Indian Economy: News and Discussion

Mad Indian

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RBI's forecast per Indian growth is worth no more than the piece of paper with which one wipes one's ass。

Early last year RBI was predicting 9% growth for FY 2011-2012. The result(soon to be released) will be a dismal 6。5%, and that's if India gets lucky。

My prediction for the Indian economy is 6.5% growth this FY at best。 It is not impossible that the growth falls below 6% 2012-2013.
What are you on? The economic growth for 2011-12 was about 7%(approx.).

And with the world economy to pick up next year why will Indian economy alone will dip? Because your Chicom govt wants so?

India will grow at 7.2% in 12-13. Professional forecasters put GDP growth at 7.2% for current fiscal: RBI - Economic Times
 

trackwhack

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RBI's forecast per Indian growth is worth no more than the piece of paper with which one wipes one's ass。

Early last year RBI was predicting 9% growth for FY 2011-2012. The result(soon to be released) will be a dismal 6。5%, and that's if India gets lucky。

My prediction for the Indian economy is 6.5% growth this FY at best。 It is not impossible that the growth falls below 6% 2012-2013.

If RBI numbers are only worth wiping ones arse, what are CCP numbers worth? Diaper shit?
 

cir

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I repeat:India's GDP growth for FY 2011-2012 will be a lot closer to 6.5% than the 7% wished or dreamt about by some of the high spirits here。

Let's wait for the official release(due in May?):rofl:
 

cir

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India will be very lucky to achieve 6。5% GDP growth for FY 2012-2013.

6% is far more realistic。
 

tony4562

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Only 1.676 trillion dollars?That's less than a quarter of China's GDP for 2011,which stood at 7.5 trillion dollars using year-end exchange rates。

India's rupee crashed, that's why. But it was severely overvalued, i think it wil slip further albeit at a slower rate. In contrast Yuan, after much appreciation against the dollar, is still considered to be undervalued.
 

Apollyon

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India's rupee crashed, that's why. But it was severely overvalued, i think it wil slip further albeit at a slower rate. In contrast Yuan, after much appreciation against the dollar, is still considered to be undervalued.
:hmm:
ANY SOURCE TO PROVE YOUR CLAIM .... :rofl:
Ohh ... i forgot i am talking to a SLAVE ... who's Country's Leadership (CCP) thinks they are not worthy capable of handling free flow of information ... :rofl:
and you people dont even have basic RIGHT of FREE SPEECH .... :rofl:
every thing is censored ... you hear, see and think what CCP wants .... SLAVE's .... :rofl:
:lol:

Also .... over half of Chinese Exports are by American MNC's .... they are exploiting your Human Resource .... :rofl:


]India second most economically confident country: Report


New Delhi: Indians continue to be among the world's most confident people about their economy on account of moderating inflationary pressure and the easing of tight money policy stance of the Reserve Bank, says a report.

According to global research firm Ipsos, India has emerged as the second most economically confident nation for the second consecutive time.

India's economic confidence jumped by five points to 75 percent in March compared to the previous month, to retain the second most economically confident nation title after Saudi Arabia which tops the table with 89 percent.

China is the third most economically confident country, where 71 percent are optimistic about their economy, followed by Sweden (70 percent), Germany (68 percent), Canada (64 percent) and Australia (62 percent).

"India has overtaken Japan to become the third-largest economy in terms of purchasing power parity (as per IMF report) and is heading for accelerated growth, following RBI cutting repo rate by 50 bps and inflation moderating to acceptable level," Ipsos India CEO Mick Gordon said.

"This should provide some confidence to the overall sentiments and help in stimulating investment. If the inflation momentum eases in near future, it will give RBI more room to cut rates further to boost investments and growth," he added.




The survey was conducted in March this year among nearly 19, 000 people in 24 countries.

PTI
:rofl:
 
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NSG_Blackcats

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Revenues cross $10 billion mark in 2011-12

Tata Consultancy Services (TCS) reported a net profit of Rs.2,932 crore for the fourth quarter ended March 31, 2012, a growth of 22.6 per cent over the same quarter of the previous year.

Revenues were up 30.5 per cent at Rs.13,259 crore.

"We have grown 31 per cent for the full year (2011-12) and our profits crossed the Rs.10,000-crore-mark," said N. Chandrasekaran, CEO and MD, while addressing a press conference here on Monday.

TCS became the first Indian IT company to cross the $10 billion milestone posting annual revenues of $10.17 billion. The revenues of the company were up 31 per cent at Rs.48,894 crore for the year and profits 22 per cent at Rs.10,638 crore. The volume of business also increased 23.05 per cent during the year. Mr. Chandrasekaran said that infrastructure, enterprise solutions and BPO businesses crossed $1 billion each in annual revenues.

S. Mahalingam, CFO and Executive Director, said, "We have grown well during 2011-12 and also been able to exit the year at the right margin levels, despite the marked increase in volatility during the past 12 months." There was secular growth across markets and industries during the last financial year.

North America grew by 29.6 per cent to cross $5 billion while Europe, including the U.K. grew 33.8 per cent. All industry verticals grew in double digits during 2011-12.

Ajoy Mukherjee, Executive Vice-President, Head, Global Human Resources, said "The company's efforts to increase retention by engaging with our employees and offering them a progressive career path are paying dividends with attrition rates falling further to 12.2 per cent. We have successfully undertaken the largest ever hiring efforts in our history by adding and integrating 70,400 professionals in 2011-12. With business demand continuing to be robust, we have made 43,600 offers on campuses for trainees to join us from the second quarter of this fiscal."

During the January-March quarter, the company added 11,832 employees (net), taking its total headcount to over 2.38 lakh, the company said in a statement.
 

cir

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India's rupee crashed, that's why. But it was severely overvalued, i think it wil slip further albeit at a slower rate. In contrast Yuan, after much appreciation against the dollar, is still considered to be undervalued.
No worries。Our Indian friends are able to take things in their stride no matter what:rofl::

April 23, 2012, 8:45 a.m. ET

Rupee Falls to 15-Week Low

By SOURAV MISHRA

MUMBAI – The Indian rupee fell to a 15-week low against the U.S. dollar Monday as importers bought the greenback for month-end settlements.

A weak euro and a decline in local stocks also weighed on the rupee.

The U.S. dollar was at 52.50 rupees late Monday, against 52.07 rupees late Friday. The dollar gained to 52.57 rupees earlier in the session, a level last seen on Jan. 9.

Rupee Falls to 15-Week Low - WSJ.com
 

Oracle

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/\/\/\ Depreciation of value and a currency crashing are different topics. Without even understanding the basics, you and your 50 cent army continously troll. Stop it, you don't get paid for posting on foreign boards.
 

sehwag1830

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INR is depreciating due to importing gold worth 50 bln $ annually. Now Indian households have close to 900-950 bln $ of gold . This will be useful at the time of emergency

gold >> paper currency any day.

But our Chinese friend don't understand this.
 

sob

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sehwag1830,, import of Gold is not the sole reason for the Indian Rupee depreciating. There are a host of reasons for this including inflation. If you look at inflation alone INR is loosing 10% value every year, other factors like the fiscal deficit, the Current Account Deficit, the slump in exports, etc also come into play.
 

sehwag1830

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^^^^

However gold is the most important reason. No country imports gold even 25% of gold as much as India
 

Mad Indian

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^^^^

However gold is the most important reason. No country imports gold even 25% of gold as much as India
:facepalm: So what dude? Gold is a very good investment. It "cant" be counted as a wasted import.Th most important culprit here is again the inflation and others explained by SOB:nod:
 

sob

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Have you ever analysed why we Indians import so much Gold. GOI does not offer any social security net to it's citizens. INR is not worth the paper it is printed on. Every year smaller denomination notes and coins are being phased out because INR is losing it's value year on year. the only security the world knows is gold and land. For most people land is out of reach due to cost reasons, so gold is the only viable investment alternative.

If you look at figures even China has been steadliy increasing it;s imports of Gold every year.

Most important, not all of the Gold being imported is for hoarding. A very large section of gold import is used in the exports of finished jewelry for which India is very famous.

Last year Gem and Jewelry exports from India was around US $ 42.8 Billion, out of which Gold Jewelry alone was US $ 16.5 Billion. To this we will also have to add the gold used in settings of Diamond jewelry.
Source :Gem And Jewellery Exports Marginally Dip In FY 2011-12 | Gems and Jewellery Export Promotion Council (GJEPC)

Please do not go with our learned FM has been spouting since the budget.
 

Son of Govinda

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India reforms under threat from powerful regions

BBC News - India reforms under threat from powerful regions

A number of key economic and social reforms are being opposed by powerful regional politicians who are growing in stature and influence.

Their stand often comes at the cost of the Congress-led federal government, which lacks a majority in parliament and depends on local heavyweights for support.

Mamata Banerjee - one of Time magazine's 100 most influential people this year - is one such regional player.

It has been almost a year since she won West Bengal's landmark elections, defeating the incumbent communists after 30 years.

But here in Basirhat, a rural district close to the Bangladesh border, you would be forgiven for thinking the next polls are around the corner.

Common touch
Loudspeakers play folk music and large posters of Ms Banerjee are everywhere, as a large expectant crowd cheers the state's chief minister.

Dressed in her trademark white cotton sari, and sporting flip-flops on her feet, the diminutive leader doles out loans and credit cards to poor farmers to fulfil a long-standing campaign promise.

After the rally, I join Ms Banerjee in her car as we drive to her next engagement.

Along the way we are constantly stopped by villagers who want to speak to her - she asks them about their problems.

"Has the road been fixed? What about the school? Has it got funds?" she asks rhetorically at each pit stop, as the car is surrounded.

"Yes didi (older sister), yes didi," is the constant refrain.

It's this ability to connect that is at the root of her appeal - it's also what shapes her politics.

"I feel whatever I am doing I am duty bound to the people. We have to work for the people," she tells me.

"Some politicians, they don't fulfil their commitments. But I am 100% committed."

'Hurting the poor'
You just need to step out of the car and into the surrounding countryside to understand her motive.

Bengal's villagers are among India's poorest. Years of communist rule has meant that the average farm size is small, sometimes too small.

"I have a few acres of land. My total income every year is 6,000 rupees ($114). So tell me, how do you expect me to make ends meet," says Ashraf Ali, a local farmer.

In her speeches, Ms Banerjee blames the communists and, increasingly, the federal government for policies which she says is driving up prices and hurting the poor.

It's a message that hits home.

"She means well but Delhi simply won't part with money," says Mr Ali. "They take from Bengal but they don't give back."

Mamata Banerjee's party, the Trinamool Congress, is the largest supporter of the Congress Party-led federal coalition.

But her politics is also driving her to oppose Congress's reform plans.

That opposition is now beginning to make an impact on key areas such as India's state-run railway system, which carries 30 million passengers each year.

Ambitions thwarted
It's a vital service but it also desperately needs funds to modernise, especially to improve safety standards.

"You're talking about close to $200bn. That's what we need. The question is, where are we going to get this kind of resource?" says Sam Pitroda, a government adviser who has just authored a report on improving India's Railways.

But last month Mamata Banerjee blocked a move to raise passenger fares, as recommended by Mr Pitroda's report, and even forced the government to replace the country's rail minister.

Increasingly, a number of the federal government's key economic reforms are being scuttled by regional politicians such as Ms Banerjee, without whose support it cannot survive.

Political analyst Paranjoy Guha Thakurta says it's a worrying sign.

"It is because the government at the centre is perceived to be weak, to be indecisive," he says.

"The prime minister himself is being seen as a person who is not able to assert himself."

The growing influence of grassroots regional politicians is certainly good news for Indian democracy and a boost for the country's federal structure.

But good politics can sometimes lead to bad economics. It could well hold India back from its ambition of becoming a major global power.
 

cir

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GDP figure out tomorrow。

Still sticking to 6.9% growth for FY2011-2012?

How about 6.5%??:rofl: Q4 is gonna be looking very ugly。

Q1 2012-2013 is worse than Q4 2011-2012. 5.5% growth tops。:laugh:
 

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