Industry sees turnaround in economy
India Inc today saw signs of turnaround in the economy with the GDP showing a growth of 6.1 per cent in the first quarter of the fiscal 2009-10. - Sejal Architectural to invest Rs 1,500 cr in float glass industry - Ford to launch small car in 2010 - PM to chair Inter-State Trade Council meet next month - Cipla to raise Rs 1,500 cr by issue of shares - IRB Infra bags Rs 800-cr road project from NHAI - Hero Honda to upgrade its models to meet BS-III norms On the release of GDP data, leading business chambers said the worst was behind the global economy. "With global recession bottoming out we expect sectors such as trade, hotels, transport, communication and manufacturing to accelerate the pace of growth in the coming months," Ficci said. It said the growth on sequential basis from 5.8 per cent in the fourth quarter of 2008-09 to 6.1 per cent in first quarter of the current fiscal "is an indication of a turnaround in the economy". It said the economy was showing improvement despite weak performance of the agriculture sector. "The stimulus measures taken by the government are yielding results on the ground and there is clear case for continuing these for some more time," Ficci President Harsh Pati Singhania said. He expected the economy to grow by 6.5 per cent in the current financial year. Assocham said it would not be correct to compare the performance of the economy this fiscal with last year, given the current economic scenario in which "demand creation is still a challenge". Assocham said the economy would gradually bounce back as sectors like steel and real estate have started picking up. CII said the timely intervention of the government through fiscal and monetary measures are helping the economy recover from the global crisis. "The GDP numbers indicate that the economy has bottomed out," CII Director General Chandrajit Banerjee said. However, it added that the government"s borrowing programme has hardened bond yields.payday loans 300 commented:
This is because of the changes which are prevailing in the economy
07.09.2011
payday loan commented:
Great information it is. I enjoyed this post.Thanks for such post.
07.11.2011
Fund Administration Asia commented:
This all is happening just because of the European nation.their wealth is very low so normally our business will be hampered by this.
10.11.2011
Payday loans commented:
Such ups and downs are results of economic crisis we just faced.Great updating information it is.Thanks for such post.
10.11.2011
Payday loans commented:
Such ups and downs are results of economic crisis we just faced.Great updating information it is.Thanks for such post.
10.11.2011
Multi Family Offices Asia commented:
The slowdown in economy has made it a bit tough for even asian countries and the impact is just visible,but hopefully they will end soon.
12.11.2011
Mortgage Specialist commented:
As the european zone is underwater the asian specially China and india are do so much progress and the GDP is enough to tell the story.There is lot more invetment to be done.
26.12.2011
Goa Escorts commented:
That’s an amazing blog to look over, I would say that the blog creates the interest about the car racing, this is too good.
03.01.2012