Indian Economy

Textile exporters may get financial package

Textile exporters may get financial packageThe Union Government may announce financial package for the textile exporters of the country. Textile sector is facing low demand due to global slow down and have suffered huge losses. Export declined by 12.32 per cent in October this year and stood at $12.8 billion as compared to $14.6 billion in the corresponding period last year.

Union Commerce Secretary, G. K. Pillai said that textile sector suffered from low demand in international market and the industry is likely to cut five-lakh jobs in the next five months leading to large scale unemployment.

Sonia Gandhi asked for calibrated liberalization

Sonia Gandhi asked for calibrated liberalizationCongress president and UPA chairperson, Sonia Gandhi extended her support to calibrated liberalization of economy and said that government is committed to galvanize country from the impact of global slowdown. She called for such economic policies which don't affect the vulnerable sections of society and do not compromise with social justice.

Inflation dips marginally

http://topnews.in/node/91782The wholesale price index (WPI) based inflation rate continued to decline in the second consecutive week and now stands at 8.90 per cent. The inflation was 8.98 per cent a week ago. Declining trend brings a respite for the central government, which is facing flak for rising prices. 

It has also paved a way for Reserve Bank to further revise key interest rate to improve liquidity condition in the financial system. Economists believe that it can further slide even below the expectations of the Reserve Bank in the coming days. 

Advani meets corporate leaders

Advani meets corporate leaders BJP’s senior leader and NDA’s Prime Ministerial candidate, L.K. Advani stressed the need to take hard steps for country’s economic growth. He warned that India can face meltdown, causing large scale lay-offs following the impact of the global slowdown. India needs stern actions and willpower to bring the situation to normal level. He was speaking in a meeting with top corporate leaders to discuss impact of global slowdown. 

India will survive global crisis, sustain 8-per-cent growth: Singh

New Delhi - Indian Prime Minister Manmohan Singh Friday asserted that India "can and will survive" the global financial crisis and sustain an 8-per-cent economic growth.

"In a globalized world, we cannot pretend that we are not affected by the economic crisis," Singh said while addressing a conference in New Delhi, adding "however, we can and will survive this crisis and emerge stronger."

Exuding confidence that India had "resources and wisdom" to deal with the crisis, Singh said all instruments of public policy - fiscal, monetary, exchange rate and public investment - will be deployed to ensure growth and entrepreneurship and tackle the adverse impact of the slowdown.

India Plans to Increase Investment in Infrastructure

India Plans to Increase Investment in Infrastructure

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