Home Nation World Business Politics Odd & Weird Region Entertainment Education
HINDI


Chidambaram emphasizes on quick decisions for investment boost




Published by:
Published on: Fri, 31 Aug 2012 at 12:20 IST
Chidambaram emphasizes on quick decisions for investment boost
New Delhi: Expressing concern at drop in fixed investment growth, Finance Minister P Chidambaram emphasized on quick decisions to accelerate investment mainly in manufacturing sector.

Reacting to the quarterly economic growth data, Chidambaram said some numbers, especially a sharp drop in the growth of fixed investment, were a matter of concern.

"Of course, the decline in the growth of fixed investment (0.7 percent in first quarter of 2012-13 as against 14.7 percent in first quarter of 2011-12) is a source of concern to the government," the finance minister said.

"It emphasizes once again the need to take quick decisions to accelerate investments, especially removing all bottlenecks to investments in the manufacturing sector," he added.

According to data released by the Central Statistical Organisation (CSO), the economy grew at a sluggish 5.5 percent in the first quarter of this fiscal in comparison to 8 percent in the corresponding quarter of the previous financial year owing to poor performance of manufacturing, mining and agriculture sector.

Manufacturing grew at a sluggish 0.2 percent in the first quarter.
The first quarter data is slightly better than the 5.3 percent growth registered in the country's gross domestic product (GDP) during the quarter ended March 31, 2012.

"After the continuous reduction in the growth rate in successive quarters beginning in the fourth quarter of 2010-11, this is the first time when quarterly growth rate has exceeded the growth rate in the previous quarter," Chidambaram said in a written statement.
The finance minister said performance of construction sector was encouraging considering the overall scenario.

"At the same time, there are also encouraging signs such as the growth of the construction sector at 10.9 percent in the first quarter of 2012-13 as against 3.5 percent in the first quarter of 2011-12," he said.
Fire engulfs cracker market at Dussehra Ground in Faridabad
Tamanchey stars Richa Chadda, Nikhil Dwivedi promote their film in Lucknow
Samajwadi Party's National Convention Day 2014
UP CM Akhilesh Yadav lays foundation stone of Lucknow Metro
Ramleela fervor grips Lucknow people
Ganpati Visarjan 2014: Lucknow people bid adieu to Ganpati Bappa
Kathakali dance performance at Lucknow by Kerala artist to promote tourism
Priyanka Chopra promotes Marry Kom in Lucknow
10 best pictures of Star Plus' popular show 'Mahabharat'
Kareena Kapoor and Ajay promoting upcoming movie Singham Returns
Mohit Marwah at Life Ok Awards
Kareena Kapoor at Television show Jhalak Dikhhla Jaa
Police Charge Batons over Shia Muslims in Lucknow
Salman Khan's upcoming movie 'KICK' - promotion handled by Events N More (Mumbai)
Mohanlalganj Rape: BJP Youth Wing Conducted 'Hawan' to Purify Mulayam Singh's Mind
>>

Related Stories:-


Opinion Polls
Who is the most popular Bigg Boss 8 contestant?
Karishma Tanna
Diandra Soares
Sushant Digvikar
Pritam Singh
Minissha Lamba
Arya Babbar
Natasha Stankovic
Soni Singh
Puneet Issar
Gautam Gulati
Praneet Bhatt
Sonali Raut
Ali Quli Mirza
Upen Patel

Pardaphash name, logo and all associated elements ® and © 2011 Mahakaal News Management Pvt. Ltd.
All rights reserved. Pardaphash and the Pardaphash logo are registered marks of Mahakaal News management Pvt. Ltd.
Pardaphash is hosted with Enzoo could compute engine.
Valid XHTML 1.0 Transitional
This page is generated in : 0.009 Seconds




EXCLUSIVE: Uttar Pradesh marching on path of development: Alok Ranjan (INTERVIEW)