Friday, June 1, 2012

Growth story goes awry, GDP plunges to 5.3%


Almost all newspapers have carried on their front page the nose dive of the economic growth, to a nine year low. The Times of India headline reads "Economy gasps as Q4 growth, sputters to 5.3%" The Pioneer headline aptly reads "Growth story goes awry, GDP plunges to 5.3%. The Economic Time elaborates-with the currency in decline, wobbly markets, soaring deficits and growth at 9 year low-it is time to say goodbye 2020 and hello 1991.
Most news papers have also carried the Union cabinets nod to the New Telecom policy 2012 on their front pages. The Tribune writes Govt. rings in free roaming. New Telecom Policy - no more roaming says the Asian Age. The Hindu applauds the NTP 2012 for allowing number portability and abolishing roaming charges.
The Central Vigilance Commission (CVC) has recommended a CBI probe into the misuse of coal blocks allocated to some companies reports the Hindustan Times under the headline CVC forwards coal blocks case to CBI.
"Booked out of Jet, Expat Pilots may land at strike-hit Air India" reads The Economic Times headline. With this, the stricken national career is attempting to restore some semblance of normalcy to its crippled international operations and improve financial performance to meet the milestones set by the government as a condition for the Rs.30,000 crore bailout package.
Senior BJP leader Lal Krishan Advani has created a flutter within party circles by claiming that the mood within the party these days in not upbeat, and has called for introspection. The veteran leader is critical of BJP's decision to embrace a scam-tainted BSP Minister ahead of Uttar Pradesh Poll besides the poor handling of the Karnataka & Jharkahand affairs. The story has been carried in the Pioneer and The Asian Age.

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