Indian Economy-News & Updates

[Matrixx]

DO NOT DISTURB
Fake & Cheap (like their products) Chinese are trolling here.....

 

[IndoCarib]

Indian Stock Markets On Steroids

The Indian stock markets started off the day with a bang and traded in a strong positive zone for the entire session today. The government's clarifications on General Anti Avoidance Rules (GAAR) guidelines boosted market sentiment. However the complete details of the changes are still awaited. Positive news also emanated from the eurozone, which also encouraged investors. Eurozone leaders struck a deal by opening the door for rescue funds to help bring down the high borrowing costs of troubled nations.

India Markets Friday Wrap-Up: Indian Stock Markets On Steroids - Seeking Alpha

 

[Matrixx]

Core sector growth improves to 4.6 per cent in May - The Times of India

 

[baajey]

the weak indian government surrenders to a policy hugely unfavoured by foreign companies. who is governing india?

Rupee gains most in 3 years as risk assets rally | Reuters

loosers.........

 

[shuttler]

loosers.........

I agree! They are better not to declare the law and now you backtrack it under manipulated currency and economic pressures by foreign dealers and hedge fund managers! This is a very bad case precedent which opens up for more foreign exploitation in future!

 

[Gandhi G in da house]

India



India’s economy

The fightback

 

[IndoCarib]

Well, Bihar hasn’t been hit at all. According to the Central Statistics Office’s (CSO) website, Bihar’s state domestic product at constant (2004-05) prices grew at 13.13% in 2011-12. That’s a fantastic rate of growth, more than double that of the entire country. Chhattisgarh, another emerging star, grew by 10.81% last fiscal. These states are dependent on agriculture and government spending and a slowdown in manufacturing and exports doesn’t really hurt them much.

What about the previous fiscal year, 2010-11? The Indian economy as a whole grew by 8.4% that year. Bihar’s miracle economy grew by an extraordinary 14.77% that year. Chhattisgarh’s growth was 11.16%.

So which were the states that pulled the average down? Well, Punjab hasn’t been doing too well for quite some time and it grew a comparatively lukewarm 7.04% in 2010-11. But Gujarat, Maharashtra and Rajasthan grew in double digits and even Uttar Pradesh’s economy expanded by 7.86%. Andhra Pradesh’s growth was almost 10%. In fact, out of the 32 states and union territories, only 13 had rates of growth lower than 8.4%, the national average.

The states are together growing faster than the Indian Union! - Columns - livemint.com

 

[fast]

the rowdy chests thumping has subsided temporarily and now this for more of your thumping party:

Jan-March current account gap at record high
Jun 29, 2012

(Reuters) - India's current account deficit touched a record high in the March quarter, as surging imports and only moderate export growth pushed up the trade deficit, keeping the balance of payments in deficit for the second quarter in a row.

Hefty oil and gold imports weighed on India's external position during the quarter, although economists said they expect the gap to narrow in the June quarter as oil prices fell and gold imports eased.

The widening current account deficit has weighed on the rupee, pulling the unit to a record low of 57.32 to the dollar on June 22.

Investors have become wary of Indian markets as economic growth slipped to a nine-year low, the current account deficit widened and Standard & Poor's threatened to cut the country's credit rating to junk, making the rupee the worst performing currency in Asia this year.

"What it (rupee) hasn't factored in is a likely improvement in the current account in the first quarter (April-June)," said Abheek Barua, chief economist at HDFC Bank in New Delhi. "So there is scope for a reversal and stability in the rupee."

India's balance of payments deficit was $5.7 billion in the first three months of 2012, narrower than the $12.8 billion deficit in the December quarter, Reserve Bank of India data showed. But that compared with a surplus of $2 billion in the March quarter of 2011.

"Despite the slowdown in economic activity and rupee depreciation, growth in merchandise imports moderated only mildly from 27.7 percent in the fourth quarter of (fiscal) 2010-11 to 22.6 percent in the fourth quarter of 2011-12, reflecting inelastic demand for gold and oil," the central bank said on Friday. The fiscal year ends in March.

The country's current account deficit hit an all-time high of $21.7 billion in the March quarter, or 4.5 percent of gross domestic product (GDP), from $6.3 billion in the same quarter a year earlier, the RBI data showed.

For the full fiscal year of 2011/12, the current account deficit was $78.2 billion or 4.2 percent of GDP, deeper than the $46 billion deficit in 2010/11, the RBI said.

In the December quarter, the current account deficit was $19.95 billion.

"I expect the (current account) deficit to reduce over the next two quarters due to lower oil prices, and slower gold imports," said D.K. Joshi, chief economist at CRISIL, adding that he expects the current account deficit for the current fiscal year at 3.6 percent of GDP.

India's trade deficit in the March quarter stood at $51.6 billion, from a $48.7 billion deficit in the December quarter and a $30 billion deficit a year earlier.

India's financial account, which includes foreign direct investment and portfolio investment as well as overseas borrowing by Indian companies, ran a surplus of $16.5 billion in the March quarter compared with $20.5 billion in the October quarter and $9.1 billion a year earlier.

No doubt caused by the failed policies of GOI. It's like watching a slow train wreck that suddenly accelerated to fall off a cliff.

 

[arp2041]

India wants to double tourist numbers by 2016: Sahai

India, which sees an average of six million tourists visiting the country every year, wants to double the number by the year 2016, by promoting wellness and medical tourism, Union Tourism Minister has said.

India gets just over six million tourists every year and the government wants to double this number by the year 2016, Tourism Minister Subodh Kant Sahai said.

He said that outbound tourists from India are four times more than inbound tourists and the government has decided to take steps to improve these numbers.

He was speaking to media on the sidelines of an Incredible India Road Show which was organised here yesterday.
Senior officials and tourism authorities of Assam, Rajasthan, Delhi, Uttarakhand and Maharashtra were also present on the occasion.

"We need 200,000 rooms in India. We need exhibition centres, convention centres, theme parks etc.

"There is scope for promoting wellness tourism, medical tourism by propagating ayurveda and yoga etc. We have the Himalayas, we have 7,000 km of coastal areas that are all potential tourist attractions," the minister said.

Sahai announced that a tourism promotion forum will be set up at the Indian Embassy in Abu Dhabi which will have representation from the tourism industry.

He said that around Rs 40,000 crore is needed to develop India's tourism industry.

"The tourism promotion forum will suggest ways to improve things and we will act upon their suggestions," the minister said.

He added that a MoU will also be signed between India and the UAE to jointly promote tourism.

Speaking on the occasion, India's ambassador to the UAE M K Lokesh said there is a lot of diversity in terms of tourist attractions in India.

India is the third largest source of foreign tourists to the UAE, he said.

Tour operators and airline officials also attended a B2B session that was organised on the sidelines of the Road Show.

There has been a consistent growth of foreign tourist arrivals from the Gulf and the Middle East region to India over the last 2-3 years with year 2010 having registered an overall growth of around 17 per cent over the previous year.

According to India Tourism officials, foreign tourist arrivals in India touched 6. 29 million in 2011.

Till May this year, the number had reached 2.8 million and the foreign exchange earning during this period stood at USD 7297 million.

The ministry of tourism has set an aim to increase India's share in international tourist arrivals from 0.6 per cent to 1 per cent by the year 2016.

India wants to double tourist numbers by 2016: Sahai | Business Standard

 

[Kesang]

NE States to Get Rs. 100cr forRice Cultivation

The Northeastern States of the country are going to get Rs 100 crore within this year from the Agriculture Ministry for supporting various activities relating to rice cultivation under the National Food Security Mission (NFSM). All the eight Northeastern States including Sikkim are being covered under NFSM-rice this year.
Till last year, only Assam was covered under the NFSM-rice. Under NFSM-rice, States are given assistance for a large number of activities including seed distribution, soil management, pest control, machines and tools, training and field demonstrations. The interventions planned under NFSM are likely to improve rice yield, which is low in the Northeastern States which will also help the States in becoming self-sufficient in rice production

NE States to Get Rs. 100cr for Rice Cultivation | Northeast Today

 

[cloud_9]

Infra sector growth improves to 3.8% in May

In what may signal the beginning of an economic turnaround, the eight core infrastructure sectors fared better in May with a growth rate of 3.8 per cent to mark an improvement over the paltry 2.2 per cent increase in output in April.

 

[ramu]

Koi gal nahi .. Sing is King and he is back as Finance minister. chak de phatte

 

[Zeeshan360]

Koi gal nahi .. Sing is King and he is back as Finance minister. chak de phatte

Good to see a reformist as FM ..
The socialist Pranab is out

....
Btw our Indian economy section looks a hit around the world

So many non Indians are interested in this thread ..
Good to see we are so popular around the world

Atithi devo bhava (Welcome to India)

If Pakistani and Chinese are not around in this thread ...means some good news are there for India.....

True that .. Lol

 

[Abingdonboy]

And so it begins......


Rupee posts its biggest daily gain in three years; sensex jumps 439 points - The Times of India

 

[baajey]

I agree! They are better not to declare the law and now you backtrack it under manipulated currency and economic pressures by foreign dealers and hedge fund managers! This is a very bad case precedent which opens up for more foreign exploitation in future!

but the fact lies: wealth distribution is highly irregular....both in india as well as in china....i m sure things were same in china abt 20 yrs ago.....