LIVE MARKET TRACKER :   BSE SENSEX   27458.64      |    NSE NIFTY 8341.40    
GLOBAL MARKETS :  NASDAQ 4891.22   +0.57%    |    FSI London 6855.02   -0.58%    |    NIKKEI Japan 19285.63   -0.95%
  USD GBP EUR CAD AUD INR
USD - 0.6714 0.9182 1.2605 1.2916 62.5370
GBP 1.4897 - 1.3678 1.8777 1.9245 93.1601
EUR 1.0892 0.7312 - 1.3729 1.4074 68.1128
CAD 0.7936 0.5328 0.7287 - 1.0252 49.6290
AUD 0.7743 0.5199 0.7110 0.9760 - 48.4236
INR 0.0160 0.0107 0.0147 0.0202 0.0207 -
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
Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctions
(27-Mar-2015)

Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctionsThe government after getting a go ahead from the Supreme Court declared the winners of the recently concluded airwaves auction. Now the government can collect initial upfront payment of Rs 28,872 crore......click on news to read complete article.

Cadila Healthcare, Bharti Airtel and Idea Cellular to see some action today
(27-Mar-2015)

Cadila Healthcare, Bharti Airtel and Idea Cellular to see some action todayCadila Healthcare has purchased 50% shares of Zydus BSV Pharma from Bharat Serums and Vaccines and now Zydus BSV has become 100% subsidiary of Cadila Healthcare. Zydus Cadila is an innovative, global pharmaceutical......click on news to read complete article.

Govt to step up public spending on infrastructure, ease entry barriers for overseas investors
(26-Mar-2015)

Govt to step up public spending on infrastructure, ease entry barriers for overseas investorsFinance Minister Arun Jaitley has expressed his concern over slow growth of manufacturing sector and promised to step up public spending on infrastructure, ease entry barriers for overseas investors and......click on news to read complete article.

International Stock News
US markets snap four days losing streak
(28-Mar-2015)

US markets snap four days losing streakSnapping their four days losing streak, the US market closed higher on Friday due to a positive reaction to prepared remarks by Federal Reserve Chair Janet Yellen. In a speech at a San Francisco Fed conference,......click on news to read complete article.

US markets closed lower for fourth straight session
(27-Mar-2015)

US markets closed lower for fourth straight sessionThe US market closed lower on Thursday, declining for the fourth consecutive session, with the benchmark S&P 500 turning negative for the year and recording its longest losing streak since January.......click on news to read complete article.

US markets closed lower; S&P, Dow marks sharpest losses in two weeks
(26-Mar-2015)

US markets closed lower; S&P, Dow marks sharpest losses in two weeksThe US market closed lower on Tuesday, with Nasdaq Composite suffering its steepest decline since April 2014, as investors' dumped technology and biotech shares. The carnage on the Street marks the third......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.