What Structural reforms will the Govt. do, What Bold decisions will they take, How will they improve investments?: Former Finance Minister P Chidambaram on Union Budget

Former Union Finance Minister P Chidambaram’s speech in the Rajya Sabha on the Union Budget, Excerpts:

  • Very unhappy democracy is suffering a blow every day.
  • Condemn what is happening in Karnataka and Goa.
  • This could have a very damaging effect on the economy.
  • I appeal to them to respect Democracy.
  • Quotes Bharatiyar and says I am very Happy she is the first Woman Finance Minister of India and doubly Happy she is from Tamil Nadu.
  • Refers to the Macro economic figures missing from the Budget Speech.
  • Economy could grow between 6.5 to 6.8%, which is not good for the bottom 20% of the population.
  • The projections of Tax collections are unrealistic.
  • The Economy is weak the Budget Speech is unsipid.
  • Expect the Govt to tell us
  • What Structural reforms, they will do
  • What Bold decisions they will take to revive the economy
  • How they will improve investments
  • To spur India’s growth to 8 % this year and to raise it to double digit 10% …

 

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Index of 8 Core Industries registered a growth of 5.1% in May’19 over last year: Commerce Ministry

Highlights of the performance of the Eight Core Industries for the month of May, 2019:

  • The Index of Eight Core Industries (ICI) registered a growth of 5.1 per cent in May, 2019 over May, 2018.
  • The cumulative growth of these industries during April-May 2019-20 was 5.7 per cent as compared to the  growth of 4.4 per cent during April- May 2018-19.
  • Four out of the eight core industries registered a positive growth rate in May 2019 over May 2018.
  • Steel sector has registered double digit growth of 19.9 percent in the month of May 2019 over May 2018.
  • Electricity sector has registered growth of 7.2 percent in the month of May 2019 over May 2018.
  • Electricity generation was 248.1 billion units during April-May 2019-20 as compared to 232.7 billion units in the same period of previous year.
  • Cement and Coal sectors have registered moderate growth of 2.8 percent and 1.8 percent respectively in the month of May 2019 over May 2018.
  • The production of Coal was 58.62 million tonnes in May 2019 as compared to 56.35 million tonnes in April 2019.
  • Cement production was 57.7 million tonnes in April-May 2019-20 as compared to 56.3 million tonnes in the same period of previous year.