Archive for November, 2010

Two-wheelers to go run on gas

November 29, 2010 Leave a comment

The Minister of State fort Petroleum and Natural Gas Shri Jitin Prasada has said that Compressed Natural Gas( CNG) driven two wheelers would soon see the light of day.

click here for the release:

Categories: Automobiles, Natural Gas

September 2010 Quarter Financial results

November 24, 2010 Leave a comment

“The deceleration in the country’s industrial production growth is a cause of concern, but whether it actually indicates the slowing of the growth momentum is yet to be ascertained”, said the RBI Deputy Governor, Dr Subir Gokarn.

India’s Index of Industrial Production grew at 4.4 per cent in September 2010. This has led to a number of people speculating whether the slowdown in India’s growth has begun. Read more…

Commonwealth Games impact on Tourism

November 18, 2010 Leave a comment

October 2010 was expected to be a cheerful one for the tourism industry as Commonwealth Games (CWG) 2010 was scheduled for the month. According to a tourism ministry statement in September, “about four lakh foreign tourists are expected to visit Delhi during the 12-day Commonwealth Games.” However, only 75,606 foreign tourists arrived in New Delhi during the CWG fortnight October 1-14, according to immigration authorities at the Delhi airport.

The tourism ministry said the number of foreign tourist arrivals (FTAs) to New Delhi had increased by over 5% during the Games. However, this 5% figure is lower than the national average increase in FTAs of 9.2% in October.

Read more…

Categories: Tourism

Food Processing Industry in India

November 18, 2010 Leave a comment

The Union Minister for Food Processing Industries Subodh Kant Sahai has said that India is set to witness the next revolution in Food Processing Industry. The Centre has set an investment target of rupees one lakh crore by 2015 in the sector. The sector is expected to grow by 20% and value addition to increase by 35% by 2015. Food Processing Industry is a potential source for driving the rural economy and is of great importance to an agrarian economy like India. – Source: PIB

Here’s a brief note on the Indian Food Processing Industry..

Read more…

Petroleum Refining Capacity in India as on Oct’10

November 18, 2010 Leave a comment

The petroleum refining capacity in India has risen to 196.38 Million Tonnes Per Annum (MTPA) as on  1 Oct 10 from 184 MTPA in April, 2010.

Another 6 MTPA capacity (by BPCL & Oman Refinery) is expected to be added during the curren financial year 2010-11.

For details on greenfield refineries being set up in Public and Private Sector, click here.

Steel Projects in India: Updates

November 18, 2010 Leave a comment

nearly 222 Memorandum of Understanding (MoUs) have been signed by various State Governments for setting up various steel units in their respective states for total capacity of approximately 276 million tonnes.

While a project by Posco in Orissa is still facing hurdles regarding clearance from the environment ministry’s forest advisory committee, it is included as a part of the proposed projects. 

PIB gives a brief overview of the proposed steel projects. Click to read

Categories: Metals

Direct Tax Collections in India: Well above target

November 12, 2010 Leave a comment

A healthy growth in profits of India Inc is well reflected by a robust 25.4% growth in corporate tax collections in October 2010 to Rs11,818 crore (Rs9,424 crore in October 2009). This resulted in cumulative growth in corporate tax of 22.1% in April-October 2010.

It must be noted that direct tax collections during April-October 2009 had risen by only 3.9%, mainly on account of a global slowdown. Thus, growth for the current period has a cushion of the low base in the previous year. Read more…

Categories: Economic Growth, Taxation