#durable good

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U.S. durable goods orders hit record high in July

WASHINGTON, Aug. 26 (Xinhua) — New orders for U.S. manufactured durable goods registered the biggest monthly gain on record in July thanks to strong demand for transportation equipment, the U.S. Commerce Department reported Tuesday.

Orders for durable goods increased 22.6 percent to 300.1 billion U.S. dollars in July following a growth of 2.7 percent in June. The increase, up five of the last six…

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US stocks higher as Wall Street considers durable goods

US stocks higher as Wall Street considers durable goods

US stocks higher as Wall Street considers durable goods

NEWSCANADA-PLUS                            BUSINESS   NEWS  – 

U.S. stocks rose on Wednesday, with benchmark indexes extending gains into a second day, after data showed orders for longer-lasting products gained more than expected even as corporate spending on equipment declined.

  Read more: http://www.cnbc.com/id/101526830

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New Post has been published on Corporate Law Reporter

For those who missed this: Repost http://corporatelawreporter.com/2013/10/06/government-decides-principle-enhance-amount-capital-infused-public-sector-banks/

Government Decides in Principle to Enhance the Amount of Capital to be Infused into Public Sector Banks

Government Decides in Principle to Enhance the Amount of Capital to be Infused into Public Sector Banks; Additional Amount of Capital to be Provided to Enable Banks to Lend to Borrowers in Selected Sectors at Lower Rates to Stimulate Demand; Expected to Give a Boost to Capacity Addition, Employment and Production

The Central Government has decided in principle to enhance the amount of capital to be infused into Public Sector Banks (PSBs). It may be recalled that in the Budget for 2013-14, a sum of Rs. 14,000 crore was provided for capital infusion. This amount will be enhanced sufficiently.

The additional amount of capital will be provided to banks to enable them to lend to borrowers in selected sectors such as two wheelers, consumer durables etc, at lower rates n order to stimulate demand. While this will bring relief to the consumers, especially the middle class, it is also expected to give a boost to capacity addition, employment and production.

This decision is based on the discussions between Dr. Raghuram Rajan, Governor, Reserve Bank of India (RBI) and the Union Finance Minister, Shri P. Chidambaram when Dr Rajan called on the Finance Minister here today this morning. Secretary, Department of Economic Affairs, Shri Arvind Mayaram was also present on the occasion.

The issue of credit growth in different sectors was discussed. At the end of September 2013, growth of Gross Bank Credit stood at about 18 per cent, year-on-year. However, credit growth is sluggish in some sectors leading to the conclusion that demand in these sectors remains subdued.

Based on the discussions, the Government has decided in principle to enhance the amount of capital to be infused into Public Sector Banks.

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New Post has been published on Corporate Law Reporter

New Post has been published on http://corporatelawreporter.com/2013/06/15/clr-snippets-minister-statement-on-current-index-of-industrial-production/

CLR Snippets | Minister Statement on current Index of Industrial Production

Shri Srikant Kumar Jena, Minister of State (Independent charge), Ministry of Statistics & Programme Implementation announced the release of the monthly Quick Estimates of Index of Industrial Production (IIP) for the month of April 2013 compiled by the Central Statistics Office. The index is a composite indicator that measures the short term changes in the volume of industrial production. According to the index, the industrial growth for the month of April 2013 over the corresponding month of the previous year is 2.0%. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are (-) 3.0%, 2.8% and 0.7% respectively. The Minister further added that as per “use-based” classification there has been positive growth in basic goods [1.3%], capital goods (1.0%), intermediate goods [2.4%] and consumer non-durables (12.3%) whereas negative growth has been registered in consumer durables [(-) 8.3%].

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New Post has been published on http://corporatelawreporter.com/2013/06/12/index-of-industrial-production-and-use-based-index-for-the-month-of-april-2013/

Index of Industrial Production and use-Based Index for the Month of April, 2013

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of April 2013 have beenreleased by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. IIP is compiled usingdata 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 SaltCommissioner and Coffee Board.

2. The General Index for the month of April 2013 stands at 167.3, which is 2.0% higher as compared to the level in the month of April 2012. The cumulative growth for the period April-March 2012-13 over the corresponding period of the previous year stands at 1.1%.

3. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of April 2013 stand at 121.0, 177.8 and 153.8 respectively, with the corresponding growth rates of  (-) 3.0%, 2.8% and 0.7% as compared to April 2012 (Statement I). The cumulative growth in the three sectors during April-March 2012-13 over the corresponding period of 2011-12 has been (-) 2.4%, 1.2% and 4.0% respectively.

4. In terms of industries, thirteen (13) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in themanufacturing sector have shown positive growth during the month of April 2013 as compared to the correspondingmonth of the previous year (Statement II). The industry group ‘Wearing apparel; dressing and dyeing of fur’ has shown the highest positive growth of 86.6%, followed by 25.4% in ‘Electrical machinery and apparatus n.e.c.’ and 19.9% in ‘Furniture; manufacturing n.e.c.’. On the other hand, the industry group ‘Office, accounting & computing machinery’ has shown a negative growth of 38.9% followed by 28.1% in ‘Radio, TV and communication equipment & apparatus’ and 12.0% in ‘Medical, precision & optical instruments, watches & clocks’.

5. As per Use-based classification, the growth rates in April 2013 over April 2012 are 1.3% in Basic goods, 1.0% inCapital goods and 2.4% in Intermediate goods (Statement III).  The Consumer durables and Consumer non-durables have recorded growth of (-) 8.3% and 12.3% respectively, with the overall growth in Consumer goods being 2.8%.

6. Some of the important items showing high positive growth during the current month over the same month inprevious year include ‘Woollen Carpets’ (172.3%), ‘Apparels’ (96.4%), ‘Naphtha’ (25.1%), ‘Vitamins’ (136.6%), ‘PVC Pipes and Tubes’ (36.9%), ‘Conductor, Aluminium’ (47.8%) ‘Cable, Rubber Insulated’ (98.3%), ‘Three-wheelers (including passenger and goods carrier’ (21.4%), ‘Gems and Jewellery’ (24.5%) and ‘Pens of all kind’ (36.8%).

7. Some of the other important items showing high negative growth are: ‘Cigarettes’ [(-) 37.8%], ‘Terry Towel’ [(-) 21.8%], ‘Di Ammonium Phosphate (DAP)’ [(-) 44.7%], ‘Grinding Wheels’ [(-) 29.6%], ‘Copper and Copper Products’ [(-) 47.0%], ‘Boilers’ [(-) 47.3%], ‘Heat Exchangers’ [(-) 47.9%], ‘Earth Moving Machinery’ [(-) 32.8%], ‘Sugar Machinery’ [(-) 79.2%], ‘Plastic Machinery Incl. Moulding Machinery’ [(-) 39.4%], ‘Computers’ [(-) 41.7%] and ‘Telephone Instruments including Mobile Phones & Accessories’ [(-) 30.9%].

8. Along with the Q.E. of IIP for the month of April 2013, the indices for March 2013 have undergone the firstrevision and those for January 2013 have undergone the final revision in the light of the updated data received fromthe source agencies. It may be noted that these revised indices (first revision) in respect of March 2013 shall undergo final (second) revision along with the release of IIP for the month of June 2013.

9. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of NationalIndustrial Classification (NIC-2004) and by Use-based classification for the month of April 2013, along with the growthrates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.