Moily told the Lok Sabha that the government is considering giving more than six subsidised LPG cylinders and need a few days time
The economic growth in the first six months of FY13 is 5.4%, lower than 7.3% growth registered in same period a year ago
New Delhi: The Indian economy grew by 5.3% during July-September the current financial year (2012-13), pulled down by poor performance of manufacturing and agriculture sectors thus showing persistent signs of slowdown, reports PTI.
The gross domestic product (GDP) had expanded by 6.7% in the same period of last fiscal. It had grown by 5.5% in the first quarter (April-June) of 2012-13.
During the three-month period ended 30th September, the manufacturing sector grew marginally by 0.8%, against 2.9% growth in the same period of 2011-12, according to data released by the Central Statistical Organisation (CSO) on Friday.
Farm sector output expanded by just 1.2% in the July-September period this fiscal against 3.1% in the same period last year.
Mining and quarrying sector, however, showed some improvement and recorded a growth of 1.9% during the quarter, as against a contraction of 5.4% in the second quarter of 2011-12.
The economic growth in the first six month of this fiscal (April-September) is 5.4%, lower than 7.3% growth clocked in the year-ago period.
In the July-September quarter, trade, hotels, transport and communications segment also witnessed lower pace of growth at 5.5% compared to 9.5% expansion in the same quarter in year ago.
The growth rate of electricity, gas and water supply also dipped to 3.4% in the second quarter, from 9.8% witnessed in the same quarter of 2011-12.
Construction sector expanded by 6.7% Q2 of 2012-13, as against 6.3% in the year-ago period.
Growth rate of services sector, including insurance and real estate, stood at 9.4% in the second quarter, against 9.9% recorded in same quarter last fiscal.
Finance Minister P Chidambaram had earlier said that the economy faces a "difficult situation" and the way to overcome this difficult situation is through innovation and increasing the production of goods and services.
NPCIL generates electricity using nuclear energy through 19 nuclear power reactors located at six sites, with an aggregate installed capacity of 4,680MW
New Delhi: The Finance Ministry has proposed to list Nuclear Power Corporation of India Ltd (NPCIL) on the stock exchanges by selling 10% government stake, reports PTI.
The Department of Disinvestment in the Ministry of Finance this week sought comments on a draft note proposing listing of NPCIL through a initial public offering (IPO) of 10% paid up equity capital of the company out of government's 100% shareholding.
Sources privy to the development said comments on the draft note to the Cabinet Committee on Economic Affairs (CCEA) have been sought by 10th December.
NPCIL generates electricity using nuclear energy through 19 nuclear power reactors located at six sites, with an aggregate installed capacity of 4,680MW.
In addition, the company also generates 10 MW electricity from wind mills at Kudankulam.
It is constructing 6 nuclear power reactors with an aggregate capacity of 4,800 MW.
Sources said NPCIL has an authorised capacity of Rs15,000 crore, of which Rs10,174.33 crore is paid up capital.
It reported a net profit of Rs1,906 crore on a turnover of Rs7,914 core in 2011-12.
The net worth of the company is Rs25,428 crore.
Sources said prior to listing, four independent directors will be appointed in the company board to comply with the SEBI's listing norm of having equal number of executive and non-executive directors.
NPCIL board currently consists of five functional directors, including the chairman and managing director, and two government nominee directors. It has three independent directors.