cr (ET)
The central gov’t exp. on wages and purchase of other goods and services is set to
drop sharply in relative terms in 2010-11 from a year ago, indicating a reduction in the
state-funded fiscal stimulus to keep the economy growing after the financial crisis.
Rap for govt on SEZ taxes (BS)
Parliament’s Standing Committee on Finance has criticised the government for not
doing a review of the tax exemptions given to Special Economic Zones (SEZs) and an
evalutation of the losses due to these. In April.
India Won't Spare Guilty in Mobile-Phone Licenses Probe, Minister Says
(Bloomberg Finance LP)
India will prosecute any company that violated rules for obtaining mobile-phone
licenses from 2001 and won’t spare those found guilty.
DoT may seek law ministry's opinion on charging fee for excess spectrum (ET)
Before referring the matter to the law ministry, the DoT will wait for sector regulator
Trai, which will come out with its recommendations on this issue within a fortnight.
Gujarat eyes $1 bn investment for pharma industry (ET)
Gujarat, which accounts for nearly a half of the Indian pharma industry's turnover, is
betting big on making the state a global hub as it eyes deals worth over $1 billion at
the upcoming business conclave here next month.
Tariff-based bidding for power projects from Jan 5 (BL)
The Government has set January 5 as the cut-off date for power projects to shift to a
tariff-based competitive bidding regime.
NTPC in initial talks with Qatar to source gas (Reuters)
State-run power utility NTPC is in early stage of discussions with Qatar to source 1.3-
1.4 mmcmd of gas, Chairman Arup Roy Choudhury said on Friday.
Punjab & Sind Bank IPO covered nearly 51 times (Reuters)
State-run Punjab & Sind Bank's initial share offer was subscribed 50.75 times, data
from the stock exchanges showeds.
Union Bank raises BPLR by 0.50% to 13.25% (ET)
Public sector lender Union Bank of India today increased its benchmark prime lending
rate by 0.50 per cent to 13.25 per cent on the back of hardening of interest rates
across the economy.
Tata Power to add 1,900 MW in 2011 from multiple sources (ET)
Tata Steel, the country's largest steelmaker, is contemplating the possibility of
bidding for Ispat Industries, as lenders to the ailing steel company attempt to recover
their dues totalling about Rs 7,000 crore.
Corp bond mkt can develop if govt cuts borrowing – RBI (Reuters)
India's corporate bond market can develop if the federal government reduces its
borrowing programme, a senior Reserve Bank of India official said on Friday.
RBI to regulate microfinance (Reuters)
The chief minister of Andhra Pradesh, which has cracked down on the operations of
microfinance firms, pledged cooperation with the Reserve Bank of India (RBI) if it
adopts "strict" rules governing non-bank financial firms.
Consumer, Business Spending Probably Increased as U.S. Economy Accelerated
(Bloomberg Finance LP)
Spending by U.S. consumers and businesses probably accelerated in Nov., a signal
the econ. is speeding up at the end of the year.
IMF Approves $3.3 Billion for Greece Amid `Impressive' Fiscal Adjustment
(Bloomberg Finance LP)
The IMF said Greece’s rescue program has “continued to perform well” and it
approved payment of another 2.5 billion euros.
Euro zone leaders miss opportunity to calm markets (Reuters)
Euro zone leaders have agreed on how to resolve debt crises from 2013, but failed to
reassure markets about what they will do in the short-term.
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