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 STANDARDS :: VAT RATES :: articles on VAT and GST in India :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARD :: cpt :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: due date for vat payment
 
 
ę Latest Circulars »
  RBI-Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024
  RBI releases Handbook of Statistics on Indian States 2016-17
  RBI amends Banking Ombudsman Scheme: Includes Complaints relating to Misselling and Mobile/ Electronic Banking
 RBI releases Handbook of Statistics on Indian States 2016-17
 RBI amends Banking Ombudsman Scheme: Includes Complaints relating to Misselling and Mobile/ Electronic Banking
 Recording of Details of Transactions in Passbook/ Statement of Account
 Exclusion of ‚ÄúThe Royal Bank of Scotland N.V.‚ÄĚ from the Second Schedule to the Reserve Bank of India Act, 1934
 Monitoring of Foreign Investment under PIS in Indian Companies- Removal from Ban List - FIIs/RPIs : M/s IDFC Limited
 FIIs/FPIs can now invest 24 to 49 per cent under PIS in M/s Satin Creditcare Network Limited
  Bankers & SME Borrowers: The Emerging Mantras (Shri S. S. Mundra, Deputy Governor ‚Äď June 16, 2017 ‚Äď at the 3rd Bankers Borrowers Business Summit organized by ASSOCHAM in New Delhi1)
 RBI extends Directions issued to Navodaya Urban Co-operative Bank Ltd, Nagpur, Maharashtra

FINANCE MINISTERS STATEMENT ON REVISION IN GDP GROWTH FOR 2011-12 AND FOURTH QUARTER GDP ESTIMATES
June, 01st 2012
                                                                              "15"
                                                                         pib.nic.in

                         PRESS INFORMATION BUREAU
                           GOVERNMENT OF INDIA
                                    *****

 FINANCE MINISTER'S STATEMENT ON REVISION IN GDP GROWTH FOR 2011-12

                    AND FOURTH QUARTER GDP ESTIMATES


                                                    New Delhi : Jyaistha 10, 1934
                                                                    May 31, 2012


     Following is the text of the statement made by Finance Minister, Shri
Pranab Mukherjee on `Revision in GDP Growth for 2011-12' and fourth
quarter GDP estimates:


      "The, Ministry of Statistics and Programme Implementation has released the
revised estimates of national income for the financial year 2011-12 and the
quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter
(January-March) of 2011-12.

      The GDP growth at constant prices for 2011-12 has been revised
downwards to 6.5 per cent as against the Advance Estimate of 6.9 per cent
released in February 2012. This mirrors the quarterly trend in growth. The 2011-
12 fourth quarter growth has been estimated at 5.3 per cent. These are
disappointing figures in the context of our recent performance but have to been
seen in the light of overall global developments.




       Among the factors that have contributed to the slowdown are the tight
monetary policy that led to a significant rise in the interest costs and the weak
global sentiments that affected growth in domestic private investment. The
domestic investment sentiments may have been also affected by the
environmental policy bottlenecks in the mining sector.

       Most of these factors have bottomed out. The rate cycle has been reversed;
mining sector growth has turned around, progress has been made on fuel linkage
for coal based power projects; there is a turnaround in the investment (Gross
Fixed Capital Formation) growth rate in the fourth quarter, which had been
negative in the preceding quarters of 2011-12; and a normal south west monsoon
has been predicted for 2012-13. There are no major adverse results on corporate
performance in the last quarter of 2011-12. All these factors should help in the
recovery of growth momentum.

        The Government would take all necessary steps to address the imbalance
on the fiscal front and on the current account. It would help in checking
inflationary expectations and inspire confidence for improved capital flows as well
as recovery in domestic investment growth."

                                    **********
SS/GN



 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

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