By IANS,

Kolkata : India's gross domestic product (GDP) would be around 8.2 percent next fiscal, Chairman of the Prime Minister's Economic Advisory Council C. Rangarajan said Friday.

"In the current fiscal (2009-10) we would clock 7.2 percent GDP and 8.2 percent in the next fiscal (2010-11)," he said, addressing a conference organised by the Calcutta Chamber of Commerce.

By IANS,

New Delhi : Finance Minister Pranab Mukherjee Friday assured every step to tame inflation, which he feels may be higher than 8.5 percent by end-March, and said a 7.2-percent economic growth was not a fantasy given the industrial rebound.

"A 7.2-percent growth is not my pipedream, even though I have given up smoking pipes," Mukherjee told the Lok Sabha, the lower house of parliament, replying to a debate on the federal budget for the next fiscal, which he had tabled Feb 26.

By IANS,

New Delhi : Major gas discoveries in India and the changing gas market will be discussed at the 6th Asia Gas Partnership Summit starting here March 22, a government official said Friday.

By IANS,

New Delhi : India's industrial production rose 16.7 percent in January from 1 percent a year earlier, buoyed by continued growth of the manufacturing sector and a low base effect, official data showed Friday.

The output was a better-than-expected 16.8 percent in December 2009. In January 2009, the figure stood at just 1 percent.

By IANS,

Mumbai : The follow-on public offer of the state-run National Minerals Development Corp was over-subscribed 1.22 times Friday, the last day, with good demand from financial institutions, according to data available with the bourses.

At close, bids were received for 40,94,11,320 shares against 33,22,43,200 on offer. The issue had opened on March 10 with the price band of Rs.300-Rs.350.

By IANS,

Mumbai : A benchmark index for Indian equities Friday closed flat, marking an end to a rather lacklustre trading week.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,176.02 points, shut shop at 17,169.48 points (provisional) -- almost unchanged from its previous close at 17,167.96 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 5,138.8 points, against the previous close at 5,133.4 points.

By IANS,

New Delhi : India's industrial production rose 16.7 percent in January from one percent a year earlier, official data showed Friday.

The output was a better-than-expected 16.8 percent in December 2009. In January 2009, the figure stood at just 1 percent.

The index of industrial production (IIP), which measures the country's factory output, stood at 9.6 percent during the first 10 months (April-January 2009-10) this fiscal as against 3.3 percent in the like period of 2009, data released by the Central Statistical Organisation showed.

By IANS,

New Delhi : Left and Samajwadi Party (SP) MPs Friday walked out of the Lok Sabha in protest against rising food prices and demanded a White Paper on inflation.

Ramachandran Dome of the Communist Party of India-Marxist (CPI-M) raised the issue and asked the government to explain the causes that have led to the situation.

Gurudas Dasgupta of the Communist Party of India (CPI) backed the demand. He called for the White Paper.

As the issue was discussed in the house last week, Speaker Meira Kumar didn't allow the MPs to raise it again.

By Madhusree Chatterjee, IANS,

New Delhi : With a healthy booty of Washington apples, Indiana popcorns, Georgian pecan nuts, Californian pistachios and prunes, the US is looking to forge new "diplomatic" ties by increasing its presence in the Indian health food market.

By IANS/EFE,

Brasilia : The Brazilian government has raised its projection for economic growth this year from 5.2 percent to more than 5.7 percent.

"The vigour the economy had (pre-recession) was fully resumed. Growth will be better than 5.7 percent," Finance Minister Guido Mantega told a press conference here Thursday.

Mantega called a 5.7 percent expansion "sustainable" and said Brazil will enjoy "quality growth" thanks to increased investment and a recovery of manufacturing.