Business & Economy Updates : 14, 15 August 2009
August 14, 2009: GOM (Group of Ministers ) Constituted to examine raising fuel prices
Prime Minister Manmohan Singh has recently taken a decision to constitute a GOM (group of Ministers) to look into the issue of high aviation fuel prices in India that has exacerbated the current crisis of the industry.
Some Interesting facts about Indian Aviation Industry:
- The size of Indian Aviation Industry is $ 14 billion.
- India’s per capita trip rate is 0.02 (China it is 0.1 & US it is 2.2 )
- Indian Aviation Industry grew by 46.4 % in 2006, 32.6 % in 2007 and declined by 4.7% in 2008.
- India’s population in million per aircraft is 2.89 (1.14 for China, 0.63 for Brazil, 0.31 for South Africa, 0.24 for Japan, 0.11 for Germany, 0.07 for Britain and 0.05 for the US)
August 14, 2009: Use of AC in government offices banned in Madhya Pradesh
Madhya Pradesh government has decided to stop using air conditioners in its offices till the power situation in the state improves.
August 15, 2009 : Investment Pact signed between China & ASEAN
On 15th August 2009, China and the Association of South East Asian Nations (ASEAN) signed an investment pact to boost bilateral investment by 40-60 % in next two years. It was signed in Bangkok.
Can You name the ASEAN countries? Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. I remember them by : CLIMP-MTV-BS (Mnemonics)
August 15, 2009: Latest Figures on Tourism in India 2008
Here are some figures issued by Tourism Indistry of India:
About 5.37 million foreign tourists visited India in 2008. 64.34% tourists came to India in 2008 from following 10 different countries:
- America: 827,866
- Britain : 787,197
- Bangladesh : 540092
- Sri Lanka : 228, 548
- Canada : 223587
- France: 217816
- Germany : 209252
- Japan : 150732
- Australia : 148055
- Malaysia : 119040
Note: What can be asked in exam from this data?
- Which country tops in Tourism arrivals in India
- Which are the top 4-5 countries representing highest number of tourist arrival in India.
- How many foreign tourists came to India in 2008.
August 15, 2009: India received $7 bn FDI in April June 2009:
India received $7 billion in foreign direct investment (FDI) during the first quarter of the current fiscal. Maximum inflow was in services including financial, non-financial, software, telecommunication, construction and real estate.
Note: In 2008 India got $ 1.6 Trillion in FDI.