Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ACCOUNTING STANDARD :: articles on VAT and GST in India :: cpt :: empanelment :: due date for vat payment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS :: form 3cd :: VAT RATES
Budget Extravaganza »
 Government should reinstate wealth tax in Budget 2017
 With demonetisation inducing tax compliance will PM Modi cut tax rates in Budget 2017?
 State plan budget utilisation in Odisha
 Maharashtra wants budget advanced to February
 Coastal economic zones may get 10-year tax exemption in next Budget
 Why advancing the Union Budget date may not make much difference
 Govt keen 2017-18 budget should not clash with polls: Arun Jaitley
 Finance Ministry seeks industry suggestions on taxation for Budget
 Budget should focus on fiscal firm up
 Finance ministry keen to present Budget on February 2 or earlier
 Poor railway performance may mar merged Budget

FY10 GDP growth at 7.75 pct - Pranab Mukherjee
February, 10th 2010

Finance minister on Wednesday pegged 2009/10 economic growth at around 7.75 percent, higher than the government's forecast, and a top adviser said the coming budget could provide a map for exiting stimulus measures.

Pranab Mukherjee said an annual 7.9 percent expansion in July-September, the fiscal second quarter, had boosted optimism.

"The growth outlook for the next two quarters and for the whole year is expected to be in the upper bound range of most predictions for the Indian economy," he said in a speech.

Mukherjee's projection is in line with the Reserve Bank of Indias growth forecast, but is higher than the Central Statistical Organisation's (CSO) advance GDP growth forecast of 7.2 percent.

Economists said the finance ministry and the RBI seem to be betting on better-than-expected growth in the final two quarters of the fiscal year. The CSO's forecast, released on Monday, will be revised in June.

Asia's third-largest economy has been picking up momentum, powered by industrial output that is expected to have risen an annual 12 percent in December.

The stronger growth is expected to allow the government to start rolling back fiscal stimulus measures that were put in place when the global economic crisis erupted in 2008.

"The budget can attempt a roadmap for exit," C. Rangarajan, chairman of the prime minister's Economic Advisory Council, told reporters.

India is scheduled to unveil the annual budget on Feb. 26.

The debt market did not react to Mukherjee's forecast as other policymakers, including Prime Minister Manmohan Singh, have announced the number several times before.

Earlier this month, the International Monetary Fund forecast growth in 2009/10 of 6.75 percent.

The markets have already priced in an increase in interest rates on or before the RBI's scheduled policy review on April 20, and dealers said the next big trigger would be the budget.

Central bankers have said the government's net borrowings for 2010/11 would be broadly in line with the current fiscal's net borrowing.

India had a record gross borrowing of 4.51 trillion rupees ($97 billion) in 2009/10.

Stronger economic growth could help the government fight a 16-year high fiscal deficit, thus lowering borrowing needs and easing pressure on bond yields.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions