The director and CEO of Centre for Monitoring Indian Economy, which also tracks unemployment data, said that the Budget was disappointing but in line with the Centre’s stand of denial
A recent report by CMIE or the Centre for Monitoring Indian Economy indicates that new project announcements decline sharply with private sector investment proposals at 15-quarter low. In an interview to CNBC-TV18, Mahesh Vyas, MD & CEO of CMIE spoke about the same.
Prime Minister Narendra Modi's New Year eve indicates a no nonsense approach towards corruption says Mahesh Vyas, MD and CEO of CMIE.
The cost of withdrawing high-denomination currency notes to wipe out black money from the country will be about Rs 1.28 lakh crore during the 50-day window till December 30, the Centre for Monitoring Indian Economy (CMIE) said
The investment situation is stagnant, Mahesh Vyas, MD & CEO of CMIE told CNBC-TV18. The number of implementation projects getting stalled has been falling. Stalling of projects have declined by 73 percent year-on-year in September quarter.
Capacity utilisation across various sectors is still very low at 70 percent and there is a substantial amount of capacity which is yet to be put to use, says Mahesh Vyas, MD & CEO of Centre for Monitoring Indian Economy in an interview to CNBC-TV18.
The WPI will get into the "moderately positive" zone in the next fiscal, says Vyas. But this growth should reflect in the topline of corporates in the current fiscal.
The impact of the steel sector has been such that the stock of stalled projects increased after falling for five quarters.
Mahesh Vyas of CMIE says: "A large part of the new investment comes from one big investment show in Tamil Nadu and when that happens there is a blip. If one were to take it out, the picture does not look too good."
Lack of government clearances alone is not to blame for the stalled projects, says broking firm UBS. Three-fourths of the list comprises projects that appear either unworkable, unviable, constrained by promoter funding, or already substantially completed.
The number of stalled infrastructure projects has declined, but the pace of new capex has declined in the March and June quarters, Mahesh Vyas of Centre For Monitoring Indian Economy told CNBC-TV18.
Mahesh Vyas, MD and CEO of CMIE, says it is not practical to expect rapid implementation of road projects, especially in a country where there are issues such as land acquisition.
Mahesh Vyas, MD and CEO of CMIE does not expect rapid growth in exports for the next few quarters.
It would take at least six months for the effect of rupee‘s steep fall to reflect in export data, says Mahesh Vyas, MD & CEO, CMIE.
Mahesh Vyas, MD & CEO, CMIE told CNBC-TV18 that monsoon has been good and he expects agricultural production to recover and industrial growth to improve significantly in second half of FY14. Further, Vyas sees a good probability of the IIP recovering during this year.
Numbers given out by the IIP (Index of Industrial Production) have systematically underestimated growth in the industrial sector, believes Mahesh Vyas, MD & CEO, Centre for Monitoring Indian Economy (CMIE).
Mahesh Vyas, MD & CEO of Centre for Monitoring Indian Economy (CMIE) believes the Indian economy is witnessing an increase in the cycle of completion.
Mahesh Vyas of Centre for Monitoring the Indian Economy says the pace of investment had clearly slowed down in the first half of the current fiscal year. He says the slowdown was both in new proposals as well as execution.
In an interview with CNBC-TV18, Mahesh Vyas, MD & CEO of CMIE said that he expects inflation to remain high. There are no reasons to believe that inflation will significantly come down as the demand is quite high and supply is quite low, explains Vyas.
In an interview to CNBC-TV18, Mahesh Vyas, managing director and chief executive officer of Centre for Monitoring the Indian Economy (CMIE) says, new project proposals have declined significantly.
In an interview to CNBC-TV18, Mahesh Vyas, managing director and chief executive officer, CMIE said, slowdown in new investments announcement is is a short-term supply bottleneck. "Three important ingredients- coal, natural gas, and iron ore fell short very suddenly in 2011-12," he added.
Like many others, CMIE also has scaled down India's FY12 growth forecast to 7.1% against 7.8% projected earlier. With the dismal October IIP data, a further cut in GDP projections is likely, he added.
With food inflation rising to 11.43% and headline inflation at 9.73%, the situation is very worrying for India. But does the government have a well thought out strategy for tackling it or is it simply floundering for an answer?
The Centre for Monitoring Indian Economy (CMIE) has come out with a report where it has cut profit forecasts of the manufacturing sector.
Centre for Monitoring Indian Economy (CMIE) has cut India's FY12 growth forecast to 8.1% from 8.6%. In an interview to CNBC-TV18, Mahesh Vyas, CMIE said, delays in the commissioning of projects have made us less optimistic. According to him, there could be downward revision in the next two-three months, if things don’t improve.