Tag Archives: Administration

New National Manufacturing Policy This Month, Says Administration

The administration stated that it is expected to come forward with a National Manufacturing Plan by the end of September 2011 that aspires to generate mega industrial zones crosswise the nation with top-notch infrastructure facilities.

Commerce and Industry Minister Anand Sharma said, “The note (for the policy) will go to the Cabinet within a week. I do not foresee any delay. Hopefully within this month, it will become a reality.”

The national manufacturing plan eyes to generate 100 million extra jobs and take the share of manufacturing to 25% of India’s gross domestic product by the year 2020 as against 15-16%.

The section adds more than 80% to India’s total industrial production.

The plan also aimed to relax labour and environment regulations and looked for tax sops for the projected National Manufacturing Investment Zones (NMIZs).

These proposed big enclaves could even consider SEZs.

On the determined $90 billion Delhi-Mumbai Industrial Corridor (DMIC), Mr. Sharma stated that seven novel investment areas would be established crosswise the six Indian states under the project.

These two measures would assist unlock the true prospective of manufacturing in the country.

He also stated that the initial gathering of a Joint Task Force of the administration and industry will take place on September 12.

The Joint Task Force was declared after the minister held talks with CII on July 13.

Administration Plans To Set Up Novel Training Centres For MSME Section

The administration is making plans to set up more than 50 novel training centres for advancing talents of personnel in the micro, small and medium enterprises (MSME) segment.

The National Skill Development Corporation plans to offer up skill training to around 150 million individuals by the year 2022.

MSME Secretary Uday Kumar Varma stated, “Of these 150 million, 15 million people have to be skilled through my ministry … I think there is a necessity to set up 52 more tool rooms. At least 2-3 in each state.”

Presently, there are 10 training centres in the nation, comprising in Kolkata, Ludhiana, Ahmedabad, Bhubaneswar and Jamshedpur.

The individuals would obtain training in tool and dye-manufacturing.

Mr. Varma stated that at present, the ministry is training approximately a million individuals.

“We certainly need to expand the existing ones and create many more tool rooms in the country,” he said.

Tool rooms are self-governing societies financed by the administration. They are money-making bodies and self-sufficing.

The administration offers up finances for capital development and a range of activities including substitution of machines, he said adding around 40,000 individuals receive training in one year in these centres.

Administration Lowers FY’12 GDP Growth Estimation To 8.6% From 9%

Amid a likely moderateness in industrial productivity, the administration turned down its GDP growth estimation for the existing financial year to 8.6% from the previous projection of around 9%.

The Finmin stated, “Growth is estimated to be marginally higher at 8.6 per cent this year over 2010-11 levels of 8.5 per cent.”

The finance ministry also said that as first quarter escalation figures for the existing financial year are still to be issued, the viewpoint for 2011-12 has to be inferred from movements of precedent facts, plus higher frequency proxy financial indicants.

While twelve-monthly indicators of real gross domestic product growth stayed optimistic in the existing financial year, there was a “perceptible slump” in terms of quarterly development rates during the past two quarters.

The financial system increased just 8.3% during the third quarterly period in 2010-11 and 7.8% during the January-March period, the lowest during the last five quarters.

“This apparent slowdown in headline year-on-year growth rates on a quarterly basis, plus of movement in other higher frequency indicators… and slowing automobile sales, suggested that growth outlook for 2011-12 may be lower,” it added.

While the Economic study had estimated GDP growth in 2011-12 at 9%, the central banking institution later lowered it to 8%.

The country’s economic system is approximated to have elaborated by 8.5% during the past financial.

The bureau stated that there is a slump in business investment and their earnings have been affected owing to cost appreciation of input items and raw material.

“Industry will probably slow, given trends in high frequency proxy indicators like Purchase Managers Index ( PMI )) and Index of Industrial Production ( IIP )) for the current fiscal (up to June, 2011)…,” it said.

But, it thought that the industrial slump may reverse once the base effect diminishes.

The industrial output growth rate declined to a 9-month low of 5.6% in the month of May because of a deprived presentation by the manufacturing and mining segments and lower offtake of capital goods.

According to the ministry, the agricultural expansion rate may moderate to 3-4% in 2011-12 as against 5% in 2010-11.