Six Core Industries in India

The Index of Six core industries have a combined weight
of 26.7 per cent in the Index of Industrial Production (IIP) with
base 1993-94. So it is a very important indicator of India's growth.

During April-February 2010-11,
six core industries registered a growth of 5.7% (provisional) as
against 5.4% during the corresponding period of the previous
year.
Index of Six core industries contains following six core industries.

1-Crude Oil


2-Petroleum Refinery Product

3-Coal


4-Electricity


5-Cement


6-Finished (carbon) steel

India's export data

Microsoft to ‘Support’ Cloud Computing Startups in India

Microsoft Corp. (MSFT), the world’s largest software maker, will provide financial “support” to four cloud-computing startups in India, Chief Operating Officer Kevin Turner said.

The support will be in the form of “grants” and will amount to about $100,000 in total, Turner said in Mumbai today, without elaborating.

Microsoft and Adobe Systems Inc. are among companies that will gain from a U.S. government shift of as much as $20 billion in e-mail, website management and claims processing systems to so-called cloud computing. Microsoft is betting businesses will increase spending on computing services and applications accessed through the Internet instead of through individual servers and plans to spend 90 percent of its $9.6 billion research and development budget on cloud strategy this year.

Source: http://www.bloomberg.com

Currenct affairs

1- Vedanta will acquire 50-60 % stake in Crain energy India. Crain is second largest private sector Oil explorer in India. It has oil fields in Rajasthan.

2-Anil agarwal is the promoter of Vedanta PLC , a London listed firm.

1-RIL bought infotel at 48,00 crore.

2-Inflation rate( WPI inflation ) for the month of May is 10.16% yoy. Indian official inflation indicator is WPI ( Wholesale price index) but most emerging economies and developed world use CPI ( consumer price index) as their main indicator.

1-Govt will divest 10% stake in both coal india ltd and hindustan copper in capital market via IPO of COAL India LTD and FPO of Hindustan copper.

IPO- Initial public offering

FPO- Follow-on public offer

2- America found huge amount of mineral resources in Afghanistan. Inital estimations are valuing these mineral resources at around One Trillion( 1000 billion) US dollar which is approximately equal to the size of India GDP.
This huge amount of mineral resources will provide great boost to Afghanistan's economy. Current size of Afghanistan GDP in 12 billion US dollar.

3-April industrial output (IIP) growth rate is 17.6% Year on year.

4- April manufacturing production rose 19.4%,Mining output was up 11.4% and power generation was 6%.

5- Fourth quarter FY 09-10 GDP growth rate was 8.6%.

6- Fiat will re-launch small car UNO in India.

7- Newly elected Japan P.M- NAOTO KAN

8- India's foreign secretary- Nirupama Rao

9- Comptroller and auditor general of India - Vinod Rai

1- Finance secretary - Mr. Ashok Chawal

2- IRDA chief- Mr J Harinayaran

3-Chief information commissioner - MR Wajahat habibullah

4-Chief of Economic advisory council to prime minister - MR. C Rangarajan

5- Chief statistician of India- MR. Pronab sen

6- Chairperson of PFRDA(pension fund regulatory and development authority)- MR. R Gopalan