India Economy

What they said

| Updated on October 20, 2012 Published on October 20, 2012

President Pranab Mukherjee

Rural Development Minister Jairam Ramesh

IT & Communications Minister Kapil Sibal.

Axis Bank MD and Chief Executive Shikha Sharma

In the present international environment of rising petroleum prices, greater alignment of prices to global prices is in the interest of both consumers as well as investors... The Government of India is committed to adopt a time-bound programme to achieve this. I expect the industry to play a helpful role in achieving the Government’s objectives.”

President Pranab Mukherjee

For India, energy security is a truly central issue. India is likely to emerge as one of the top 3 or 4 importers in the world, of all energy forms - oil, coal, gas and uranium.”

Petroleum Minister S. Jaipal Reddy

I am concerned about complaints of corruption in the Mahatma Gandhi National Rural Employment Guarantee scheme from various States. At some places, payments were made towards wages in the names of persons who were dead… In consultation with the State Governments, the Ministry has decided to make this scheme more transparent and also conduct random audit of 10 per cent of village Panchayats every year to check corruption.”

Rural Development Minister Jairam Ramesh

A prospectus is a document with legal validity and the company is legally bound to abide by the disclosures made therein… the company would be legally bound to comply with the matters stated in the prospectus, based on which it has raised money from the public


A lot of time was taken by other issues and there wasn’t enough time left to take a decision immediately on that (re-farming)… We intend to take a decision on the re-farming issue prior to start of auction.”

IT & Communications Minister Kapil Sibal, on 2G spectrum re-farming

In our estimation, the Indian market will graduate to the use of a larger number of sophisticated corn starch products, the know-how of which we do not possess. Consequently, there would have been an increasing preference to work with international majors, which would have gradually eroded our business relevance. This trend would have gradually reduced us from a leading player in the Indian corn starch space to a marginal participant.”

Riddhi Siddhi Gluco Biols Ltd MD Ganpatraj Chowdhary, on plans for an acquisition

While monetary policy needs to focus both on inflation and growth, given the recent fiscal measures, which are hopefully going take us towards a better situation on fiscal consolidation, I think the leaning of policy right now needs to be on growth… We just can’t afford to have growth being stopped below 5 per cent. Therefore, I would see CRR cut by 50 basis points.”

Axis Bank MD and Chief Executive Shikha Sharma

Published on October 20, 2012
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