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India’s BoP recorded a surplus of USD 2.1 bn during Q4FY10, more or less same as the previous quarter. Current account balance worsened a bit from the previous quarter, but was compensated by almost equal increase on the capital account.
Current account deficit stood at ~USD 13 bn during the quarter under review, amounting to ~3.4% of GDP, historically on the higher side. Among the important components of the current account, merchandise balance and private transfers deteriorated, while
Edelweiss Capital Ltd has informed has informed Free press about the outcome of its board meeting. Issue of 1 bonus share of the face value of Re. 1/- each (after sub-division) for every 1 equity share of the face value of Re. 1/- each (after sub-division) held in the Company as on the Record Date … Read more Edelweiss Cap – Bonus Issue – 1:1
May WPI inflation came in at 10.2% yoy, a big uptick from the 9.6% yoy in April. The reading was significantly higher than the consensus expectation of 9.6% yoy. The March inflation reading was also revised up to 11.0% yoy compared to 9.9% yoy earlier. On a sequential basis, headline inflation ticked up 1.5% mom s.a., compared to the 0.8% mom decline in April.
Read moreDouble Digit Inflation – Courtesy Congress Government
By Guest Author – Sudip Bhattacharyya
An area where professional leadership and decision making can be questioned is lending to Small and Micro enterprises. SBI, Chairman was quoted in Economic Times on 11th May 2009 saying that as SMEs mostly supply to large units, the risk perception is more there and accordingly higher interest rate is applicable to SMEs. The logic for higher risk perception is not quiet understood and in any case, no authentic expert study supporting such assertion was seen. This is despite professed national policy for inclusive growth and support for MSME. In stead, banks prefer lazy banking. (Indian banks now have investment of nearly Rs.85500 crores in Mutual Fund and Rs.82000 crores in Govt. Bonds.).
For giving a boost to the growing animation sector in India, the Information and Broadcasting Ministry is planning setting up a joint task force with members of industry bodies.
This task force will help face the challenges of high set-up and production costs, talent shortage and lack of intellectual property protection which daunts the animation industry. The job of the task force will be to forward a roadmap for clearance to the Finance Ministry after consulting and finalizing it with all the stakeholders of the animation industry.
Read moreGovernment contemplates a task force for giving boost to animation industry
Domestic demand continues to accelerate as evidenced by a slew of macro and micro indicators from the PMI, credit growth to auto
sales and infrastructure build-out. With demand remaining strong, we think core inflation will likely remain elevated through
FY11, and maintain our above-consensus inflation forecast of 7.5%. This would prompt further action by the Reserve Bank of India to
withdraw accommodation.