From: Press Information Bureau Ministry of I&B <pib.kolkata@gmail.com>
Date: Tue, Jun 22, 2010 at 5:16 PM
Subject: Releases..........pt5
Press Information Bureau
Government of India
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Ministry of Health and Family Welfare
Consolidated Status (Weekly) of Influenza A H1N1
New Delhi: June 22, 2010
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Press Information Bureau
Government of India
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Ministry of Finance
Finance Minister Optimistic of Achieving more than 8.5% Growth During the Year 2010-11
FM addressed Senior Executives of Financial Services Firms at Washington
New Delhi: June 22, 2010
The Finance Minister Shri Pranab Mukherjee said that despite continuing global economic crisis, India will be able to achieve growth rate of more than 8.5% during the current financial year i.e., 2010-11. He said that he endorses the prediction made by International Monetary Fund that India will achieve a growth rate of 8.8% during the current financial year. The Finance Minister was addressing a gathering of senior executives from financial services firms at the Institute of International Finance in Washington yesterday evening. Shri Mukherjee said that there are three challenges before the Indian economy today. First is to come back on the path of fiscal consolidation and bring down the fiscal deficit to 5.5% in the current year and 4.1% in the next financial year. Second challenge before us is to contain the rate of inflation which has reached almost double digit i.e., 9.9% compared to 2.1% in the previous year. He said that this is mainly due to constraints in supply side of food articles which include cereals, pulses, edible oils and sugar among others. He added that inflation in food articles was more than 17% for a long time which will start declining after the middle of July 2010 as the monsoon is expected to be normal this year. Third challenge before the Indian economy is to contain the oil prices as we have to import more than 70% of our demand from outside.
Speaking on the occasion, the Finance Minister also said that the flow of foreign direct investment in the country has not been disturbed because of the strong fundamentals of Indian economy despite worldwide financial crisis. At the end, the Finance Minister said that during the last G-20 Finance Ministers' meeting in Busan, South Korea, early this month, India took a stand that process of fiscal consolidation should be country specific and staggered and should not be enforced in one go in all the countries. Besides, India took a stand that there is no need for funding banks from Government exchequer through bank levy etc. rather banking regulation mechanism and institutional framework be put in place to avoid any bank levy etc. He said that both the suggestions were well taken by the member countries.
On this occasion, Indian Ambassador in US, Ms. Meera Shankar and Mr. Charles Dallara, Managing Director, Institute of International Finance also spoke. The Finance Minister also welcomed the interest taken by Institute of international Finance which will hold its next annual conference in India this year.
dsm/by/gn-200/10/dk/kol/17:09 hrs.
Press Information Bureau
Government of India
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Ministry of Earth Science
Partial Eclipse of the Moon On Coming Saturday
Visibility in India at the End of Eclipse
New Delhi: June 22, 2010
A Partial eclipse of the Moon will occur on 26th of this month from h. 15h 47mts to 18h 30mts IST.
The eclipse is visible in the region covering eastern Asia, Australia, Antarctica, parts of the Americas and the Pacific Ocean. The beginning of the umbral phase will be visible from the central parts of South America, north-eastern parts of United States of America, central parts of Canada and parts of Arctic Ocean. The ending of the umbral phase will be visible from some parts of the Indian Ocean, north-east part of India, middle of China, Mongolia and north-east part of Russia.
Visibility in India will be at the end of the eclipse. The ending of the eclipse is visible from the extreme north-eastern part of India at the time of moonrise during the eclipse.
The Eclipse will last for 2 h 43 mts. It will begin at 15h47 mts, middle of the eclipse will be17h 09 m(where Magnitude of the eclipse = 0.542 (Moon's diameter being taken as 1.0) and it will end at 18h30 mts.
kp/dk/kol/17:10 hrs.
Press Information Bureau
Government of India
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Ministry of Finance
Finance Minister Calls for Cooperation Between India and Us in Insurance, Health and Education among others
New Delhi: June 22, 2010
The Ambassador of India in US, Ms. Meera Shankar hosted a banquet dinner in the honour of visiting Finance Minister, Shri Pranab Mukherjee yesterday at India House in Washington. Commerce Minister, Shri Anand Sharma, Deputy Chairman, Planning Commission, Shri Montek Singh Ahluwalia leading business leaders from India including Shri Mukhesh Ambani, CMD, Reliance Industries Ltd., Shri Analjit Singh, Chairman, Max India Limited,Shri. Deepak Parekh, Chairman, HDFC, Mr. S. Gopalakrishnan, CEO and MD, Infosys Technologies, Ms. Kiran Majumdar Shaw, CMD Biocom and Ms. Preetha Reddy MD Apollo hospitals were also present alongwith other dignitaries.
Speaking on the occasion, the Finance Minister Shri Pranab Mukherjee said that business leaders from India should explore the new areas of mutual cooperation with their US counterparts in today's Indo-US CEOs Forum Meeting. The Finance Minister said this Forum provides a platform to the business leaders of both the countries to highlight the new policy initiatives required from both the countries in order to boost the bilateral trade and investment. The Finance Minister specifically stressed the need for heavy investment in Indian infrastructure sector. The Finance Minister called for cooperation in other areas as well including agriculture research, health, education including medical education and research and insurance among others. He expected that this Joint Forum Meeting will be very fruitful and will come out with recommendations which will help in increasing the bilateral trade and investment between the two countries.
dsm/by/gn-202/10/dk/kol/17:11 hrs.
Press Information Bureau
Government of India
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Ministry of Finance
Finance Minister asks India-US Business Leaders to play Major Role in Building and Strengthening the Relations Between the two Nations
China's Yuan Policy not to hit Indian Economy adversely: FM
New Delhi: June 22, 2010
The Finance Minister Shri Pranab Mukherjee said that business leaders of both India and US can play major role in further strengthening the relations and cooperation between the two countries. The Finance Minister was having an interactive session with chief executive officers and leaders of business community of both the countries in Washington yesterday on the eve of Joint India-US Business CEOs Forum Meeting to be held today. The interactive session was organised by Confederation of Indian Industry (CII) in order to discuss and formulate the issues to be discussed in the Joint CEOs Forum Meeting today.
Speaking on the occasion, the Finance Minister said that there is a need for close cooperation with US, not only in finance and trade but also in other areas like agriculture, insurance, health including clinical research and education among others. The finance minister said that in order to prevent any deceleration in growth process in the current global situation, it was necessary for him to generate domestic demand by injecting stimulus packages equivalent to 3% of GDP in 2009-10 and has to strike a balance between demand for external and domestic sectors. The Finance Minister said that he had partially roll-backed certain stimulus packages during the current financial year but not in favour of complete rollback and full exit at this stage because of the continuation of the international financial crisis. The Finance Minister said that there is a scope of heavy investment worth US$ 850 billion in infrastructure sector in India and it will go up to US $ 2.7 trillion in the next five years. The finance minister said that we have been able to achieve domestic savings up to 34-36% of GDP. He said that India is on the path of fiscal consolidation and wants to bring down the fiscal deficit to 5.5% in the current year and 4.1% by the end of year 2011-12.
Replying to a question, the Finance Minister said that India is happy over China's announcement for its flexible policy as far its currency, Yuan is concerned and it will not hit the Indian economy adversely. He is hopeful that China will follow the policy keeping in view the interest of the world economy. On this occasion, Indian Ambassador to US Ms. Meera Shankar, business leaders from India including Mr. Pawan Munjal of Hero Honda, Mr. S. Gopalakrishnan CEO and MD Infosys Technologies, Ms. Kiran Majumdar Shaw, Chairman and MD, Biocon and Ms. Preetha Redddy, MD, Apollo Hospitals were present among others alongwith business leaders from the US side.
dsm/by/gn-201/10/dk/kol/17:12 hrs.
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Palash Biswas
Pl Read:
http://nandigramunited-banga.blogspot.com/
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