Icecreamcart
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Global Brain Drain
No China figures I'm afraid, but I'm sure it's comparable to India.
No China figures I'm afraid, but I'm sure it's comparable to India.
Indian Economy-News & Updates
- Thread starter Flintlock
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IndoCarib
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You talking about quality !!! ???? Man, its like Taliban talking about peace !!!
You get caught in your own web of deceit every time. You shamelessly admitted that a war torn country grows faster than your's and stable democratic country grows faster than mine.
Abingdonboy
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shuttler
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India will defer spending to rein in fiscal deficit
reuters
(Reuters) - India is reviewing budgeted expenditure at each ministry and plans to defer some spending to the next financial year beginning in April to keep the fiscal deficit at 5.3 percent of GDP, a top finance ministry official told Reuters on Monday.
India's economic growth is expected to slow to about 5.5 percent this fiscal year, the slowest pace in a decade, while rating agencies S&P and Fitch say higher spending and rising subsidies could push the fiscal deficit to 6 percent of GDP.
"Those expenditure that can be moved to the next year would be moved, instead of being done this year," Arvind Mayaram, economic affairs secretary at the ministry of finance said in an interview.
He said the government was determined to keep the deficit to 5.3 percent of GDP this fiscal year, and would take all necessary steps for this purpose. However, he ruled out drastic, across-the-board spending cuts.
Analysts have expressed doubt about whether the government would be able to keep the deficit even to that level.
"Prospects for a material improvement in the fiscal position in the near term are remote, leaving intact the risk of a sovereign downgrade," Anjalika Bardalai, an analyst with political risk consultants Eurasia Group, said in a recent research note.
In March, the government budgeted 14.9 trillion rupees spending in 2012/13 fiscal year. It estimated revenue of 9.4 trillion rupees and targeted a fiscal deficit of 5.1 percent of GDP.
But delays to planned economic policies and the global slowdown have impacted growth and tax collection, forcing the finance ministry to revise the deficit target upwards and look at ways to save money and increase revenues.
"We are reviewing expenditure at this point of time. By early December we will be able to get a picture of what type of savings we will get from that," Mayaram said.
He said finance ministry expected a moderation in the burden of oil subsidies because of a recent hike in diesel prices and the appreciation of the Indian currency.
"We believe the rupee might strengthen a little further and go down to 52, 52.5, in which case there would be a substantial shaving off of the subsidy bill on that account," Mayaram said.
The rupee was trading at around 54.6 to the U.S. dollar on Tuesday.
The finance ministry official said the government was working on a number of new economic reforms. He mentioned overseas borrowings and the corporate bond market as areas being looked at.
"Please expect announcements every 15 days," he said.
(Reporting by Gabriel Stargardter; Writing by Manoj Kumar; Editing by Frank Jack Daniel & Kim Coghill)
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that applies exclusively to you!
reuters
(Reuters) - India is reviewing budgeted expenditure at each ministry and plans to defer some spending to the next financial year beginning in April to keep the fiscal deficit at 5.3 percent of GDP, a top finance ministry official told Reuters on Monday.
India's economic growth is expected to slow to about 5.5 percent this fiscal year, the slowest pace in a decade, while rating agencies S&P and Fitch say higher spending and rising subsidies could push the fiscal deficit to 6 percent of GDP.
"Those expenditure that can be moved to the next year would be moved, instead of being done this year," Arvind Mayaram, economic affairs secretary at the ministry of finance said in an interview.
He said the government was determined to keep the deficit to 5.3 percent of GDP this fiscal year, and would take all necessary steps for this purpose. However, he ruled out drastic, across-the-board spending cuts.
Analysts have expressed doubt about whether the government would be able to keep the deficit even to that level.
"Prospects for a material improvement in the fiscal position in the near term are remote, leaving intact the risk of a sovereign downgrade," Anjalika Bardalai, an analyst with political risk consultants Eurasia Group, said in a recent research note.
In March, the government budgeted 14.9 trillion rupees spending in 2012/13 fiscal year. It estimated revenue of 9.4 trillion rupees and targeted a fiscal deficit of 5.1 percent of GDP.
But delays to planned economic policies and the global slowdown have impacted growth and tax collection, forcing the finance ministry to revise the deficit target upwards and look at ways to save money and increase revenues.
"We are reviewing expenditure at this point of time. By early December we will be able to get a picture of what type of savings we will get from that," Mayaram said.
He said finance ministry expected a moderation in the burden of oil subsidies because of a recent hike in diesel prices and the appreciation of the Indian currency.
"We believe the rupee might strengthen a little further and go down to 52, 52.5, in which case there would be a substantial shaving off of the subsidy bill on that account," Mayaram said.
The rupee was trading at around 54.6 to the U.S. dollar on Tuesday.
The finance ministry official said the government was working on a number of new economic reforms. He mentioned overseas borrowings and the corporate bond market as areas being looked at.
"Please expect announcements every 15 days," he said.
(Reporting by Gabriel Stargardter; Writing by Manoj Kumar; Editing by Frank Jack Daniel & Kim Coghill)
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We know when a chinese loses an argument. I know it can be frustrating to get cornered like a rat. Hope the mods can teach you some civility.
that applies exclusively to you!
IndoCarib
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India stands upgraded
As policy makers pin their hopes on a gradual recovery of the Indian economy in the second half of the current fiscal and the private sector feels enthused over a spate of FDI reforms and fiscal consolidation measures, the World Economic Forum (WEF) will bring both together for the three-day event whose public sessions begin on Wednesday in Gurgaon, Haryana. Also on hand will be members of civil society, to deliberate on governance issues.
This is the first time that WEF will organise its India event on its own. For more than 25 years, the Forum had organised the India Economic Summit in partnership with the Confederation of Indian Industry. WEF calls this change a natural evolution. It has already committed itself to opening an office in India next year. This will be the fourth such office of WEF outside its headquarters in Geneva. It already has offices in New York, Beijing and Tokyo.
India stands upgraded
As policy makers pin their hopes on a gradual recovery of the Indian economy in the second half of the current fiscal and the private sector feels enthused over a spate of FDI reforms and fiscal consolidation measures, the World Economic Forum (WEF) will bring both together for the three-day event whose public sessions begin on Wednesday in Gurgaon, Haryana. Also on hand will be members of civil society, to deliberate on governance issues.
This is the first time that WEF will organise its India event on its own. For more than 25 years, the Forum had organised the India Economic Summit in partnership with the Confederation of Indian Industry. WEF calls this change a natural evolution. It has already committed itself to opening an office in India next year. This will be the fourth such office of WEF outside its headquarters in Geneva. It already has offices in New York, Beijing and Tokyo.
India stands upgraded
IndoCarib
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India could revert to 8.5-9 per cent growth in two years: Kaushik Basu
NEW DELHI: India's growth rate is likely to revert to the pre-global crisis level of 8.5-9 per cent after two years, World Bank Chief Economist Kaushik Basu said today.
"...yes its a difficult period, but two years later India should be back again what it was attempting to be, which is 8.5-9.0 per cent growth. I really feel that this is possible," he told PTI here.
Basu, former Chief Economic Advisor in the Finance Ministry, is here in connection with a conference on youth employment being organised by the World Bank
India could revert to 8.5-9 per cent growth in two years: Kaushik Basu - The Economic Times
India could revert to 8.5-9 per cent growth in two years: Kaushik Basu
NEW DELHI: India's growth rate is likely to revert to the pre-global crisis level of 8.5-9 per cent after two years, World Bank Chief Economist Kaushik Basu said today.
"...yes its a difficult period, but two years later India should be back again what it was attempting to be, which is 8.5-9.0 per cent growth. I really feel that this is possible," he told PTI here.
Basu, former Chief Economic Advisor in the Finance Ministry, is here in connection with a conference on youth employment being organised by the World Bank
India could revert to 8.5-9 per cent growth in two years: Kaushik Basu - The Economic Times
IndoCarib
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Merck plans to make India unit its 8th global competence centre
German drugs and chemicals group Merck KGaA plans to make its Indian chemicals units in Navi Mumbai a global competence centre to cater to markets in select product segments, apart from being a customer training and application development location. Merck has currently seven such competence centres located in Germany, Japan, Taiwan, Korea, Brazil, China and the US. The Indian unit will be its eighth and will be part of the global network of Merck’s production and application training centres.
Merck plans to make India unit its 8th global competence centre - Livemint
German drugs and chemicals group Merck KGaA plans to make its Indian chemicals units in Navi Mumbai a global competence centre to cater to markets in select product segments, apart from being a customer training and application development location. Merck has currently seven such competence centres located in Germany, Japan, Taiwan, Korea, Brazil, China and the US. The Indian unit will be its eighth and will be part of the global network of Merck’s production and application training centres.
Merck plans to make India unit its 8th global competence centre - Livemint
Chinese-Dragon
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Kaushik Basu?
Where have I heard that name before?
Oh yes:
India to overtake China as fastest growing economy - YouTube
IndoCarib
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He said "India’s growth rate is poised to overtake China’s within two to three years, despite a near-term slowdown"
So wait till 2015 to beat your drums. Your sarcasm is premature
Chinese-Dragon
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IndoCarib
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You mean he said in 2010 that India's growth rate will overtake china's in 5 years ? So again wait until 2015 ! Have patience please. I didn't know you guys are NDTV fans.
Chinese-Dragon
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LOL, anything could happen in 5 years.
Don't you think it's a bit stupid to boast about it before it even happened? Look at what is actually happening now instead of trying to predict the future in your own benefit, without rhyme or reason.
IndoCarib
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It is the job of those at the helm of economic affairs to predict economy. Some of them fall flat . Lot of predictions are being made about China overtaking US economy by 2016. All we lesser mortals can do is wait and watch
Chinese-Dragon
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That was NEVER predicted by any Chinese.
Those 2016 predictions you are talking about came from the IMF.
And like all other predictions of the future, they are worthless until they actually happen.
