Slowing Economy, Bus Theft Jumps 63%

If you are a bus owner and you are reading this, you need to keep this is mind. Do not step away from your vehicle in Ahmedabad! Data released by National Crime Records Bureau (NCRB) shows that Ahmedabad had the highest number of buses stolen during 2012.   Not just that, bus theft as a … Continued

Modi model offers compelling alternative

Begin with the accomplishments of Gujarat. No doubt, the state saw strong growth even during the 1990s, before Modi became chief minister. But growth rate during that decade fluctuated wildly from year to year. The state’s economy also suffered a massive shock from the earthquake in 2000-01 , just before Modi became Chief Minister.   … Continued

Govt to roll out Rs 1 lakh crore PPP infra projects: PM

Prime Minister Manmohan Singh has set a target of rolling out PPP projects of at least Rs 1 lakh crore in the next six months.   After finalising the infrastructure targets for 2013-14, a steering group is being formed to monitor the award and implementation of projects like the Mumbai elevated rail corridor (Rs 30,000 … Continued

Gas price hike based on economic reality: Chidambaram

Stating that the decision to almost double pricing of natural gas is influenced by economic reality of the country, Finance Minister P Chidambaram said that declining and stagnant production of gas is not good for the economy.   “Decline in domestic production is resulting in rise in import of LNG, we have to produce more … Continued

The perfect recipe for an external debt crisis

The new numbers on the balance of payments released by the Reserve Bank of India (RBI) reveal the country’s unhealthy appetite for external debt.   According to RBI, India’s external debt stock at the end of March this year was $390.04 billion—an increase of $44.6 billion. In the normal course, for an economy of $1.8 … Continued

UPA on course to destroy more jobs with minimum wage law

If the recent jobs report put out by the National Sample Survey Office (NSSO) is any guide, the last thing the UPA government should be thinking of is tinkering with the labour market and damaging the remaining job prospects of young people.   The NSSO survey shows that unemployment rose more than 10 percent between … Continued

March quarter current account gap @ 3.6% of GDP

India’s current account deficit (CAD) for the March quarter was $18.1 billion, or 3.6% of GDP, which was lower than expected and below the $21.7 billion deficit a year earlier.   The current account gap for the full fiscal year ended March 2013 was $87.8 billion, which was 4.8% of GDP compared with $78.2 billion … Continued

Financial assets of Indians abroad at $447.8bn: RBI

The Reserve Bank of India said financial assets of Indian residents abroad stood at $447.8 billion as on March-end, posting an increase of $3.9 billion over the previous quarter, data from the RBI showed on Thursday.   International financial liabilities were at $755.1 billion as on end-March, up $31 billion over the previous quarter, the … Continued