100 Days of Modi Government
GDP
The GDP growth rate for the quarter ended June 1, 2014, accelerated to 5.7% from the 4.6% growth rate recorded in the preceded quarter ended March 31, showing signs of green shoots of revival as investor sentiments got a boost with the formation of the new government.
Manufacturing
Manufacturing, which constitutes nearly is per cent of the economy
and plays a key role in providing quality jobs for graduates leaving Indian universities. expanded by 3.5 per cent in the three months to end-June. The crucial sector had contracted by 1.4 per cent in the quarter ended March 31, as business sentiments ran low and investments declined.
Mining
the mining sector recovered to expand by 2.1 per cent in the first quarter. it had shrunk by 0.4 per cent In the previous quarter as various scams such as Coalgate and the iron ore mining scandal had Impacted the sector.
Retail Inflation
Retail inflation based on the consumer price index in March had
gone up to 8.31 per cent. The figure has now come down to 7.96
per cent in July. according to the latest figures, prices of food items
such as vegetables, fruits and milk were the main drivers of inflation.
Export
Exports In March had contracted by 3.15 per cent. with the new government stepping in, exports picked up momentum and have grown by 7.3 per cent In July this year. the higher rate of growth in exports Is expected to bring down both the trade and current account deficits, which in turn will help maintain a stable rupee.
Fiscal Deficit
The country's fiscal deficit in the first four months of the current financial year has scaled Rs.3.24 Iakh crore to touch the 61.2 per
cent mark of the full year budget estimate. It is a problem inherited from the previous government. The figure is lower than the
April-July period of 2013-14 fiscal when the deficit was 62.8 per cent of budget estimates of that year. P. Chidambaram, the
then finance minister, had used a sleigh of hand to window-dress the numbers to show a lower deficit at the end of the year.
( hari krishnamurthy K. HARIHARAN)"think of them as Sand paper.
They Scratch & hurt you,
but in the end you are polished and they are finished. ''
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