Indian Economy-News & Updates

[TopCat]

The numbers will be realised in this current quarter itself....so you dont need to wait for long to be butthurt.

Here's another number to chew on while you are here. Indian govt spending is 600 billion USD. More than 3 times the entire Bangladesh GDP....and more than 21 times the Bangladesh govt spending. 21 times!...when we have 7 times the people....and its only going to continue to diverge from your soon to be submerged country. Should change your name from Bangladesh to Jala-desh....to eventually Dubo-desh

Your govt stole the money from Prem Ratan and spent on what? You still cant afford a latrine yet talking about 600 billion??? Poor Indian...

 

[Nilgiri]

Your govt stole the money from Prem Ratan and spent on what? You still cant afford a latrine yet talking about 600 billion??? Poor Indian...

Jala-Deshi butthurt is so funny to see. What a puny, weak and insignificant country. Latrines are being built left right and center now...soon there will be 100% latrine coverage...and then what will be your next excuse?

Jala-Desh is just one big latrine for India anyways....maintained by an old woman servant that pond scum like you can't remove....while swimming around in circles in the overflowing filth.

So enjoy living in the big latrine that surrounds you...."much poorer than India" Jala-Deshi. I mean a country on the level of Burma has its way with you whenever they want and bully and harass while you take it up the rear each time....how sad is that.

 

[proud_indian]

Jala-Deshi butthurt is so funny to see. What a puny, weak and insignificant country. Latrines are being built left right and center now...soon there will be 100% latrine coverage...and then what will be your next excuse?

Jala-Desh is just one big latrine for India anyways....maintained by an old woman servant that pond scum like you can't remove....while swimming around in circles in the overflowing filth.

So enjoy living in the big latrine that surrounds you...."much poorer than India" Jala-Deshi. I mean a country on the level of Burma has its way with you whenever they want and bully and harass while you take it up the rear each time....how sad is that.

and singing.........

 

[Nilgiri]

and singing.........

or maybe a little bit of

Now go home and get your f___k__g shinebox!

 

[proud_indian]

GARV Dashboard

rural electrification status: 24% completed

509 days to go to complete the target

plz check the above link to for detailed overview and download the GARV app from the google play store

GRAMEEN VIDYUTIKARAN - Android Apps on Google Play

GRAMEEN VIDYUTIKARAN on the App Store

 

[lightoftruth]

https://twitter.com/x/status/674481480459010048

 

[Nilgiri]

https://twitter.com/x/status/674481480459010048

I am hoping for higher than 7.9%. We need to breach the 8% mark and approach 9% mark in cpl years time imho.

 

[lightoftruth]

I am hoping for higher than 7.9%. We need to breach the 8% mark and approach 9% mark in cpl years time imho.

Even after GST it will take at least a year to see that ,coupled with increased inflation but gandhiparivar won't let it pass in Rajya Sabha.

BJP needs to be on roads protesting the way congress is stalling parliament/economy otherwise its just all dependent on FDI and executive reforms.

 

[Nilgiri]

More "bad" news:

FDI up 24 per cent at $60.69 billion in 16 months: Nirmala Sitharaman - The Economic Times

NEW DELHI: Foreign direct investment (FDI) in the country has increased by 24 per cent to $60.69 billion under the present government, Parliament was informed today.

The country had attracted USD 48.9 billion FDI during February 2013 to May 2014, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

"Yes sir. FDI in the country has increased since the inception of the present government," she said.

Sectors that have attracted healthy foreign investment during the period, June 2014 to September 2015 include computer software and hardware, trading, services, automobile and telecommunications.

Foreign investment is crucial for India, which needs about USD 1 trillion by March 2017 to overhaul infrastructure such as ports, airports and highways and boost growth.

=================

Even more bad news:

Indirect tax collections rise 24 per cent in November - The Economic Times

India’s IIP could grow, wholesale price inflation could come down: Report - The Economic Times

India's IT services exports up 15% at $82 bn in 2014-15: RBI - The Economic Times

 

[Echo_419]

Even after GST it will take at least a year to see that ,coupled with increased inflation but gandhiparivar won't let it pass in Rajya Sabha.

BJP needs to be on roads protesting the way congress is stalling parliament/economy otherwise its just all dependent on FDI and executive reforms.

I agree GST needs to be passed before 16

 

[ranjeet]

Air India likely to make 6% profit this fiscal, first since merger

 

[Nilgiri]

Cabinet allows states to mine & sell coal, ends monopoly of Centre

Cabinet allows states to mine & sell coal, ends monopoly of Centre | Business Standard News

Ending the 41-year-old monopoly of the central government over mining and sale of coal, the Cabinet Committee of Economic Affairs (CCEA) approved the allotment of coal mines to states for mining and commercial sale to medium and small industries in their state.

The statement of the government said CCEA gave its approval for allotting coal mines to central and state public sector undertakings for sale of coal, especially to medium, small and cottage industries, under the provisions of the Coal Mines (Special Provisions) Act, 2015.

Business Standard had earlier reported that the ministry of coal would allot non-operational mines to state governments for commercial mining and sale of coal to respective utilities for end-use in power, iron, steel, cement and allied sectors.

This move is likely to benefit the mineral-rich states to earn surplus revenue, which were until now earning royalty from private companies mining coal for captive use. This is pursuant to the enabling act on commercial mining and sale of coal in the new Coal Ordinance (Special Provisions), 2014.

Currently, states are allotted coal blocks but with specified end-use such as power production, steel and iron production etc.

“Consequent to this Cabinet decision, such coal blocks will not be having any specified use. So, the coal blocks which the states would mine, in turn, would be able to allot that coal to any industry. This will ultimately benefit the medium and small scale industries, including small power plants, which can’t source coal from Coal India,” Anil Swarup, secretary, ministry of coal, told Business Standard.

OTHER APPROVALS

• Pact with Met offices of UK, South Korea and Australia to jointly develop a model for better climate and weather prediction
• Pact with Spain to strengthen ties in the ports sector
• Pact on energy saving and energy efficiency among BRICS countries
• Sale of 0.99 acres of Air India at Coimbatore for Rs 19.81 cr
• Amendments in the Constitution (Scheduled Castes) Order Act, 1950, to modify the list of Scheduled Castes from Chhattisgarh, Haryana, Kerala, Odisha and West Bengal and in the Central List of Other Backward Classes of Chhattisgarh, Haryana and Kerala
• Ex-post facto approval to amendments in the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Bill, 2015

The government’s statement said this shall also enhance domestic production of coal to meet the demand of national economy, thereby reducing import. The coal-bearing states shall be getting additional revenue from such coal mines.

“The revenue would be equal to the amount of royalty on the quantity of coal produced on a monthly basis during the lease period/life of the mine, as well as one-time upfront payment, which is 10 per cent of the intrinsic value of coal in the mine in three installments in the first year of allotment,” said the statement.

It is expected that the incremental coal produce from such coal mines would cater to the unmet demand of the coal in the country, especially of medium, small and micro industries, and bridge the gap considerably between demand and supply.

Gasification in coal

In another key decision, the CCEA approved a policy framework for development of underground coal gasification in coal and lignite bearing areas in the country. A policy based on revenue sharing will be adopted for offering the blocks through competitive bidding. Over the next two years, some explored blocks will be identified for offer.

UCG is a method of extraction of energy from coal/lignite resources which are otherwise regarded as uneconomical to work through conventional mining methods. In the perspective of

CCEA allowed ministry of coal to engage a consultant for development of the contract document. For development of bid documents, work programme, conducting the bidding process etc., Central Mine Planning and Design Institute Limited (CMPDIL) will be the nodal agency, said CCEA.

 

[fsayed]

Government lowers 2015/16 growth estimate to 7-7.5 per cent: Finance ministry report - The Economic Times

NEW DELHI: The government on Friday lowered its growth forecast for the fiscal year ending in March 2016 to 7-7.5 percent from 8.1-8.5 percent estimated in February.

The revision came after Asia's third-largest economy grew 7.2 percent in the first half of the 2015/16 fiscal year.

In its mid-year economic review presented in parliament, the finance ministry said though the economy has made considerable progress, yet challenges remain.

 

[Nilgiri]

Railways to introduce online system for tracking costs, output creation

Read more at:
Railways to introduce online system for tracking costs, output creation - The Economic Times

 

[ranjeet]