New Delhi: As India slipped three notches on United Nations’ competitive industrial performance assessment, chief economic adviser Arvind Virmani said on Sunday such reports look interesting but should be based on hard facts as well.
“I don’t really know what is the basis of these things, what I do know is that there have been serious economists who question these (reports),” Virmani said. “As an analyst one needs hard data which is consistent and replicable. When you take people’s opinion what they are thinking.”
For example, when you ask people about their exports when exports have gone down in the last three months, they expect exports to go down in the next six months or next year, so these subjective opinions are not something which an analyst can go by,” he said.
Manufacturing sector to pick up growth in FY10
Mumbai: Growth in the manufacturing sector is expected to pick up in the second half of FY10 on the back of improved economic conditions and recovery, economic think tank Centre for Monitoring Indian Economy (CMIE) said in its report.
“We expect the manufacturing sector to report a healthy growth in net sales and a sharp growth in profits in the last two quarters of 2009-10,” CMIE, said in its recent report released here.
It said the growth would be driven by the further improvement in India’s economic conditions.
164,000 potential jobs lost due to project delays
New Delhi: Eighteen big projects in sectors such as steel and power could have created jobs for 164,000 people if these did not face bottlenecks in land acquisition and environmental clearance, industry body Assocham said on Sunday. The projects, which are stuck in the procedural hassles for the last four years include Posco and Maindra and Mahindra’s joint venture in Chennai with Renault and Nissan, Assocham said.