Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Govt for more steps to turnaround economy: FM
Last Updated : 14 Dec 2012 01:55:38 PM IST
Fresh steps to revive economy: FM
Fresh steps to revive economy: FM
 

Finance Minister P Chidambaram said the govt will take some more steps to revive the economy.


"I am confident that the steps we have taken, and some more steps that we will take in the next few weeks, will help turn the Indian economy around," he said addressing the 'Delhi Economics Conclave'.

In the recent past, government has taken a number of measures, including opening up of FDI in multi-brand retail and hiking foreign investment cap in the aviation sector, to boost economic growth and restore investor confidence.

Besides yesterday, the Union Cabinet cleared setting up of Cabinet Committee of Investment to fast-track large project entailing investment of over Rs 1,000 crore.

"It is too early to say whether the measures have begun to bear fruit, although it is our expectation that they will do so," Chidambaram said.

Concerned over sticky retail inflation, the Minister said: "There is no reason at all to become complacent".

While headline inflation has moderated to 7.45 per cent in October, the retail inflation remains high at 9.90 per cent.

The economic growth in the first half of the fiscal fell to 5.4 per cent, against 7.3 per cent in the corresponding period a year ago. The growth in 2011-12 fell to a nine-year low of 6.5 per cent. In the current fiscal RBI expects it to be around 5.8 per cent.

Stressing that the present challenge is different from the one faced in 2008, Chidambaram said: "The present challenge calls for bold and innovative measures".

While in 2008-09 imports had reduced considerably due to fall in international crude oil prices, the situation at present is different as, while exports are declining, imports continue to remain high mainly on account of crude and gold.

He said with rapid globalisation of economy, external sector is becoming more vulnerable.
   
The Finance Minister also asked Asian G20 member nations and Russia to increase resource base of Asian Development Bank for development of the region.
 


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

super luxury car maker Rolls-Royce is gearing up to tap the country's Billionaires with ne

Coming-of-age drama 'Boyhood' won three of the biggest awards at the BAFTA 2015 but it was

Sunny Leone is seen scorching the screen in the first look of Leela with her bold acts.

Samsung unveiled the Galaxy S6 and Galaxy S6 Edge at Mobile World Congress in Barcelona, S

Reality TV star Kim Kardashian reportedly wants Beyonce to buy a house in her gated commun

Automaker Renault India today said it will roll-out a multi-purpose vehicle 'Lodgy' and a

Pharma tycoon Dilip Shanghvi surpassed Mukesh Ambani as the world's richest Indian with a

When Holi is round the corner, can anyone forget all-time hit Bollywood songs?

In an interim order, the Bombay High Court has restrained the city police from arresting o

Good news for the fans’ of Salman Khan and Deepika Padukone.

Reality TV star Kim Kardashian has posed nude for the upcoming 10th season of 'Keeping Up

Bollywood superstar Akshay Kumar and Actress cum Entrepreneur Shilpa Shetty Kundra have pa

Kashmir witnessed season's heaviest snowfall as the arterial Jammu-Srinagar National Highw

Mexican actress Stephanie Sigman has joined Monica Bellucci and Lea Seydoux as the new bon

Luxury carmaker Mercedes-Benz launched the all-new compact B-Class in both petrol and dies

Bollywood actor Poonam Pandey, gets relief as a local court in Bengaluru quashed a case pe

Automaker Renault India launched the new generation Duster priced at Rs 8.30 lakh (Delhi e

Now Bollywood A-list actors are competing to get nude on-screen.

The 2015 edition of the International Indian Film Academy Awards is set to enthrall Bollyw

India defeated Zimbabwe by six wickets chasing 288 runs target in World Cup Match.

Actress Priyanka Chopra has expressed her displeasure over the Christmas clash between her

A Hong Kong woman was sentenced to three-and-a-half months in jail on Thursday after a cou

If these images are to be believed, we would be seeing a couple of design innovations that


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.54