สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 19 กุมภาพันธ์ 2556
CCEA likely to take up IKEA investment proposal soon: Anand Sharma
The Cabinet Committee on Economic Affairs (CCEA) is likely to take up Swedish home furnishings retailer IKEA's $ 1.94 billion investment proposal soon, Commerce and Industry Minister Anand Sharma said today.
Though the world's largest furniture maker had received the FIPB approval earlier, this as well as fresh proposal from the Swedish retailer that was subsequently cleared will have to be approved altogether.
FIPB can clear investment proposals worth up to$ 222 million. As IKEA's planned investment is higher than this, the proposal has to be cleared by the Cabinet.
CCEA will now have to a clear the total proposals of $ 1.94 billion of the Swedish company which includes stores and cafeterias.
(Sources: Economic Times, Indiatimes, Business Standard, Hindu Business Line, Zeenews, i4u)
Two-day central trade unions strike may cost economy USD 2.8 - 3.7 billion: Assocham
While sharing some of their concerns like rising prices, Assocham on Tuesday appealed to the central trade unions to call off their two-day strike as the country's economy will take a hit of big hit of USD 2.8 - 3.7 billion from the nation-wide disruption in economic activity.
The Assocham has estimated the national loss figures based on the daily erosion of about 30-40 per cent to the country's Gross Domestic Production (GDP) for two days.
(Sources: Economic Times, Indiatimes, One India News, Yahoo News, i4u, Worldnews)
India needs to reduce regulatory uncertainty to boost growth: OECD
Bringing down FDI barriers and reducing regulatory uncertainty to attract more private investments will help boost India's economic growth, according to OECD, a Paris-based body.
Suggesting various measures to boost India's growth, OECD has said there should be further reforms in the financial sector such as promoting entry of new private banks and establishing a plan to phase out priority lending.
India is expected to see a growth rate of 5-5.5 % in current fiscal.
The Organisation for Economic Cooperation and Development (OECD), a grouping of mostly rich countries, said in a report released here that "trade and FDI (Foreign Direct Investment) barriers remain high in some key sectors, impairing productivity improvements".
(Sources: Financial Express, Zeenews, Business Standard, Economic Times, Indiatimes, Daily Pioneer)
Goa bans set up of liquor, tobacco units in industrial estates
The Goa government has decided to put a moratorium on allowing tobacco and liquor manufacturing units in its industrial zones, a senior official said today.
The State Investment Policy, which is also known as Industrial Policy, will ban the sale of industrial plots in its estates to units manufacturing tobacco products and liquor, F O Hashmi, Director of Industries, told reporters here.
He said that there would be a complete ban on setting up of such industries in the state's industrial zones. There are 20 industrial estates developed by the state government.
The Goa Industrial Development Corporation's regulations which were notified in September last year had banned such units in its estates, he said.
(Sources: Economic Times, Indiatimes, Indian Express, i4u, Moneycontrol, India Everyday)
Mercedes-Benz raises India investment to $ 157 million
Luxury car major Mercedes-Benz India has raised its investment to $ 157 million as part of the expansion plan of its factory at Pune, Managing Director and CEO Eberhard H Kern said.
Kern told reporters here today that India has become the second market outside the US to start local production of M-class SUV.
He said that the company would focus upon customer experience and "after-sales delight" in eastern India.
The move was part of the strategy to reinforce its footprint in the region where dealership in Bhubaneswar was already operational and that in Jamshedpur was on the anvil, Kern added.
(Sources: Economic Times, Indiatimes, Indian Express, Financial Express, Business Today, NDTV)
Akhilesh Yadav presents deficit budget for UP
Uttar Pradesh Chief Minister Akhilesh Yadav today presented a $ 4.42 billion deficit budget for the state for 2013-14 at $ 40.97 billion.
The budget tabled in the assembly showed a 10 % increase from the last year's size of $ 37.07 billion.
While no new tax has been imposed in the budget, the fiscal deficit has been estimated at $ 4.42 billion – 2.9 % of the gross domestic product (GDP).
The government has estimated revenue receipts at $ 40 billion and revenue savings at $ 1.82 billion for the next financial year.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Hindustan Times, Business Standard)
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