GDP growth can reach 6.5% in 2014-15 with reforms: CII

     1.    GDP growth can reach 6.5% in 2014-15 with reforms: CII

(i). According to the new president of the Confederation of Indian Industry (CII), India can achieve GDP growth rate of well over 6% provided that systemic reforms are carried out quickly by the new government.  

(ii). In the period of 2004-08 the GDP was at an average growing at the level of 9%, thereafter for next 2 years the average growth fell down to 7% and in the last few years it has lowered further. One of the important issues which the lower economic growth brings to the forefront is of job creation and with no economic growth it will be a greater challenge.

(iii). Unveiling the CII action theme for the year as 'Accelerating Growth, Creating Employment', he  said, "With slowing growth and high inflation adversely impacting employment, CII will urge the next government to focus on reviving growth and generating new jobs."

(iv). He added that CII has proposed a strong 100-day action agenda for the new government to boost growth. "A strong economic revival package and right implementation of policies by a fresh Government can help create as many as 150 million jobs in the next ten years

(v). CII further stated that with continuing robust reforms, GDP growth could be taken back to the 8 per cent level in the next three years.

      2     BHEL commissions Gas Turbine Generating Unit in Oman

(i). The Bharat Heavy Electricals Limited, BHEL has commissioned Gas Turbine Generating unit at a power project in Oman. The 126 MW Gas Turbine Generator at Qarn Alam-3 power project of Petroleum Development Oman is the second successive project of BHEL in Oman.

(ii). It has earlier commissioned two units of 126 MW Petroleum Development Oman Amal Gas Turbine Generating project in 2012.

(iii). The Gas Turbine Generator units were engineered, manufactured and supplied by BHEL's Hyderabad Plant while the control system has been supplied by the company's Bangalore works. Oman is one of the key export territories of BHEL.

(iv). The public sector company has secured and executed 14 major contracts which include the supply of 16 Gas Turbine sets in Oman alone in the past nearly two decades. BHEL is currently executing various power plant projects in 20 countries for installing 7,000 MW power generating capacity worth over three Billion dollars.