economic weekly assocham 2012
TRANSCRIPT
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Assocham Economic Research Bureau
THE ASSOCIATED CHAMBERS OF COMMERCE AND INDUSTRY OF INDIA
ASSOCHAM Economic Weekly
2nd
September, 2012
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Contents
1. Macroeconomy
1.1 GDP Growth Rates and Sectoral Development
1.2 All India Consumer Price Index Numbers for Industrial Workers
1.3 Fiscal deficit during April-July 2012-13
1.4Drought mitigating measures announced
2. Corporate Sector
2.1 Performance of Eight Core Industries.
2.2 Sectoral Deployment of Bank credit
2.3 Mineral Production during June 2012
2.4 Additional Services Exempted from Service Tax
3. Market Trends
4.Global Developments4.1 China Industrial Profits Decreased from January to July 2012-13
4.2 Euro Area Unemployment Rate at 11.3%
5. Data Appendix
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1. Macroeconomy
1.1 Gross Domestic Product Growth Rates and Sectoral Development.
GDP at factor cost at constant (2004-05) prices for the first quarter (Q1) of 2012-13 is estimated at
Rs. 13,06,276 crore, as against Rs. 12,38,738 crore in Q1 of 2011-12, showing a growth rate of
5.5 per cent over the corresponding quarter of previous year.
The economic activities which, registered significant growth in Q1 of 2012-13 over Q1 of 2011-
12 are construction at 10.9 per cent, financing, insurance, real estate and business services at
10.8 per cent and community, social and personal services at 7.9 per cent. The estimated growth
rates in other economic activities are: 2.9 percent in agriculture, forestry & fishing, 0.1 percent
in mining & quarrying, 0.2 per cent in manufacturing, 6.3 percent in electricity, gas and water
supply and 4.0 percent in trade, hotels, transport and communication during this period.
The key indicators of construction sector, namely, production of cement increased by 11.0 per
cent and consumption of finished steel registered growth rate of 8.8 per cent, during Q1 of 2012-
13.
Among the services sectors, the key indicators of railways, namely, the net tone kilometres and
passenger kilometres have shown growth rates of 1.2 per cent and 6.9 per cent, respectively during
Q1 of 2012-13. In the transport sector, the sales of commercial vehicles, cargo handled at major
ports, cargo handled by the civil aviation, passengers handled by the civil aviation registered
growth rates of 6.1 per cent, (-) 5.5 per cent, (-) 4.7 per cent and 2.6 per cent respectively during
Q1 of 2012-13 over Q1 of 2011-12.
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Please refer Table 1 for relevant figures
Table 1
Quarterly estimate of Gross Domestic Product at 2004-05 prices2011-12 2012-13 2011-12 (Y-o-Y) 2012-13
(Y-o-Y)Q1
Rs. Crore
Q1
Rs. Crore
Q1 Q2 Q3 Q4 Q1
1. agriculture, forestry &
fishing
167548 172402 3.7 3.2 2.8 1.7 2.9
2. mining & quarrying 26251 26282 -0.2 -2.9 -2.8 4.3 0.1
3. manufacturing 196170 196544 7.3 2.7 0.6 -0.3 0.2
4. electricity, gas & water
supply
24333 25867 8.0 9.8 9.0 4.9 6.3
5. construction 96539 107087 3.5 4.3 6.6 4.8 10.9
6. trade, hotels, transport
& commn.
357883 372192 13.
8
9.8 10.0 7.0 4.0
7. financing, ins., real est.& bus. servs.
225165 249575 9.4 10.5 9.1 10.0 10.8
8. community, social &
personal servs.
144849 156327 3.2 6.6 6.4 7.1 7.9
GDP at factor cost 1238738 1306276 8.0 6.9 6.1 5.3 5.5
Source: CSO
1.2 All India Consumer Price Index Numbers for Industrial Workers
All India Consumer Price Index Number for Industrial Workers (CPI-IW) rose by 4 points andpegged at 212 (two hundred and twelve). On 1-month percentage change, it increased by 1.92 per
cent between June and July compared with 2.12 per cent between the same two months a year
ago.
CPI-IW stood at 9.84 per cent for July, 2012 (over July, 2011) as compared to 10.05 per cent for
the previous month and 8.43 per cent during the corresponding month of the previous year.
Similarly, the Food inflation stood at 11.27 per cent against 10.45 per cent of the previous month
and 6.25 per cent during the corresponding month of the previous year.
The largest upward contributions to the change in current index came from food prices which rose
by 2.38 per cent, contributing 2.44 percentage points to the total change. The largest upward
pressure came from Rice, Arhar Dal, Green-chilly, Onion, vegetables, mainly Potato and Tomato,
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and Sugar. This was, however, partially offset by downward contributions from French Bean,
Brinjal, and Poultry (Chicken).
House rent which increased by 2.96 per cent, contributed 1.05 percentage points to the overall
change. The change was reported during the 21st round of Repeat House Rent Survey conducted
from January to June, 2012 to capture the change in expenditure incurred on rent by industrial
workers. The increase in the current round was mainly on account of annual increment awarded to
the salaried persons under centre/state sphere as well as the rise in rent reported from private
dwellings.
The largest downward contributions to the change in current index came from Transport and
Communication with a decline of 0.99 per cent, contributing 0.09 percentage points to the totalchange.
At centre level, largest increase of 18 points has been recorded in Durgapur followed by Ranchi-
Hatia (10 points), Vijaywada and Jabalpur (9 points each), Goa and Faridabad (8 points each),
Bhilai (7 points) and Hubli-Dharwar, H.P., Tiruchirapally and Delhi (6 points each). Among
others, 18 centres have recorded rise of 5 points followed by 4 points in 15 centres, 3 points in 13
centres, 2 points in another 13 centres and 1 point in 4 centres. Howrah was the only centre which
reported decline in index of 1 point. Rest of 3 centres indices remained stationary.
There are in all 26 centres whose indices are at par or above All-India Index and rest of 52 centres
have indices lower than national average.
1.3 Fiscal deficit during April-July 2012-13
Fiscal deficit in four months is 51.5 percent of the Budget estimate for 2012-13 as compare same
period of last year, which is lower (55.4 percent in 2011-12)
While the governments non-Plan expenditure is rising, the fiscal deficit at the end of April-July
2012-13 stood at Rs. 2, 64,432 crores.
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The years deficit saw a jump to 5.7 per cent of the GDP against the budget estimate of 4.6 per
cent. In the current financial year, the fiscal deficit is estimated at 5.1 per cent of the GDP.
This year, the government has pegged its market borrowings at Rs. 240756 crore, 49 percent of
budget estimates. This is 8 percent lower as compare to last year same period.
The revenue deficit stood at Rs 214718 crore in April to July 2012-13, which is 61.3 per cent of
Budget estimates in 2012-13.
Please refer Table 2 and 3 for relevant figures:
Table 2
The State of Finances of Union Governmentat the end of July 2012(in Rs. Crores)
Budget
Estimates
2012-2013*
Actuals@
upto
July 2012
% of Actuals to Budget
Estimates
Rs. Rs. Current COPPY**
1 Revenue Receipts 935685 168826 18.0 ( 17.4)
2 Tax Revenue (Net) 771071 142789 18.5 (17.2)
3 Non-Tax Revenue 164614 26037 15.8 (18.4)
4 Non-Debt Capital Receipts 41650 4033 9.7 (16.8)
5 Recovery of Loans 11650 2703 23.2 (54.0)
6 Other Receipts 30000 1330 4.4 (2.9)
7 Total Receipts (1+4) 977335 172859 17.7 (17.3)
8 Non-Plan Expenditure 969900 323295 33.3 (32.3)
On Revenue Account
(i) of which Interest
Payments
865596
319759
290354
80615
33.5
25.2
(32.0)
(25.2)
On Capital Account
(i) of which Loans disbursed
104304
923
32941
10344
31.6
1120.7
(35.0)
(3841.8)
9
10
11 Plan Expenditure 521025 113996 21.9 (25.3)
On Revenue Account 420513 93190 22.2 (26.8)
On Capital Account
(i) of which Loans disbursed
100512
19156
20806
3984
20.7
20.8
(18.2)
(22.0)
12
13
14
Total Expenditure (8+11) 1490925 437291 29.3 (29.8)
15 Fiscal Deficit (14-7) 513590 264432 51.5 (55.4)
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16 Revenue Deficit (9+12-1) 350424 214718 61.3 (63.4)
17 Primary Deficit {15-9(i)} 193831 183817 94.8 (111.3)
**COPPY: Corresponding Period of the Previous Year
Source: http://www.cga.nic.in/
Table 3Financing the Deficit at the end of July 2012
(Rs. Crores)
Budget
Estimates
2011-2012*
Actuals@
upto
July 2012
% of Actuals to Budget
Estimates
Rs. Rs. Current COPPY**
1 External Financing 10148.20 -1403.81 -14 (9)
2 Domestic Financing 503442.25 265835.34 53 (57)
. (a) Market Borrowings 488000.00 240756.93 49 (57)
(b) Securities against Small
Savings1197.52 -366.89 -31 (-1)
. (c) Deposit Scheme for
Retiring Employees
0.00 - 0.21 0 (0)
. (d) State Provident Funds 12000.00 382.96 3 (12)
. (e) Special Deposits of Non-
Govt. Provident Funds,
Insurance Corporation etc.
0.00 -246.98
. (f) National Small Saving
Fund
5005.48 4035.60 81 (4278)
. - i- Savings Deposit and
Certificates
-27000.00 -3815.89 14 (-8)
. - ii- Public Provident Funds 27000.00 1789.86 7 (1)
. -iii- Investment In Securities 12122.24 6733.74 56 (-8)
. - iv- Income/Expenditure of
NSSF
-7116.76 -672.11 9 (-60)
. (g) Others - 22760.75 - 30663.88 135 (250)
. (h) Cash Balance{Decrease(+)/ Increase(-)} 20000.00 18409.81 92 (10)
. (i) Investment (-) /
Disinvestment(+) of Surplus
Cash
33528.00
. (j) Ways & Means Advances
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3 TOTAL FINANCING 513590.45 264431.53 51 (55)
**COPPY : Corresponding Period of the Previous YearSource: http://www.cga.nic.in/
1.4 Drought Mitigation Measures Announced
Government has introduced Diesel Subsidy Scheme to offset the cost of diesel used for pumping
water for providing supplementary and protective irrigation to standing crops in drought affected
areas. Government has also enhanced ceiling on subsidies on seeds of cereals, pulses & oilseeds
and coarse cereals to partially recompense the farmers for the additional expenditure incurred by
them in resowingand / or purchasing drought tolerant variety of seeds.
Diesel Subsidy Scheme
Under this scheme, 50% of the cost of diesel for supplementary and protective irrigation will be
provided as financial assistance to farmers, limited to 2 ha per farmer, which will be equally
shared by Government of India (GOI) and respective State Government / Union Territory. GOIs
contribution will be capped at Rs. 750 per ha.
The scheme would operate till 30th
September, 2012 in the following areas:
Districts where rainfall deficit was more than 50% as on 15
th
July, 2012, as per IndiaMeteorological Department (IMD) data, or
Talukas and districts declared as drought affected areas by the respective State
Governments; or
Areas with prolonged dry spell with rainfall deficit of 60% or more, for any continuous 15
days period, beginning from 15th July 2012.
Enhanced Seed Subsidy Scheme
Under this scheme, ceiling on seeds subsidy is enhanced from the rate of Rs.500 per quintal to
Rs.700 per quintal in respect of cereals, from Rs.1200 per quintal to Rs.2000 per quintal in
respect of pulses and oilseeds, and from Rs.800 per quintal to Rs.1000 per quintal in respect of
coarse cereals.
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2. Corporate Sector
2.1 Performance of Eight Core Industries.
The Eight core industries have a combined Index was 147.3 in July 2012 with a growth rate of
1.8% compared to their 8.2% growth in July 2011. During April-July 2012-13, the cumulative
growth rate of the Core industries was 3.2 % as against their growth at 6.0% during thecorresponding period in 2011-12.
Coal production registered a growth of 2.1% in July 2012 compared to its growth at 2.5%
in July2011. However, in cumulative terms Coal production had a growth of 5.3% during
April-July 2012-13 compared to its growth at 0.8% during the same period of 2011-12.
Crude Oil production had a negative growth of (-) 0.7% in July 2012 compared to its
growth at 1.4% in July 2011. Cumulatively also, Crude Oil production had a negative
growth of (-) 0.6% during April-July 2012-13 compared to its growth at 7.3% during the
same period of 2011-12.
The growth rates of Natural Gas production was negative both in July, 2012, at (-) 13.5%
and in July 2011 at (-) 8.2%. Cumulatively, Natural Gas production registered a negative
growth of (-) 11.7% during April-July2012-13 and (-) 9.7% during the same period of
2011-12.
Petroleum refinery production (weight: 5.94%) had a growth of 3.6% in July 2012
compared to its growth at 3.7% in July 2011. In cumulative terms, Petroleum refinery
production registered a growth of 3.3% during April-July 2012-13 compared to its 4.8%
growth during the same period of 2011-12.
Fertilizer production (weight: 1.25%) registered a negative growth of (-) 2.2% in July 2012
against its growth at (-) 1.6% in July 2011. Cumulatively Fertilizer production had a
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growth of (-) 9.5% during April-July 2012-13 compared to 0.4% growth during the same
period of 2011-12.
Steel production (weight: 6.68%) had a growth rate of 4.5% in July 2012 against its 16.5%
growth in July 2011. Cumulatively, Steel production had a 3.8% growth during April-July 2012-13 compared to its 10.4% growth during the same period of 2011-12.
Cement production (weight: 2.41%) registered a growth of 3.8% in July 2012 against its
13.0% growth in July2011. The cumulative growth of Cement Production was 8.5%
during April-July 2012-13 compared to its 3.1% growth during the same period of 2011-
12.
Electricity generation (weight: 10.32%) had a 2.2% growth in July 2012 compared to its
13.0% growth in July2011. The cumulative growth of Electricity generation was 5.5%
during April-July 2012-13 compared to 9.4% growth during the same period of 2011-12.
Please refer Table 4 for relevant figures:
Table 4
Growth Performance of Eight Core Industries (Base: 2004-05=100)
July 2012
Sector Weight 2011-12
April-July
2011-12
April-July
2012-13 July 2011 July 2012
Coal 4.38 1.2 0.8 5.3 2.5 2.1
Crude Oil 5.22 1.0 7.3 -0.6 1.4 -0.7
Natural Gas 1.71 -8.9 -9.7 -11.7 -8.2 -13.5
Refinery Products 5.94 3.2 4.8 3.3 3.7 3.6
Fertilizers 1.25 0.4 0.8 -9.5 -1.6 -2.2
Steel 6.68 7.0 10.4 3.8 16.5 4.5
Cement 2.41 6.7 3.1 8.5 13.0 3.8
Electricity 10.3 8.1 9.4 5.5 13.0 2.2
Overall Index 37.9 4.4 6.0 3.2 8.2 1.8
Source: Office of Economic Advisor, Ministry of Commerce & Industry, Govt. of India.
2.2 Sectoral deployment of Bank credit
Sectoral deployment of credit collected on a monthly basis from select 47 scheduled commercial
banks accounting for about 95 per cent of the total non-food credit deployed by all scheduled
commercial banks for the month of July 2012
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Highlights of the data are given below:
On a year-on-year (y-o-y) basis, non-food bank credit increased by 16.5 per cent in July
2012 as compared with 18.9 per cent in July 2011.
Credit to agriculture increased by 18.8 per cent in July 2012, up from 11.8 per cent in July
2011.
Credit to industry increased by 17.2 per cent in July 2012, down from 21.2 per cent in July
2011. Deceleration in credit growth to industry was observed in all the major sub-sectors,
barring petroleum, coal products and nuclear fuels, chemical and chemical products, glass
and glassware, engineering and construction.
Credit to the services sector increased by 15.3 per cent in July 2012 as compared with 20.9
per cent in July 2011.
Credit to NBFCs increased by 40.5 per cent in July 2012, down from 54.0 per cent in July
2011.
Personal loans increased by 14.9 per cent in July 2012 as compared with 15.5 per cent in
July 2011.
Please refer Table 5 for relevant figures
Table 5Gross Bank Credit by Major Sectors
Sector
Outstanding as on Rs.
billion Growth Rate(Y-o-Y)
Jul 29, 2011 Jul 27, 2012
Jul 29, 2011 /
Jul 30, 2010
Jul 27, 2012 /
Jul 29, 2011
Gross Bank Credit 37956.2 44393.2 19.11 16.96
Food Credit 674.6 968.3 31.55 43.53
Non-food Credit 37281.6 43424.9 18.90 16.48
Agriculture & Allied Activities 4430.0 5262.8 11.76 18.80
Industry 16797.8 19679.6 21.21 17.16
Services 9040.6 10427.7 21.16 15.34Commercial Real Estate 1132.5 1157.5 18.64 2.21
Non-Banking Financial Companies
(NBFCs) 1729.4 2430.3 54.00 40.53
Personal Loans 7013.2 8054.8 15.54 14.85
Source: RBI
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2.3 Mineral Production during June 2012
The index of mineral production of mining and quarrying sector in June 2012 was lower by 4.5%
compared to that of the preceding month. The mineral sector has shown a positive growth of 0.6%
during June 2012 as compared to that of the corresponding month of previous year.
The total value of mineral production (excluding atomic & minor minerals) in the country during
June 2012 was Rs.16828 crore. The contribution of petroleum (crude) was the highest at Rs. 5669
crore (34%). Next in the order of importance were: coal Rs 4521 crore, iron ore Rs.3538 crore,
natural gas (utilized) Rs. 1298 crore, lignite Rs. 438 crore and limestone Rs. 344 crore. These six
minerals together contributed about 94% of the total value of mineral production in June 2012.
Production level of important minerals in June 2012 were: coal 416 lakh tonnes, lignite 39 lakh
tonnes, natural gas (utilized) 3468 million cu. m., petroleum (crude) 31 lakh tonnes, bauxite 1301
thousand tonnes, chromite 363 thousand tonnes, copper conc. 10 thousand tonnes, gold 124 kg.,
iron ore 154 lakh tonnes, lead conc. 13 thousand tonnes, manganese ore 203 thousand tonnes, zinc
conc. 99 thousand tonnes, apatite & phosphorite 196 thousand tonnes, dolomite 470 thousand
tonnes, limestone 237 lakh tonnes, magnesite 17 thousand tonnes and diamond 2269 carat.
In June 2012 the output of bauxite increased by 7.9%, chromite 4.1%, copper conc. 2.8 percent.
However the production of petroleum (crude) decreased by 3.3%, diamond 3.4%, iron ore 3.7%,
natural gas (utilized) 4.0%, limestone 4.1%, lignite 4.4%, apatite & phosphorite 6.0%, coal 6.8%,
dolomite 8.6%, manganese ore 9.1%, zinc conc. 9.3%, gold 13.9%, lead conc. 17.3% and
magnesite 20.2 percent.
2.4 Additional Services Exempted from Service Tax
At present there are 17 items in the negative list (Section 66 D of the Finance Act, 1994) and 39items in the mega exemption notification 25/2012-ST dated 20.6.2012. Government has recently
exempted more services from the purview of service tax.
Transport of goods by inland waterways, copyrights for cinematography, vocational education
courses by institutes affiliated to the National Skill Development Corporation, hiring of buses to
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state transport authority, erection and commissioning of water supply, sale of space for
advertisement on internet, hoardings, services by specified intermediaries, transportation of import
cargo and specified schemes of insurance (all services exempted vide exercise of powers under
Section 93 (1) of Finance Act, 1994, are now consolidated in Notification 25/2012-ST dated 20June, 2012).
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3. Market Trends
BSE: The 30 share BSE Sensex decreased by 1.9 per cent and closed at 17,429.6
NSE: S & P CNX NIFTY decreased by 2.4 per cent and closed at 5258.5
Dollar: The value of Rupee appreciated by Rs. 0.05 against the US dollar during the
week and closed at Rs 55.7 per dollar.
Euro: The value of Rupee depreciated by Rs. 0.03 against the Euro and closed at Rs.
69.6per euro.
Gold: Prices of gold decreased by Rs. 197.7 per 10 grams during the week and closedat Rs. 30725.40 per 10 grams.
Silver: Prices of silver decreased by Rs. 1063.2 during the week and closed at Rs.
58029.7 per kg.
Crude Oil: The prices of crude oil decreased by USD 1.8 and closed at USD 111.2 per
barrel.
Forex Reserves: Indias Foreign Exchange reserves increased by USD 1.3 billion to
USD 290.18 billion during the week-ended August 24, 2012.
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4. Global Developments
4.1 China Industrial Profits Decreased from January to July 2012-13
From January to July, the industrial profits of enterprises above designated size achieved 2,678.5
billion yuan, a year-on-year decrease of 2.7 percent. In July, the industrial profits of enterprises
above designated size achieved 366.8 billion yuan, a year-on-year decrease of 5.4 percent.
From January to July, the profits of state-owned and state-holding industrial enterprises above
designated size gained 784.7 billion yuan, decreased 12.2 percent, that of collective-owned
enterprises reached 42.6 billion yuan, increased 7.8 percent, that of joint-stock enterprises stood at
1,568.2 billion yuan, decreased 1.2 percent, that of foreign funded enterprises, and enterprises
funded from Hong Kong, Macao and Taiwan achieved 609.0 billion yuan, decreased 12.6 percent,
and that of private enterprises gained 818.7 billion yuan, increased 15.5 percent, year-on-year.
Within 41 divisions of industrial sector, the profits of 25 industrial divisions increased year-on-
year, that of 15 declined, and that of 1 turned to get net loss from profits, year-on-year. Of which,
the profits of agro-food processing industry rose by 16.6 percent, that of the manufacture of
automobile industry increased 10.2 percent, that of manufacturing of electrical machinery and
equipment increased 1.0 percent, that of production and supply of electric power and heat power
expanded 29.3 percent, that of petroleum and natural gas extraction industry decreased 2.1
percent, that of raw chemical materials and chemical products went down by 21.3 percent, that of
ferrous metal mining and processing decreased 60.8 percent, that of manufacturing of general
equipment declined 0.9 percent, that of communication equipment, computers and other electric
equipment production went down by 1.6 percent, that of processing of petroleum, coking,
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processing of nuclear fuel turned to get net loss from profits over the same period of previous
year.
The revenue from principal business of enterprises above designated reached 49,989.1 billion
yuan, ballooned 10.6 percent, year-on-year. The cost of main business revenue for per hundredyuan stood at 85.41 yuan, with the margin hit 5.36 percent.
Source: National Bureau of Statistics of China
4.2 Euro area unemployment rate at 11.3%
The euro area (EA17) seasonally-adjusted unemployment rate was 11.3% in July 2012, stable
compared with June. It was 10.1% in July 2011. The EU27 unemployment rate was 10.4% in July
2012, also stable compared with June. It was 9.6% in July 2011.
Eurostat estimates that 25.254 million men and women in the EU27, of whom 18.002 million
were in the euro area, were unemployed in July 2012. Compared with June 2012, the number of
persons unemployed increased by 43 000 in the EU27 and by 88 000 in the euro area. Compared
with July 2011, unemployment rose by 2.104 million in the EU27 and by 2.051 million in the euro
area.
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These figures are published by Eurostat, the statistical office of the European Union.
Among the Member States, the lowest unemployment rates were recorded in Austria (4.5%), the
Netherlands (5.3%), Germany and Luxembourg (both 5.5%), and the highest in Spain (25.1%) and
Greece (23.1% in May 2012).
Compared with a year ago, the unemployment rate fell in ten Member States, increased in sixteen
and remained stable in Slovenia. The largest falls were observed in Estonia (13.2% to 10.1%
between the second quarters of 2011 and 2012), Lithuania (15.2% to 13.0%) and Latvia (17.0% to
15.9% between the second quarters of 2011 and 2012). The highest increases were registered in
Greece (16.8% to 23.1% between May 2011 and May 2012),Spain (21.7% to 25.1%) and Cyprus
(7.7% to 10.9%).
Between July 2011 and July 2012, the unemployment rate for males increased from 9.8% to
11.3% in the euro area and from 9.5% to 10.5% in the EU27. The female unemployment rate rose
from 10.4% to 11.4% in the euro area and from 9.8% to 10.4% in the EU27.
In July 2012, 5.468 million young persons (under 25) were unemployed in the EU27, of whom
3.388 million were in the euro area. Compared with July 2011, youth unemployment rose by 182
000 in the EU27 and by 204 000 in the euro area. In July 2012, the youth unemployment rate was22.5% in the EU27 and 22.6% in the euro area. In July 2011, it was 21.3% and 20.7%
respectively. In July 2012 the lowest rates were observed in Germany (8.0%), Austria (8.9%) and
the Netherlands (9.2%), and the highest in Greece (53.8% in May 2012) and Spain (52.9%).
In July 2012, the unemployment rate was 8.3% in the USA. In June 2012, the unemployment rate
was 4.3% in Japan.
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5. Data Appendix
Table 6
Latest Available Financial Information
ItemAug. 17, 2012 Aug. 24, 2012 Percentage Change
Deposits of Scheduled Commercial
Banks with RBI (Rs.Billion)3,297 3,106 -5.8
Foreign Currency Assets of RBI
(Rs.Billion)14,340 14,325 -0.1
Advances of RBI to the Central
Government (Rs.Billion)37 ----- ------
Advances of RBI to the Scheduled
Commercial Banks (Rs.Billion)
69 68 -2.3
Table 7
BSE Sensex and NSE Nifty Index
IndexAug. 27, 2012 Aug.31, 2012
Percentage
Change
BSE SENSEX17,769.4 17,429.6 -1.9
S & P CNX NIFTY5,387.9 5,258.5 -2.4
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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 Bureauundertakes studies on various economic issues, policy matters, financial markets,
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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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7/30/2019 Economic Weekly Assocham 2012
20/20
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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. Tostrengthen 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.