Indian Economy-News & Updates

[black_jack]

India's economy is highly dependent on weather, grow up

work hard kid , you don't know how to troll

You posted news about rain in mumbai , rain deficit in mumbai won't affect economy of our country . It is too early to say it is 'bad monsoon' , we have half july and entire august September .

 

[Zeeshan360]

Actually low rainfall in Mumbai is good
As there as less traffic jams

 

[Donatello]

Mumbai - Rain deficit in increased to 41.92% on Sunday

July 09, 2012

The rain deficit in Mumbai increased to 41.92% as the city received scanty rainfall on Sunday. According to the India Meteorological Department (IMD), till Sunday the deficit in rainfall since the onset date of June 1 rose to 436mm in south Mumbai.


Weak monsoon pushes city rain deficit to 42% - Hindustan Times

Getting worse and worse..

...and why is this worse? more rain, more floods??

 

[cirr]

5.8% GDP growth for FY 2012-2013。 Tops

 

[ajtr]

Mumbai - Rain deficit in increased to 41.92% on Sunday

July 09, 2012

The rain deficit in Mumbai increased to 41.92% as the city received scanty rainfall on Sunday. According to the India Meteorological Department (IMD), till Sunday the deficit in rainfall since the onset date of June 1 rose to 436mm in south Mumbai.


Weak monsoon pushes city rain deficit to 42% - Hindustan Times

Getting worse and worse..

I wonder which business in Mumbai is dependent on monsoon?or do mumbaikar do cultivation in Mumbai like they do in Beijing an shanghai???

 

[cloud_9]

RBI to launch plastic currency on pilot basis in 5 centres

NEW DELHI: Amid instances of counterfeiting of notes, the Reserve Bank today said it is working on launching plastic currency and will soon launch a pilot project for the same.

"Counterfeiting of plastic notes is very difficult. So we are planning to launch some plastic money on pilot basis in 4-5 centres. Like Jaipur, Shimla, Bhubaneshwar and other centres. We are working on it," RBI Deputy Governor H R Khan told reporters here.

Under the pilot project for issue of plastic currency notes, notes of Rs 10 denomination would be distributed through the central bank's five regional offices.

The proposed shift to plastic currency notes, instead of the normal paper notes, is primarily aimed at checking the counterfeiting as also high cost associated with printing of paper currency, as they need early replacement due to soiling and mutilation.

These notes would have an average life span of 5 years compared to one year for the currency notes, and also these notes are cleaner than paper notes and it would be difficult to counterfeit the currency.

Besides studying the potential cost savings through plastic notes, the pilot project will also look into the environmental impact of the proposed plastic notes.

The polymer notes were first introduced in Australia to safeguard against counterfeiting of currency. Besides Australia, other countries which have introduced plastic notes include New Zealand, Papua New Guinea, Romania, Bermuda, Brunei and Vietnam.

 

[kaykay]

Metro plan for Noida Extension - The Times of India

Metro plan for Noida Extension

NOIDA: Noida Extension homebuyers now have another reason to cheer as the Metro line is going to be extended till Eco Village-III housing project giving them the much-needed connectivity. This route will come as an extension of the Sector 71 line.

UP government sources said the proposal will be tabled in the board meeting of Noida and Greater Noida authorities on Monday and discussions are on for the Detailed Project Report.

Government sources said that after the Samajwadi Party took over the reins in Lucknow, the Metro expansion plan was changed and connectivity to Noida Extension became a priority.

In addition to Noida Extension, group housing projects are also being constructed in various areas in Noida, especi ally Sectors 74, 75, 76, 77, 78, 79, 112 and 119. The Metro extension will even cater to these areas where nearly 50 housing projects are being constructed.

"The City Center Metro line will be extended till Eco Village via Sector 71. There will be four stations out of which two will be in Noida Extension. The Metro terminal will be near Eco Village-III, which is around 3km from Noida Extension roundabout," said a senior government official.

In May, 2011, a new line starting from City Center station in Sector 32 was approved till Sector 62, touching NH-24. This new 6km route was planned via Sector 71 crossing to provide connectivity to Sectors 32, 34, 35, Hoshiarpur, Sectors 51, 52, 71, Greater Noida Extension Marg, Sarfabad, Sectors 60, 61, 62, 63 and NH-24.

Another loop from Sector 71 via Sector 121, Knowledge Park-IV and Pari Chowk has been planned till Bodaki railway station in Greater Noida. This expansion will connect Noida Extension that falls near Sector 121.

As per the new plan, the two Metro stations likely to be developed in Noida will be in Sectors 71 and 121, while the first station in Noida Extension will be developed near the township's roundabout which will head towards Eco Village-III.

"The DPR of the project has already been discussed with Delhi Metro Rail Corporation. The authorities are keen to introduce the first Metro rail connecting Noida Extension with Delhi-NCR after a briefing from Lucknow. The other lines will be made on a public-private partnership model," sources added.

 

[SinoChallenger]

Rupee at 56 again! dropping quickly.

 

[IndoCarib]

New York: Eight Indian companies have made the cut in the list of world's 500 largest companies compiled by Fortune magazine, with Indian Oil and Reliance Industries finding a place in the top 100. Out of the eight, five are state-run entities. With an annual revenue of $86,016 million, Indian Oil has cornered the 83rd spot up from 98th place last year.

Mukesh Ambani-led Reliance Industries is the first Indian private firm to made into the top 100 list. With annual revenue of $76,119 million, RIL, has improved its ranking to 99 from previous year's 134.

Eight Indian companies in Fortune 500 list; IOC, RIL lead pack - Business News - IBNLive

 

[Gandhi G in da house]

5.8% GDP growth for FY 2012-2013。 Tops

Link ? Source ?

 

[Bobby]

Rupee at 56 again! dropping quickly.

Where were you hiding when it was going up .....

 

[eachus]

Rupee at 56 again! dropping quickly.

Where were you hiding when it was going up .....

Yes, correct.
look at the chart, it is indeed going up again. 54, 55, 55.5, ,,, 56, ,,

$1 was to Rupee 54 in 4 days ago
$1 was to Rupee 55 in 3 days ago
$1 was to Rupee 55.5 in 2 days ago
$1 was to Rupee 56 in 1 day ago
Exchange Rates Graph (American Dollar, Indian Rupee) - 120 days - x-rates

 

[eachus]

5.8% GDP growth for FY 2012-2013。 Tops

Link ? Source ?

Nick, you dont understand India, I bet "cirr" can not find such a proof.
if India predicts their future GDP growths at 5.8%, goodness, you need to knot 2% or 3% off.
they never ever have a number close to a fact.

there is a chart on internet over a year. Typical Indian expected India will catch up soon, in 2011, both will have similar growth, and 2015, India will leave China behind. Indian wont have 5.8% or less in the future.

Indian members expect China growth 8.4% in 2011, actual was 9.2%.
Indian members expect China growth 8.2% in 2011, actual was 6.5%.

Indian members expect China growth 8.7% in 2012, actual will be 8.2%?
Indian members expect China growth 8.3% in 2012, actual will be 5.5%?

 

[eachus]

my god, that was even lower than 5.8%


economictimes.indiatimes.com 2012-07-03 news


Nomura lowers India GDP growth projection for 2012 to 5.5 per cent
PTI Jul 3, 2012, 08.48PM IST


NEW DELHI: Attributing economic slowdown in India to monetary and fiscal policy, global financial service provider Nomura has lowered the country's GDP growth projection for 2012 to 5.5 per cent from 6.1 per cent.

It has also lowered the projection for India's economic growth for 2013 to 6.6 per cent from 7.1 per cent.

"Our economics team cut India's GDP growth forecast (to 5.5 per cent from 6.1 per cent for 2012 and 6.6 per cent from 7.1 per cent for 2013) while revising up WPI inflation forecast to 7.6 per cent from 7.1 per cent, citing the deadlock in its monetary and fiscal policy," it said in a report.

Nomura lowers growth projection for 2012 to 5.5 per cent - Economic Times

 

[black_jack]

BSE Sensex rallies to 4-month high; banks lead


(Reuters) - The BSE Sensex rallied to its highest close since mid-March led by gains in private sector banks such as ICICI Bank on hopes improving asset quality would lead to better-than-expected earnings in the upcoming reporting season.

Investor sentiment was also boosted by data showing that foreign institutional investors (FIIs) remained buyers of Indian stocks this month, while gains in European stocks also helped.

ICICI Bank (ICBK.NS) shares rose 1.4 percent, while Axis Bank (AXBK.NS) gained 4.1 percent.

The 30-share BSE index .BSESN provisionally ended up 1.3 percent to 17,618.35 points, the highest close since March 15. The broader 50-share Nifty gained 1.33 percent to 5,345.35 points.

BSE Sensex rallies to 4-month high; banks lead | Reuters