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India is proud of being a nation that saves over 35% of its earnings。

Lowering interest rates in the face of rising inflation must be a policy welcomed by the hundreds of millions o savers。

Seeing their hard-earned savings being eroded by negative real interests must be the best thing that has ever happened to the poor and the elderly,especially those old-aged pensioners(if there are any) since sliced-bread。:azn:
 
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Bro why do you think the Indians still haven't finalized their MMRCA deal? They are out of money.

Hyperflation in a stagnant economy. Enjoy.

India's consumer price inflation rises to 9.75 percent - NY Daily News | NewsCred SmartWire

Needless trolling.

For starters, some members here need to appreciate the difference between CPI and WPI. And FYI, India's WPI for October, in fact, fell to 7.45% vs 7.81% (MoM).

India Inflation Slows to 7.45% in October - WSJ.com
 
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What about Chinese economy, from 14.2% GDP growth to all time low of 7.4%. :cheesy:

He won't understand those down arrows. :laugh:

Neither how their lousy stock index is the worst performing of all countries in the world.

Coming to the reason why they are here -- simple -> $hit scared of when the "7.4%" falls below ours. After all that building up ghost cities, piling up coal which no one wants becomes awkward for themselves.
 
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By Matthias Williams
NEW DELHI | Wed Nov 14, 2012
3:17pm IST
(Reuters) - India's headline
inflation unexpectedly eased to
its slowest pace in eight
months in October, a welcome
relief from a string of bad data
but still high enough to be a
headache for policymakers
struggling to balance the need
for growth with taming prices.
Wholesale prices - India's main
inflation gauge - rose an annual
7.45 percent, the slowest pace
since February, government data
released on Wednesday showed.
The figure was slower than the
7.81 percent recorded in
September, as food and fuel prices
rose less quickly, and less than the
7.96 percent predicted in a Reuters
poll of analysts.
With India's economy on track to
grow at its worst pace in a decade,
and a general election due in just
over a year, the government has
been pressing the Reserve Bank of
India (RBI) to cut interest rates to
revive growth. But the central bank
has rebuffed those calls, saying
prices are still rising too fast to
risk loosening policy.
The latest inflation reading is still
seen as too high for the RBI to bow
to pressure from the government
and businesses by cutting rates at
its next policy review in December.
However, it could do so early next
year.
"Despite the downtick, elevated
inflation will prevent the RBI from
easing aggressively," said Jyoti
Narasimhan, senior principal
economist, IHS Global Insight.
"With inflation unlikely to recede
substantially, we no longer expect
the RBI to soften its stance and cut
policy rates on 18 December to
support flagging economic growth."
India's financial markets were
closed on Wednesday for a festival.
India rates, WPI graphic
link.reuters.com/saq26s
DISMAL DATA
Data on Monday showed the
monthly trade deficit climbed to its
highest-ever level, while industrial
production surprisingly contracted,
dashing hopes that the economy
was regaining traction.
Prime Minister Manmohan Singh's
government is trying hard to get
the economy back to the near
double-digit growth that helped
project India as a rising global
power and helped Singh's Congress
party win two back-to-back
elections since 2004.
But with state polls looming and a
general election due in 2014, an
economic revival would help Singh
generate resources to fund big-
ticket welfare programmes meant
for his party's core constituency
comprising poor and rural voters.
It would also help mitigate anger at
rising prices.
Singh said in a speech over the
weekend that his government had
"dispelled doom and gloom" about
the economy with a series of policy
steps, including curbing fuel
subsidies and liberalising foreign
investment rules.
But investors are clamouring for
the government to do more. They
want Singh to push ahead with a
reform agenda that has progressed
fitfully, calling for a more
business-friendly tax regime and
speedier clearances for
infrastructure projects.
Singh has faced opposition to
flagship policies from powerful
regional allies as well as opposition
parties, setting the stage for
another stormy parliament session
when it reconvenes on Nov 22.
"The (inflation) number is better
than what most people had
expected, but based on the past
experiences there is a likelihood of
the numbers getting revised," said
Rupa Rege Nitsure, chief economist
at Bank of Baroda in Mumbai.
The government revised up August
inflation to 8.01 percent from the
7.55 percent initially reported.
"The Reserve Bank will wait till the
headline inflation falls by 100 basis
points more. The government is
putting on pressure, but the
Reserve Bank will not succumb to
that pressure until the inflation
comes down to the comfort zone,"
Rupa Rege Nitsure said. (Additional
reporting by the Mumbai bureau
and Arup Roychoudhury in New
Delhi; Editing by Simon Cameron-
Moore & Kim Coghill)

October inflation surprises; slowest in 8 months | Reuters


A much awaited news :tup:
 
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India PM to get $15 bn investment on Japan visit

TOKYO: India’s Prime Minister Manmohan Singh is set to sign deals for infrastructure projects worth $15 billion on a visit to Japan this week, a report said Wednesday.

The trip, which starts Thursday, will see the Indian premier hold talks with his Japanese counterpart Yoshihiko Noda and lunch with Japanese business leaders, said officials at the foreign ministry and industry lobby Keidanren (Japan Business Federation).

A total of 19 infrastructure projects worth 1.2 trillion yen will benefit from the deals, which will involve Japanese manufacturers and trading houses, the Nikkei business daily reported.

India PM to get $15 bn investment on Japan visit | DAWN.COM
 
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552376_10151296535770808_2029928066_n.jpg


559548_10151278972610808_1536952525_n.jpg


247740_10151267819090808_1752449573_n.jpg
 
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Renault to export India-made Duster to UK market

French auto major Renault today said that the company will soon start exporting its utility vehicle 'Duster' from India to UK and to countries in Africa and Asian countries. The company also said that besides launching new products, major thrust for India will be the after market, a senior representative from Renault India said.

Renault to export India-made Duster to UK market

------------------------------------------------------------------------------------------------
India: Volvo to invest $700m to expand lorry manufacturing

Volvo plans to invest nearly $700m in its Indian operations, in a sign the Swedish company plans to compete in the country’s growing commercial vehicle market.

http://blogs.ft.com/beyond-brics/2012/11/16/india-volvo-to-invest-700m-to-expand-lorry-manufacturing/#axzz2COed2in1
 
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Exclusive: India concedes deficit target looks doubtful

reuters

NEW DELHI | Fri Nov 16, 2012 4:39pm IST

(Reuters) - India will struggle to meet its already swollen deficit target this year after a dismal response to this week's auction of mobile phone licences and a battle to sell stakes in state companies, finance ministry officials privately concede.

Global rating agencies have threatened to downgrade India's sovereign credit rating to junk if it fails to put its fiscal house in order.

Analysts said while the disappointing auction would likely not be a deciding factor, it underscored the challenges facing the government in trying to slash the deficit.

Just last month, subdued tax revenue and higher spending on subsidies forced the government to revise its fiscal deficit target to 5.3 percent of gross domestic product (GDP) for the current financial year from a previous target of 5.1 percent.

In setting the new target, the government was banking heavily on generating billions of dollars from the auction of second-generation (2G) mobile phone licences. But the auction this week yielded just under 25 percent of the targeted 400 billion rupees, catching officials off-guard.

Finance Minister P. Chidambaram said on Friday he was still confident of meeting the 5.3 percent target, although his officials expressed scepticism, saying the poor auction result may have pushed the government's already tough deficit target even further out of reach.

"The task has become more difficult. Some out-of-the-box measures are needed to save the situation," a senior finance ministry official with direct knowledge of the matter told Reuters.

Other finance ministry officials interviewed by Reuters this week gave similar assessments. The officials declined to be identified as they are not authorised to speak to the media.

Seven private economists polled by Reuters said they now expected the fiscal deficit for the year to end-March 2013 to grow to 5.5-6 percent of GDP.

"Slippage is now inevitable. How much slippage happens depends on whether they can actually cut down on any spending area," said Sonal Verma, an economist at Nomura.

FISCAL CREDIBILITY AT STAKE

The government still has some options to get it closer to its fiscal goal.

It could sell its stakes in private firms such as Axis Bank (AXBK.NS), infrastructure company Larsen and Toubro (LART.NS) and hotel and tobacco conglomerate ITC (ITC.NS). It can also ask for special dividends from cash-rich, state-run companies.

Besides selling still-unsold telecom spectrum - another auction is possible before March - it could even consider liquidating its land holdings, finance ministry officials said.

But the officials said it was unclear just how much revenue that would generate and whether it would be enough to meet the 5.3 percent fiscal target.

Last year, the fiscal deficit overshot the target of 4.6 percent by 1.2 percentage points. Another big slippage this year could further erode the nation's fiscal credibility.

"It is not business as usual. Everybody is under pressure to meet the (deficit) target," said a finance ministry official. "Time is running out."

The government's battle to mend its finances not only undermines the campaign against persistenly high inflation, but also lowers growth prospects as funding the deficit from domestic savings crowds out private investment.

The government is on track to borrow 5.7 trillion rupees, or 5.6 percent of GDP, by February. Every 0.1 percentage point increase in the deficit is estimated to result in an additional market borrowing of at least 100 billion rupees.

The response to the 2G auction was in sharp contrast with the 2010 sale of faster, third-generation licences, which fetched the government more than $12 billion and helped contain the deficit that year at 4.7 percent.

"We were over-optimistic," a senior economic adviser at the ministry conceded.

Chidambaram pledged last month to nearly halve the fiscal deficit by March 2017. But the plan he presented was short on specifics and was panned by economists. (Additional reporting by Annie Banerji; Editing by Ross Colvin and Jacqueline Wong)
 
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Rupee falls to over two-month low

reuters

MUMBAI | Fri Nov 16, 2012 5:30pm IST

(Reuters) - The rupee fell to an over-two-month low on Friday, extending its losing streak to a third week, as investors remained cautious on risk assets ahead of a key eurogroup meeting and worries over the U.S. 'fiscal cliff'.

The unit fell 0.75 percent for the week, in which the country's twin deficits again came to the fore with a string of disappointing macroeconomic data.

Investors expect the rupee to closely track global developments next week with eurogroup ministers slated to meet on Tuesday to forge a deal on Greece.

Worries over the U.S. fiscal situation also continue to add to global growth worries.

Dealers said talk of intervention by the Reserve Bank of India kept a lid on the rupee's losses, though there was no unanimity over whether the central bank actually sold dollars.

"I do not think that rupee will weaken beyond 55.50 to the dollar this year. Otherwise the RBI will use its firepower," said Satyajit Kanjilal, chief executive at Forexserve.

Still, the rupee fell to 55.2050 to the dollar in the session, a level last seen on September 13, a day before the government announced key reforms in aviation and multi-brand retail.

The partially convertible rupee ended weaker at 55.1650/1750 to a dollar as against its previous close of 54.70/71.

Investors will now closely watch the parliament session beginning Thursday to see whether the government can push through its key reform proposals like foreign direct investment in pension and hiking the limit for insurance.

The tepid response to the telecom spectrum auction, which garnered about one-fourth of the 400 billion rupees budgeted, will make it difficult to keep the fiscal deficit in check.

The trade deficit for October widened to its worst at $21 billion, fueling concerns about the current account deficit.

"We expect India's growth recovery to remain shallow, as the worsening of the twin deficit suggests that the macro-economic imbalances have yet to correct," Nomura said in a note.

In the offshore non-deliverable forwards segment, the one-month contract was at 55.50 while the three-month was at 56.07.

In the currency futures market, the most traded near-month dollar/rupee on the National Stock Exchange and the MCX-SX closed around 55.3275 with total traded volume of $4.5 billion.
 
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Investor fears over India strike (1:55)

http://in.reuters.com/video/2012/09/20/investor-fears-over-india-strike?videoChannel=13423&videoId=237887601


European investors watch with concern as shops, businesses and transport grinds to a halt across India as part of a one-day nationwide strike against sweeping economic reforms announced by the government last week. Matt Cowan reports

The stike is costing india to lose $2.3 billion in lost production and trade!

 
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^^^^^ lol @ chinese members here.....:rofl::rofl::rofl: Internet RED font warriors.....

don't worry it will gain again...
 
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Investor fears over India strike (1:55)

http://in.reuters.com/video/2012/09/20/investor-fears-over-india-strike?videoChannel=13423&videoId=237887601


European investors watch with concern as shops, businesses and transport grinds to a halt across India as part of a one-day nationwide strike against sweeping economic reforms announced by the government last week. Matt Cowan reports

The stike is costing india to lose $2.3 billion in lost production and trade!


This is old news. The strike was held on September 20, 2012. In case you are still in your cave, this is November 2012 :rofl:
 
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This is old news. The strike was held on September 20, 2012. In case you are still in your cave, this is November 2012 :rofl:

I am calling upon you guys about how much damage is that kind of strike costing to your economy!

Your failing and aging eye-sight cant read my highlight!

Hahaha!
 
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I am calling upon you guys about how much damage is that kind of strike costing to your economy!

Your failing and aging eye-sight cant read my highlight!

Hahaha!

People have the right to protest in a democratic country. India has the depth to absorb such losses incurred by strikes. If you knew the strike is long over why did you post it again ? You couldn't find anything new ?
 
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