LIVE MARKET TRACKER :   BSE SENSEX   27019.39      |    NSE NIFTY 8083.05    
GLOBAL MARKETS :  NASDAQ 4598.188   +0.39%    |    FSI London 6829.17   +0.06%    |    NIKKEI Japan 15791.32   +0.78%
  USD GBP EUR CAD AUD INR
USD - 0.6072 0.7616 1.0933 1.078 60.67
GBP 1.647 - 1.2544 1.8007 1.7754 99.9247
EUR 1.3132 0.7974 - 1.4357 1.4156 79.6706
CAD 0.9151 0.5557 0.6969 - 0.9864 55.5179
AUD 0.9279 0.5635 0.7067 1.0145 - 56.2951
INR 0.0165 0.01 0.0126 0.018 0.0178 -
Indian-Commodity  :  Economy  :  Kaushik Basu supports India's growth story; foresees GDP back at 8.5-9% in 2 years

Kaushik Basu supports India's growth story; foresees GDP back at 8.5-9% in 2 years (07-Nov-2012)

Kaushik Basu, the World Bank Chief Economist expressing his hopes on India's growth story stated that the Asia's third largest economy is likely to revert the growth rate to the pre-global crisis level of 8.5-9 percent after two years. According to Basu, for the current fiscal, however, a growth rate of 5.5-6 percent should be good enough taking into account various global and domestic factors.

Finance Minister P Chidambaram, foreseen the future with year ending 5.5 to 6 percent growth, barring any unexpected shocks, and next year getting back to 7 percent growth, and in 2014-15 getting back to 8 percent growth, kept India remained between 5.5 and 6, an unrealistic figure. India's growth rate in 2011-12 had slipped to a nine-year low of 6.5 percent.

Moreover, the fiscal deficit in the current year, according to Finance Ministry's estimates is likely to be 5.3 percent of the Gross Domestic Product (GDP), up from 5.1 percent estimated in the budget for 2012-13. Referring to India's fiscal problems, Basu said “in the global scenario, the situation was not that bad for the country.”

However, according to industry experts, including credit rating agencies, fiscal deficit could be even as high as 6.1 percent in view of rising gap between revenue and expenditure.


Top News Today
RIL, ONGC and Wockhardt to see some action today
(01-Sep-2014)

RIL, ONGC and Wockhardt to see some action todayReliance Industries (RIL) has returned nearly 1,384 acres of land in Gurgaon that was acquired for its SEZ, saying that the withdrawal of the concessions offered to special economic zones (SEZ) has made......click on news to read complete article.

M&M, Hero MotoCorp and Tech Mahindra to see some action today
(27-Aug-2014)

M&M, Hero MotoCorp and Tech Mahindra to see some action todayMahindra Agribusiness, part of the farm to aerospace conglomerate Mahindra & Mahindra (M&M), is all set to enter the dairy segment through the inorganic route, with a focus on the pouched......click on news to read complete article.

RIL, SAIL and Tata Steel to see some action today
(21-Aug-2014)

RIL, SAIL and Tata Steel to see some action todayReliance Industries (RIL) is implementing a project to import 1.5 million tonnes of ethane to feed its crackers in India, taking advantage of the US shale gas revolution. The project will significantly......click on news to read complete article.

International Stock News
US markets gain on encouraging economic data
(01-Sep-2014)

US markets gain on encouraging economic dataThe US markets closed higher on Friday, building on weekly and monthly advances, as largely upbeat US economic data offset overseas worries. The S&P and Dow notched their fourth up week in a row,......click on news to read complete article.

US markets closed mostly up; S&P holds 2,000 mark
(28-Aug-2014)

US markets closed mostly up; S&P holds 2,000 markThe US markets closed mostly higher on Wednesday, with the S&P 500 staying around 2,000 a day after it closed over that milestone. Global markets are surmounting crises in Ukraine, the Gaza Strip......click on news to read complete article.

US markets gain; S&P close above 2,000 for the first time
(27-Aug-2014)

US markets gain; S&P close above 2,000 for the first timeThe US markets closed higher on Tuesday, with the S&P 500 notching it's first-ever finish above the milestone level of 2,000. A stronger-than-expected reading on consumer confidence provided a......click on news to read complete article.

 

     
  
Recent Economy News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.