สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 21 สิงหาคม 2555
Resurgent agricultural sector to have larger share in economy
A change in the national accounts, slated to take place sometime in the next two years, will show that a resurgent farm sector is now the second biggest contributor to the Indian economy, displacing manufacturing and financial services.
The current national statistics have 2004-05 as their base, which will be updated to 2010-11 or 2011-12 in the next revision. This means that GDP, the market value of goods and services produced in an economy in a year, will largely be based on price levels in these years.
If 2011-12 prices are used, agriculture will have a 17.3% share in the economy, much above the 13.9% accounted for by manufacturing and marginally ahead of financial services at 17%.
(Sources: Economic Times, Moneycontrol, Zeenews, Indiatimes)
Infrastructure projects completion in FY13 to rise 39 per cent: CMIE
Despite issues like delay in approvals, land acquisition and liquidity crunch posing challenges for the infrastructure sector, Centre for Monitoring Indian Economy (CMIE) today said that projects completion in FY13 could go up by 39 % over the last year.
According to CMIE, the aggregate value of completed projects for FY13 is expected to rise to $ 102.6 billion compared to $ 73.80 billion in 2011-12.
Projects worth nearly $ 160.20 billion are scheduled to get completed during July 2012-March 2013, the leading economic think tank said in its monthly report.
(Sources: Economic Times, Hindu Business Line, Zeenews, Indiatimes, IBNLive)
Yogen Fruz opens its first store in India at Kolkata
Yogen Fruz, the Canadian company which pioneered the frozen dessert and snack business, has made its foray into Indian market by opening its first outlet in Kolkata.
Yogen Fruz, which sells frozen yogurt has outlets in 1,400 locations in 30 countries across the globe and threw open its Kolkata outlet on Friday.
(Sources: Economic Times, Indiatimes, Hindu Business Line, IBNLive)
IndiGo emerges as the new market leader, offers better services to maintain its top position
It's now official that low-cost airline IndiGo is indeed the biggest beneficiary of Vijay Malaya-owned Kingfisher Airlines' slow death, as the young carrier has become the new market leader overtaking Jet Airways, but there are several reasons behind this feat.
IndiGo took over Jet Airways in terms of market share four months ago, but in July it took over the Jet Airways Group, which includes its low-cost arm JetLite, flying 27% of the total Indian passengers as opposed to 26.6% flown by Jet.
(Sources: Economic Times, Zeenews, IBNLive, Times of India, Indiatimes)
Sudden rain brings joy to farmers, eases power crisis
The late surge in monsoon rainfall has rejuvenated the rice crop, halved power rates in the overheated spot market, and filled up reservoirs to normal levels, calming fears of scarcity of food, water and electricity.
The situation is forecast to improve further this week, with heavy showers expected to narrow down the seasonal rainfall deficit, which has already halved from about 30% at the end of June to 16%.
(Sources: Economic Times, Indiatimes, Hindu Business Line, IBNLive)
Govt should come up with fiscal, monetary measures: CII survey
The Government should come up with measures with relation to fiscal and monetary policy to arrest downward spiral in industrial growth, which is likely to continue in the current quarter, according to a survey.
As per the CII-Ascon survey, which projected possible growth in 103 industrial sectors in the current quarter, said reduction in interest rates, faster implementation of GST (Goods and Services Tax), fast tracking of large projects, re- consideration of the retrospective amendments and GAAR are some of the steps that can improve growth prospects.
(Sources: Economic Times, Hindu Business Line, Zeenews, Indiatimes, IBNLive)
Economic Section
Royal Thai Embassy