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Overall responsiveness of the tax system to changes in economic activity improved from an average of 0.9% from 1980–1985 to an average of 1.5% from 1986 to 1991. The buoyancy coefficient for import duties rose from an average of 0.5% before the reform to an average of 1.89% from 1986 to 1991. [22]
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In May 2009, India reported an economic growth rate of 5.8%, beating most forecasts. [43] In second quarter of 2009 the Indian economy grew by 7.9% and gave indications that the Indian economy would scale a growth rate of 7% or above in 2009 and 8-9% in 2010. In the 3rd Quarter of 2010, the economy had bounced back with a growth rate of 8.8%.
January 5. Criminal charges are filed against the son of DAR Secretary Nasser Pangandaman and four others in connection with the mauling of Delfin dela Paz and his 14-year-old son in the presence of Pangandaman himself. [1] Three Red Cross officials, Swiss Andreas Notter, Filipino Mary Jane Lacaba and Italian Eugenio Vagni are kidnapped.