indian finance minister growth could fall to below 7
Last Updated : GMT 18:08:33
Arab Today, arab today
Arab Today, arab today

Indian Finance Minister: Growth could fall to below 7%

Arab Today, arab today

Arab Today, arab today Indian Finance Minister: Growth could fall to below 7%

New Delhi - Irna

India’s Finance Minister Pranab Mukherjee Tuesday said the growth rate could fall below 7 per cent in the current financial year from 8.5 per cent a year ago. \'...we have difficult 2 -3 months in the current fiscal. Our growth for 2011-12 may be around 7 per cent plus or even less than that. There are also concerns about central government finances for the current fiscal\', he said while speaking at the CNBC TV18 Business Leadership award function. He, however, expressed hope that the Reserve Bank would take appropriate steps in its forthcoming monetary policy review on January 24 to keep the growth momentum. \'Going forward, I am sure RBI will take into account important concerns of balancing the targets of controlling inflation and keeping up growth and employment generation,\' he said. The economic growth during the first half of the current fiscal has slipped to 7.3 per cent from 8.6 per cent in the corresponding period a year ago. On fiscal deficit, he said the performance during the first half of 2011-12 poses some risks on both receipts as well as expenditure. \'Adhering to the fiscal deficit target of 4.6 per cent of GDP in 2011-12 is a major challenge,\' he said. The government proposes to bring down the fiscal deficit in the current fiscal to 4.6 per cent of the GDP from 4.7 per cent a year ago. However, the surge in subsidy bill and poor realisation from disinvestment has made the task difficult. Meanwhile, the subsidy bill of the government is likely to exceed by about Rs 1 lakh crore during 2011-12. As far as disinvestment is concerned, the government has been able to mop up around Rs 1,100 crore only against the target of Rs 40,000 crore, pti r eported quoting official estimates. Referring to the price situation, Mukherjee said inflation, which has come down to 7.47 per cent in December from 9.11 per cent a month ago, would further moderate in the coming months. \'There are some clear signals of inflation moderating in the coming months. I am expecting it (inflation) to be in the range of 6-7 per cent by end March,\' he said. The improvement in index of industrial production (IIP) numbers and inflation situation, he added, \'indicates some improvement in the overall economic parameters in second half for 2011-12. \'I hope to see this trend get consolidated in the coming months with some policy correction. India\'s growth fundamentals are strong and they look more attractive in a world challenged by problems of confidence and lack of growth,\' he added. Attributing the rupee depreciation to global factors, he said, the pressure on the domestic currency was likely to continue until some solution is found to the sovereign debt problem of the eurozone countries. \'There has been a moderation in the level of foreign institutional flow and this has resulted in declining equity indices and a sharper depreciation of rupee in forex market\', the Minister said. Rupee depreciation, he added, was also being driven by global factors and \'the pressure would continue until there is a solution to sovereign debt problem in eurozone.\' The Indian currency has depreciated by over 16 per cent against US dollar in the current financial year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indian finance minister growth could fall to below 7 indian finance minister growth could fall to below 7

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indian finance minister growth could fall to below 7 indian finance minister growth could fall to below 7

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Jordanian journalist happy of her career

GMT 17:37 2017 Thursday ,23 November

Jordanian journalist happy of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday