| Subir Gokarn: The industrial divide | 16-NOV-09 |
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| With the release of the numbers for the Index of Industrial Production (IIP) for September 2009, we now have a picture of how the manufacturing sector has performed over the first six months (April-September) of 2009-10. The broad picture is, of course, reassuring in that it suggests that the sector has hit bottom and is now in a state of steady, if modest, recovery. The clear indicator of this is that the growth rate of the sector during this period, 6.3 per cent, is a full percentage point higher than it was during the corresponding period of 2008-09, when the downturn was getting under way. |
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| Breathing easier | 13-NOV-09 |
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| The Index of Industrial Production numbers for September 2009 revealed a growth rate of 9.1 per cent for the overall index and 9.3 per cent for the manufacturing sector, which comprises almost 80 per cent of the index. This was slower, but only slightly so, than the impressive 10.4 per cent notched up by the general index last month. This took the first half (April-September) growth rate of the index up to 6.5 per cent, appreciably better than the 5 per cent recorded in the corresponding period of 2008-09. The steady acceleration of the index over the past three months reinforces the perception that the economy is on a relatively robust, even if still moderate, recovery path. |
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| Higher govt borrowings do not crowd out private credit | 27-OCT-09 |
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| With the government raising over 80 per cent of its planned borrowings in the first half of the financial year on the back of adequate liquidity in the system, the fear of private credit getting crowded out have subsided, according to the Reserve Bank of India (RBI). |
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| IITs to accept new pay scheme after Council meet | 12-OCT-09 |
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| After more than a month-long protest and token fasting for a day to protest the (modified) Sixth Pay Commission package, the faculty members of premier Indian Institutes of Technology (IITs) appear to have resigned to implement the new pay structure with a few tweaks. |
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| Sibal relents, says ready for dialogue with IIT faculty | 24-SEP-09 |
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| As the IIT professors resorted to the unprecedented step of day-long hunger strike today over pay issue, HRD minister Kapil Sibal said he is open to have any kind of dialogue with them to discuss their demands but ruled out world class salaries due to lack of resources. |
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| IIM, IIT dons come together to oppose ministry proposals | 21-SEP-09 |
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| IIM and IIT professors are up in arms and have come together for the first time to reject the latest proposals of the Human Resource Development Ministry on pay scales and autonomy describing them as “infringement” on academic freedom. |
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| Reassuring numbers | 14-SEP-09 |
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| The numbers for the Index of Industrial Production (IIP) for July 2009 reinforce the perception that the economic recovery is gaining a firm foothold. Although the 6.8 per cent growth recorded over July 2008 was somewhat lower than in the previous month, both June and July indicate a sharp break from the sluggishness visible over previous months as the index veered from negative to marginally positive growth rates. Concerns about sustainability in the face of a weak monsoon persist. However, given the fact that July was a rather bad month as far as rainfall was concerned, the impact is apparently yet to be felt. Many forecasters expect the growth numbers to moderate a bit as the effect of the sub-normal monsoon sets in, but they support a relatively optimistic view of the economy. The most striking feature of the numbers is the fact that the manufacturing sector, which accounts for almost 80 per cent of the Index, is more or less keeping pace with the overall index. |
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| Pranab sees revival in second half | 14-AUG-09 |
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| Finance Minister Pranab Mukherjee today said that the economy was expected to revive in the second half of the year on the back of the latest Index of Industrial Production numbers, return of foreign institutional investors to the markets over the last two months and the normal functioning of the credit markets. |
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| Work longer | 12-AUG-09 |
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| After the Sixth Pay Commission, there may be some more goodies in store for bureaucrats. |
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| IIT-M faculty begin nine day protest | 06-AUG-09 |
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| The faculty of IIT-Madras began a nine-day protest here today against "delay" in implementing the Sixth Pay Commission recommendations and warned of intensifying the agitation if the government failed to take cognisance of their protest. |
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| Maha govt staff call off proposed strike | 03-AUG-09 |
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| The government employees in Maharashtra today called off their proposed strike which was sheduled to begin tomorrow, saying the state government has accepted 'most of their demands' including payment of HRA as per Sixth Pay panel recommendations from this month. |
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