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The Commerce, Industry and Textile Minister of India, Sri Anand Sharma interacted with CEOs of top business firms and heads of Universities in Dallas, Texas on 21st September 2011. The business roundtable, hosted by the CEO of Texas Instruments, Mr Rich Templeton, included CEOs of companies engaged in Banking, Automation and Information Technologies, Oil and Gas Industry,
The Indian economy has traversed a long way during the course of which it has stepped up its growth trajectory over successive decades, especially since the 1980s. It grew at a rate of around 3.5 per cent between 1950 and 1980, about 5.5 in the 1980s, going up to over 6 per cent in the 1990s and in the early years of this century. Since about 2003-04 it has moved further to a higher trend growth path of 8.5 to 9 per cent per annum. Between 2005 and 2008, India’s GDP grew at around 9.5 per cent per year making it one of, the fastest growing democracies in the world.
There is a consensus among analysts that India has a remarkable stretch of growth over the next thirty years. Several reasons support growth to be sustained at a high rate of 8 to 9 per cent per annum. First, the savings and investment ratios have gone up in the last few years and are reminiscent of the high growth East Asian economies. Secondly, India’s working age population is young with over half the population is in the twenties
The terms of reference of the Task Force under the Chairmanship of Shri Nandan Nilekani, Chairman, Unique Identification Authority of India (UIDAI) has been expended to include an Aadhaar-enabled unified payment infrastructure. The said Task Force was constituted by the Ministry of Finance in February 2011 to recommend and implement a solution for direct transfer of subsidies on Kerosene, LPG and Fertilizer to the intended beneficiaries.
Dr. Sanjiv Agarwal The government of the day seems to be on the back foot as it has failed check inflation on a continuous basis, fuel prices have risen beyond imagination in past two years and it is not able to concentrate on reforms, given the political developments and host of corruption scandals which have […]
The Union Finance Minister Shri Pranab Mukherjee will leave for five days visit to US on the early morning of 21st September, 2011. On the first leg of his visit he will reach New York in the morning of 21st September and will address 8th Annual India Investment Forum Meeting where he will deliver the key note address on the theme of India’s Continuing Growth Story.
The Government has decided not to proceed for the time being with further public offer of 5% paid-up equity shares of Oil and Natural Gas Corporation Limited (ONGC ) through an offer for sale. However, the Government continues to believe in the inherent strength of ONGC . The decision will be evaluated in due course keeping in view all relevant factors. Significant work has been done by all involved with a common objective of delivering a successful Offer and all continue to believe in the inherent strength of the Company. The Government remains committed to the Disinvestment programme.
The Union Finance Minister Shri Pranab Mukherjee said that India is convening a meeting of BRICS Finance Ministers in Washington DC on September 22, 2011 on the sidelines of the Fund-Bank and G-20 Meetings. The Finance Minister said that we would explore the manner in which BRICS could coordinate in addressing the evolving economic and financial situation in the various countries of the world.
A MoU was signed todya in Mumbai between IIFCL, LIC and IDFC in the presence of the Union Finance Minister Shri Pranab Mukherjee and the Chief Minister of Maharashtra Shri Prithviraj Chauhan today in Mumbai.
The Union Finance Minister Shri Pranab Mukherjee was speaking in Mumbai today while reviewing the flow of credit under various schemes and progress of the financial inclusion with the representatives of State Governments/UTs of Western Region and Chief Executive Officers(CEOs) of Public Sector Banks (PSBs) and Financial Institutions(FIs).The Finance Minister said that the credit flow to Agriculture Sector has been exceeding the annual target for the past many years.