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In a shocker, growth in Q4FY12 dropped to nine year low of 5.3% YoY, lower than anyone could have gauged. On hindsight, Analysts estimate at 6.1% YoY appeared rather optimistic.
Services sector that has otherwise been the key growth driver clocked 8.9% YoY growth in FY12 compared to 9.3% YoY in FY11. If the services sector fails to recover in 2012, growth prospects could get even more clouded.
Industrial growth slumped by almost half to 3.4% YoY from 7.6% earlier
We are all aware that India ranks as the largest consumer of Gold globally, accounting for 26% of World’s Gold demand. Household gold consumption has gone from US$19 billion in 2009 to US$45 billion in 2011. Over the past 10 years, Indian household gold consumption has increased at a CAGR of 21% [More than BSE SENSEX or GDP or Corporate Profits] Private ownership of gold is fully US$1trillion. Over the past three years, Gold investments have exceeded equity savings by a factor of 11.
Indian Yellow Metal / Gold Trends in 2011 ?
As per WGC, in 2011, India’s gold demand fell 9% in volume terms. The share of world gold consumer
Read moreWhy and When Indians BUY Gold + Consumption in 2011 + WGC projections for 2012
The Anonymous hacker group is targeting Indian Websites because of Government’s / Politicians arrogance towards Internet Censorship. Their central theme reads,
The Department of Telecom has ordered all internet service providers to block all file sharing websites, it’s time for you to stand up and show that the corrupt government cannot stop you!
The Group has released Primary and Secondary List of Websites that will
The White Paper presented in the Parliament makes a good background reading on various ways of generating black money: the paper focuses on black money generated via non-disclosure to public authorities rather than that generated from illegal activities. Eighteen ways of manipulating accounts to generate black money are highlighted and ‘vulnerable’ sectors like real estate, bullion, Equity Trading, public procurement, transfer pricing and tax havens are identified.
The paper argues that claims of Indians holding US$1.5 Trillion of assets in Swiss / Foreign banks
Read moreIndian Politicians Across the Board Lack the Will to Curb Black Money
India’s high import demand for petroleum (which is nearly price inelastic) and gold (driven by a shortage of investible asset classes in a high inflation environment) are primarily responsible for India’s burgeoning import bill. In fact, adjusting for India’s imports of Petroleum products and Gold would turn India’s current account deficit (CAD) into a hefty current account surplus.
Things Look Gloomy for FY 2013 – Despite a large merchandise import bill,