India Economy

What they said

| Updated on December 01, 2012 Published on December 01, 2012

“The financial inclusion architecture is incomplete without microfinance.”

Finance Minister P. Chidambaram

“We do not want Mittal in France any longer because they do not respect France… Mittal’s lies since 2006 are damning.”

France's Industrial Renewal Minister Arnaud Montebourg

“India (may have) had many changes of government, but the outlook ‘might not be as bad as you might think...

I would have hope.”

Tata Group Head Ratan Tata

“Though there may be thousands of differences still persisting on the issue, and considering the consequences if the Government falls at the Centre, in bitterness, the DMK has decided to support the UPA Government on the issue.”

DMK Party Chief M. Karunanidhi, on upcoming vote on FDI in Parliament

“I have received a couple of complaints via e-mail. I assure you, if you have some problem, you can mail them to me… If required, I can sell my paintings to fund elections for the party.”

West Bengal Chief Minister Mamata Banerjee, to industrialists

“Front-running is an offence and we need to make a lot of improvement... Regulations on insider-trading are different, and we have to have a serious re-look at regulations.”

Securities and Exchange Board Chairman Upendra Kumar Sinha

“They (these companies) are making a big noise here and there that their projects do not get coal and are stranded. Someone should ask them, what about their responsibility for their failures… If you give directly to the captive users, they have a direct stake. Coal India is a business entity. Moreover, captive users have much more stake than just producing coal... No one is talking about them.”



CIL Chairman S. Narsing Rao, on complaints by power producers that fuel requirements not being met

“It is not necessary that we have to do it (divest stake in Neyveli Lignite (NLC) this fiscal.”

Coal Secretary S. K. Srivastava

“People are buying gold despite the high price. This in some ways challenges the supply-demand dynamics… India imports about one-fourth of the total global supply of a little over 4,000 tonnes, and this excess gold demand is creating stress on the system, particularly on the balance of payments.”



RBI Deputy Governor Subir Gokarn

“I was thinking of telling OECD that I just don’t think that they know what they are doing… The OECD (Organisation for Economic Cooperation and Development) estimate is completely wrong.”



Planning Commission Deputy Chairman Montek Singh Ahluwalia, on OECD’s 4.4 per cent growth estimate for Indian economy.

“We are also thinking that the time has come to go into the sea to generate more power from there also... Our plan is to become No. 1 (in the world).”

New and Renewable Energy Minister Farooq Abdullah.



“They (Government) are aware that these capacities are available today and they are much more competitive... (with increased imports) these capacities will be under-utilised, they are being under-utilised even today.”

BHEL Chairman B. P. Rao, on imposition of higher tax on import of power equipment.

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