Indian Economy-News & Updates

[IndoCarib]

US investors elevate India over other emerging markets, AsiaOne Business News

US investors, buoyed by optimism about India's economy and booming stock market, have been moving money into exchange-traded funds that focus solely on that country. US-listed India ETFs have added about $2 billion in net new assets so far this year, outshining other emerging market funds. That brings the total assets of the 10 India ETFs tracked by Morningstar to $6.3 billion, up roughly 47 per cent since January. - See more at: US investors elevate India over other emerging markets, AsiaOne Business News

 

[fsayed]

July-September GDP likely slowed to 5.1%; data due on Friday - The Economic Times

 

[fsayed]

India Today ‏@IndiaToday 52s53 seconds ago
#SAARC nations agree on energy cooperation pact. News Flash: http://goo.gl/vH4mnO

 

[luckych]

Lowe’s is building 800-people centre in Bengaluru - The Times of India

American home improvement store chain Lowe’s is setting up a global inhouse centre (GIC) in Bengaluru that will hire over 820 professionals by 2016

 

[luckych]

UK royal Prince Andrew, the Duke of York has an eye on Bangalore startups

Dell plans to expand manufacturing facility in India - The Economic Times

Essar Steel commissions Rs 6,000-cr pellet complex in Odisha - The Economic Times

 

[Nova2]

India's gross domestic product expanded 5.3 per cent in the July-September quarter from a year earlier, as a slump in manufacturing took the bounce out of Asia's third-largest economy. Growth in the June quarter had spurted to a 2-1/2 year high of 5.7 per cent.

Thanks to growth in services and stronger-than-expected farming after a bad monsoon, the reading was higher than predicted by economists polled by Reuters who on average forecast growth of 5.1 per cent

Economic growth slows to 5.3% in September quarter - TOI Mobile | The Times of India Mobile Site

 

[jarves]

Economic growth slows to 5.3% in September quarter - TOI Mobile | The Times of India Mobile Site

Good news.Any chance of India crossing 6% growth rate in financial year 15-16?

 

[Nova2]

yaar in billions batao

Around $65bill #Direct tax
& $79bill # Indirect tax.

 

[Nova2]

Good news.Any chance of India crossing 6% growth rate in financial year 15-16?

Yes,it is a good news,many economic analyst has predicted a growth rate of 5% with some even assuming it to grow at 4.8% for Q2, 5.3% was said to be an optamistic target,an i am happy that we achieved it as every other economist had predicted Q2 groth to be around 5-5.1% or below.
Q3 & Q4 are said to be better with prediction around 5.7% - 5.8% for both.
For 2015 GDP growth is said to be around 5.6% & for 2016 it's said to be 6.4%. And its pretty much possible with low inflation and other reforms that are said to be coming in march 2015,from few policy changes in Banking system,to allocation of coal blocks,rate cuts probaby by next year if not on Dec 2 and more. And drop in global crude oil prices is another positive.

 

[jarves]

For 2015 GDP growth is said to be around 5.6% & for 2016 it's said to .

When you say 2015 you mean financial year 14-15 or 15-16?

 

[farhan_9909]

Around $65bill #Direct tax
& $79bill # Indirect tax.

Not impressive,it seems like whole south asia is having problem with tax collection

 

[Nova2]

When you say 2015 you mean financial year 14-15 or 15-16?

There was typo over there. I meant for FY 2014-15(ie.,for year 2014) GDP growth is said to be around 5.6% by IMF(5.5% by RBI). And for FY 2015-16(ie.,year 2015) growth is predicted to be around 6.4% by IMF.
So yes, as per these figures we would reach 6% growth by 2015-16.
India and the IMF -- Page 1 of 23

Not impressive,it seems like whole south asia is having problem with tax collection

Those figure were for 2012 ,in 2013 it stood around 11.5lac crores (~$191bill) ,they are low,hence finance misitry has called up for different approach on revenue tax collection. For FY'14 tax collection is predicted to be around 13Lac crores ($210bill).

 

[farhan_9909]

India and the IMF -- Page 1 of 23

Those figure were for 2012 ,in 2013 it stood around 11.5lac crores (~$191bill) ,they are low,hence finance misitry has called up for different approach on revenue tax collection. For FY'14 tax collection is predicted to be around 13Lac crores ($210bill).

For India it should had been atleast 600Billion dollars while for Pakistan atleast 100Billion dollars(currrentl 39.5Billion dollars)

 

[Nova2]

For India it should had been atleast 600Billion dollars while for Pakistan atleast 100Billion dollars(currrentl 39.5Billion dollars)

Yes,tax collection has been too low in India and the govt has been missing its target every FY by say like $10bill, and tax collection have been low also because of slowing economy,we can expect it to rise by next year as things improve.
Revenues are also expected to rise after GST coes into force by 2016.

Btw, how much is Pakistan's total revenue collection?

 

[farhan_9909]

Yes,tax collection has been too low in India and the govt has been missing its target every FY by say like $10bill, and tax collection have been low also because of slowing economy,we can expect it to rise by next year as things improve.
Revenues are also expected to rise after GST coes into force by 2016.

Btw, how much is Pakistan's total revenue collection?

39.5Billion dollars last year.This year the target is set at 24% growth but so far achieved in the first 4 months is 19.5%