Rupee posts its biggest daily gain in three years; sensex jumps 439 points
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Splurgenxs
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well the rupee is still 57.15 ,though th e sensex got a real boost.
regular
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Yes! Ure dreams are so sweet, Keep on nice dreaming........
MMS is a silent killer
U r jealous, dont ya?Yes! Ure dreams are so sweet, Keep on nice dreaming........
Backbencher
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Yes! Ure dreams are so sweet, Keep on nice dreaming........
Atleast we do have the vision and capability to dream & do big unlike our big mouth neibhour
Splurgenxs
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we still have a big fiscal deficit to balance out ...such erratic indicators should not be a reason for Indians to start running there mouths off or relaxing.
Stop viewing things on a day to day basis one bad news now and stocks tumbles another good policy action and it goes up.
What India suffers form is not falling stocks or depreciationg rupee...but a twinn deficit problem.
So kindly if Indians can stop posting ratings and rupee fluctuations, and focus on news tht informs on the progress made vis a vis the deficits.
IF the deficits reduce the rupee will gain automatically.
Stop viewing things on a day to day basis one bad news now and stocks tumbles another good policy action and it goes up.
What India suffers form is not falling stocks or depreciationg rupee...but a twinn deficit problem.
So kindly if Indians can stop posting ratings and rupee fluctuations, and focus on news tht informs on the progress made vis a vis the deficits.
IF the deficits reduce the rupee will gain automatically.
Icewolf
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Basically Indian economy is just a guessing game. They don't really have a stable economic base, it's really just their big middle class that's driving it, otherwise investors would be running out... India is still a primitive economy, if some terror strike happens in India, consider Indian Economy done for. There really is no stable economic base, and IT isn't major. Textile industries of India are very low, compared to countries like BD and Pakistan.
Splurgenxs
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^^
"Better to remain silent and be thought a fool than to speak out and remove all doubt"
"Better to remain silent and be thought a fool than to speak out and remove all doubt"
Nice try
have some air now.
tvsram1992
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Is this what being taught in your country that economy is a guess game ? I cant blame your teachers as its true for you
Jade
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We have been growing since last 20 years. We must be doing something right. In fact 6.5% growth rate was the lowest in last 10 year. Most countries would jump to clock 6.5%, but for India we are not content.
Icewolf
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Is this what being taught in your country that economy is a guess game ? I cant blame your teachers as its true for you
Indian economy is a guess game for investors... Sometimes it shooting up, sometimes it's nose diving. Once you guys have a stable economic base, then you guys cannot be called a primitive economy that only runs on its middle class.
Jade
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Indias economy the fightback
AFTER a storm-tossed six months for the economy, Indias authorities are trying to get things back on an even keel. On June 25th the Reserve Bank of India (RBI) announced measures to try to stabilise the rupee. It has lost a fifth of its value against the dollar in the past year, reflecting global woes but also a slowdown in India and a drying up of capital inflows. Its decline is widely seen in India as a bad thing, stoking inflation and hurting firms with foreign-currency debt.
India has long shied away from letting fickle foreigners buy government bonds, but the RBI this week loosened the rules to tempt in sovereign-wealth funds and other long-term investors. It also slightly eased restrictions on Indian manufacturing and infrastructure firms seeking funds abroad.
IKEA, a Swedish furniture chain, boosted morale by saying it would invest up to 1.5 billion ($1.9 billion) in Indiaalthough on closer inspection that sum was spread over many years. Coca-Cola followed suit with the announcement of an additional $3 billion in investment, taking the total earmarked for India by 2020 to $5 billion. A ratings agency proved oddly helpful, too: on June 25th Moodys signalled it would not follow Standard & Poors and Fitch, which have both warned of a possible downgrade of India to junk status. Its rating, which hovers just within investment grade, remains stable, the agency said.
The impact of all this? Not much. The rupee is still near record lows. Yet there is a feeling that a bleak picture may be improving slightly, mainly thanks to a government reshuffle. Pranab Mukherjee, the finance minister, left his position on June 26th to contest the largely ceremonial post of the presidency. Mr Mukherjee, who presented his first budget in 1982, has had a disastrous stint as finance minister this time round, pursuing controversial tax claims against foreigners, including Vodafone; failing to tame the budget deficit; and chairing troubleshooting committees that often fired ordnance at Indias own feet.
Responsibility for the finance ministry, for a time at least, has passed to Manmohan Singh, the prime minister. Although even less of a spring chickenat 79, compared with Mr Mukherjees 76he has credentials as a reformer, having served as finance minister when India unveiled its liberalisation in 1991.
At the end of his career, the hope is that Mr Singh makes a stand and rams through budget cuts and vital changes on tax and foreign investment. It could make a difference, says an official. He has a lot of credibility. It is an area that is close to his heart and his reputation will be much more on the line The situation is tough so there is a limit to what can be done, but it is a mood-lifter. His party, Congress, which leads the ruling coalition and is run by Sonia Gandhi, its hereditary chief, is lukewarm about making tough decisions. But there are signs that it may have successfully wooed one or two smaller parties outside its present coalition, which may help it push tricky changes through parliament.
The promise of a push on reforms has been madeand brokenconsistently by the government for years. With a busy electoral timetable up to general elections in 2014, it may be harder to fulfil than ever. Still, others, stepping back from the hurly-burly, can see a silver lining in Indias great wobble, particularly the fall in the currency. T.C.A. Ranganathan, the chairman of Exim Bank of India, which finances trade, says: The exchange rate has moved in our favour. Im fairly happy. He reckons a weaker rupee will help spur a long-awaited boom in manufacturing. Kaushik Basu, the governments chief economic adviser, no slouch on the need for reform, agrees. A cheaper currency means India is getting an advantage for our export sector. Perhaps, in time, that may prove more important than todays firefighting.
India
AFTER a storm-tossed six months for the economy, Indias authorities are trying to get things back on an even keel. On June 25th the Reserve Bank of India (RBI) announced measures to try to stabilise the rupee. It has lost a fifth of its value against the dollar in the past year, reflecting global woes but also a slowdown in India and a drying up of capital inflows. Its decline is widely seen in India as a bad thing, stoking inflation and hurting firms with foreign-currency debt.
India has long shied away from letting fickle foreigners buy government bonds, but the RBI this week loosened the rules to tempt in sovereign-wealth funds and other long-term investors. It also slightly eased restrictions on Indian manufacturing and infrastructure firms seeking funds abroad.
IKEA, a Swedish furniture chain, boosted morale by saying it would invest up to 1.5 billion ($1.9 billion) in Indiaalthough on closer inspection that sum was spread over many years. Coca-Cola followed suit with the announcement of an additional $3 billion in investment, taking the total earmarked for India by 2020 to $5 billion. A ratings agency proved oddly helpful, too: on June 25th Moodys signalled it would not follow Standard & Poors and Fitch, which have both warned of a possible downgrade of India to junk status. Its rating, which hovers just within investment grade, remains stable, the agency said.
The impact of all this? Not much. The rupee is still near record lows. Yet there is a feeling that a bleak picture may be improving slightly, mainly thanks to a government reshuffle. Pranab Mukherjee, the finance minister, left his position on June 26th to contest the largely ceremonial post of the presidency. Mr Mukherjee, who presented his first budget in 1982, has had a disastrous stint as finance minister this time round, pursuing controversial tax claims against foreigners, including Vodafone; failing to tame the budget deficit; and chairing troubleshooting committees that often fired ordnance at Indias own feet.
Responsibility for the finance ministry, for a time at least, has passed to Manmohan Singh, the prime minister. Although even less of a spring chickenat 79, compared with Mr Mukherjees 76he has credentials as a reformer, having served as finance minister when India unveiled its liberalisation in 1991.
At the end of his career, the hope is that Mr Singh makes a stand and rams through budget cuts and vital changes on tax and foreign investment. It could make a difference, says an official. He has a lot of credibility. It is an area that is close to his heart and his reputation will be much more on the line The situation is tough so there is a limit to what can be done, but it is a mood-lifter. His party, Congress, which leads the ruling coalition and is run by Sonia Gandhi, its hereditary chief, is lukewarm about making tough decisions. But there are signs that it may have successfully wooed one or two smaller parties outside its present coalition, which may help it push tricky changes through parliament.
The promise of a push on reforms has been madeand brokenconsistently by the government for years. With a busy electoral timetable up to general elections in 2014, it may be harder to fulfil than ever. Still, others, stepping back from the hurly-burly, can see a silver lining in Indias great wobble, particularly the fall in the currency. T.C.A. Ranganathan, the chairman of Exim Bank of India, which finances trade, says: The exchange rate has moved in our favour. Im fairly happy. He reckons a weaker rupee will help spur a long-awaited boom in manufacturing. Kaushik Basu, the governments chief economic adviser, no slouch on the need for reform, agrees. A cheaper currency means India is getting an advantage for our export sector. Perhaps, in time, that may prove more important than todays firefighting.
India
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