ECONOMIC REVIEW (As on 15th February 2011)
Section ECONOMY 4India's economy seen growing at 8.6 per cent in FY’11
4Food inflation dips to 13.07 per cent
4India’s industrial output grows 1.6 per cent in December 2010
4India's exports grow by 32.5 per cent to USD 20.6 billion in January 2011
4FDI in December 2010 up 30.6 per cent to USD 2 billion
4India's per capita income to grow 17.3 per cent at `54,527 in FY'11
REPORTS 4India most preferred to set up back-end IT units: Report
4Climate change to cause more migrations in Asia Pacific: ADB
ECONOMY
India's economy seen growing at 8.6 per cent in FY’11 India’s economy is set to expand by 8.6 per cent in the fiscal year ending in March as against 8 per cent in the previous year. The data released by the Central Statistics Office (CSO), shows agriculture powering the country’s overall economic growth, rising smartly to 5.4 per cent from a dismal 0.4 per cent in the year before. While manufacturing growth is projected at 8.8 per cent, same as last year, the services sector is seen slipping marginally to 9.6 per cent against 10.1 per cent in the previous year, largely because of a slower rise in government spending.
wholesale price index of food articles in the country plummeted to 13.07 per cent during the week ended 29 January 2011 against 17.05 per cent in the previous week. The index for ‘Primary Articles’ group declined by 1.4 per cent, the index for 'Food Articles' group declined by 2.8 per cent and the index for ‘Non-Food Articles’ group rose by 2.5 per cent. The index for ‘Fuel, power, light & lubricants’ group remained unchanged at its previous week's level.
India’s industrial output grows 1.6 per cent in December 2010
Food inflation dips to 13.07 per cent
India Inc., the growth in industrial production plummeted to 1.6 per cent in December 2010 the lowest in 20 months because of a sharp contraction in the capital goods sector and the base effect of last year’s high growth.
The annual rate of inflation based on the
The Indices of Industrial Production for the Mining, Manufacturing and Electricity
sectors for the month of December 2010 recorded the growth rates of 3.8 per cent, 1.0 per cent and 6.0 per cent as compared to December 2009. The cumulative growth during April - December, 2010-11 over the corresponding period of 2009-10 in these three sectors have been 7.7 per cent, 9.1 per cent and 4.7 per cent respectively, which moved the overall growth in the General Index to 8.6 per cent.
India's exports grow by 32.5 per cent to USD 20.6 billion in January 2011 India's exports grew by a healthy 32.5 per cent year-on-year to USD 20.6 billion in January, 2011 on account of increasing demand in the western markets. During April-January this fiscal, the country's shipments went up by 29.4 per cent to USD 184.6 billion. Imports in January, 2011 is estimated to increase by 13.1 per cent to USD 28.6 billion over the same period last year, leaving a trade deficit of USD 8 billion during the month under review. During April-January, 2010-11, imports rose by 17.6 per cent to USD 273.6 billion. Sectors that registered healthy growth during April-January, 2010-11 include gems and jewellery, engineering and petroleum and oil lubricants.
FDI in December 2010 up 30.6 per cent to USD 2 billion Snapping two months of declining trend, foreign direct investment (FDI) in India increased 30.69 per cent to USD 2 billion (about ` 9,000 crore) in December 2010 In
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