Latest Business News from Economic Initiatives for dated 11-01-2013
Total Rabi Sown Area Reaches 581 Lakh Hectares
As per latest reports received from states, rabi crops have been sown in nearly 580.83 lakh hectare as compared to 578.34 lakh ha at this time last year.
The details of the area covered so far and that covered during this time last year are given below: -
(Area in lakh hectare)
India’s Foreign Trade: December, 2012
EXPORTS (including re-exports)
Exports during December, 2012 were valued at US $ 24877.57 million (Rs. 135950.47 crore) which was 1.92 per cent lower in Dollar terms (1.75 per cent higher in Rupee terms) than the level of US $ 25365.69 million (Rs. 133618.61 crore) during December, 2011. Cumulative value of exports for the period April-December 2012 -13 was US $ 214099.77 million (Rs 1166438.69) as against US $ 226551.09 million (Rs 1066668.31 crore) registering a negative growth of 5.50 per cent in Dollar terms and growth of 9.35 per cent in Rupee terms over the same period last year.
Imports during December, 2012 were valued at US $ 42549.50 million (Rs.232523.66 crore) representing a growth of 6.26 per cent in Dollar terms and 10.23 per cent in Rupee terms over the level of imports valued at US $ 40044.06 million ( Rs. 210939.69 crore) in December, 2011. Cumulative value of imports for the period April-December, 2012-13 was US $ 361271.88 million (Rs. 1967521.83 crore) as against US $ 363867.81 million (Rs. 1714432.42 crore) registering a negative growth of 0.71 per cent in Dollar terms and growth of 14.76 per cent in Rupee terms over the same period last year.
CRUDE OIL AND NON-OIL IMPORTS:
Oil imports during December, 2012 were valued at US $ 14429.7 million which was 23.56 per cent higher than oil imports valued at US $ 11678.7 million in the corresponding period last year. Oil imports during April-December, 2012-13 were valued at US $ 124520.8 million which was 12.18 per cent higher than the oil imports of US $ 111002.9 million in the corresponding period last year.
Non-oil imports during December, 2012 were estimated at US $ 28119.8 million which was 0.87 per cent lower than non-oil imports of US $ 28365.4 million in December, 2011. Non-oil imports during April - December, 2012-13 were valued at US $ 236751.1 million which was 6.37 per cent lower than the level of such imports valued at US $ 252864.9 million in April - December, 2011-12.
The trade deficit for April - December, 2012-13 was estimated at US $ 147172.11 million which was higher than the deficit of US $ 137316.72 million during April -December, 2011-12.
14 FDI Proposals amounting to Rs. 1310.60 Crore Approved by FIPB
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 21, 2012, the Government has approved 14 proposals of Foreign Direct Investment (FDI) amounting to Rs. 1310.60 crore approximately.
Following fourteen (14) proposals have been approved.
INDUSTRIAL POLICY & PROMOTION
2. The following six (6) proposals have been deferred:
3. The following three (3) proposals have been rejected:
4. The following one (1) proposal has been withdrawn from the Agenda:
5. Decision in the following five (5) proposals will be communicated separately:
Global crude oil price of Indian Basket increases to 109.74 US$/bbl on 10.01.2013
The international crude oil price for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went up to US$ 109.74/barrel (bbl) on 10.01.2013. This was higher than the price of US$ 109.57//bbl prevailing on the previous trading day of 09.01.2013.
In rupee terms however, the crude oil price fell below Rs 6000 mark to Rs 5995.10/bbl on 10.01.2013 from Rs 6021.97/bbl on 09.01.2013. This was due to rupee appreciation with rupee dollar-exchange rate on 10.01.2013 at Rs 54.63/US$ against Rs 54.96/US$ on 09.01.2013.
The table below gives details in this regard:
RCJ/RKS –Daily Crude oil price- 11.01.2013
Quick Estimates of Index of Industrial Production and Use-Based Index for the Month of November, 2012 (Base 2004-05=100)
The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of November 2012 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.
2. The General Index for the month of November 2012 stands at 167.3, which is 0.1% lower as compared to the level in the month of November 2011. The cumulative growth for the period April-November 2012-13 over the corresponding period of the previous year stands at 1.0%.
3. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2012 stand at 121.7, 178.3 and 149.1 respectively, with the corresponding growth rates of (-) 5.5%, 0.3% and 2.4% as compared to November 2011 (Statement I). The cumulative growth in the three sectors during April-November 2012-13 over the corresponding period of 2011-12 has been (-) 1.5%, 1.0% and 4.4% respectively.
4. In terms of industries, thirteen (13) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown negative growth during the month of November 2012 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Publishing, printing and reproduction of recorded media’ has shown the highest negative growth of 22.1%, followed by 21.8% in ‘Office, accounting and computing machinery’ and 18.9% in ‘Wood and products of wood & cork except furniture; articles of straw & plating materials’. On the other hand, the industry group ‘Electrical machinery and apparatus n.e.c.’ has shown a positive growth of 25.1% followed by 15.7% in ‘Luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products’ and 15.3% in ‘Radio, TV and communication equipment and apparatus’.
5. As per Use-based classification, the growth rates in November 2012 over November 2011 are 1.7% in Basic goods, (-) 7.7% in Capital goods and (-) 1.1% in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of 1.9% and 0.3% respectively, with the overall growth in Consumer goods being 1.0%.
6. Some of the important items showing high negative growth during the current month over the same month in previous year include ‘Block Board’ [(-) 27.1%], ‘Newspapers’ [(-) 22.7%], ‘Furnace Oil’ [(-) 28.0%], ‘PVC Pipes & Tubes’ [(-) 33.1%], ‘Grinding wheels’ [(-) 43.7%], ‘Stampings & Forgings’ [(-) 28.2%], ‘Razor Blades/Safety Blades’ [(-) 28.4%], ‘Air Conditioner (Room)’ [(-) 36.6%], ‘Tractors’ [(-) 20.5%], ‘Drilling Equipment’ [(-) 57.7%], ‘Plastic Machinery incl. Moulding Machinery’ [(-) 40.4%] and ‘Commercial Vehicles’ [(-) 28.3%].
7. Some of the other important items showing high positive growth are: ‘Rice’ (21.3%), ‘Cotton Yarn’ (21.9%), ‘Petroleum Coke’ (82.4%), ‘Antibiotics & its Preparations’ (28.4%), ‘Carbon Steel’ (18.8%), ‘Stainless/ Alloy Steel’ (19.7%), ‘CR Sheets’ (34.1%), ‘HR Coils/ Skelp’ (24.3%), ‘Conductor, Aluminium’ (78.7%), ‘Cable, Rubber Insulated’ (45.3%) and ‘Telephone Instruments including Mobile Phones and Accessories’ (18.1%),.
8. Along with the Q.E. of IIP for the month of November 2012, the indices for October 2012 have undergone the first revision and those for August 2012 have undergone the final revision in the light of the updated data received from the source agencies. It may be noted that these revised indices (first revision) in respect of October 2012 shall undergo final (second) revision along with the release of IIP for the month of January 2013.
9. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC-2004) and by Use-based classification for the month of November 2012, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.
Chiranjeevi Announces Campaign “Land of Pi”
Recognizing the importance of cinema as a powerful tool for the development and promotion of various tourist destinations, Union Tourism Minister Shri K. Chiranjeevi announced, several initiatives for promoting “Film Tourism” through films shot in India. Announcing this in New Delhi today the Minister said that a “Land of Pi” campaign would be launched soon across all media, including print, online, electronic and outdoor, to promote Puducherry and Munnar as tourist destinations. The highlights of the campaign will be :
· “Land of Pi” posters produced by Tourism Ministry will be displayed worldwide through the Indiatourism offices overseas. These would also be put on the “Incredible India” website and the websites of the Puducherry and Kerala Tourism Departments.
· Luxury buses plying between Chennai and Puducherry and Kochi and Munnar will be branded with “Land of Pi” creatives.
· Special “Land of Pi” tours and walking trails will be organized for tourists visiting Puducherry and Munnar . Maps depicting these tours have already been produced.
· Short films and virals on the tourist attractions in Puducherry and Munnar which have been depicted in the film have been created and one being put on Youtube and other Social Media networks.
· “Land of Pi” contests will be organized online, with two prizes given every month. The prize would be a holiday package to Puducherry or Munnar, including air tickets to Chennai / Kochi and local hospitality.
· A boat that hints at “Life of Pi”, with a stuffed toy tiger will be permanently placed at two prominent locations in Puducherry, to provide a photo opportunity to visiting tourists. One location will be a child-safe shallow water near Puducherry’s Paradise Island and the other the soon-to-be-inaugurated Puducherry airport.
· T’shirts and caps branding the two lands of Pi will be produced and distributed.
· Online video games will be made as part of the campaign.
· The campaign will be undertaken in English as well as in French, German, Chinese, Spanish and Japanese.
· Road shows for promoting tourism to the country will be organized in China and Taiwan, where the film “Life of Pi” has been very well received. Mr. Ang Lee is of Taiwanese origin.
The widely acclaimed film “Life of Pi” has been partly shot in the beautiful locales of Puducherry (Pondicherry) and Munnar in Kerala. In order to enable viewers of the film to visit the two regions shown in the film, Shri Chiranjeevi held a meeting last month with the Secretaries of Tourism of Puducherry and Kerala along with Tour Operators of the region, immediately after it was observed that the film had highlighted awareness of the two regions.
Shri K. Chiranjeevi has already announced special National Tourism Awards for Mr. Ang Lee, Director and Mr. Yann Martel, author of the Book “Life of Pi”, for promoting India through the film.
Source:- Press Information Bureau
Page Edited by : Syed Zahid Ahmad