ASSOCHAM Economic Weekly
Transcript of ASSOCHAM Economic Weekly
Assocham Economic Research Bureau
THE ASSOCIATED CHAMBERS OF COMMERCE AND INDUSTRY OF INDIA
ASSOCHAM Economic Weekly
29th
September, 2013 1
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Contents
1. Macroeconomy
1.1 Report on Evolving a Composite Development Index of States
1.2 India Rural Development Report 2012/13
1.3 First Advance Estimates of Crop Production
1.4 India-US Joint Declaration on Defence Cooperation
2. Corporate Sector
2.1 TRAI Releases Recommendations on Full Mobile Number Portability
2.2 Performance of the Private Corporate Business Sector during Q1 2013-14
2.3 Use of Importer-Exporter Code Number Allotted to Importers/Exporters by DGFT
3. Market Trends
4. Global Developments
4.1 UK Index of Services, July 2013 4.2 China’s Industrial Profits from Principal Business Increased
4.3 US Multifactor Productivity Increases
5. Data Appendix
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1. Macroeconomy
1.1 Report on Evolving a Composite Development Index of States
The Raghuram Rajan Committee for Evolving a Composite Development Index for States has
recommended that each State may get a fixed basic allocation of 0.3 percent of overall funds, to
which will be added its share stemming from need and performance to get its overall share.
The Committee has come-up with a Multi dimensional Index of backwardness based on per capita
consumption as measured by the NSSO, the poverty ratio, and a number of other measures which
correspond to the multi dimensional approach to defining poverty outlined in the Twelfth
Plan. The Committee has recommended that States that score 0.6 and above on the Index may be
classified as ―Least Developed”; States that score below 0.6 and above 0.4 may be classified as
―Less Developed”; and States that score below 0.4 may be classified as “Relatively Developed”.
The Committee has observed that the demand for funds and special attention of different States
will be more than adequately met by the twin recommendations of the basic allocation of 0.3
percent of overall funds to each State and the categorisation of States that score 0.6 and above as
―Least Developed” States. According to the Committee, these two recommendations, along with
the allocation methodology, effectively subsume what is now ―Special Category‖.
Using the index, the Committee has identified the ―Least Developed” States as Arunachal
Pradesh, Assam, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Meghalaya, Odisha, Rajasthan
and Uttar Pradesh.
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The Prime Minister has also directed that the recommendations of the Committee may be
examined and necessary action in this behalf may be taken.
Please refer to Table 1:
Table 1
Underdevelopment/ Need Index
State Underdevelopment/ Need Index
Odisha 0.798
Least Developed
Bihar 0.765
Madhya Pradesh 0.759
Chhattisgarh 0.752
Jharkhand 0.746
Arunachal Pradesh 0.729
Assam 0.707
Meghalaya 0.693
Uttar Pradesh 0.638
Rajasthan 0.626
Manipur 0.571
Less Developed
West Bengal 0.551
Nagaland 0.546
Andhra Pradesh 0.521
Jammu & Kashmir 0.504
Mizoram 0.495
Gujarat 0.491
Tripura 0.474
Karnataka 0.453
Sikkim 0.43
Himachal Pradesh 0.404
Haryana 0.395
Relatively Developed
Uttarakhand 0.383
Maharashtra 0.352
Punjab 0.345
Tamil Nadu 0.341
Kerala 0.095
Goa 0.045 Source: Ministry of Finance
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1.2 India Rural Development Report 2012/13
The Report provides a comprehensive landscape of rural India, covering debates on topical issues,
providing empirical analyses and synthesising literature across a spectrum of issues including
regional disparity and deprivation; the changing nature of livelihoods; sustainability of natural
resources; and the changing role of the state and local self-governance. It reviews all major central
government rural programmes and schemes and, in particular, the flagship MGNREGA. It will be
a valuable resource for policy makers, state and local bodies, researchers and the private sector.
The Report highlights the need to develop new strategies for farm livelihoods.
Income from farm livelihoods is no longer sufficient for a household, especially for smaller
and marginal farmers, who make up 85 percent of farm holdings, and for dryland farmers
that occupy more than half the cultivated area.
Need to encourage new crop models for them, and revive traditional crops like millets, that
suit drylands. Cultivation of different varieties of millets, which are hardy and nutritious, can
be promoted by procuring and distributing through the public distribution system (PDS).
Various types of collective farming have helped small farmers overcome problems of scale,
insecure land tenancy and poor access to credit, modern supply chains and storage.
Nearly 2 million farmers in Andhra Pradesh have successfully adopted community-managed
sustainable agriculture (CMSA), significantly reducing their cost of cultivation and soil
toxicity by doing away with chemical inputs while increasing or maintaining yields.
Water efficiency in farming is also critical as 80 percent of water use is for agriculture.
Water must be considered a community resource and the management of both ground and
surface water must be looked at holistically across all uses of water.
Non-farm income sources are increasingly important – 43 percent of rural families rely on
non-farm employment as their major income source.
Indian rural households are typically pluri active, combining work on their own farm, with
that on others’ farms, animal husbandry, and commuting or migrating to undertake non-farm
activities in villages, towns or cities.
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Non-farm employment offers better wages and social mobility for lower castes to move out
of agricultural labour. There is also some evidence that higher non-farm wages have helped
increase agricultural wages.
Non-farm work is predominantly casual in nature with most work in the construction and
trade sectors. Even manufacturing employment has become increasingly informal over time.
This denies workers job security and benefits of formal employment.
Must tackle the important barriers to non-farm livelihoods - lack of access to credit,
marketing and skills. Financing skill training is difficult: trainees are not assured job
placement or higher wages, and employers find training not relevant or employee retention
difficult. While some projects have worked scalable solutions are needed.
Recently, the government launched Aajeevika – aimed at skill development, assisting the
poor set up small businesses and expanding access to capital through SHGs.
Poverty, though reducing, is increasingly concentrated amongst certain regions and social
groups.
In 1993–94, nearly 50 per cent of the rural poor lived in seven states — Jharkhand, Bihar,
Assam, Odisha, Chhattisgarh, Madhya Pradesh and Uttar Pradesh. This rose to 65 percent in
2011–12, though states like Bihar, Chhattisgarh and Uttar Pradesh have reduced poverty
significantly since 2009-10.
These states, along with Rajasthan, also fare worst on education learning levels, child and
maternal health, and poor penetration of healthcare services.
Only 18 percent of rural households have access to all three basic services – drinking water
within premises, sanitation and electricity – and 20 percent have none of them.
Almost all the bottom two quintiles of districts in terms of access to the three basic services
are in Rajasthan and the seven states excluding Assam. There are also pockets of deprivation
in richer states, such as Andhra Pradesh, Maharashtra and Karnataka, which are mostly
in dryland areas.
Poverty is markedly higher among scheduled castes (SCs) and scheduled tribes (STs) who
together constituted 44 percent of the rural poor in 2009-10.
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Despite progressive legislation, SCs and STs continue to face discrimination, limiting their
participation in economic, social and political spheres. They have the highest rates of
malnutrition, child mortality, and access to public health services. STs fare the worst.
Government spending on productivity-enhancing infrastructure has a more significant and
lasting impact on poverty reduction than spending on subsidies.
Village-level connectivity has improved, especially roads, electricity and
telecommunications. Yet results are not commensurate with government expenditure.
Household-level access is poor, especially for the most vulnerable, and infrastructure assets
are often of poor quality, incomplete, unusable or badly maintained.
Almost all villages are connected to the grid, but 45 percent of rural households lack
electricity connections. Electricity supply is often unreliable and water supply unavailable or
polluted. Almost 70 percent rural households lack sanitation facilities.
Also, in education, nutrition and health, service delivery is marred by widespread
absenteeism of government healthcare providers and teachers, leading to poor outcomes.
Learning from past experience, government approaches are changing and must include:
Community ownership of assets: Some communities have successfully monitored
drinking water quality, ensured equitable access and maintenance of assets built.
Maintenance: PMGSY has built all-weather quality roads, with maintenance built
into the construction contract. States must set aside funds to budget for maintenance.
Change in targeting approach. The 2011 Socio-Economic and Caste Census, has
collected information on a range of deprivation indicators, is verified by the
gramsabha.
Greater flexibility under schemes for states and PRIs to adapt to local conditions.
Addressing institutional fragmentation, streamlining responsibilities between
ministries and between state and local governments, and greater convergence in
scheme delivery.
Incentivising private provision where possible: Just as competition expanded reach
and affordability of telecoms in urban areas needs to be replicated in rural areas by
using the universal service obligation fund to encourage private competition in rural
telephony.
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Improve transparency and accountability of public service delivery through social
audits or public checks by the gram sabha. Increased use of performance-based
incentives and conditional cash transfers could also significantly improve outcomes.
Panchayati Raj Institutions (PRIs) were envisioned to create more participatory, accountable
and resource-efficient governance but they have not succeeded for several reasons.
States need to devolve more funds, support staff and functions as well as ensure regular
revenue flows to PRIs. They must also clarify and assign responsibilities to avoid overlap
with parallel agencies, and strengthen capacity building of PRIs.
Interference by local elites and corruption could be addressed by increasing
gram sabha awareness on participation rights, and social audits.
MGNREGA has provided an average of 40-50 days of employment per year to about 25
percent of all rural households making it the largest public works programme in India’s
history.
Self-targeting has worked to an extent, as the Scheme has served more poor and
disadvantaged households, women, SCs and STs, than better-off households.
It has helped empower women by providing them employment on equal terms. Women
account for almost half the total person days of employment under MGNREGS.
The Scheme has contributed to reducing poverty, both directly as well as indirectly, by
putting upward pressure on agricultural wages.
But the programme has inadequate coverage amongst the needy (despite their demand for
work) especially in those states that have a high incidence of poverty, possibly reflecting
weaker governance in those states. Other issues that must be dealt with urgently are delays
in providing work and in wage payments, and shortage of engineering staff.
MGNREGA holds considerably more potential which can be unlocked by ensuring that
good quality assets are built and there is more active participation by the gram sabha which
strengthens local government.
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1.3 First Advance Estimates of Crop Production
As per the first advance estimates of production of kharif crops, 129.32 million tonnes
(MT) foodgrains is likely to be produced in the current season. These production estimates are
higher by 8.75 million tonnes than the average production of 120.57 million tonnes.
The estimated production of major crops during kharif 2013-14 is as under:
CROP PRODUCTION ( million tonnes)
Foodgrains 129.32
Rice 92.32
Coarse Cereals: 30.99
Maize 17.78
Pulses: 6.01
Tur 3.04
Urad 1.33
Oilseeds 23.96
Sugarcane 341.77
Cotton 35.30 million bales (170 kg each)
Source: PIB, 24 September, 2013
As per 1st advance estimates, production of rice estimated at 92.32 million tonnes, though
marginally lower as compared to last year’s kharif production, is higher than five years’ average
production of 85.40 million tonnes. The estimated production of coarse cereals, is however, higher
than average production by 1.50 million tonnes mainly on account of increase in production of
maize.
The estimated production of Kharif Pulses is also higher than the average production by 0.42
million tonnes mainly due to higher than average production of tur and urad.
There is a significant improvement in the production of soyabean, and total production
of kharif oilseeds, estimated at an all time record of 23.96 million tonnes is higher than the
average production by 4.56 million tones.
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The current year’s production of sugarcane estimated at 341.77 million tonnes, is higher by 17.83
million tonnes as compared to average production. The production of cotton estimated at an all
time record of 35.30 million bales (of 170 kg each), has registered an increase of 5.60 million
bales as compared to average cotton production of 29.70 million bales. Production of jute is also
estimated to be marginally higher than its average production.
1.4 India-US Joint Declaration on Defence Cooperation
India-United States defence cooperation and engagement has increased significantly over the past
decade, in step with the overall deepening of India-US relations. In this context, India and the
United States endorse the following general principles for fulfilling this vision:
The United States and India share common security interests and place each other at the
same level as their closest partners. This principle will apply with respect to defence
technology transfer, trade, research, co-development and co-production for defence articles
and services, including the most advanced and sophisticated technology. They will work to
improve licensing processes, and, where applicable, follow expedited license approval
processes to facilitate this cooperation. The U.S and India are also committed to protecting
each other’s sensitive technology and information.
The U.S. continues to fully support India's full membership in the four international export
control regimes, which would further facilitate technology sharing.
The two sides will continue their efforts to strengthen mutual understanding of their
respective procurement systems and approval processes, and to address process-related
difficulties in defence trade, technology transfer and collaboration.
The two sides look forward to the identification of specific opportunities for cooperative
and collaborative projects in advanced defence technologies and systems, within the next
year. Such opportunities will be pursued by both sides in accordance with their national
policies and procedures, in a manner that would reflect the full potential of the
relationship.
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2. Corporate Sector
2.1 TRAI Releases Recommendations on Full Mobile Number Portability
In accordance with the provisions contained in the National Telecom Policy-2012 regarding ―One
Nation- Full Mobile Number Portability‖, TRAI received a reference from the DoT vide its letter
dated 27th Dec 2012, seeking the recommendations of TRAI under TRAI Act for implementing
full Mobile Number Portability i.e. MNP across licensed service areas.
The salient features of the recommendations are following:
a) After the Full Mobile Number Portability (inter-service area portability) is implemented
the Recipient Operator will forward the porting request to the MNPSP of the zone to
which original number range holder (the Telecom Service Provider to which the number
originally belonged before its first porting) belongs.
b) Telecom Service Providers will be given 6 months time for implementation of Full Mobile
Number Portability.
c) Some modifications have been suggested to the MNP service licence, to facilitate inter-
service area porting (Full MNP)
d) Testing Fee for testing the various scenarios in Full MNP may be reduced to 25% of the
current prescribed Fee for TSPs and MNPSPs.
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2.2 Performance of the Private Corporate Business Sector during Q1 2013-14
Sales growth (Y-o-Y) continued to decelerate and reached the post crisis low of 2.6 per
cent. Total expenditure growth also declined to 2.2 per cent mainly due to raw material
expenses contraction.
Earnings before Interest, Tax, Depreciation & Amortization (EBITDA or operating profits)
grew marginally by 1.1 per cent against near stagnation seen in the previous quarter.
However, net profit contracted for the second consecutive quarter. While EBITDA margin
remained range bound, net profit margin declined further.
Sales of the manufacturing sector remained almost stagnant with a growth of only 0.8 per
cent in Q1:FY14. EBITDA and net profits contracted and profitability in terms of
EBITDA and net profit margins worsened.
Sales growth for the non-IT services sector was lower than that of the previous quarter.
EBITDA recorded a meager growth of 1.3 per cent but net profit contracted. EBITDA and
net profit margins recorded some improvement.
Improvement in sales growth was noticed for the IT sector. EBITDA also grew at a higher
rate in comparison to the previous quarter. Net profit increased after contraction in
Q4:FY13. While EBITDA margin improved, net profit margin continued to decline.
Growth in the interest expenses recorded increase in Q1:FY14 at the aggregate level and
also for the manufacturing sector. Interest coverage ratio (Earnings before Interest &
Tax/Interest expenses) contracted for manufacturing and services (other than IT) sectors.
Decline in sales growth was spread across most of the industries. Sales contracted in the
motor vehicles, iron & steel, cement, coke & refined petroleum products and electrical
machinery and apparatus industries among the major industries. Cement, iron & steel and
construction industries witnessed significant contraction in EBITDA and net profit. Profit
margins contracted in all these industries. Interest coverage declined in most of the
industries.
Please refer to Table 2:
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Table 2
Performance of Non – Government Non-Financial Companies
Indicator
Q1FY13 Q4FY13 Q1FY14
Amount in
Rs. billion
Y-o-Y
Growth in
Per cent
Amount in
Rs. billion
Y-o-Y
Growth in
Per cent
Amount in
Rs. billion
Y-o-Y
Growth in
Per cent
Number of Companies 2,790 2,686 2,768
Sales 7167 13.4 7,773 4.2 7258 2.6
Value of Production(VOP) 7217 12.9 7,829 4.1 7273 2.1
Expenditure, of which 6302 15.8 6,849 4.7 6353 2.2
Cost of Raw Material 3436 13.4 3,710 2.6 3283 -2.7
Staff Cost 517 17.3 552 13.5 573 13.9
Power & fuel expenses 268 22.4 253 3.7 248 1.1
Operating Profits (EBITDA) 916 -3.7 979 -0.1 919 1.1
Other Income 159 29.5 196 -1.4 204 28.0
Depreciation 246 10.3 266 8.4 265 9.4
Gross Profits (EBIT) 828 -2.5 909 -2.6 858 3.9
Interest 282 37.9 280 10.9 303 12.1
EBT 546 -15.4 630 -7.7 555 -0.1
Tax Provision 161 -3.6 157 -2.5 157 0.8
Net Profit 424 -10.7 441 -16.0 376 -10.9 Source: RBI
2.3 Use of Importer-Exporter Code Number Allotted to Importers/Exporters by DGFT
As per Section 7 of The Foreign Trade (Development and Regulation) Act, 1992 read along with
Rule 12 of Foreign Trade (Regulation) Rules 1993, every person should make import or export
only with Importer-Exporter Code (IEC) Number allotted to him. This has been further amplified
by Para 2.9.2 of Hank Book of Procedures, Vol.I, 2009-14 which states that an IEC Number
allotted to an applicant is valid for all its branches/divisions/units/factories. Therefore, the IEC
Number cannot be used by anyone other than the IEC holder himself/herself, except in case
importers or exporters are exempted from obtaining IEC and who use permanent (common) IEC
Numbers under Para 2.8 of Hand Book of Procedures, Vol.I, 2009-14.
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It has been brought to the notice of the Directorate General of Foreign Trade that some
importers/exporters are effecting imports/exports by using IECs issued to others which is a
complete violation of provisions of the Foreign Trade Policy
The Directorate General of Foreign Trade vide their Policy Circular No. 6(RE-2013)/2009-2014
dated 16th
September, 2013 have cautioned the importers/exporters as well as all other stake
holders to comply with the provisions of FT(DR) Act and Rules made there under while using
their IEC Number. Non-compliance/violation of these provisions would attract action in the form
of suspension/cancellation of IEC or imposition of penalty, as appropriate, under the relevant
provisions of FT (DR) Act and Rules.
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3. Market Trends
BSE: The 30 share BSE Sensex decreased by 1.7 per cent and closed at 19,727.27
NSE: S & P CNX NIFTY decreased by 1.9 per cent and closed at 5833.20
Dollar: The value of Rupee appreciated by Rs. 0.7 against the US dollar during the
week and closed at Rs 61.81 per dollar.
Euro: The value of Rupee appreciated by Rs. 1.3 against the Euro and closed at Rs.
83.42 per euro.
Gold: Prices of gold increased by Rs. 474.91 per 10 grams during the week and closed
at Rs. 30269.29 per 10 grams.
Silver: Prices of silver increased by Rs. 523.48 during the week and closed at Rs.
50241.16 per kg.
Crude Oil: The prices of crude oil decreased by USD 1.4 and closed at USD 106.9 per
barrel.
Forex Reserves: India’s Foreign Exchange reserves increased by USD 2.0 billion to
USD 277.3 billion during the week-ended Sep, 20, 2013.
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4. Global Developments
4.1 UK Index of Services, July 2013
The Index of Services increased by 1.8% in July 2013 compared with July 2012. Three of the
four components of the services industries increased in the most recent month compared with
the same month a year ago.
The largest contributions came from business services & finance, which contributed 0.8
percentage points to total growth, and distribution, hotels & restaurants, which contributed 0.7
percentage points to total growth.
The latest Index of Services estimates show that output increased by 0.2% between June 2013
and July 2013, having been flat between May 2013 and June 2013.
Evidence suggests that the warm weather may have had a positive impact on overall output in
the services industries in July. In particular, Retail Sales, released on 15 August 2013,
highlighted that the sunny weather boosted sales across a range of products including food,
alcohol, clothing and outdoor items.
The Index of Services increased by 0.6% in Q2 2013 compared with Q1 2013. This figure is
unchanged from the previously published estimate used in the Second Estimate of Gross
Domestic Product (GDP) and is consistent with the estimate used in the Quarterly National
Accounts published on 26 September 2013.
In Q2 2013, the Index of Services was 0.3% below its peak level in Q1 2008, demonstrating
that almost all of the lost output in services during 2008 and 2009 has now been recovered.
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4.2 China’s Industrial Profits from Principal Business Increased
From January to August, the industrial profits of enterprises above designated size achieved
3,486.39 billion yuan, an increase of 12.8 percent over the same period last year, 1.7 percentage
points higher than that in the first seven months. Of which, the industrial profits from principal
business achieved 3,580.06 billion yuan, an increase of 4.9 percent over the same period last year,
0.2 percentage point lower than that in the first seven months.
In August, the industrial profits of enterprises above designated size achieved 483.17 billion yuan,
an increase of 24.2 percent over the same period last year, up by 12.6 percentage points over the
previous month. Of which, the industrial profits from principal business achieved 445.39 billion
yuan, an increase of 4.0 percent over the same period last year, up by 2.2 percentage points over
the previous month.
From January to August, the revenue from principal business of enterprises above designated
reached 64,505.85 billion yuan, increased 10.9 percent over the same period last year. The cost of
main business revenue for per hundred yuan stood at 85.9 yuan, with the profit margin hit 5.4
percent when calculated with total profits, and 5.55 percent when calculated with profits from
principal business.
Source: China Statistical Office
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4.3 US Multifactor Productivity Increases
Multifactor productivity – defined as output per unit of combined inputs – increased in 55 of the
86 four digit NAICS manufacturing industries in 2011, This was down from 2010, when
multifactor productivity increased in 63 of those industries. However, more industries recorded
increases in multifactor productivity in both 2010 and 2011 than in any year since 2004.
Multifactor productivity is measured in two transportation industries. Multifactor productivity
increased 1.2 percent in air transportation and decreased 1.6 percent in line-haul railroads.
Multifactor productivity indexes relate the change in real output to the change in the combined
inputs of labor, capital, and intermediate purchases consumed in producing that output.
Multifactor productivity growth measures the extent to which output growth has exceeded the
growth in inputs, and reflects the joint influences on economic growth of a variety of factors that
are not specifically accounted for on the input side, including technological change, returns to
scale, enhancements in managerial and staff skills, changes in the organization of production, and
other efficiency improvements.
Fewer 4-digit NAICS industries exhibited increases in output or combined inputs in 2011
compared to the previous year. Output increased in 54 manufacturing industries in 2011,
compared to 60 in 2010. However, the number of industries where output increased and the
number of industries where combined inputs increased were much higher in 2011 compared to
2009.
For some manufacturing industries, multifactor productivity rose despite falling output, as
combined inputs fell more rapidly. This occurred in 12 of the industries studied, including other
transportation equipment, household appliances, cutlery and hand tools, and printing and related
support activities.
Combined inputs of capital, labor, and intermediate purchases rose in 47 manufacturing industries
in 2011, compared to 54 industries in 2010. Purchases of intermediate inputs rose in 48 industries,
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labor hours rose in 51, and capital services rose in 25 industries. Industries with the largest
increases in combined inputs were motor vehicles; audio and video equipment; agriculture,
construction and mining machinery; and turbine and power transmission equipment.
Of the 39 industries where combined inputs fell in 2011, multifactor productivity rose in 31.
Within this group, the largest declines in combined inputs occurred in other transportation
equipment and household appliances. In both industries, the declines in combined inputs were
primarily caused by decreases in intermediate purchases.
5. Data Appendix
Table 3
Latest Available Financial Information
Item Sep. 13, 2013 Sep. 20, 2013
Percentage
Change
Deposits of Scheduled Commercial
Banks with RBI (Rs.Billion) 3,563.62 3,206.48 -10.0
Foreign Currency Assets of RBI
(Rs.Billion)
25,307.32 24,586.83 -2.8
Advances of RBI to the Central
Government (Rs.Billion) - - -
Advances of RBI to the Scheduled
Commercial Banks (Rs.Billion) 428.00 422.28 -1.3
Table 4
BSE Sensex and NSE Nifty Index
Index Sep. 23, 2013 Sep. 27, 2013
Percentage
Change
BSE SENSEX 20,060.82 19,727.27 -1.7
S & P CNX NIFTY 5945.80 5833.20 -1.9
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ASSOCHAM Economic Research Bureau
ASSOCHAM Economic Research Bureau (AERB) is the research division of the
Associated Chambers of Commerce and Industry of India. The Research Bureau
undertakes studies on various economic issues, policy matters, financial markets,
international trade, social development, sector wise performance and monitoring global
economy dynamics.
The main banners of the Bureau are:
ASSOCHAM Eco Pulse (AEP) studies are based on the data provided by various
institutions like Reserve Bank of India, World Bank, IMF, WTO, CSO, Finance Ministry,
Commerce Ministry, CMIE etc.
ASSOCHAM Business Barometer (ABB) are based on the surveys conducted by the
Research Team to take note of the opinion of leading CEOs, MDs, CFOs, economists and
experts in various fields.
ASSOCHAM Investment Meter (AIM) keeps the track of the investment
announcements by the private sector in different sectors and across the various states
and cities.
ASSOCHAM Placement Pattern (APP) is based on the sample data that is tracked on a
daily basis for the vacancies posted by companies via job portals and advertisements in
the national and regional dailies, journals and newspaper. Data is tracked for 60 cities
and 30 sectors that are offering job opportunities in India.
ASSOCHAM Financial Pulse (AFP) as an analytical tool tracks quarterly financial performance
of India Inc; forming strong inter-linkages with the real economy and presents sectoral insights
and outlook based on financial indicators, demand signals and corporate dividend activity.
Email: [email protected]
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THE KNOWLEDGE CHAMBER
Evolution of Value Creator ASSOCHAM initiated its endeavor of value creation for Indian
industry in 1920. It has witnessed upswings as well as upheaval of Indian Economy and
contributed significantly by playing a catalytic role in shaping up the Trade, Commerce and
Industrial environment of the country.
ASSOCHAM derives its strength from the following Promoter Chambers: Bombay Chamber of
Commerce and Industry, Mumbai; Cochin Chamber of Commerce and Industry, Cochin; Indian
Merchant's Chamber, Mumbai; The Madras Chamber of Commerce and Industry, Chennai; PHD
Chamber of Commerce and Industry, New Delhi.
VISION
Empower Indian enterprise by inculcating knowledge that will be the catalyst of growth in the
barrier less technology driven global market and help them upscale, align and emerge as
formidable player in respective business segment
MISSION
As representative organ of Corporate India, ASSOCHAM articulates the genuine, legitimate
needs and interests of its members. Its mission is to impact the policy and legislative
environment so as to foster balanced economic industrial and social development. We
believe education, health, agriculture and environment to be the critical success factors.
GOALS
To ensure that the voice and concerns of ASSOCHAM are taken note of by policy makers and
legislators. To be proactive on policy initiatives those are in consonance with our mission. To
strengthen the network of relationships of national and international levels/forums. To develop
learning organization, sensitive to the development needs and concerns of its members. To
broad-base membership. Knowledge sets the pace for growth by exceeding the expectation, and
blends the wisdom of the old with the needs of the present.