Economic crisis in India 2013 | ALL Updates & News
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SarthakGanguly
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You are from Bangladesh. You stay in US. How are you bothered about PK economy or 'bloody Indians'?
Guynextdoor2
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No you don't- you need to have at least passed high school to understand these things. And your avatar is even more appropriate- zich, empty, nada...up there
http://economictimes.indiatimes.com/markets/stocks/market-news/sensex-crash-market-loses-over-100-billion-in-four-days/articleshow/21956300.cms
Sensex crash: Market loses over $100 billion in four days
By PTI | 21 Aug, 2013, 04.58PM IST
In the US dollar terms, the total market capitalisation has fallen from $1,025 billion to little over $900 billion in the past four days.
MUMBAI: The four-day carnage in stock markets has left investors poorer by over $100 billion, while they suffered a loss of more than Rs one lakh crore in today's trade itself.
Measured in terms of total market capitalisation of all listed companies, the investor wealth in Indian stocks today fell to Rs 58,60,000 crore -- registering a loss of close to Rs 1,09,000 crore from yesterday's level.
The stock market benchmark Sensex today lost another 340 points to close below the 18,000 level -- taking its total fall in last four trading sessions to over 1,400 points.
During the same period, the total market capitalisation has plunged by more than Rs 4.35 lakh crore.
However, the loss in terms of US dollar is much sharper, given a depreciation of about five per cent in rupee value in the past four trading days, beginning August 16. The rupee today hit a new bottom below Rs 64.5 level against the US dollar, from a level of Rs 61.43 on August 14.
In the US dollar terms, the total market capitalisation has fallen from $ 1,025 billion to little over $ 900 billion in the past four days.
India was recently edged out of the elite global league of stock markets with a trillion-dollar market capitalisation and its valuation continues to slip further below with persisting weakness in stocks and rupee values.
The market benchmark Sensex today closed at 17,905.91 points -- almost the same level that it was at a year ago (17885.26 points on August 21, 2012).
In the past one month, the Sensex has fallen by over 11 per cent, while it has dropped by more than seven per cent in the last seven days.
The markets were showing signs of strong revival early this year and the investors' wealth had topped Rs 70 lakh crore level, while moving closer to the record high level of about Rs 72 lakh crore scaled in January 2008.
After remaining mostly range-bound in the first five months of 2013, the markets started losing ground and the weakness continues amid concerns about domestic economy and adverse global cues.
Hmmm, that speaks more to your lack of education than mine, if you think basic arithmetic requires a high school diploma.
Sensex crash: Market loses over $100 billion in four days
By PTI | 21 Aug, 2013, 04.58PM IST
In the US dollar terms, the total market capitalisation has fallen from $1,025 billion to little over $900 billion in the past four days.
MUMBAI: The four-day carnage in stock markets has left investors poorer by over $100 billion, while they suffered a loss of more than Rs one lakh crore in today's trade itself.
Measured in terms of total market capitalisation of all listed companies, the investor wealth in Indian stocks today fell to Rs 58,60,000 crore -- registering a loss of close to Rs 1,09,000 crore from yesterday's level.
The stock market benchmark Sensex today lost another 340 points to close below the 18,000 level -- taking its total fall in last four trading sessions to over 1,400 points.
During the same period, the total market capitalisation has plunged by more than Rs 4.35 lakh crore.
However, the loss in terms of US dollar is much sharper, given a depreciation of about five per cent in rupee value in the past four trading days, beginning August 16. The rupee today hit a new bottom below Rs 64.5 level against the US dollar, from a level of Rs 61.43 on August 14.
In the US dollar terms, the total market capitalisation has fallen from $ 1,025 billion to little over $ 900 billion in the past four days.
India was recently edged out of the elite global league of stock markets with a trillion-dollar market capitalisation and its valuation continues to slip further below with persisting weakness in stocks and rupee values.
The market benchmark Sensex today closed at 17,905.91 points -- almost the same level that it was at a year ago (17885.26 points on August 21, 2012).
In the past one month, the Sensex has fallen by over 11 per cent, while it has dropped by more than seven per cent in the last seven days.
The markets were showing signs of strong revival early this year and the investors' wealth had topped Rs 70 lakh crore level, while moving closer to the record high level of about Rs 72 lakh crore scaled in January 2008.
After remaining mostly range-bound in the first five months of 2013, the markets started losing ground and the weakness continues amid concerns about domestic economy and adverse global cues.
Hmmm, that speaks more to your lack of education than mine, if you think basic arithmetic requires a high school diploma.
Come to think of it, Switzerland did succeed back in 2009-2010. But you are right, that was the very rare exception rather than the rule. India certainly will not succeed in its currency intervention.
cirr
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This is suicidal under the current economic climate。
India to launch cheap food scheme
20 August 2013 Last updated at 10:33 GMT Help
The Indian government is to launch a programme to provide subsidised food to two thirds of the population - nearly 800 million people.（didn't know India had just a large chunk of the population living on subsidized food）
The launch is going ahead even though the controversial Food Security Bill which maps out this welfare scheme is yet to be approved by parliament.
The scheme extends an existing subsidized-grain program - the BBC's Sanjoy Majumder heard some views from the streets of Delhi.
BBC News - India to launch cheap food scheme
India to launch cheap food scheme
20 August 2013 Last updated at 10:33 GMT Help
The Indian government is to launch a programme to provide subsidised food to two thirds of the population - nearly 800 million people.（didn't know India had just a large chunk of the population living on subsidized food）
The launch is going ahead even though the controversial Food Security Bill which maps out this welfare scheme is yet to be approved by parliament.
The scheme extends an existing subsidized-grain program - the BBC's Sanjoy Majumder heard some views from the streets of Delhi.
BBC News - India to launch cheap food scheme
How are Rising Prices Affecting Shoppers, Shopkeepers - India Real Time - WSJ
Rupee Decline Hits Study, Emigration Plans - India Real Time - WSJ
Inflation spike is coming. What will the RBI do with interest rates? With less purchasing power, the consumers will consume less, which will translate into diminished earnings. Will India even growth by 2-3% next year?
The vicious cycle is about to start. I hope it doesn't end with the government printing Rupees to pay bills. Argentina tried that in 1989, and the country hasn't recovered.
Rupee Decline Hits Study, Emigration Plans - India Real Time - WSJ
Inflation spike is coming. What will the RBI do with interest rates? With less purchasing power, the consumers will consume less, which will translate into diminished earnings. Will India even growth by 2-3% next year?
The vicious cycle is about to start. I hope it doesn't end with the government printing Rupees to pay bills. Argentina tried that in 1989, and the country hasn't recovered.
If they don't do this natives will be up in arms.
This is election politics. This is how the Congress Party bribes its vote banks so it may win the next elections. Never mind the collective and national interests. Disgraceful, utterly disgraceful.
SarthakGanguly
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Its something like this -
Congress has made up its mind it will go. Maybe take Sanyas forever from Indian politics.
So before they leave they will milk the cow dry. The life of a baroness in Italy sure does cost money. Especially when you have to carry an entire zoo along with you.
Congress has made up its mind it will go. Maybe take Sanyas forever from Indian politics.
So before they leave they will milk the cow dry. The life of a baroness in Italy sure does cost money. Especially when you have to carry an entire zoo along with you.
Guynextdoor2
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in your case it does, slow brain development
Mr cool
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Rupee fall helps exporters to up competitiveness in market: FIEO
Exporters body Federation of Indian Export Organisations (FIEO) on Tuesday said rupee depreciation has helped in increasing competitiveness of domestic exports as traders have registered over 20 per cent growth in order books.
FIEO President Rafeeque Ahmed asked exporters to use rupee depreciation to augment exports by cutting down their prices and out price their competitors.
"Rupee depreciation has imparted some competitiveness to exports which are visible in order book positions where we are seeing over 20 per cent growth across many sectors," he said in a statement.
He said that the country would easily cross the exports targets for the current fiscal and trade deficit will be much less as compared to 2012-13.
The government has fixed an export target of $325 billion for the current fiscal. In 2012-13, trade defciit touched an all time high of $191 billion.
The rupee on Tuesday made a smart recovery to close at 63.25 after hitting a fresh low of 64.13 against the US dollar, helped by massive intervention by RBI.
He also said that this is a temporary phase and rupee will strengthen in the coming months.
"Improvement in overall economic parameters in the US and modest growth in Europe in last quarter would help Indias exports which may clock by 20 per cent from October onwards," he said.
However, engineering exporters body EEPC INDIA Chairman Aman Chadha said that rupee depreciation in rapid succession will not have major impact on the sector's exports.
"Engineering exports are based on long term contracts and reworking such contracts takes time and the buyer also negotiates, so the net impact many a times is more uncertainty," Chadha said.
He said that when the main problem is lack of demand in global markets, such sharp depreciation will not have any major impact.
Rupee fall helps exporters to up competitiveness in market: FIEO - Business Today
US revival, rupee moves to boost exports 20% higher: FIEO - CNBC-TV18
Exporters body Federation of Indian Export Organisations (FIEO) on Tuesday said rupee depreciation has helped in increasing competitiveness of domestic exports as traders have registered over 20 per cent growth in order books.
FIEO President Rafeeque Ahmed asked exporters to use rupee depreciation to augment exports by cutting down their prices and out price their competitors.
"Rupee depreciation has imparted some competitiveness to exports which are visible in order book positions where we are seeing over 20 per cent growth across many sectors," he said in a statement.
He said that the country would easily cross the exports targets for the current fiscal and trade deficit will be much less as compared to 2012-13.
The government has fixed an export target of $325 billion for the current fiscal. In 2012-13, trade defciit touched an all time high of $191 billion.
The rupee on Tuesday made a smart recovery to close at 63.25 after hitting a fresh low of 64.13 against the US dollar, helped by massive intervention by RBI.
He also said that this is a temporary phase and rupee will strengthen in the coming months.
"Improvement in overall economic parameters in the US and modest growth in Europe in last quarter would help Indias exports which may clock by 20 per cent from October onwards," he said.
However, engineering exporters body EEPC INDIA Chairman Aman Chadha said that rupee depreciation in rapid succession will not have major impact on the sector's exports.
"Engineering exports are based on long term contracts and reworking such contracts takes time and the buyer also negotiates, so the net impact many a times is more uncertainty," Chadha said.
He said that when the main problem is lack of demand in global markets, such sharp depreciation will not have any major impact.
Rupee fall helps exporters to up competitiveness in market: FIEO - Business Today
US revival, rupee moves to boost exports 20% higher: FIEO - CNBC-TV18
TopCat
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In coming month all the gain by rupee depreciation will be eaten by stagnation and high interest. Those who are hoping for more export due to depreciation of rupees are complete retard and does not know any economics.
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