April 2011
International Monetary Fund (IMF) has lowered India`s economic growth rate forecast to 8.2 per cent for 2011 and warned that boom like conditions could lead to over-heating of the economy.” The challenge for many emerging and some developing economies (is) to ensure that present boom-like conditions do not develop into overheating over the coming year,” the IMF said in its World Economic Outlook report. However, it retained its projection for global economic growth at 4.5 per cent in 2011 and 2012, which is lower than 5 per cent growth it projected for 2010.
The Telecom Regulatory Authority of India (TRAI) on 13 April issued important recommendations related to manufacturing, infrastructure and green telecom to promote structured growth of the sector. It has also asked for making green measures as an integral part of the proposed National Telecom Policy 2011 and ensuring energy certification for all telecom products, equipment and services in the telecom network.
A cluster of 30 units to manufacture hi-tech defense and space components, apart from a major facility for integration of missile subsystems, would be coming up at the Aerospace and Precision Engineering SEZ at Adibatla, near Hyderabad.
The entire 100 acres, earmarked for the SEZ and another 100 acres in the non-SEZ area for developing ancillaries, have been allotted to the units by the co-developer -- SAMUHA Engineering Industries Limited -- formed by six aerospace and defense companies. SAMUHA would develop infrastructure like power, water, sewerage, greenery, and other common facilities along with APIIC.
The BRICS nations inked a pact at Sanya (china), to use their own currencies instead of the U.S. dollar in issuing credit or grants among each other.
Braving the slow economic growth and declining demand from the western markets, India`s exports posted an impressive 37.1 per cent rise at $245.9 billion for the fiscal ending 2010-11. During March shipments posted an impressive 43.9 per cent growth at $29.1 billion. Engineering goods constituted the largest component of the exports entailing considerable domestic value addition and engineering exports crossed $60 billion, a growth of 84.76 per cent. Petroleum products exports were up 50.58 per cent at $42.45 billion.