Shipping Corp Chairman says Baltic Dry Index fall due to slump in Chinese exports

In a statement released by the Chairman and Managing Director of Shipping Corporation of India, S Hajra, he revealed that the decrease in the Baltic Dry Index, which is trading 32% below against last year, was due to the plunge in exportation in China.

Kaushik Basu says fuel price upsurge to bring inflation rise by 0.9 percentage pts

In a statement released by the government’s Chief Economic Adviser, Kaushik Basu, he revealed that the increase in the cost of fuel is set to bring the core inflation every month to surge by 0.9 percentage points or 90 basis points.

India’s industrial production increases for the seventh straight month

According to the Managing Director of Thermax, MS Unnikrishnan, the industrial production of India increased for the seventh successive month until April which is greatly quicker than the anticipated rate at 17.6% as against 13.5% in the previous month in the same period last year.

Food, fuel price index improve until May 29 YoY

According to the figures revealed by the government this Thursday, the fuel price index surged 14.23% until May 29 in the same period last year as against the 14.14% recorded last week YoY. Moreover, the food price index expanded 16.74% versus the previous 16.55%.

Government targets selling of shares in 35 firms until 2015

In a statement released by Arun Yadav, the Minister of State for heavy trades and communal businesses, the government has been targeting to have shares sale in 35 nation-controlled firms until 2015 wherein around USD 32 billion is aimed to be accrued.

Direct tax receipts could surpass goal in FY11

India is optimistic about surpassing its goal for direct tax receipts for the current financial year which started last April. According to Pranab Mukherjee, the Finance Minister, the utilization of tax asylums was still considered a big test for worldwide scope.

Core mechanism of Japan orders surpass prediction in April

According to the chief economist at Barclays Capital Japan, Kyohei Morita, principal expenditure is apparently staving off as well as moving forward to enhancement. In addition to that, the core mechanism of Japan orders increased above the predicted figure last April.

13.5% increase in industrial production last April YoY predicted

According to the average prediction of 21 economic analysts, they believe that the industrial production of India could have increased 13.5% last April in the same period of the financial year 2009-2010 wherein the data was similar last March. Their predictions were in the range of 12.1% to 16%.

Kerosene costs to rise by Rs 6 per litre: Kirit Parikh

In a statement released by Kirit Parikh, he revealed that the Kirit Parikh Committee already proposed to free up the costs of petrol as well as diesel wherein kerosene cost will increase by Rs 6 every litre at the same time LPG costs will rise by Rs 100 every cylinder.

Electrical industry rebounds in FY10 with 11.25% growth

According to the figures shown by the Electrical and electronics Manufacturers’ Association or IEEMA, the industry expanded a historical high of 22% in FY07 but plummeted to a way below 2.73% in the financial year 2008-2009 due to financial crisis. However, it rebounded in last financial year with 11.25%.

Euro slides down to four-year low this Monday

According to the Head of FX Strategy Global Markets of Standard Chartered Bank, Callum Henderson, this Monday, the euro slid down to a four-year lows while stocks as well as commodities declined following a frustrating US employment figures and worry on euro zone debt troubles.

UN sees emerging economies in Asia to expand nearly 7% in 2010

According to Ajay Chibber, the UN Assistant Secretary General, the United Nations has been eyeing that the emerging economies to expand around 7% in 2010. However, a double-dip recession in the urbanized globe may possibly slice it utmost by one percentage point.

14% import duty on superficial gear may occur within 2 years

The recommended 14% import duty on superficial gear by the Planning Commission could possibly occur within two years time. This concern is aimed to be tackled in the 11th day of June by the Planning Commission, the Cabinet Secretary and the Power Ministry.

UCO Bank witnesses nearly 19.4% credit rise in FY10

According to the Chairman of UCO Bank, SK Goel, the firm already witnessed a 10% increase on the same period last month as well as starting April 1. Moreover, its shares observed more or less a 40% increase. The firm also witnessed nearly 19.4% credit rise in the last financial year 2009-2010.

Trade minister optimistic of 15% expansion in India’s export in FY11

According to the Trade Minister, Anand Sharma, India has been expecting to expand 15% in exports in the financial year 2010-2011. Moreover, the long-term goal for course of action is to make into twofold the proportion share of India in the international market ten years from now.

PM expects creation of National Social Security Fund

According to the Prime Minister Manmohan Singh, he already revealed the first year in office report card of United Progressive Alliance or UPA. Moreover, he is looking forward for the economy of India to expand at 8.5% in the financial year 2010-2011 and the creation of National Social Security Fund.

Manufacturing of India grows quickest in 2 years this May

The manufacturing industry of India grew last May which is the quickest pace in more than two years after declining in March and April. This growth resulted to stable increase in numbers, fresh orders as well as jobs. HSBC PMI soared from 57.2 in April to 59.0, a record high in the previous 27 months.

Exports, imports of India last April increase year-on-year

The exports of India last April increased a yearly 36% with a value of USD 16.9 billion which marked the sixth straight growth following 13 successive months of slump, according to the government. Moreover, the imports hiked 43% to USD 27.3 billion in the same period last year.

India expands with 8.6% GDP in Q4 FY10

The Indian economy expanded at its speediest pace in half a year in the quarter until March wherein 8.6% growth in gross domestic product or GDP was achieved in the quarter four of the financial year 2009-2010 year-on-year which almost hit the target of 8.7%.

10% economic increase yearly predicted by the Prime Minister

According to the statement made by the Prime Minister Manmohan Singh, he revealed that the government is looking forward to attaining an average period goal of 10% economic increase yearly after inflation of India exhibits indications of calming.