A survey carried out by the Federation of Indian Chambers of Commerce and Industry has specified that it is the select service sector segments, which have recorded a 10-20 per cent growth during April to November this year, while the country’s manufacturing sector had to experience a low ride.
The annual Wholesale Price Index-based inflation rate declined marginally to 6.61% for the week ended December 13. It stood at 6.84 per cent in the previous week. The decrease in inflation rate brings respite for the apex bank and the Union Government who are endeavoring to stabilize prices in the market.
The recent decline is mainly due to excise duty cut on various manufacturing products and decline in prices of petroleum products. The government had cut the central value-added tax on manufactured items by four percentage points on December 7 as part of an economic stimulus package.
Indian economy would grow at 7-8% as per mid-year economic review, presented in Lok Saba by the Minister of State for Finance, Mr. Pawan Kumar Bansal. Global factors, such as slowdown and financial crisis would impact the Indian economy to a significant extent despite various measures taken by the apex bank and the government to mitigate its impact. Post August period has adversely hit the Indian equity and the foreign exchange markets besides debt and credit markets.
On Friday, Rupee fell by 31 paise against the dollar to close at 47.26/27 in the midst of cuts in interest rates as inflation has declined to a nine-month low.
The trade, which was fairly active, showed that the domestic currency started at 47.20/22 a dollar and later fluctuated between 47.36 and 46.86 on alternate bouts of dollar buying and selling during the day. Yesterday the rupee had closed at 46.95/96 a dollar.
Since the global slowdown will continue in 2009-10, Indian economy will need booster package in the next fiscal too, according to the planning commission.
Montek Singh Ahluwalia, deputy chairman, planning commission said, “It is certainly my view that the need for fiscal stimulus will not end this fiscal and will go beyond that. Since global slowdown will continue next year also, fiscal stance that needs to be considered should not be just for this fiscal but also for the next year.”
Rating agency Crisil has released a report stating that the state governments' key fiscal indicators-revenue deficit and gross fiscal deficit-will start deteriorating from 2009, after a four-year period of an improving trajectory.
A survey carried out by the Federation of Indian Chambers of Commerce and Industry has specified that it is the select service sector segments, which have recorded a 10-20 per cent growth during April to November this year, while the country’s manufacturing sector had to experience a low ride. 
Indian economy would grow at 7-8% as per mid-year economic review, presented in Lok Saba by the Minister of State for Finance, Mr. Pawan Kumar Bansal. Global factors, such as slowdown and financial crisis would impact the Indian economy to a significant extent despite various measures taken by the apex bank and the government to mitigate its impact. Post August period has adversely hit the Indian equity and the foreign exchange markets besides debt and credit markets. 
On Friday, Rupee fell by 31 paise against the dollar to close at 47.26/27 in the midst of cuts in interest rates as inflation has declined to a nine-month low.
Since the global slowdown will continue in 2009-10, Indian economy will need booster package in the next fiscal too, according to the planning commission. 
Rating agency Crisil has released a report stating that the state governments' key fiscal indicators-revenue deficit and gross fiscal deficit-will start deteriorating from 2009, after a four-year period of an improving trajectory.
