Browsing articles in "Indian Economy"
Mar
4
2013

Chidambaram’s Hangout:

Budget FY14

Indian finance minister P Chidambaram is going to have a Google Hangout today to take queries over the much awaited but a non-event budget for FY14 presented on February 28. For the first time an online platform would be used by the Indian finance minister to respond over public queries or netizens’ queries. He will join the hangout which is a video chat today at 8:00 PM. Previously such a powerful and effective online interactive […]

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Aug
17
2012

Indian economy to grow at around 7% in FY13 – Economic Outlook FY13:

PMEAC growth outlook

C Rangaran, the chairman of PMEAC (Prime Minister’s Economic Advisory Council) expects the Indian economic growth to stand at 6.5% – 7% in FY13. The presented number is in accordance with the RBI estimate of 7%. He has presented the mid-year economic outlook for FY13 and proposed the expected growth rate for various sectors for the coming fiscal. The committee compared the previous years’ growth numbers and forecasted the expected numbers for FY13. The figures […]

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Aug
9
2012

June IIP disappointing data depicting contraction:

IIP data

The IIP (Index of Industrial Production) numbers as released for the month of June are very disappointing. Instead of exhibiting a growth of the Indian economy, the numbers posted contraction to 1.8%. The figures for the month of May were 2.5% but the economy contracted to 1.8% m-o-m (month-on-month). The individual sectors’ growth numbers were also alarming including the capital goods, manufacturing sector and consumer non-durables sector. The IIP figure for mining sector grew at 0.6% […]

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Aug
8
2012

Coal India finalizes FSA:

Coal India - FSA

The world’s largest coal miner Coal India Ltd. has finally decided the most discussed penalty clause included in the FSA (Fuel Supply Agreement). In the meeting held on Aug 7, 2012 the CIL board approved the penalty clause associated with the agreement. According to the newly decided clause, now the CIL is bound to supply 80% of the coal needs for the new power projects. For fulfilling 80% of the coal needs the CIL stipulated […]

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Jun
12
2012

Markets surged despite disappointing IIP data:

IIP data

The IIP (Index of Industrial production) data for the month of April was released today. The official data released was quite disappointing against the market expectations. The IIP for April is at 0.1% against 5.3% in April last year. The previous month’s IIP data was at -3.2%. IIP is an index which indicates the growth of different sectors of an economy but excludes all kinds of services. Even though the IIP data came back to […]

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Jun
11
2012

Terror of “The First BRIC Fallen Angel”:

S&P India downgrade

The S&P (Standard & Poor’s) has presented a recent report and warned the probability of downgrading India’s investment grade owing to slow growth and high vulnerability to economic shocks. The global rating agency gives credit rating to various economies based on the future growth prospects and risk management of the host country. It rates the economies primarily on the following parameters: Macro-economic fundamentals Budget management, and Ability of the Government to take quick actions in times […]

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Jun
9
2012

Fate of Indian markets to be decided in next 10 days:

Indian economy

Since last few weeks the Indian markets are trading with much of a range bound rally, with an over-mounting downward fear. Still the markets have not received a clear trend and the reasons being very diverse. Now the coming 10 days would decide the fate and give a direction to them. Investors are sitting on a pile of cash waiting just for the right time to pitch the best investments. Some of the reasons responsible for […]

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May
31
2012

Q4 GDP data way below expectations:

sensex trading down

Indian Q4 GDP data was released today (May 31, 2012) with the figure much below what expected by analysts. The quarter-on-quarter (q-o-q) growth numbers were reported at 5.3% below from 6.1% last quarter. The analysts were expecting this figure to be between 5.8% – 6%. The Indian markets reacted sharply to the news and tanked more than 1.5%. Apart from weak GDP figures the rupee touched an all time low of Rs. 56.50 per dollar. […]

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May
7
2012

GAAR to be applicable from FY14:

General Anti-Avoidance Rules (GAAR)

Today while moving the Finance Bill 2012 in the Lok Sabha, Finance Minister Mr. Pranab Mukherjee extended the dead-line for GAAR (General Anti-Avoidance Rules) applicability. Now the GAAR provisions would be applicable on various transactions from April 2013. Due to severe opposition over prescribed GAAR provisions from the FIIs (Foreign Institutional Investors) and huge outflows of foreign investments from Indian markets, the step has been taken. Due to the GAAR provisions as prescribed in the […]

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Apr
25
2012

S&P downgrades rating for India – effects on Indian economy:

S&P India Downgrade

S&P (Standard and Poor’s) reviewed it’s rating on Indian economy and downgraded it from “stable” to “negative” with investment grade of BBB- on Wednusday (25th April 2012). Standard and Poor’s is a global credit rating agency which rates a country primarily on the basis of three factors: Macro-economic fundamentals Budget management, and Ability of the Government to take quick actions in times of crisis The rating downgrade for our economy saw immediate adverse effects on […]

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