07nd Dec –
• Chairman of McNally said that they recently bagged a landmark Rs 120 crore order which will mark the company’s entry into the road sector. The Company also bagged a smaller order worth Rs 20 crore for extension of a material handling plant which was set up earlier.
08th Dec -
• The food inflation sharply eased to 6.60% in the year to Nov 26, government data on Thursday showed, from an annual 8.00% in the previous week. The annual fuel inflation remained unchanged at 15.53% in the latest week, data showed. The primary articles price index was up 6.92%, compared with an annual rise of 7.74% in the prior week.
09th Dec -
• Finance Minister Pranab Mukherjee said that surging food and fuel prices amid weak global economic growth are adversely impacting GDP growth of the country. Business sentiments are down. Food inflation and high fuel costs in times of weak global growth are taking a heavy toll on the economies of many emerging countries, including India.
12th Dec –
• Index of Industrial Production (IIP) recorded a de-growth of 5.1% in October 2011, relative to the 11.3% growth in October 2010, extending the slowdown in industrial growth witnessed in the recent months (9.5% in June 2011, 3.7% in July 2011, 3.6% in August 2011 and 2.0% in September 2011).
13th Dec –
• Parliament's Standing Committee on finance has opposed the government's proposal to hike the FDI limit for insurance companies to 49%. The house panel's report, which was tabled in parliament today, says that the panel cannot support FDI hike in insurance.
17th Dec –
• Against the food subsidy budget of Rs 60,572 crore for the current fiscal, the government has already released Rs 45,125 crore towards it by December 15. The food subsidy bill was Rs 62,929,56 crore in 2010-11 and Rs 58,242.45 crore in the previous fiscal, Food and Public Distribution Minister K V Thomas said in during the Question Hour.
21st Dec -
• Ratings agency Moody's on Wednesday unified India's local and foreign currency bond ratings at Baa3 and said the outlook on the ratings was stable
22nd Dec –
• Tractor India's July-September quarter (Q2) gross domestic product (GDP) grew 6.9%, slowest growth in nine quarters. The economic deceleration is expected to continue in October-December quarter (Q3), says Montek Singh Ahluwalia.
23rd Dec –
• India's inflation is expected to ease to between 6 and 7% by March, Finance Minister Pranab Mukherjee said on Friday, a day after data showed a sharp easing in food inflation.
24th Dec –
• The country's foreign exchange reserves fell by a whopping USD 4.67 billion to USD 302.1 billion in the week ending December 16 on the back of a dip in foreign currency assets, the Reserve Bank said here today.
26th Dec –
• India's infrastructure sector output grew 6.8% in November from a year earlier, sharply higher than the annual growth of 3.7% in November last year, government data showed on Monday. During April-November, the first eight months of the current 2011/12 financial year, the output rose 4.6%, compared with an annual rise of 5.6% a year ago, data showed. The infrastructure sector accounts for 37.9% of India's industrial output.
27th Dec –
• The union government's decision to sell Rs15000 crore of bonds on December 30 in an unscheduled auction will not increase its overall market borrowing for the second half of this fiscal year, a senior government official with direct knowledge of the matter told Reuters on Monday.
28th Dec –
• The food inflation eased to 0.42%, its lowest in nearly six years at least, and fuel inflation slowed to 14.37% in the year to December 17, government data on Thursday showed. In the previous week, annual food and fuel inflation stood at 1.81% and 15.24%, respectively. The primary articles price index was up 2.70%, compared with an annual rise of 3.78% a week earlier. India's headline inflation has stayed above 9% for a year, despite 13 rate increases by the central bank since March 2010.
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