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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 Interest income from an NRO account is fully taxable in India
 Income tax payers filing appeals before ITAT will have to provide information relating to the amount locked up in dispute
 GST, infrastructure status drive PE investments in warehousing
 Taxman should move towards limited scrutiny
  Government likely to withdraw tax notice on free banking services
 GST Council may bring natural gas, aviation turbine fuel under its purview at next meeting
 IT department cautions TDS deductors against quarterly filing default
 The notification said start-ups approved by an inter-ministerial panel are exempted from the tax which is levied on firms issuing shares to investors above their fair value, treating it as income from other sources
 Why you need to sort out your tax-residency status
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004

Economy expected to grow at 8 per cent: Rangarajan
June, 07th 2008

Prime Minister Economic Advisory Council on Friday scaled down its projection for economic growth this fiscal from 8.5 per cent to 8 per cent owing to domestic and international factors like rise in crude oil and commodity prices.

The council had projected a growth rate of 8.5 per cent in January, since then oil and commodity prices have risen substantially in the global market.

"Given the domestic and international factors, it may be reasonable to expect the growth rate to remain around 8 per cent in 2008-09," council's chairman C Rangarajan said here.

The Indian economy grew 9 per cent last fiscal. Enthused by this, Finance Minister P Chidambaram expressed confidence the economy will grow by close to 8.5 per cent this year.

Rangarajan expected inflation to cool from around eight per cent to six per cent in next 3-4 months, pinning hopes on good procurement of wheat and projection of good monsoon. "If the rains are good, then we can hope to see inflation rate come down further and remain at around 5.5 per cent."

Attributing the present rise in inflation, which is at a 45-month high of 8.24 per cent, to domestic and international factors, he said the prices, more particularly food prices, have been rising "mainly because of supply side factors".

Drought in Australia, he said, had reduced the availability of wheat considerably and diversion of corn for bio-fuel has cut its supply for consumption. Besides the food prices, oil prices have also risen sharply, he said.

Domestically, for the past three ears, money supply has been growing at an annual rate exceeding 20 per cent, he said. "This has injected significant liquidity into the system."

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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