Business News – Newsletter for February 25, 2011

Histrionics, poetry and frayed nerves – Mamata at her best

NEW DELHI – She jousted and shouted, cajoled and smiled, broke into heavily accented Urdu and Hindi and even recited poetry. It was the quintessential Mamata Banerjee Friday as she read out the railway budget with liberal doses of histrionics that had her audience at the Lok Sabha alternately infuriated and amused.

The feisty … Original article on : Histrionics, poetry and frayed nerves – Mamata at her best.

Green growth should not result in slow growth cautions economic survey

NEW DELHI – In The Economic Survey tabled him in Lok Sabha today, by Finance Minister Pranab Mukherjee cautions that “green growth should not result in slow growth.”

The Survey observes that proper balance of the climate and growth will be a challenge for the Government.

According to the survey, careful planning and customized policies are needed …. Read the original article  : Green growth should not result in slow growth cautions economic survey.

No fare or freight hikes, 68 new trains in populist rail budget (Roundup)

NEW DELHI – Sparing the passenger and industry from fare and freight hikes yet again, Railway Minister Mamata Banerjee Friday presented the rail budget for 2011-12 with the highest investment of Rs.57,630 crore ($12.7 billion), 68 new trains and a vow to build a stronger railroad infrastructure based on the Vision 2020 document.

From more … Read : No fare or freight hikes, 68 new trains in populist rail budget (Roundup).

50 percent infrastructure projects delayed: Economic Survey

NEW DELHI – Progress on key infrastructure projects, especially roads, power and railways, has not been satisfactory as more than half the central projects have been delayed, resulting in high costs, says the Economic Survey for fiscal 2010-11 tabled in parliament Friday.

Of the 559 central projects costing Rs.150 crore and above, 293 were delayed …. Source  : Gaea News Network.

UAE is India’s top trading partner

NEW DELHI – The United Arab Emirates (UAE) continues to be India’s top trading partner as demand for Indian goods rises in the Gulf countries. It is followed by China and the US, says the Economic Survey for fiscal 2010-11.

The US, which used to be India’s top trading partner till 2007-08, had … Original article on : UAE is India’s top trading partner.

Building Bihar, one road at a time

RAGHUNATHPUR/PATNA/GAYA – Shahbaz Khan earlier used to take seven to eight hours to travel from Raghunathpur to the state capital, a distance of about 100 km, to market his goods. Now it takes just three, thanks to a metalled road, the most visible and talked about sign of development in a changing Bihar.

“Look …. Original article on Gaea Times at  : Building Bihar, one road at a time.

Highlights of railway budget 2011-12

NEW DELHI – Highlights of the railway budget for 2011-12 presented in the Lok Sabha Friday by Railway Minister Mamata Banerjee:

* No increase in fares.
* Earnings for 2010-11 set to exceed Rs.1 lakh crore.
* Working expenditure during 2011-12 estimated at Rs.87,000 crore.
* Outlay of Rs.57,630 crore for 2011-12, the highest … Original source on Gaea Times at : Highlights of railway budget 2011-12.

It’s common man’s budget, says PM

NEW DELHI – Prime Minister Manmohan Singh Friday praised the rail budget presented by Railway Minister Mamata Banerjee as a “common man’s budget.

It is a common man’s budget with no increase in freight and passenger fares. It will help to weaken the cost crucial element of inflationary expectations, the prime minister told reporters … Read : It’s common man’s budget, says PM.

Economic survey calls for a second green revolution

NEW DELHI – The Economic Survey presented by Finance Minister Pranab Mukherjee today underlined the need for making efforts to achieve a second green revolution in the country.

The Survey recalled that the pioneering efforts of agriculture scientists and farmers were able to achieve a breakthrough in the agriculture sector in the 1960s and … Read : Economic survey calls for a second green revolution.

Tablets set to sweep corporate offices

NEW YORK – Just second year into their existence, tablets are set to sweep corporate offices, according to a survey.

With tablets’ business apps luring them, about half of chief information officers (CIOs) at major companies say they will increase use of tablets in the next two years, according to the survey by Robert Half [..] Read the original article: here.

The Didi-Lalu joust in Lok Sabha

NEW DELHI – It was waiting to happen – Railway Minister Mamata Banerjee and her predecessor Lalu Prasad spewing anger at each other during the presentation of the railway budget Friday.

When Didi, as the railway minister is popular known, announced some projects for the poll-bound West Bengal, her home state, Lalu Prasad was …. Source  : The Didi-Lalu joust in Lok Sabha.

Common man’s budget, says appreciative PM

NEW DELHI – Prime Minister Manmohan Singh Friday appreciated the rail budget presented by Railway Minister Mamata Banerjee and said it was “a common man’s budget”.
… Read this article on Gaea Times at : Common man’s budget, says appreciative PM.

Railway budget highlights – 7

NEW DELHI – More highlights from Railway Minister Mamata Banerjee’s budget presented in the Lok Sabha Friday:

* No increase in fares.
* Age for senior citizen’s concession reduced to 58 from 60.
* Central Organistaion for Project Implemtaiton created; will create accountability for non-performance.
* Rail linkage to Gujarat from Delhi-Mumbai freight corridor.
* …. Read the original article  : Railway budget highlights – 7.

3G, broadband wireless access key frontiers of growth: Economic Survey

NEW DELHI – India’s Economic Survey for 2010-11 Friday termed the introduction of third generation (3G) and broadband wireless access (BWA) technologies as the “key frontiers” of the growth of the telecom industry.

“The last five years have been transformational for Indian telecom industry, the next few years look even more exciting. One of …. Original article on Gaea Times at  : 3G, broadband wireless access key frontiers of growth: Economic Survey.

Survey gung-ho on growth, but predicts higher inflation

NEW DELHI – India’s Economic Survey for 2010-11 has predicted 8.6 percent growth for the current fiscal and gross domestic product (GDP) touching the 9 percent mark in 2011-12. It has also sounded concern over inflation and the fall in factory output in the coming months.

Finance Minister Pranab Mukherjee tabled the annual report on …. Source article  : Survey gung-ho on growth, but predicts higher inflation.

Indian exports up 29.5 percent in April-December 2010

NEW DELHI – India’s exports rose 29.5 percent to $164.7 billion in the first three quarters of the current fiscal and it is likely to remain robust for the next two years, according to the Economic Survey for fiscal 2010-11.

Indias cumulative export growth in April-December 2010 stood at 29.5 percent with cumulative exports … Read more >>.

Domestic air traffic up 19 percent: Economic Survey

NEW DELHI – At 51.53 million, domestic air passenger traffic grew by 19 percent in 2010 compared to 43.3 million in 2009, according to the Economic Survey 2010-11 tabled by Finance Minister Pranab Mukherjee in the Lok Sabha Friday.

“The civil aviation sector witnessed a strong recovery during 2010 from the adverse impact of the … Read more »».

Railway budget highlights – 6

NEW DELHI – More highlights from Railway Minister Mamata Banerjee’s budget presented in the Lok Sabha Friday.

* Earnings for 2010-11 set to exceed Rs.1 lakh crore.
* Integrated suburban network to be set up in Mumbai, Chennai, Ahmedabad and other cities; suburban system of Hyderabad to be strengthened.
* Concession for physically handicapped and … Read this article on Gaea Times at : Railway budget highlights – 6.

Mamata’s rail budget promises growth with human face

NEW DELHI – With highest ever allocation of Rs.57,630 crore ($13 billion), Railway Minister Mamata Banerjee Friday presented the rail budget for 2011-12, promising to move fast to build a stronger railroad infrastructure while addressing the needs of the average person.

From more money for better safety and several industrial parks under the public-private partnership … Read this article on Gaea Times at : Mamata’s rail budget promises growth with human face.

Railway budget highlights – 5

NEW DELHI – More highlights from Railway Minister Mamata Banerjee’s budget presented in the Lok Sabha Friday.

* Working expenditure during 2011-12 estimated at Rs.87,000 crore
* Passing through a difficult phase; 97 percent increase in expenditure due to implementation of Sixth Pay Commission report.
* Loss of Rs.3,500 crore in 2010-11.
* Ten-year … Original article on : Railway budget highlights – 5.