 |
The overall growth of gross domestic product (GDP) at factor cost at constant prices, as per Advanced Estimates, is projected at 6.9 per cent in 2011-12. The growth in real GDP is placed at 6.1 per cent in the third quarter of 2011-12. |
|
Overall growth in the Index of Industrial Production (IIP) was 4.1 per cent in February 2012. During April-February 2011-12, IIP registered a growth of 3.5 per cent. Eight core Infrastructure industries grew by 6.8 per cent in February 2012 as compared to 6.4 per cent growth in February 2011. During April-February 2011-12, these sectors grew by 4.4 per cent. |
|
Foreign institutional investors (FIIs) made a net investment of Rs 322 crore (US$ 62.33 million) in the equity market upto April 13, 2012, according to data released by the Securities and Exchange Board of India (SEBI). During January-March 2012, net inflows stood at around Rs 44,000 crore (US$ 8.52 billion). |
|
The Union Ministry of Finance has paved the way for the implementation of relaxed External Commercial Borrowing (ECB) norms announced in the Union Budget 2012-13 for the aviation sector. ECBs under this provision would have a ceiling of US$ 1 billion for the sector. |
|
The Government is formulating a special incentive package to encourage local manufacturing of electronic goods. The package includes reimbursement of indirect taxes, and a subsidy of 20 per cent on capital expenditure made by high-tech manufacturers in Special Economic Zone (SEZ) units. |
|
Government of India plans to sign a free trade agreement (FTA) with Pakistan, to explore fresh trade options. The Indian textile industry is looking forward to an FTA with Pakistan as it will help them to import long staple cotton from Pakistan. |
|
The Union Ministry of Finance has begun implementing the Budget proposals on External Commercial Borrowings (ECBs) for capital needs of the power and roads sectors. Power companies have been allowed ECBs to finance their rupee debt up to a maximum of 40 per cent. |
|
The Securities and Exchange Board of India (SEBI) has joined hands with Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority (IRDA) on common know-your-customer (KYC) norms for the financial sector. One KYC with any one of the KYC registration authorities would suffice for all transactions across the financial sector. |