- Joined
- Mar 19, 2016
- Messages
- 5,718
- Likes
- 11,618
But they will never achieve the level of technology and advancements of japan.On is an islamic hell hole other is an african hell hole.Nigeria and Indonesia are above Japan
Indian Economy: News and Discussion
- Thread starter Tuco
- Start date
- Joined
- Jul 12, 2014
- Messages
- 31,920
- Likes
- 148,076
Hehe!!!Lets colonialise NIGERIA.
===========================================
Yup, let's make friends with that Nigerian prince who is mentioned in those scam mails.
- Joined
- Oct 10, 2009
- Messages
- 9,513
- Likes
- 22,526
After 3 years I can say that Modi govt is making slow but steadfast steps against Islamic terror and illegally migrated population, Aadhar linking with Pan, cancellation of 11 lakhs pan cards, ration cards, increased no. Of IT payers etc. proves that Modi is on right track...
IndianHawk
Senior Member
- Joined
- Sep 24, 2016
- Messages
- 9,058
- Likes
- 37,672
Nigeria is in serious trouble for two reasons first oil prices have collapsed and more likely to remain low in coming decades.
Second Islamic population is now about 50%+ in Nigeria , many province have implemented Sharia law. Also Boko Haram are getting stronger. Meanwhile population is rising much faster than even pakistan.
If you ask me I can see Nigeria broken into two different islmaic and Christian nations in coming decades.
Indonesia is doing batter. But radicalism is also affecting it. Secondly it's growth depends too much on Australia and China as both are main export destination , foreign investors and source of tourists.
A Chinese slowdown will unravel Australia too and both of them will take Indonesia down with them.
That being said projection are only good for next 4-5 years.
Japan lost a decade of growth due to deflation. Brazil is already in serious trouble , Russian GDP stalled and Venezuela on verge of default .
It can happen with other nations too . That is why India must turn into knowledge economy faster which can grow no matter how the circumstances are .
- Joined
- Jul 12, 2017
- Messages
- 431
- Likes
- 1,079
This news from America could be good:
https://asia.nikkei.com/Politics-Ec...y-into-Beijing-s-intellectual-property-policy
If the US puts sanctions on the Chinese, it could help bolster our push for Make in India.
https://asia.nikkei.com/Politics-Ec...y-into-Beijing-s-intellectual-property-policy
If the US puts sanctions on the Chinese, it could help bolster our push for Make in India.
Prashant12
Senior Member
- Joined
- Aug 9, 2014
- Messages
- 3,027
- Likes
- 15,002
What slowdown? MNC tech firms are hiring thousands
The Indian IT services sector may be passing through some rough weather with challenges of automation and lower growth rates, forcing many to lay off employees and reduce the rate of hiring. But many technology MNCs in the country are continuing to hire in large numbers. Companies such as Accenture, Capgemini, Oracle, IBM, and Goldman Sachs are hiring in hundreds, some in thousands.
Accenture has 5,396 job openings in India, more than four times the openings in the US and more than 12 times that in Poland and Philippines, its other major hiring locations. French IT major Capgemini has 2,649 job openings for India, 55% of its worldwide hiring, according to the company's website.
Oracle has 1,124 open positions for India. TOI reported last week that e-commerce giant Amazon was in process of hiring thousands in India.Their website currently lists 1,208 open positions.
Other major hirers include IBM (675 open positions), Goldman Sachs (320), Dell (285), Microsoft (235), Cisco (229), and French bank Societe Generale (185). The openings are periodically refreshed, so the total hiring in a year could be significantly more.
The global inhouse centres (GICs) of MNCs in India are growing at 10% in terms of revenue and employ close to 770,000 people, according to IT industry body Nasscom. Consultancy firm Zinnov estimates there are 1,150 MNCs with GICs in India, and puts the employment figure at 815,000 for 2016. It is estimated that the GICs will add an additional 30,000 jobs this year on a net basis (excluding those who quit firms in the category to find jobs elsewhere). About 35% of the GICs are in Bengaluru, and 15% in NCR. "All these MNC GICs are doing their digitisation initiative in India, and most of their newly added capacities are also expected to be in India," K S Viswanathan, VP, industry initiatives at Nasscom, said.
The job openings are heartening, given especially that four of the biggest IT services companies - TCS, Cognizant, Infosys and Tech Mahindra - saw their workforces shrink at the end of the June quarter. The current job openings by themselves don't tell us whether the MNCs are increasing their hiring or reducing them. Accenture, for instance, had 10,700 job openings around the same time three years ago, but Capgemini had a slightly lower number three years ago than what it is now.
But more and more MNCs are establishing GICs in India, among the recent ones being Saks Fifth Avenue and TransUnion. And the ones that came in the past few years are now confident enough to expand rapidly , like Lowe's and JCPenney. Lowe's 490,000 sq ft office space lease deal in Bengaluru was the second largest in India in the first half of this year, after that of Microsoft's 589,000 deal, according to property consultancy Colliers International.
"If a company wants to hire 1,000 people in a quarter for things like data analytics, India is the only place where you will find people available at that kind of scale, and it will remain so," Sandeep Mathur, former Oracle India managing director, said. MNCs, he said, had long stopped coming to India for cost. "They need people to address their growth challenges and even automation codes have to be written by humans."
http://timesofindia.indiatimes.com/...e-thousands-in-india/articleshow/60095641.cms
The Indian IT services sector may be passing through some rough weather with challenges of automation and lower growth rates, forcing many to lay off employees and reduce the rate of hiring. But many technology MNCs in the country are continuing to hire in large numbers. Companies such as Accenture, Capgemini, Oracle, IBM, and Goldman Sachs are hiring in hundreds, some in thousands.
Accenture has 5,396 job openings in India, more than four times the openings in the US and more than 12 times that in Poland and Philippines, its other major hiring locations. French IT major Capgemini has 2,649 job openings for India, 55% of its worldwide hiring, according to the company's website.
Oracle has 1,124 open positions for India. TOI reported last week that e-commerce giant Amazon was in process of hiring thousands in India.Their website currently lists 1,208 open positions.
Other major hirers include IBM (675 open positions), Goldman Sachs (320), Dell (285), Microsoft (235), Cisco (229), and French bank Societe Generale (185). The openings are periodically refreshed, so the total hiring in a year could be significantly more.
The global inhouse centres (GICs) of MNCs in India are growing at 10% in terms of revenue and employ close to 770,000 people, according to IT industry body Nasscom. Consultancy firm Zinnov estimates there are 1,150 MNCs with GICs in India, and puts the employment figure at 815,000 for 2016. It is estimated that the GICs will add an additional 30,000 jobs this year on a net basis (excluding those who quit firms in the category to find jobs elsewhere). About 35% of the GICs are in Bengaluru, and 15% in NCR. "All these MNC GICs are doing their digitisation initiative in India, and most of their newly added capacities are also expected to be in India," K S Viswanathan, VP, industry initiatives at Nasscom, said.
The job openings are heartening, given especially that four of the biggest IT services companies - TCS, Cognizant, Infosys and Tech Mahindra - saw their workforces shrink at the end of the June quarter. The current job openings by themselves don't tell us whether the MNCs are increasing their hiring or reducing them. Accenture, for instance, had 10,700 job openings around the same time three years ago, but Capgemini had a slightly lower number three years ago than what it is now.
But more and more MNCs are establishing GICs in India, among the recent ones being Saks Fifth Avenue and TransUnion. And the ones that came in the past few years are now confident enough to expand rapidly , like Lowe's and JCPenney. Lowe's 490,000 sq ft office space lease deal in Bengaluru was the second largest in India in the first half of this year, after that of Microsoft's 589,000 deal, according to property consultancy Colliers International.
"If a company wants to hire 1,000 people in a quarter for things like data analytics, India is the only place where you will find people available at that kind of scale, and it will remain so," Sandeep Mathur, former Oracle India managing director, said. MNCs, he said, had long stopped coming to India for cost. "They need people to address their growth challenges and even automation codes have to be written by humans."
http://timesofindia.indiatimes.com/...e-thousands-in-india/articleshow/60095641.cms
captscooby81
Senior Member
- Joined
- Dec 25, 2016
- Messages
- 7,122
- Likes
- 27,111
Indonesia has Palm Oil 
..Jokes apart Indonesia Export Coal so that might be contributing to it growth plus the expansion of palm oil ..
..Jokes apart Indonesia Export Coal so that might be contributing to it growth plus the expansion of palm oil ..
- Joined
- Aug 13, 2016
- Messages
- 2,076
- Likes
- 4,006
please show this to the Indian commies
Prashant12
Senior Member
- Joined
- Aug 9, 2014
- Messages
- 3,027
- Likes
- 15,002
India’s forex reserves may cross $400 billion in September: Morgan Stanley
If current pace of dollar accretion continues, India’s forex reserves would hit $400 billion by the week to 8 September, says Morgan Stanley
The Morgan Stanley report says India’s forex reserves have been rising with a total accretion of $4.389 billion to the kitty since 14 July 2017. Photo: Mint
Mumbai: If the present pace of dollar accretion to India’s forex reserves continues, which crossed past $393 billion, the reserves may hit the $400-billion mark by the week to 8 September 2017, according to a report by financial services firm Morgan Stanley.
India’s forex reserves have been rising with a total accretion of $4.389 billion to the kitty since 14 July 2017. It had touched a record high of $393.448 billion after it rose by $581.1 million in the week to 4 August 2017.
“If the pace of foreign exchange reserves is similar to that of the past four weeks, the reserves would hit $400 billion by the week to 8 September. Indeed, adjusted for forward positions, forex reserves are already at $407 billion,” Morgan Stanley said in a note on Thursday.
The pace of forex accretion has been the strongest since 2015 and this has also been one of the strongest in Asia ex-Japan in the past 12 months, the report said.
The surge in the reserves is on account of high inflows from overseas investors.
On a 12-month trailing sum basis, foreign direct and institutional flows remained robust at $63 billion and $17 billion. This robust inflow of capital coupled with weak credit offtake (credit growth was 6.2% as of 21 July) has meant interbank liquidity remains in strong surplus mode of $42 billion, the report said.
It said as capital flows remain buoyant, this puts appreciation pressures on the currency and could lead to excess liquidity, which would create challenges for the Reserve Bank of India (RBI) to manage its monetary policy.
“The monetary policy will only take into account the impact of currency appreciation on inflation into its policy decision, rather than tackling currency rise per se,” the report said.
The RBI has already intervened in the currency markets—in both spot and forwards markets—to the tune of $3 billion and $17 billion, respectively, as of June 2017. Since then, the reserves have continued to rise, suggesting the RBI may have continued to accumulate dollars in forex reserves in July and August.
Since June, the RBI has had to withdraw liquidity by means of Rs30,000 crore of open market operations sales but despite these withdrawals, call rates are still closer to the reverse repo rate.
“As the excess liquidity challenge looks set to persist, the RBI will need more tools to manage excess liquidity, such as the standing deposit facility which is still under consideration,” the report said.
http://www.livemint.com/Money/lR2m0...rve-may-cross-400-billion-in-September-M.html
If current pace of dollar accretion continues, India’s forex reserves would hit $400 billion by the week to 8 September, says Morgan Stanley
The Morgan Stanley report says India’s forex reserves have been rising with a total accretion of $4.389 billion to the kitty since 14 July 2017. Photo: Mint
Mumbai: If the present pace of dollar accretion to India’s forex reserves continues, which crossed past $393 billion, the reserves may hit the $400-billion mark by the week to 8 September 2017, according to a report by financial services firm Morgan Stanley.
India’s forex reserves have been rising with a total accretion of $4.389 billion to the kitty since 14 July 2017. It had touched a record high of $393.448 billion after it rose by $581.1 million in the week to 4 August 2017.
“If the pace of foreign exchange reserves is similar to that of the past four weeks, the reserves would hit $400 billion by the week to 8 September. Indeed, adjusted for forward positions, forex reserves are already at $407 billion,” Morgan Stanley said in a note on Thursday.
The pace of forex accretion has been the strongest since 2015 and this has also been one of the strongest in Asia ex-Japan in the past 12 months, the report said.
The surge in the reserves is on account of high inflows from overseas investors.
On a 12-month trailing sum basis, foreign direct and institutional flows remained robust at $63 billion and $17 billion. This robust inflow of capital coupled with weak credit offtake (credit growth was 6.2% as of 21 July) has meant interbank liquidity remains in strong surplus mode of $42 billion, the report said.
It said as capital flows remain buoyant, this puts appreciation pressures on the currency and could lead to excess liquidity, which would create challenges for the Reserve Bank of India (RBI) to manage its monetary policy.
“The monetary policy will only take into account the impact of currency appreciation on inflation into its policy decision, rather than tackling currency rise per se,” the report said.
The RBI has already intervened in the currency markets—in both spot and forwards markets—to the tune of $3 billion and $17 billion, respectively, as of June 2017. Since then, the reserves have continued to rise, suggesting the RBI may have continued to accumulate dollars in forex reserves in July and August.
Since June, the RBI has had to withdraw liquidity by means of Rs30,000 crore of open market operations sales but despite these withdrawals, call rates are still closer to the reverse repo rate.
“As the excess liquidity challenge looks set to persist, the RBI will need more tools to manage excess liquidity, such as the standing deposit facility which is still under consideration,” the report said.
http://www.livemint.com/Money/lR2m0...rve-may-cross-400-billion-in-September-M.html
Akshay Fenix
Regular Member
- Joined
- Jun 17, 2017
- Messages
- 739
- Likes
- 3,076
Thats a no brainer Stanley ji.
- Joined
- Jul 12, 2014
- Messages
- 31,920
- Likes
- 148,076
They are not sitting idle...
Among other things, forex is a form of sovereign guarantee to goods imported from other countries until payments are made.
Others can correct if I am wrong...
Prashant12
Senior Member
- Joined
- Aug 9, 2014
- Messages
- 3,027
- Likes
- 15,002
Forex reserves at record high of USD 393.612 bn
Mumbai, Aug 18 (PTI) The country's foreign exchange reserves rose by USD 163.8 million to touch a new life-time high of USD 393.612 billion in the week ended August 11, helped by rise in foreign curre
Mumbai, Aug 18 (PTI) The country’s foreign exchange reserves rose by USD 163.8 million to touch a new life-time high of USD 393.612 billion in the week ended August 11, helped by rise in foreign currency assets (FCAs), the Reserve Bank data showed.
In the previous week, the reserves had increased by USD 581.1 million to USD 393.448 billion.
FCAs, a major portion of the overall reserves, rose by USD 175.6 million to USD 369.899 billion, the data showed.
Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.
The gold reserves remained unchanged at USD 19.943 billion.
The special drawing rights with the International Monetary Fund (IMF) declined by USD 5.8 million to USD 1.498 billion.
The country’s reserve position with the IMF also dipped by USD 6 million to USD 2.271 billion, the apex bank said.
http://www.india.com/news/agencies/forex-reserves-at-record-high-of-usd-393-612-bn-2411096/
Mumbai, Aug 18 (PTI) The country's foreign exchange reserves rose by USD 163.8 million to touch a new life-time high of USD 393.612 billion in the week ended August 11, helped by rise in foreign curre
Mumbai, Aug 18 (PTI) The country’s foreign exchange reserves rose by USD 163.8 million to touch a new life-time high of USD 393.612 billion in the week ended August 11, helped by rise in foreign currency assets (FCAs), the Reserve Bank data showed.
In the previous week, the reserves had increased by USD 581.1 million to USD 393.448 billion.
FCAs, a major portion of the overall reserves, rose by USD 175.6 million to USD 369.899 billion, the data showed.
Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.
The gold reserves remained unchanged at USD 19.943 billion.
The special drawing rights with the International Monetary Fund (IMF) declined by USD 5.8 million to USD 1.498 billion.
The country’s reserve position with the IMF also dipped by USD 6 million to USD 2.271 billion, the apex bank said.
http://www.india.com/news/agencies/forex-reserves-at-record-high-of-usd-393-612-bn-2411096/
- Joined
- Jul 12, 2014
- Messages
- 31,920
- Likes
- 148,076
Is there any website which compares your tax paid against what that amount buys..
Let's say somebody pays 10 lakh income tax, website should show that your tax multiplied by 100 equals construction of one KM of national highway
or
equals national average salary of clerk in govt office.
And so on...
Let's say somebody pays 10 lakh income tax, website should show that your tax multiplied by 100 equals construction of one KM of national highway
or
equals national average salary of clerk in govt office.
And so on...
- Joined
- Apr 17, 2017
- Messages
- 984
- Likes
- 1,969
Our gold reserves are pathetic compared to other similar sized economies. We need to double that number in a decade. Gold reserves are extremely important during currency volatility and international recession.
- Joined
- Jul 12, 2014
- Messages
- 31,920
- Likes
- 148,076
Gold reserves are deliberately being kept at a constant level it seems, RBI is focussing only on currency basket.
It's intentional..
- Joined
- Apr 17, 2017
- Messages
- 984
- Likes
- 1,969
Unlike FX, gold purchase happens only during a small window when gold prices are down in international market. We have to allocate resources and preplan gold purchase and get ready for any such opportunity to increase our reserve.
FX only protects our economy from import-export disparity and increases our purchasing power. e.g. oil. Gold reserves are important for currency stability and resilience against international recessions. We can't substitute one with another.
Prashant12
Senior Member
- Joined
- Aug 9, 2014
- Messages
- 3,027
- Likes
- 15,002
Government gets Rs 42,000 crore tax so far in first filing under GST
NEW DELHI: As much as Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) regime and the revenues are expected to swell further as the filing cycle closes this later this week.
A senior official said that about Rs 15,000 crore has come in as Integrated-GST, which is levied on inter-state movement of goods, and another Rs 5,000 crore by way of cess on demerit goods like cars and tobacco.
The remaining Rs 22,000 crore has come in as Central-GST and State-GST, which would be split equally between the Union and state government.
"Tax deposited till this morning was Rs 42,000 crore," the official said.
So far, 10 lakh tax payers have filed returns and another 20 lakh have logged in and saved return forms.
"We are seeing good compliance and our estimation is that 90-95 per cent of the assesses will file returns and pay taxes," he said.
Under the GST regime, which was implemented from July 1, businesses are expected to file the monthly tax return.
Tax for the first month is to be filed by an extended deadline of August 25. The deadline was extended as the tax return filing website snapped just a day before the due date ended on August 20.
GST unifies more than a dozen central and state levies including excise duty, service tax and VAT, and the revenue generated is to be split equally between the Centre and states.
In July last year, Rs 31,782 crore of excise duty was collected and Rs 19,600 crore of service tax.
Estimate for the combined sales tax or VAT collection by states was available.
While 72 lakh assessees of the old indirect tax regime have migrated to the GST Network portal, nearly 50 lakh have completed the migration process.
Besides, of the 15 lakh fresh registrations that have happened, as many as 10 lakh are expected to file returns for July.
A total of 60 lakh businesses are expected to file returns and pay taxes for July, the official added.
As per the GST law, any registered person who fails to furnish the details of outward or inward supplies or returns required by the due date will have to pay a late fee of Rs 100 for every day during which such failure continues subject to a maximum amount of Rs 5,000.
Besides, every person who fails to pay the tax within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, will be required to pay interest at 18 per cent from the day succeeding the day on which such tax was due to be paid.
The collections from customs duty and IGST from imports post-implementation of GST have almost doubled to Rs 30,000 crore in July.
This compares to indirect tax collection of over Rs 16,000 crore of the same month of 2016.
http://timesofindia.indiatimes.com/...rst-filing-under-gst/articleshow/60161639.cms
NEW DELHI: As much as Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) regime and the revenues are expected to swell further as the filing cycle closes this later this week.
A senior official said that about Rs 15,000 crore has come in as Integrated-GST, which is levied on inter-state movement of goods, and another Rs 5,000 crore by way of cess on demerit goods like cars and tobacco.
The remaining Rs 22,000 crore has come in as Central-GST and State-GST, which would be split equally between the Union and state government.
"Tax deposited till this morning was Rs 42,000 crore," the official said.
So far, 10 lakh tax payers have filed returns and another 20 lakh have logged in and saved return forms.
"We are seeing good compliance and our estimation is that 90-95 per cent of the assesses will file returns and pay taxes," he said.
Under the GST regime, which was implemented from July 1, businesses are expected to file the monthly tax return.
Tax for the first month is to be filed by an extended deadline of August 25. The deadline was extended as the tax return filing website snapped just a day before the due date ended on August 20.
GST unifies more than a dozen central and state levies including excise duty, service tax and VAT, and the revenue generated is to be split equally between the Centre and states.
In July last year, Rs 31,782 crore of excise duty was collected and Rs 19,600 crore of service tax.
Estimate for the combined sales tax or VAT collection by states was available.
While 72 lakh assessees of the old indirect tax regime have migrated to the GST Network portal, nearly 50 lakh have completed the migration process.
Besides, of the 15 lakh fresh registrations that have happened, as many as 10 lakh are expected to file returns for July.
A total of 60 lakh businesses are expected to file returns and pay taxes for July, the official added.
As per the GST law, any registered person who fails to furnish the details of outward or inward supplies or returns required by the due date will have to pay a late fee of Rs 100 for every day during which such failure continues subject to a maximum amount of Rs 5,000.
Besides, every person who fails to pay the tax within the period prescribed, shall for the period for which the tax or any part thereof remains unpaid, will be required to pay interest at 18 per cent from the day succeeding the day on which such tax was due to be paid.
The collections from customs duty and IGST from imports post-implementation of GST have almost doubled to Rs 30,000 crore in July.
This compares to indirect tax collection of over Rs 16,000 crore of the same month of 2016.
http://timesofindia.indiatimes.com/...rst-filing-under-gst/articleshow/60161639.cms
