‘India will maintain 7 percent growth’

October 11th, 2009 CHENNAI - The four government-owned non-life insurers - National Insurance, New India, Oriental Insurance and United India - have posted a combined business growth of 10.55 percent for the first half this fiscal. "The four companies earned a total premium of Rs.9,991.18 crore during the period, up from Rs.9,059.3 crore earned during the first half of 2008-09," J.

October 9th, 2009 KOLKATA - Pronab Sen, chief statistician and secretary in the ministry of statistics and programme implementation, Friday stressed the need to review the present population policy keeping in view the recent fall in population growth. "Population growth has come down to 1.63 percent from more than 2 percent.

August 31st, 2009 NEW DELHI - India registered a 6.1 percent economic growth during the first quarter of this fiscal (April-June), even as the manufacturing sector's output expanded by a relatively lower rate of 3.4 percent, official statistics said Monday. The farm sector registered a 2.4 percent growth during the period under review, while services industries logged the maximum expansion of over 8 percent, showed the data on national income released by the Central Statistical Organisation (CSO).

August 31st, 2009 NEW DELHI - India managed a reasonable economic growth of 6.1 percent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and services sectors. Country's Gross Domestic Product (GDP) growth rate during April-June 2009 at 6.1 percent was higher than 5.8 percent in the previous quarter.

August 13th, 2009 NEW DELHI - Global rating agency Standard & Poor's (S&P) Thursday raised India's growth forecast for the current fiscal from 5.8 percent to 6.3 percent taking into account the improving performance of the industrial sector. "If yesterday's number (industrial production figures released Wednesday) is anything to go by, credit offtake in the coming days would be much better than we have anticipated earlier," said Subir Gokarn, chief economist at the Indian arm of S&P.

July 8th, 2009 IMF raises Asia 2009 growth forecastBEIJING — The International Monetary Fund has raised its 2009 growth forecast for Asia's developing economies from 4.8 percent to 5.5 percent but cautioned that a sustained rebound will depend on recovery in developed economies. The Washington-based cited improved prospects for regional giants China and India.

July 2nd, 2009 NEW DELHI - The automotive industry in India grew at a computed annual growth rate (CAGR) of 11.5 percent over the past five years, the Economic Survey 2008-09 tabled in parliament Thursday said. The industry has a strong multiplier effect on the economy due to its deep forward and backward linkages with several key segments of the economy, a finance ministry statement said.

June 30th, 2009 KOLKATA - The state-run Corporation Bank is planning to raise Rs.1,000 crore this fiscal, a top official said here Tuesday. "This year we have already raised Rs.1,000 crore and we are planning to raise another Rs.1,000 crore through tier I perpetual bonds or tier II capital," J.M.

June 23rd, 2009 KOLKATA - Life Insurance Corp of India (LIC), the country's largest life insurer, is targeting 20 percent growth in premium this fiscal, a top official said here Tuesday. "Last year we have received total premium of Rs.155,000 crore.

February 11th, 2009 NEW DELHI - Fresh data released Thursday showed India's industrial output declined in December, but two key cabinet members said the country's economy would register a fast growth of around 7 percent. 'I am proud to say that in 2008-09 India will still grow by 7 percent,' said External Affairs Minister Pranab Mukherjee while addressing the 81st annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI).

February 11th, 2009 NEW DELHI - The Indian economy will grow by 7 percent this fiscal even as recent projections by global agencies like the International Monetary Fund (IMF) say that advanced countries' economies would shrink by 2 percent, Minister for External Affairs Pranab Mukherjee said here Thursday. 'I am proud to say that in 2008-09 India will still grow by 7 percent,' said Mukherjee while addressing the 81st annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI).

February 8th, 2009 NEW DELHI - The Indian economy is expected to log its lowest growth in six years and fall to 7.1 percent for the current fiscal, against 9 percent in the previous year, as per official projections on national income released here Monday. The estimates, compiled by the Central Statistical Organisation, said growth figures for all the three main components of the national income, namely agriculture, manufacturing and services, were expected to fall during the current fiscal.

January 26th, 2009 MUMBAI - India's central bank decided to maintain status quo on key rates and lowered the country's growth target for this fiscal to seven percent as it presented the third quarter review of its monetary policy here Tuesday. The benchmark bank rate, the repurchase rate, the reverse repurchase rate, the cash reserve ratio (CRR) and the statutory liquidity ratio (SLR) were all kept unchanged by Reserve Bank of India (RBI) Governor D.

January 16th, 2009 NEW DELHI - The Indian economy is now projected to grow between 7 and 7.5 percent in the current fiscal, a top official said here Saturday. 'With the presence of strong domestic demand stimulus, India is expected to maintain a strong pace of economic growth despite continuation of global recession,' Ashok Chawla, secretary of the department of economic affairs, said in his inaugural address at the third India China Financial Dialogue.

January 7th, 2009 CHENNAI - Prime Minister Manmohan Singh Thursday said the Indian economy will expand by seven percent this fiscal and remain among the fastest growing in the world, as its fundamentals remained strong despite the global meltdown. 'Despite the global economic downturn, the fundamentals of our economy continue to be strong,' the prime minister told delegates to the seventh edition of the Pravasi Bharatiya Divas - the country's annual conclave to connect with its diaspora.