HT Image
HT Image

Industrial growth declines to 7.6% in Dec '07

Dismal performance by manufacturing, mining and electricity sectors has pushed down the industrial growth rate to 7.6 per cent in December 2007 from 13.4 per cent in the corresponding month in 2006.
By HT Correspondent | PTI, New Delhi
UPDATED ON FEB 12, 2008 01:16 PM IST

Dismal performance by manufacturing, mining and electricity sectors has pushed down the industrial growth rate to 7.6 per cent in December 2007 from 13.4 per cent in the corresponding month in 2006.

The decline in the index of industrial production (IIP) in December was mainly on account of the manufacturing sector growth rate, which decelerated to 8.4 per cent from 14.5 per cent in the corresponding period last financial year, showed the quick estimates of IIP released on Tuesday.

The mining and electricity sectors too performed poorly during the month, recording growth rates of 3 per cent and 3.8 per cent respectively as compared to 6.1 per cent and 9.1 per cent in December 2006.

The cumulative industrial growth rate (April-December 2007) also slipped to 9 per cent from 11.2 per cent a year ago.

The nine-month growth rate for manufacturing sector declined to 9.6 per cent from 12.2 per cent in the previous fiscal.

Similarly, the growth rates for mining and electricity sectors worked out to be 4.9 per cent 6.6 per cent respectively, compared to 4.4 per cent and 7.5 per cent during the corresponding period of 2006-07.

The industrial growth rate for November 2007 has been revised downwards to 5.1 per cent from 5.3 per cent reported earlier.

SHARE THIS ARTICLE ON
Close
The very large rebound incorporates the view that recovery in activity will continue, with the rollout of vaccines and growing confidence in the market.(Bloomberg)
The very large rebound incorporates the view that recovery in activity will continue, with the rollout of vaccines and growing confidence in the market.(Bloomberg)

Moody's projects 13.7 pc growth in FY'22, expects 7 pc contraction this fiscal

PTI, New Delhi
PUBLISHED ON FEB 25, 2021 01:35 PM IST
For current fiscal, the US-based rating agency expects the economy to contract 7 per cent, lower than its previous estimate.
Close
The governor said both the centre and the state governments have their revenue pressures and they are required to spend high sums of money to enable the country and the people to come out of the Covid-19 pandemic stress.(MINT_PRINT)
The governor said both the centre and the state governments have their revenue pressures and they are required to spend high sums of money to enable the country and the people to come out of the Covid-19 pandemic stress.(MINT_PRINT)

For petrol, diesel price reduction, centre and state need to coordinate says RBI

PTI, Mumbai
PUBLISHED ON FEB 25, 2021 01:22 PM IST
On the central bank’s digital currency, Das said a lot of work is going on internally in the RBI and some broad guidelines and approach papers will be released on it soon.
Close
Gold bars are pictured on display at Korea Gold Exchange in Seoul, South Korea. (REUTERS)
Gold bars are pictured on display at Korea Gold Exchange in Seoul, South Korea. (REUTERS)

Gold prices decline again to 46,430, silver rises by 257

By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
PUBLISHED ON FEB 25, 2021 01:04 PM IST
Gold had previously closed at 46, 522 per 10 gram while silver had closed at 69,543 per kg.
Close
RBI Governor Shaktikanta Das on Friday was delivering the keynote address of the 185th foundation day celebration of the Bombay Chamber of Commerce and Industry.
RBI Governor Shaktikanta Das on Friday was delivering the keynote address of the 185th foundation day celebration of the Bombay Chamber of Commerce and Industry.

Fuel price hike not only affects those with cars, bikes: RBI Guv Shaktikanta Das

By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON FEB 25, 2021 12:38 PM IST
"We realise that states and Centre have their revenue pressures and require high sums of money to enable the country and people to come out Covid-19 stress," the RBI Governor said commenting on fuel price hike.
Close
Deal is part of Airtel’s strategy to consolidate its customer facing products and biz.reuters(MINT_PRINT)
Deal is part of Airtel’s strategy to consolidate its customer facing products and biz.reuters(MINT_PRINT)

Bharti Airtel raises USD 1.25 billion through debt instruments

PTI, New Delhi
PUBLISHED ON FEB 25, 2021 12:15 PM IST
The debt fund raising by the company comes just before the start of spectrum auction valued at 3.92 lakh crore.
Close
On Wednesday, the rupee had settled at 72.35 against the American currency.(Mint)
On Wednesday, the rupee had settled at 72.35 against the American currency.(Mint)

Rupee slips 6 paise to 72.41 against US dollar in early trade

PTI, Mumbai
PUBLISHED ON FEB 25, 2021 11:32 AM IST
At the interbank forex market, the domestic unit opened at 72.35 against the US dollar, then lost further ground and touched 72.41, registering a fall of 6 paise over its previous close.
Close
A vendor selling clothes waits for customers at a market in Hyderabad on November 27, 2020(AFP/For Representational Purposes Only)
A vendor selling clothes waits for customers at a market in Hyderabad on November 27, 2020(AFP/For Representational Purposes Only)

India may have exited recession in 2020-end, GDP data may shed light: Report

Bloomberg
PUBLISHED ON FEB 25, 2021 11:17 AM IST
Surveys from RBI this month showed that consumers perceived the current economic situation as being better than it was in November when a similar survey was conducted.
Close
After introducing special subscriptions for mobile, Netflix aims at South Korea to increase its subscribers.(Bloomberg)
After introducing special subscriptions for mobile, Netflix aims at South Korea to increase its subscribers.(Bloomberg)

Netflix plans $500 million Korea budget this year to crack Asia

Bloomberg
PUBLISHED ON FEB 25, 2021 10:44 AM IST
South Korea is Netflix’s third-biggest market in Asia by sales, after Australia and Japan, which estimates a growth of more than 5 million in 2021.
Close
India, which is often described as 'World Pharmacy' is supplying vaccines to more than 70 countries on a humanitarian and commercial basis, is spearheading the move to get a TRIPS waiver at the WTO.(AFP/For Representational Purposes)
India, which is often described as 'World Pharmacy' is supplying vaccines to more than 70 countries on a humanitarian and commercial basis, is spearheading the move to get a TRIPS waiver at the WTO.(AFP/For Representational Purposes)

WTO may consider India's proposal regarding IPR waiver on Covid-19 vaccines

ANI, New Delhi
PUBLISHED ON FEB 25, 2021 10:43 AM IST
If India succeeds in getting the proposed waiver of the agreement on TRIPS, it will reduce the cost of vaccines substantially and enable free flow of medicines, easy technology transfer across the world.
Close
Sebi had on Thursday asked NSE to do a root cause analysis about the incident and submit a report at the earliest.(AP)
Sebi had on Thursday asked NSE to do a root cause analysis about the incident and submit a report at the earliest.(AP)

Unavailability of online risk management system led to market shutdown: NSE

PTI, Mumbai
UPDATED ON FEB 25, 2021 10:31 AM IST
It is also awaiting a detailed root cause analysis from its telecom service providers and vendors regarding the incident, the exchange said.
Close
Representational image. (ANI)
Representational image. (ANI)

Govt tweaks public procurement policy to save pandemic-hit MSMEs

By Rajeev Jayaswal
UPDATED ON FEB 25, 2021 09:42 AM IST
Now, the eligibility of a firm will be judged on the basis of its net worth only. Earlier, fulfilling both criteria was necessary to become an eligible bidder for government contracts
Close
Geely and Volvo will move their powertrain activities into a separate company, which will enhance focus on development of electric vehicles.(REUTERS)
Geely and Volvo will move their powertrain activities into a separate company, which will enhance focus on development of electric vehicles.(REUTERS)

Volvo and Geely drop merger, betting they’ll be faster apart

Bloomberg
PUBLISHED ON FEB 25, 2021 08:26 AM IST
The manufacturers will preserve their separate corporate structures while cooperating more closely on electrification, software and autonomous-driving technology, according to a joint statement.
Close
FILE - In this Aug. 13, 2018, file photo a house is pictured for sale in Christchurch, New Zealand. New Zealand's government on Thursday, Feb. 25, 2021 made the first of several promised moves to rein in skyrocketing house prices by ordering the nation's Reserve Bank to consider the impact on housing when making decisions. (AP Photo/Mark Baker, File)(AP)
FILE - In this Aug. 13, 2018, file photo a house is pictured for sale in Christchurch, New Zealand. New Zealand's government on Thursday, Feb. 25, 2021 made the first of several promised moves to rein in skyrocketing house prices by ordering the nation's Reserve Bank to consider the impact on housing when making decisions. (AP Photo/Mark Baker, File)(AP)

Real estate in New Zealand feels Covid heat as housing prices skyrocket

PTI, Wellington
PUBLISHED ON FEB 25, 2021 07:57 AM IST
Opposing the expectations, prices have risen by more than 19% over the past year, putting them out of reach for many people wanting to buy their first home.
Close
“The PIPE and SPAC (special purpose acquisition company) investors will hold 20% and 10%, respectively in the combined entity,” Sumant Sinha, ReNew Power chairman and managing director told Mint.
“The PIPE and SPAC (special purpose acquisition company) investors will hold 20% and 10%, respectively in the combined entity,” Sumant Sinha, ReNew Power chairman and managing director told Mint.

ReNew Power to merge with RMG for US listing

By Utpal Bhaskar, Livemint, New Delhi
PUBLISHED ON FEB 25, 2021 07:29 AM IST
The transaction puts an enterprise value of around $8 billion on ReNew Power, and is expected to close in the second quarter of this year, the two companies said in a joint statement.
Close
Flipkart plans to have charging infrastructure at nearly 1,400 supply chain centres.(REUTERS)
Flipkart plans to have charging infrastructure at nearly 1,400 supply chain centres.(REUTERS)

Flipkart looks to deploy 25,000 Electric Vehicles by 2030

By Madhurima Nandy, Livemint, Bengaluru
PUBLISHED ON FEB 25, 2021 07:26 AM IST
The online retailer owned by Walmart Inc. will also create charging infrastructure at its delivery hubs and offices, a senior company executive said, adding that the company has started deploying 450 EVs, both two and three-wheelers, in several cities.
Close
SHARE
Story Saved
OPEN APP