Indian Economy-News & Updates

[SpArK]

Swedish retail giant has grand designs on India : World, News - India Today

 

[Gandhi G in da house]

Swedish retail giant has grand designs on India : World, News - India Today

I am really awaiting the day multi-brand retail FDI will be allowed in India. I hope it is done soon

 

[laman12345]

so sorry to tell you a very bad news

11:20 am

Rupee hits new record low at $57.012 today!!

USD INR Chart | Dollar Indian Rupee Real Time Chart

will it touch 58 next week?

India FDI slumps 41% to $1.8b in April

NEW DELHI Reflecting slowdown in the economy and erosion of investor confidence, foreign direct investment (FDI) in India has declined by 41 per cent to $1.85 billion in April.

FDI inflows dip 8% this year

NEW DELHI: Global investors seem less bullish on India after a series of policy flip flops by the government sapped confidence. Latest data released by the Reserve Bank of India showed that foreign direct investment inflows slipped nearly 8% to $7.8 billion during January-April 2012.

Indian Rupee Drops To 56.155 near record Low On Inflow Concerns

Oman Tribune - the edge of knowledge

FDI inflows dip 8% this year - The Times of India

dangerous trend

India inflation jumps to 10.36% in May

Jun 18, 2012

NEW DELHI: Vegetable prices recorded the maximum spurt in prices, up 26.59%, followed by edible oils 18.21% and milk products 13.74% in May, year-on-year basis. Prices of egg, fish and meat shot up 10.50%.

Prices of egg, fish and meat shot up 10.50%, while non-alcoholic beverages became costlier 9.44%.

Inflation rates for rural and urban areas were 9.57% and 11.52% respectively in May.

Retail inflation up to 10.36% in May

the inflation of India out of control?!

bads news for all indians

 

[cloud_9]

BPCL starts rupee payments for Iran oil - Report

Bharat Petroleum Corp has made its first payment for Iranian oil in rupees, two industry sources said on Tuesday, becoming the first refiner to use a payment channel that skirts tightening Western sanctions on Iran's trade.

India is Iran's second-largest oil buyer, but has struggled to find ways to pay for the oil as Western sanctions curb international financial payments destined for Tehran's coffers. Since December 2010, refiners in India have been using Turkey's Halkbank to pay their annual oil import bill of more than USD 10 billion, after a previous payment channel was blocked.

Tehran and New Delhi agreed in January to settle 45% of the oil trade in rupees to ensure payments continue should any problem arise with the Halkbank agreement, and also as a way to encourage more exports from India to Iran that could be settled in rupees.

One of the source familiar with the development said that "BPCL made (its) first payment on Friday and the second on Saturday. It has settled a backlog of 27 billion rupees for last fiscal year's imports.” The figure is equivalent to USD 482.19 million.

BPCL, unlike other refiners, could not open an account with Halkbank to pay for oil imports to the National Iranian Oil Co. BPCL last received oil from Iran in January.

The rupee is not freely traded so Iran's ability to use the currency to buy anything other than Indian products is limited. India last week lifted a hefty tax on the rupee payments, a move refiners had awaited before starting to make payments into the account.

Indian refiners are expected to cut volumes under the term deals by more than 20% in the year that began in April, According to Reuters' calculations, while the government says imports could drop by 11 percent from 2011/12 figures to about 310,000 bpd.

I am really awaiting the day multi-brand retail FDI will be allowed in India. I hope it is done soon

FDI in multi-brand retail: Anand Sharma seeks support of UP, Odisha, Punjab

NEW DELHI: Commerce and industry minister Anand Sharma has sought the support of chief ministers of Punjab, Odisha and UP on the contentious issue of allowing foreign direct investment, or FDI, in multi-brand retail.

In letters addressed to the three chief ministers on June 19, Sharma said FDI in multi-brand retail seeks to benefit consumers and farmers as both will get better prices. "Opening up FDI in multi-brand retail will bring in much-needed investments, technologies and efficiencies to unlock the true potential of the agricultural value chain," Sharma said in the letters.


In a statement on Thursday, Sharma also expressed confidence that a "political consensus" would be arrived at on the issue in the next few weeks.

"I am confident that the coming weeks will see the emergence of political consensus on liberalising FDI in multi-brand retail, which will open immense opportunities," the statement said.

In his letters to the chief ministers, the minister pointed out the proposed policy mandates minimum investment of $100 million (Rs 560 crore at current exchange rate) with at least half going towards back-end infrastructure including cold chains, refrigerated transportation and logistics, which, he said, would help in containing wastage.

The Centre has been trying to introduce a policy change that would allow FDI in multi-brand retail, but it has met with stiff opposition from small retailers and a number of state governments.

The minister said the stipulated mandatory 30% sourcing from small industry would encourage local value addition and manufacturing. It would also unfold "immense employment opportunities" for rural youth and make them stakeholders in the entire agriculture business chain, from farm to fork, the letters said. Reassuring states that they would continue to have a say in decision making, Sharma said the Centre has taken a conscious decision of leaving the implementation to the states.

"The FDI policy cleared by the Cabinet will be an overarching enabling policy framework and the states will be free to take appropriate decision on its implementation," he said.

 

[India defense]

will it touch 58 next week?

dangerous trend

bads news for all indians

Our data is correct so we can worry and correct the problem....but you guys are cheats

 

[laman12345]

Our data is correct so we can worry and correct the problem....but you guys are cheats

come to shanghai or any cities in china, you will shut up. over 10 millions foreigners living in china they can tell u how powerful china is. u can still bury head into sand with your slums, old train, overpopulation environment, poor infrastructure, indians can't accept the reality

 

[Sergi]

come to shanghai or any cities in china, you will shut up. over 10 millions foreigners living in china they can tell u how powerful china is. u can still bury head into sand with your slums, old train, overpopulation environment, poor infrastructure, indians can't accept the reality

Yes exactly they aren't supposed to tell anything else than the authorised speech
India do accept reality and everyone in India is free to voice is concerns or joy. We don't need to online @ss to satisfy our desire. We have a recognisation and we can talk against givt. Something called Democracy ever heard of that .... Or just rolling tanks in suare

 

[laman12345]

Yes exactly they aren't supposed to tell anything else than the authorised speech
India do accept reality and everyone in India is free to voice is concerns or joy. We don't need to online @ss to satisfy our desire. We have a recognisation and we can talk against givt. Something called Democracy ever heard of that .... Or just rolling tanks in suare

rofl, our chinese unique system is far better than democracy system

1. the Mother of democracy greece going to collapse

2. the Land of democracy europe is in chaos with high unemployment, high debt

3. China are the money master of poor usa

all Chinese can became China central government leaders or regional government leaders, e.g our chinese leaders all are from poor family, just like our President Hu and Premier Mr. wen.

http://img4.bbs.**********/uploadfiles/images/2012/06/21/0621020535520.JPG

 

[laman12345]

your india stupid democracy is ruled by a single family - Gandhi.

Monarchy of Gandhi Family

Also The Indian parliament is full of relatives – more than ever before. Mothers and sons, fathers and sons, fathers and daughters, third-generation stars, wives, widows, in-laws, uncles and nephews.
Indian politics is a family affair | guardian.co.uk

we are far better than you, because all Chinese can became China central government leaders or regional government leaders, e.g our chinese leaders all are from poor family, just like our President Hu and Premier Mr. wen.

 

[Holmes]

@laman12345 WT* false flagger?
ban him!

India Plans to Stimulate Economy

By PRASANTA SAHU And SUDEEP JAIN

NEW DELHI—The Indian government plans to take steps to boost exports and increase dollar inflows to give a much-need lift to the economy and arrest the slide in the Indian rupee, a senior official from the finance ministry said Saturday.

The government also could cut excise duty on certain products to increase local consumption, the official said. He declined to elaborate on what steps the government could take to boost exports.

India's government is under intense pressure to take steps to curb the slide in the rupee, which fell to a record low of 57.33 to the U.S. dollar Friday.

Indian Finance Minister Pranab Mukherjee on Saturday told reporters in Kolkata that the Indian government will announce measures Monday to improve market conditions, without elaborating, according to a report by the Press Trust of India.

The rupee's losses—the currency has lost 21% against the dollar over the past 12 months—have been attributed by analysts to India's wide current-account and fiscal-account deficits amid slowing domestic growth and high inflation. The weak fundamentals have made the rupee vulnerable to risk aversion stemming from the widening sovereign-debt crisis in Europe and concerns about slowing global growth.

The government official said no decision has been made to increase foreign-investment limits in local bonds but such a step cannot be ruled out. Such a move would potentially increase dollar inflows and support the rupee.

Foreign institutions are allowed to invest $15 billion and $20 billion in government and corporate debt, respectively.

Analysts expect the Indian government also to announce measures Monday aimed at taming India's fiscal- and current-account deficits.

"There could be something on divestment, spectrum sale or fuel reforms—these are three most likely things," said Madan Sabnavis, chief economist of CARE Ratings.

The government is relying on the auction of bandwidth to telecommunications companies and stake sales in state-owned companies to help bridge its budget gap. It is also under pressure to cut spending on subsidies, especially fuel. Because India imports three-fourths of its crude-oil requirement, the fuel subsidies have been blamed for keeping the demand for fuel artificially high and swelling India's current-account deficit.

India Plans to Stimulate Economy - WSJ.com

 

[pm modi]

With $85 trillion, how
India can become
world's largest
economy
Nov 12, 2011, 10.21am IST
The writer Minhaz Merchant is
the Chairman, Merchant Media
Ltd
According to a study by US
banking group Citi, India will be
the world's largest economy
within 39 years. Indian GDP in
2050, measured by purchasing
power parity (PPP), will be $85.97
trillion. China, in second place,
will have a GDP of $ 80.02 trillion
and the US $ 39.07 trillion (see
chart).
With an estimated population in
2050 of 1.63 billion, India will
thus have a per capita income of
over $53,000 - in the range of
today's wealthiest countries like
Switzerland and Norway. Sounds
too good to be true? Of course it
is.
On paper - mathematically -
Indian poverty should disappear
by 2050. The reason it won't is
that huge inequalities in income
will persist unless we rapidly
implement second-generation
economic reforms which deliver
real benefits to the bottom of
India's socio-economic pyramid.
The first chart in our three-chart
collage shows the ranking of the
top five countries by GDP in 2050
as per Citi's projections. Indian
GDP in 2011 is estimated at $4.45
trillion (PPP). To reach $85.97
trillion in 2050, the Indian
economy will have to grow at an
average annual rate of 8.1% a
year for the next 39 years.
Optimistic? Perhaps, but not
overly so.
The Citi study relies heavily on
India's two dividends -
demographic and democratic.
The demographic dividend will
ensure that India has the largest
number of working-age people
in the world (over 800 million)
between 2015 and 2035 before
tapering off as our population
reaches a plateau of just over
1.60 billion and starts ageing (as
China's already is). Fertility rates
of increasingly educated urban
and rural Indian women will dip
from today's 2.6 to 1.7, which is
when a country's birth and death
rates equalise.
A large number of working-age
Indians between 18 and 60,
however, will be less than
optimally productive if they
remain poorly educated and are
therefore unemployable. To gain
from our 20-year demographic
sweet spot, education reform
must clearly top the
government's agenda. Infosys
mentor N R Narayana Murthy was
partly right when he said that the
standard of IIT students has
fallen. It has. Too many are rote-
learners, spewed out by
coaching classes, not creative
thinkers.
Education reform must start with
government-run primary schools.
Shockingly, in some villages,
primary schools have no
teachers, no students and an
empty shed that serves as a
classroom. The government
spends 52,000 crore on
education every year. That is less
than it spends on fertiliser
subsidy alone ( 55,000 crore).
The second dividend Citi banks
on to project India's rise to the
top of the GDP rankings in 2050 -
especially in comparison with
China - is democracy. China's
autocratic government, the
argument goes, can command
10% GDP growth, build
superhighways and create
gleaming infrastructure.
But beneath the towers and the
maglev bullet train tracks of
Shanghai lurks social tension. As
China's per capita income rises,
its 1.34 billion people will
increasingly yearn for real
freedom: a free press, an open
Internet and, most crucially,
democracy.
If the Chinese government can't
deliver on these, a "Chinese
Spring" a decade hence cannot
be ruled out. That could plunge
China into years of uncertainty.
Throughout history, as countries
grew richer, they grew freer. Will
China prove an exception?
Unlikely. By that token, India's
democracy is a double-edge
scimitar. Our raucous, open
society takes us two steps
forward economically and then
one step backwards.
But if governance reforms - land,
electoral, judicial and police - are
implemented quickly, the stage
could be set for second-
generation economic reforms
that will turn our democratic
institutions into assets for long-
term economic and social
growth. We will then move from
a culture of high subsidies leaked
to corrupt middlemen to a
culture of high productivity.
Second-generation economic
reforms were stuck in UPA-I
because of the Left's ideological
opposition and have been
derailed in UPA-II because of
muddle-headed opposition from
within the fractious UPA coalition
itself. It is time to cast off the
fetters.
We must allow FDI in retail,
introduce hybrid agricultural
technology to double crop yields
within a decade, modernise
infrastructure, make land
acquisition fairer to farmers,
improve healthcare, pass
enabling legislation to unleash
the entrepreneurial energy of
small and medium enterprises -
the backbone of our economy -
and implement tough, effective
regulation to clean up business
practice.
India is set to become the
world's third largest economy in
the world in 2011 largely
because Japan's GDP will shrink
by around 2% to $4.42 trillion
following the devastating
earthquake and tsunami. But if a
growing GDP is not to become a
cruel irony for India's 445 million
still-desperately poor people, the
government must begin the
second stage of economic
liberalisation without losing any
further time.
Examine our second and third
charts. The one on top is
pyramid-shaped, split into three
sections. It reflects India's
current household income
structure: a large base of the
poor and relatively poor of over
860 million, a narrow
intermediate section of the
middle-class around 280 million
and a tiny tip of the reasonably
well-off of 70 million.
The chart below it is diamond-
shaped and reflects the shape of
things to come in 2050 if political
and economic reforms have their
desired effect. The bottom
section comprises around 330
million of the poor and relatively
poor (down from 860 million
today), the top section comprises
the well-off, around 300 million,
up from 70 million today and the
intermediate bulge comprises
the expanded middle-class of
nearly one billion, up from 280
million today. That is the future.
We must lay its foundation today.
FEATURED ARTICLES

 

[India defense]

rofl, our chinese unique system is far better than democracy system

1. the Mother of democracy greece going to collapse

2. the Land of democracy europe is in chaos with high unemployment, high debt

3. China are the money master of poor usa

all Chinese can became China central government leaders or regional government leaders, e.g our chinese leaders all are from poor family, just like our President Hu and Premier Mr. wen.

http://img4.bbs.**********/uploadfiles/images/2012/06/21/0621020535520.JPG

Why is he bending...what he wants Manmohan to do?

 

[kkacer]

Why is he bending...what he wants Manmohan to do?

President Hu picks up China's dignity

 

[India defense]

President Hu picks up China's dignity

And bend his back before Manmohan Singh

 

[kkacer]

And bend his back before Manmohan Singh

big mouth india's econ collapsing i know u are unhappy, ok. masturbate it with the photo