Govt pegs GDP growth rate for 2012-13 at 5%

New Delhi: Indias e ono!" will grow onl" 5% in the "ear to 31 #ar h$ govern!ent statisti ians esti!ated on %h&rsda"$ signifi antl" lower than the onsens&s esti!ate of aro&nd 5'5%' In the first two (&arters )*pril to +epte!,er- of the finan ial "ear$ the e ono!" grew at 5'.%$ indi ating that it !a" grow at .'/% in the se ond half of the "ear' %he finan e !inistr" had fore ast the e ono!" to grow at 5'0-5'1% d&ring the "ear' %he agri &lt&re se tor is e2pe ted to grow at 1'3% o!pared with 3'3/% in the previo&s "ear$ while !an&fa t&ring growth is pro4e ted to slow to 1'1% fro! 2'0%' Per apita in o!e at &rrent pri es is esti!ated to rise 11'0% to 5s'/3$0.0 d&ring 2012-13 fro! 5s'/1$5/. in the previo&s "ear' 6n 7ednesda"$ the International #onetar" 8&nd )I#8- said the Indian e ono!" is e2pe ted to grow at 5'.% in the "ear' 9ast wee:$ Indias statisti s depart!ent revised the e ono!i growth data for the "ear ended 31 #ar h to /'2% fro! /'5% esti!ated earlier' %he Indian e ono!" fa es the ris: of de elerating f&rther if the govern!ent dela"s str& t&ral refor!s in the e ono!"$ I#8 said' 9ast !onth$ the 5eserve ;an: of India &t poli " rates ," 25 ,asis points to ,oost growth' 6ne ,asis point is 0'01%' %he overall GDP growth n&!,er a!e as a sho : !ostl" ,e a&se of lower growth esti!ates on the servi es se tor$ a ording to #adan +a,navis$ hief e ono!ist at <are ratings' =Given that invest!ent is not "et pi :ing &p and ons&!ption growth re!ains !&ted$ e ono!i growth in the ne2t fis al will re!ain s&,d&ed growing at aro&nd /%$> he said' %he trade$ hotels and o!!&ni ations se tor is esti!ated to grow at 5'2%$ o!pared with 0% in the last fis al$ while finan ing and ins&ran e se tor is pro4e ted to slow down to 3'/% against 11'0% a "ear earlier' <o!!&nit" and so ial servi es$ whi h !eas&res govern!ent e2pendit&re has ,een esti!ated to a elerate to /'3% fro! /%' +a,navis said sin e finan e !inister P' <hida!,ara! has ,een severel" &tting down plan e2pendit&re of vario&s !inistries to !eet his fis al defi it target$ /'3% growth in o!!&nit"

servi es see!s an over-esti!ation and !a" need to ,e revised downward' %he advan e esti!ates of GDP for the &rrent fis al "ear !a" also !a:e it to&gher for the finan e !inister to a hieve the revised fis al defi it target of 5'3% sin e the GDP esti!ated at !ar:et pri e d&ring ,&dget al &lation has also fallen short' 7hile the ,&dget al &lations were !ade ass&!ing 1.% GDP growth at 5s'101'/ trillion in ter!s of !ar:et pri e$ advan e esti!ates released on %h&rsda" showed GDP at !ar:et pri es to have grown ," 11'0% to 5s'100'3 trillion' ?ven if govern!ent sti :s to its revised !ar:et ,orrowing progra!!e$ the fis al defi it !a" t&rn o&t to ,e 5'.5% of GDP' +a,navis said it wo&ld ,e a !ira le if the finan e !inister is a,le to a hieve the fis al defi it target &nder the &rrent ir &!stan es' 2'<"r&s #istr" ,egins %ata gro&p !a:eover

#&!,ai: +ignalling a generational shift at the hel! of the 1.5-"ear-old %ata gro&p$ hair!an <"r&s #istr" has initiated fresh hanges in the senior !anage!ent as he goes a,o&t p&tting his sta!p on the salt-to-steel onglo!erate after ta:ing over fro! 5atan %ata$ who retired in De e!,er' #istr"$ ..$ is not onl" hand-pi :ing !e!,ers of his *-tea! with a lear e!phasis on "o&th$ ,&t is also reating new positions to read" the @100 ,illion )aro&nd 5s'5'3 trillion rore- gro&p for the ne2t level of growth' 6n 7ednesda"$ %ata +ons 9td$ the gro&ps holding o!pan"$ anno&n ed the appoint!ent of #&:&nd 5a4an$ who is the sa!e age as #istr"$ as the gro&ps ,rand &stodian and spo:esperson' 5a4an$ who has spent at least 13 "ears with the gro&p$ will also serve as hief ethi s offi er' Ae will report dire tl" to #istr"' %he 4o, of the ,rand &stodian and hief ethi s offi er ass&!es signifi an e in the ,a :drop of #istr" highlighting the val&es of =(&alit" and olla,oration$ and the &n o!pro!ising adheren e to

a resilient val&e s"ste!>$ in his first letter to the gro&ps e!plo"ees on 3 Ban&ar" after ta:ing over fro! %ata$ who retired on 23 De e!,er' %he appoint!ent will ,ring 5a4an into #istr"s inner ir le along with the li:es of #adh& Cannan$ 31$ for!er hief e2e &tive offi er )<?6- of ;+? 9td$ who 4oined the gro&p in 2012 to head the ,&siness develop!ent depart!ent and reports to #istr"' 7hile !ost of the f&n tions e2isted earlier in spirit$ the new designations !a" help f&rther strea!line the f&n tions and help #istr" ,e o!e !ore effe tive$ sa" !anage!ent e2perts' =New leaders li:e to ,&ild their own tea!s of people who the" :now will ,e with the! for the long ter!' %his ens&res ontin&it" of thin:ing and intera tion at the top level$> said #orgen 7itDel$ the !anage!ent writer who a&thored %ata: %he ?vol&tion of a <orporate ;rand' %he hair!ans offi e has ,een handling all ,rand !anage!ent a tivities sin e +epte!,er 2011$ said a gro&p e2e &tive who de lined to ,e na!ed' ;rand e2perts onsider these positions =vital and riti al> for the onglo!erate' =?ver" ,rand needs a &stodian who will help to onve" what the o!pan" and a parti &lar ,rand stands for' %ata is a h&ge gro&p and a ,rand in itself' Aowever$ there are n&!ero&s other ,rands &nder the %ata &!,rella and ea h re(&ires a strateg"Edifferent and "et in line with the overall strateg" and poli " of the gro&p$> said 5a!an&4a! +ridhar$ fo&nder and <?6 of Integrated ;rand-<o!! Pvt' 9td$ a ;angalore-,ased ,rand ons&lting fir!' *part fro! !oving "o&ng e2e &tives to the forefront$ #istr" is also reating new tea!s' 8or instan e$ *4it Crishna:&!ar$ an invest!ent ,an:er at 5oths hild India and son of %ata gro&p veteran 5'C' Crishna:&!ar$ is ,eing appointed to head a !ergers and a (&isitions tea!$ %he ? ono!i %i!es newspaper re entl" reported' Ais appoint!ent to the position o&ld not ,e independentl" onfir!ed' 7itDel said he had no wa" of :nowing if appointing "o&ng e2e &tives in :e" positions was a ons io&s strateg"$ ,&t e!phasiDed that leadership is =at heart a tea! a tivit"> and leaders an onl" ,e effe tive if the" an wor: well with those losest to the!' *4it Crishna:&!ar is in his late 30s' *!ong other relativel" "o&ng e2e &tives of the gro&p$ Aarish ;hat$ .1$ was appointed as <?6 of %ata Glo,al ;everages 9td in B&ne last "ear$ and *vani Davda$ 33$ as <?6 of %ata +tar,& :s 9td' %he new ,rigade in l&des Co&shi: <hatter4ee$ e2e &tive dire tor and gro&p hief finan ial offi er of %ata +teel 9tdF Carl +l"!$ !anaging dire tor )#D- of %ata #otors 9tdF 5' #&:&ndan$ #D of %ata <he!i als 9tdF ;has:ar ;hat$ #D of %itan Ind&stries 9tdF Ginod C&!ar$ #D and <?6 of %ata <o!!&ni ations 9tdF 5' 5a!anan$ #D and <?6 of <#< 9tdF N' +rinath$ #D and <?6 of %ata %eleservi es 9tdF and ;rotin ;aner4ee$ <?6 of %ata Ao&sing Develop!ent <o' 9td' 5a4an$ who started his areer with %ata *d!inistrative +ervi es$ a !anagerial develop!ent progra!!e of the gro&p$ went on to ,e o!e the #D of %ata %eleservi es )#aharashtra- 9td and the head of the private e(&it" advisor" ,&siness' %he "o&ng veteran$ who has also served as the !anaging partner of the %ata 6pport&nities 8&nd$ will now ,e responsi,le for all orporate o!!&ni ations and ,rand-related a tivities for the gro&p in India and overseas$ apart fro! the orporate so ial responsi,ilities of the %ata gro&p' *fter ta:ing over as hair!an$ #istr" anno&n ed invest!ent plans of 5s'.5$000 rore for the gro&p over the ne2t two "ears' In his letter to e!plo"ees$ he said the orp&s will ,e &sed for =spreading of ris:$ a (&isition of te hnolog"$ a ess to talent$ and invest!ent in long-ter! growth !ar:ets>' 3'*&di India sales &p 10'5% in Ban&ar"

New Delhi: Ger!an l&2&r" ar !a:er *&di *G on %h&rsda" reported 10'5% growth in sales in India d&ring Ban&ar" at 030 &nits as against //0 &nits in the sa!e !onth last "ear' 9eading the growth for *&di in India are the *&di H3$ new *&di H5 and *&di H0$ *&di India said in a state!ent' =6&r sale of 030 ars in Ban&ar" signifies o&r growing appeal a!idst the l&2&r" ar &sto!ers' %his was possi,le despite the pri e hi:e on o&r India !odel range starting Ban&ar" this "ear$> *&di India head #i hael Pers h:e said' Ae said the o!pan" has set a sales target of 10$300 &nits$ for 2013 whi h will ,e a growth of 20% over 1$003 &nits sold last "ear' ;&llish on the Indian !ar:et$ he said: =9i:e the glo,al !ar:et$ *&di is at No 2 and ,ased on o&r &rrent perfor!an e we are well on tra : to a hieve the No 1 position in the l&2&r" ar !ar:et in India ," 2015'> +o far this "ear$ the o!pan" has la&n hed the new *&di H5 and the new *&di 53' =7e are onstantl" enhan ing o&r prod& t line$ networ: growth and reating wider ,rand awareness' %his is reating a larger &sto!er ,ase and is refle ting learl" in o&r sales$> Pers h:e said' *&di India plans to e2pand its networ: to 3. dealerships ," the end of 2013 fro! its e2isting 25 entres' %he o!pan" re entl" opened new showroo!s in #&!,ai +o&th and 9& :now' .'5&pee falls on defi it on erns

#&!,ai: %he Indian r&pee fell on %h&rsda" after a govern!ent pro4e tion esti!ated e ono!i growth in the fis al "ear will ,e worse than e2pe ted$ raising on erns a,o&t how it wo&ld f&nd its fis al and &rrent a o&nt defi its' %he govern!ent said the o&ntr"s slowest growth in a de ade o&ld ,e !& h worse than earlier pro4e tions' Preli!inar" data released on %h&rsda" showed the e ono!" set to have grown 5% in the fis al "ear ending ne2t !onth$ &nders oring the &rgent need for refor!s to ,oost growth' %he on erns a,o&t slowing growth o!e even as a ontin&ed ris: appetite has ens&red large apital inflows into the e(&ities !ar:ets$ !ost re entl" into state-r&n power &tilit" N%P< 9tds share sale' %he @2'1 ,illion share a& tion in state-r&n power &tilit" N%P< was f&ll" overed on %h&rsda"$ provisional data fro! the ;+? showed' Aowever$ so!e dealers said the advan e gross do!esti prod& t n&!,ers sho&ld not ,e loo:ed at in isolation' =%he disinvest!ent pro ess$ dereg&lation of diesel pri es and also so!e ,&dgetar" stan e !a" help lower <*D ) &rrent a o&nt defi it- as well as fis al defi it' %herefore$ we need to onsider the ,igger perspe tive$> said *shis ;ar&a$ a senior fore2 dealer at Ind&sInd ;an: 9td' =In the near ter!$ I feel one to& h to 52'35-52'.0 is d&e$> he said' %he r&pee will strengthen aro&nd 1% to 52'50 in 12 !onths$ a 5e&ters poll showed' %he partiall" onverti,le r&pee losed at 53'22I23 per dollar$ vers&s its previo&s lose of 53'155I1/5$ a se ond session of falls' It traded in a 53'00-53'32 ,and in the session' 6nshore dollar forward pre!i&!s saw so!e re eiving after the sharp spi:e to fo&rteen-"ear highs on 8rida"' %he one-"ear forward pre!i&! eased to 351'50 points vers&s 355 points on 7ednesda"' In the offshore non-delivera,le forwards$ the one-!onth ontra t was at 53'52$ while the three!onth was at 5.'10' In the &rren " f&t&res !ar:et$ the !ost-traded near-!onth dollarIr&pee ontra ts on the National +to : ?2 hange$ the #<J-+J and the Knited +to : ?2 hange all losed at a,o&t 53'.1 with a total traded vol&!e of @5 ,illion' 5e&ters

5'No:ia$ +a!s&ng$ +on" are Indias !ost-tr&sted ,rands: report

#&!,ai: No:ia$ +a!s&ng and +on" are Indias three !ost-tr&sted ,rands this "ear$ a ording to the ;rand %r&st 5eport 2013' No:ia leads the ran:ing for the third straight "ear$ while +a!s&ng and +on" have li!,ed two positions fro! last "ear to o &p" the se ond and third slots' ;#7 has !ade signifi ant progress$ li!,ing 20 ran:s to ,e o!e Indias fo&rth !ost-tr&sted ,rand' %ata slipped three positions to fifth after ,eing in the se ond pla e in the previo&s two "ears' Godre4 is Indias si2th !ost-tr&sted ,rand$ having !oved &p five ran:s fro! last "ear$ and 5elian e ran:s seventh having gained three positions over 2012' ;a4a4 slipped to n&!,er eight fro! the seventh position in the previo&s "ear$ *irtel !aintained its position at n&!,er nine and 9G is Indias 10th !ost-tr&sted ,rand$ losing seven ran:s fro! last "ear' %he ;rand %r&st 5eport$ India +t&d"$ 2013$ is the third in its series and this "ear the report lists 1$100 !ost-tr&sted ,rands in India a ross 211 ategories' %he report$ released on %&esda"$ in l&des pri!ar" resear h ,ased on /1 attri,&tes alled the ,rand tr&st !atri2' %he resear h was ond& ted a!ong 2$505 infl&en er-respondents fro! 1/ ities and generated !ore than three !illion data points' %r&st 5esear h *dvisor"$ a part of the <o!nis ient Gro&p$ prepares the ;rand %r&st 5eport' /'*irtel introd& es 2G internet plan with &nli!ited &sage

ndias leading tel o *irtel has la&n hed the latest Knli!ited #o,ile internet pa : for its 2G Prepaid !o,ile &sto!ers a ross India' %he speed of this &nli!ited plan will ,e provided thro&gh 8air Ksage Poli " )8KP- to *irtels all new and e2isting &sers' *irtel ons&!ers an avail the plan for 5s' 1.1 for a period of 30 da"s' %he new GP5+ pa : offers 2G; of 2G Data$ ,e"ond whi h the #o,ile Internet speed is red& ed to .0 C,ps' %he &sto!ers will ,e a,le to ontin&e ,rowsing and download fro! the Internet over the ons&!ption of 2G data witho&t an" in re!ental harges' %his new plan is now availa,le for p&r hase at all *irtel o&tlets for Prepaid !o,ile &sto!ers' 0'Aero #oto<orpLs wor:ers see: 5s 1 la:h per !onth salar"

N?7 D?9AI: 7or:ers negotiating a wage settle!ent at Aero #oto<orp;+? -1'30 % have de!anded do&,ling of !onthl" salar" to near 5s 1 la:h$ apart fro! other ,enefits li:e s&,sidiDed ho&sing as well as interest-free loans r&nning &p to 5s 10 la:h' If !et$ the shop floor wor:ers at the ,i:e !a4or will perhaps ,e the highest paid in the a&to ind&str" and even a!ong other !an&fa t&ring &nits' %he o!pan" !anage!ent$ however$ is in no !ood to relent$ fearing an" Mradi alM hange in in re!ent levels will not onl" !a:e the ,&siness of Aero #oto<orp &ns&staina,le$ ,&t also that of its s&ppliers$ dealers as well as other &nits in the G&rgaon-Dhar&hera ind&strial ,elt in Aar"ana' *n e2perien ed shop floor wor:er at Aero #oto<orp &rrentl" has a <%< ) ost-to- o!pan",etween 5s .0$000 and 5s 50$000' %he la,o&r &nion$ now in pro ess of thrashing o&t a new three-"ear wage agree!ent with the o!pan" !anage!ent$ has so&ght an in re!ent of aro&nd 5s .5$000$ so&r es in the Aar"ana la,o&r depart!ent told %6I' %his is a!ong the vario&s de!ands raised ," the la,o&r &nion in the harter of de!ands it has presented ,efore the o!pan" !anage!ent and the state la,o&r depart!ent' M%he in re!ent so&ght is 5s .5$000$ whi h will ,e spread over a three-"ear period' *part fro! this$ the wor:ers have de!anded 5s 10 la:h in interest-free loans$M the so&r es said$ adding that &rrentl" the wor:ers an avail 5s / la:h loan at a no!inal .% rate of interest' In the harter of de!ands$ the

wor:ers have also as:ed for a li!itless !edi al poli " over' %he" also de!anded a s&,sidiDed ho&sing fa ilit" in the region$ whi h is one of the !ost-e2pensive real estate destinations in the o&ntr"' 6ther de!ands in l&de gifts on vario&s o asions$ the so&r es said' 7hen onta ted$ a spo:esperson for Aero #oto<orp de lined to o!!ent on the !atter' Ind&str" anal"sts said the de!ands !ade ," la,o&r &nions are often e2aggerated sin e wor:ers want to ,argain on the! later' MIt is li:e appl"ing for a anon with the hope of getting a revolver$M said a senior offi ial who had ,een head of a large !an&fa t&ring &nit earlier' M%he" :now that the negotiations will ,e hard and there has to ,e a give-and-ta:e'M

Aero #oto<orpLs wor:ers are not an e2 eption in !a:ing tall de!ands$ and a si!ilar wish-list was presented ," wor:ers of #ar&ti;+? -0'0/ % +&D&:iLs #anesar &nit d&ring their wage negotiations last "ear' %he wor:ers not onl" so&ght a fo&r-fold hi:e in gross salar"$ ,&t also heaper ho!e loans$ gifts with ever" arLs la&n h and holida"s ,e"ond those stip&lated' *nd while these loft" de!ands were not !et$ the wor:ers still !anaged to wal: ho!e with an attra tive deal - a salar" in re!ent of nearl" 00%$ interest-free personal loans and higher !edi al ,enefits' * top Aero offi ial$ while de lining to o!!ent on spe ifi wage de!ands$ said the o!pan" has to :eep in !ind its own s&staina,ilit" as well as those related to it while wor:ing o&t new wages' M%he" have a right to growth$ ,&t this growth sho&ld ,e s&staina,le for the o!pan"$ for its s&ppliers$ its dealers and the region it operates in$M *nadi Pande$ GP ) orporate planning N strateg"$ <orporate A5-$ told %6I' Pande said the Aero !anage!ent ,elieves in adhering to the M3+ philosoph"M when wor:ing o&t an" s& h agree!ents' MIt has to ,e stead"F s&staina,leF and sensi,le'M AeroLs Dhar&hera plant wor:ers had re eived an in re!ent of 5s /$500 in the wage revision in 2011$ and this was spread over a three-"ear period' Pande said that the previo&s two in re!ents at the plant were 5s .$000 and aro&nd 5s 2$300' M*n" radi al shift now will lead to a s&per-radi al shift' Is it s&staina,leOM Ind&str" anal"sts said the Aero !anage!ent is worried that if it gives a higher wage in re!ent to the G&rgaon wor:ers$ then there !a" ,e de!ands to re-visit the 2011 wage pa t with Dhar&hera wor:ers that originall" o!es &p for renewal in 201.' MIt !a" lead to f&rther la,o&r &nrest for the o!pan"'M *nother offi ial wor:ing in the region said the wor:ers are getting over-a!,itio&s in their de!ands after hearing the plans of the o!pan" !anage!ent for new invest!ents$ in l&ding their plans to e2pand glo,all"' 3'*sho: 9e"land sales in rease 2'53 per ent in Ban&ar" <hennai: <o!!er ial vehi le !a:er *sho: 9e"land reported a 2'53 per ent in rease on its total sales in Ban&ar" at 10$5/1 &nits' %he Aind&4a Gro&p o!pan" had sold 10$300 &nits d&ring the sa!e !onth of previo&s "ear' In a state!ent$ the o!pan" said for the period *pril to Ban&ar" 2013$ the o!pan" witnessed a 13 per ent 4&!p on its sales to 10$5./ &nits fro! 0/$/21 &nits sold in the sa!e period of previo&s "ear' In Ban&ar" 2013$ the sales of its latest s!all o!!er ial vehi le LD6+%L witnessed over 200 per ent 4&!p to 3$/13 &nits fro! 1$100 &nits sold in the sa!e !onth of last "ear' In *pril 2012 to Ban&ar" 2013 period$ the o!pan" had sold 20$511 &nits of D6+% range of +<Gs as against 3$300 &nits sold in the orresponding period of previo&s "ear' 6n sales of o!!er ial vehi les$ it said$ the o!pan" witnessed a 25 per ent de line to /$3/3

&nits in Ban&ar" 2013 fro! 1$200 &nits sold in the sa!e !onth of previo&s "ear' 8ro! *pril 2012 to Ban&ar" 2013$ the o!pan" had witnessed a 1. per ent de line on its sales of o!!er ial vehi les to /2$155 &nits fro! 02$321 &nits in the "ear ago period'

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