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
News Headlines »
 10 must have documents to file your tax return
 Know all about how to file ITR FY 2017-18
 Government extends sale of pre-GST goods with stickers of revised price till July 31
 All 7 ITR forms for assessment year 2018-19 activated for e-filing: Income Tax Department
 Check if new salary structure is income tax efficient
 GST refund drive extended till June 16
 5 income tax returns filing mistakes you must avoid
 Your complete guide to file income tax return
 Input Tax Credit refund drive till June 14
 File Your Income Tax Return for FY 2017-18 Immediately, Know Why
 Which ITR form to file if income is in dollars?

PMEAC: Economy likely to grow by about 8.5% in FY12
June, 14th 2011

In the backdrop of the RBI's tight monetary policy and high inflation, PMEAC Chairman C Rangarajan today said India's economic growth in the 2011-12 fiscal is likely to be about 8.5%, lower than the Budget projection.

"I believe (it would be closer to) 8.5%," he said at an Organisation for Economic Cooperation and Development (OECD) event.

In his Budget speech, Finance Minister Pranab Mukherjee had pegged economic growth for 2011-12 at 9%.

However, the Reserve Bank, in its monetary policy in May, said that GDP growth during 2011-12 would be only around 8%.

The Chairman of the Prime Minister's Economic Advisory Council (PMEAC), however, exuded confidence that India has the potential to clock GDP growth of 9% in the medium term.

"... Potential (for Indian economy) to grow at 9% exists," he added.

Mukherjee, too, said yesterday that the growth drivers of the country were intact, as the government aims at GDP growth of 9-9.5% during the XII Five-Year Plan, starting April, 2012.

The RBI has hiked key policy rates nine times since March, 2010, in a bid to tame inflation, which was over 9% in May. The central bank is scheduled to come out with a mid-term monetary policy review on June 16.

On the performance of the economy in 2011-12, he said there may be some slowdown in agricultural growth, but the expansion in the industrial and services sectors is likely to be higher year-on-year.

The 8.5% annual growth in 2010-11 was backed by robust numbers from the agriculture sector.

Agriculture and allied sectors grew by 6.6% during the fiscal, as against a meagre 0.4% in the previous year.

The growth of services, including banking and insurance, improved to 9.9% in 2010-11 from 9.2% in the previous fiscal, while manufacturing sector growth slowed down to 8.3%.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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