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: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: VAT Audit :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: empanelment :: VAT RATES :: list of goods taxed at 4% :: TDS
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

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 2017 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