India will see signs of recovery this fiscal: Rangarajan

October 12th, 2009 NEW DELHI - India's industrial recovery is well on track and the manufacturing output would expand by 7.5-8 percent this fiscal, a key economic adviser of the government said here Monday. "I think that the industrial production number clearly indicates that industrial recovery is well on the way," Prime Minister's Economic Advisory Committee Chairman C.

October 12th, 2009 NEW DELHI - Further signs of recovery in Indian industry emerged Monday with the latest official data indicating a growth of 10.4 percent in industrial production during August this year - highest in the last 22 months - over the corresponding month last year. The index for industrial production (IIP) grew 10.4 percent in the month, as per the data released by the Central Statistical Organisation here.

October 5th, 2009 NEW DELHI - India's economy will grow at 6.3 percent this fiscal as per prediction, while inflation would remain under 5 percent, according to Planning Commission Deputy Chairman Montek Singh Ahluwalia. "The GDP (gross domestic product) would be at 6.3 percent by the end of this fiscal, as predicted, but could be even better given the signs of economic recovery," Ahluwalia said here Monday.

September 18th, 2009 NEW DELHI - With the macro economic situation improving and capital markets doing better, India's job market, hit badly by the slowdown last year, has started showing signs of recovery, industry experts said here Friday. "The market is improving.

September 17th, 2009 HYDERABAD - Interests rates may marginally increase towards the end of the current fiscal as the economic situation is improving and demand is picking up, Prime Minister's Economic Advisory Council Chairman C. Rangarajan said here Thursday.

August 4th, 2009 MEXICO - Mexican President Felipe Calderon has said there were signs of recovery of the country's economy, and described the world economic crisis as a perfect storm, Prensa Latina reported Tuesday. Calderon made the comments Sunday and added that despite the fact that the economic crisis has led to a reduction in 10 percent of the gross domestic product, there are already some signs of recovery, such as the creation of 20,000 jobs in June.

July 28th, 2009 India central bank says economy could grow fasterNEW DELHI — India's central bank left interest rates unchanged Tuesday and said Asia's third-biggest economy could grow faster than forecast as it emerges from the global credit bust. Bank Gov. D. Subbarao said "the global economy was showing incipient signs of stabilization, albeit not recovery." The central bank said there is now "an upward bias" to its forecast for the economy to grow 6 percent in the year ending March 2010.

July 28th, 2009 NEW DELHI - The Reserve Bank of India (RBI) on Tuesday kept the key rates unchanged and said that there are progressive signs of recovery with positive industrial production and optimistic business confidence. The RBI left its lending rate steady at 4.75 per cent, its lowest in nine years, and its reverse repo rate, at which it absorbs surplus cash from the banking system, unchanged at 3.25 per cent.

July 14th, 2009 NEW DELHI - The government is determined to bring the fiscal deficit under control, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Tuesday. Addressing economists at a seminar organised by the India Policy Forum, he said the fiscal stimulus provided by the government had put a burden on the deficit but the package was necessary in the given economic scenario.

July 10th, 2009 NEW DELHI - India's industrial production registered 2.7 percent growth in May - the highest since September last year - signalling economic recovery, fresh data showed Friday. The index of industrial production (IIP) had expanded by 1.4 percent in April, signalling the early signs of recovery.

July 6th, 2009 NEW DELHI - Former Reserve Bank of India (RBI) governor C. Rangarajan said Finance Minister Pranab Mukherjee's union budget presented in parliament Monday was a difficult balancing act.

June 16th, 2009 TORONTO - The worst is over for the global economy and a recovery is likely to begin later this year, says a bank report released here Monday. The global economic crisis has bottomed out and positive indicators have begun to emerge, said the report by the Royal Bank of Canada which is the top bank in the country.

June 8th, 2009 NEW DELHI - Despite signs of an improving economy, India Inc feels actual recovery will happen only after September, a survey by the Confederation of Indian Industry (CII) has found. According to the survey, conducted by the CII northern region, 96 percent of respondents believe a turnaround would happen only in the second half of 2009-10, thanks to the ongoing global slowdown The survey found 72 percent of respondents expecting the economic growth to be in the range of 5-7 percent this fiscal.

May 15th, 2009 BANGALORE - India may expand at a slower pace in the current financial year that began in April than initially thought and there are more rate cuts in the pipeline, a survey of 17 forecasters conducted by the central bank showed on Thursday. The survey is conducted by the Reserve Bank of India (RBI) every quarter since September 2007 and does not reflect its views.

May 14th, 2009 BANGALORE - Reserve Bank of India (RBI) governor D. Subbarao Thursday said some sectors of the economy were showing signs of recovery even as the pace of decline in certain areas has started to moderate.