Economic Times: Growth pegged at 7.2%, Centre looks to unwind
Data from the government’s statistics arm showed on Monday that the economy is on track to meet growth projections for the fiscal to March 2010, setting the stage for gradual unwinding of the fiscal stimulus measures that were put in place to counter the slowdown.
Hindustan Times: Recovery on track: GDP to grow at 7.2%
India’s gross domestic product (GDP) — the total income of all economic entities in the country — will grow at 7.2 per cent in 2009-10, an official forecast said on Monday, confirming signs of a turnaround amid worries about the drought-hit farm sector.
Business Line: Food inflation: Onus wholly on Centre
Though the Conference of Chief Ministers on soaring food prices convened by the Prime Minister, Dr Manmohan Singh, at New Delhi on February 6, at times predictably degenerated into a hunt for scapegoats, with everyone pointing fingers at everyone else, it also provided an opportunity for heart-searching and fresh thinking. In that sense, it certainly was a worthwhile effort to arrive at a consensus for concerted action to meet a serious challenge confronting the nation.
Economic Times: SEZ tax relief likely to stay even in new tax regime
The government is likely to clarify in the budget that special economic zones or SEZs would continue to enjoy tax benefits in their current form even after the proposed direct taxes code is implemented, providing clarity over taxation of these special enclaves.
Economic Times: Budget 2010 needs Pranabda’s banlancing act
Finance minister Pranab Mukherjee will need to do some tightrope walking when he presents Budget 2010 on the 26th. On one hand, he has to ensure that the country returns to the path of fiscal consolidation and, on the other, that economic recovery is not stymied.
Business Line: CSO pegs 2009-10 growth at 7.2% on industrial progress
A lower-than-expected decline in agricultural output, and a robust recovery in industrial performance have led the Central Statistical Organisation (CSO) to peg the GDP growth estimate for 2009-10 at 7.2 per cent, substantially higher than the 6.7 per cent growth recorded in 2008-09.