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Economy News

Discussion in 'World Economy' started by Indian_Idol, Jun 2, 2010.

  1. Indx TechStyle

    Indx TechStyle Lieutenant FULL MEMBER

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    India’s exports up 2.2% in November, gold imports rise 23%[​IMG]India’s positive exports have come at a time when Chinese exports increased in November, albeit marginally, after declining for seven consecutive months aided by both domestic and global demand.
    [​IMG]
    GOLD, JEWELLERY
     
  2. Sathya

    Sathya Lieutenant FULL MEMBER

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    Hi can anyone post, year by year performance of government in as exhaustive as possible please.. ( preferably from previous UPA 2 ATLEAST)

    we can also add up and monitor every year, it ll be good education for everyone.

    thanks

    @randomradio & @ Economy Specialists
     
  3. Indx TechStyle

    Indx TechStyle Lieutenant FULL MEMBER

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    HDR 2016 will be enough.:D
     
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  4. randomradio

    randomradio Mod Staff Member MODERATOR

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    This year's economic report will not be good because of the demonetization. The effects may last up to the first or even second quarter of next FY.
     
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  5. Sathya

    Sathya Lieutenant FULL MEMBER

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    We can set parameters ..
    Tabulate and monitor year by year. .
    If we got more members interested ,
    We can do state wise too..
     
  6. Indx TechStyle

    Indx TechStyle Lieutenant FULL MEMBER

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    Demonetization may cause deflation in short term, it can help to increase it in long term as the more black economy gets documented into formal economy.
     
  7. Ghanta

    Ghanta FULL MEMBER

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    But the government should remove 500 and 2000 rs from circulation by 2020. Else the prices will skyrocket.
     
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  8. Schwifty

    Schwifty 2nd Lieutant FULL MEMBER

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  9. IndoBot

    IndoBot FULL MEMBER

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    Mumbai India's richest city, 2 Kolkata localities among most affluent: New World Wealth report

    • Mumbai is India’s richest city with total wealth around $820 billion, 46,000 millionaires and 28 billionaires
    • Surat is now the fastest growing city in India in terms of GDP growth, followed by Ahmedabad
    • India recorded the second highest growth in overall wealth between the years 2015-16 - almost 12%
    NEW DELHI: Two Kolkata localities - Ballygunge and Alipore have emerged as among the most affluent in India.

    The New World Wealth report which was announced on Tuesday and looked at wealth migration trends in 2016 have done an extensive study of Indian cities and found that the total wealth held in Kolkata amounts to nearly $290 billion.

    The organisation that has compiled the data - New World Wealth in South Africa revealed to TOI that Kolkata has more millionaires than Bangalore, Hyderabad, Pune, Chennai or Gurgaon.

    While the City of Joy is home to 9600 millionaires, Hyderabad boasts of 9000 such high net worth individuals, Bangalore 7700, Pune 4500, Gurgaon 4000 and Chennai 6600 millionaires.

    However when it comes to billionaires, the city falls behind as it records only four such individuals along with Chennai.

    Bangalore on the other hand has eight billionaires, Hyderabad six and Pune five.

    Gurgaon has only two billionaires.

    Bangalore's total wealth is also higher than Kolkata - $320 billion while Hyderabad has $310 billion.

    The total wealth held in Pune has been found to be $180 billion while that in Chennai is $150 billion. The wealth in Gurgaon is around $110 billion.

    "Kolkata is the main commercial hub of East India. The major industries in the city include manufacturing, basic materials, pharmaceuticals and food processing," the report says.

    Mumbai still continues to be India's richest city with its total wealth expected to be around $820 billion. The city is home to 46,000 millionaires and 28 billionaires.

    Delhi stands second with wealth worth $450 billion. It is also home to 23,000 millionaires and 18 billionaires.

    Officials who collated the data however allayed fears of wealth migration from India and told TOI in an interview "The outflow of high net worth individuals (HNWIs) from India is not particularly concerning as India is still producing far more new millionaires than they are losing. Also, once the standard of living in India improves, we expect several wealthy people to move back".

    India's total wealth has been pinned at $6.2 trillion (as of December 2016). It is home to 264,000 millionaires and 95 billionaires in total.

    Interestingly Gujarati cities Surat, Vadodra and Ahmedabad have emerged as the top cities of growth in wealth.

    Surat is now the fastest growing city in India (in terms of GDP growth) followed by Ahmedabad which the report says is home to the major sectors like basic materials (cotton), manufacturing (textiles, automobiles), IT and healthcare (pharmaceuticals).

    The other cities which recorded the highest GDP growth since 2015 are Goa which is also home to a large number of wealthy retirees, Chandigarh and Jaipur.

    An internal assessment of India's richest suburbs shows that the most amount of wealth in Mumbai is held with people living in Bandra, Juhu, Goregaon, Parel, Worli and Palm Beach Road. In Delhi, the most expensive suburbs are Westend Greens, Dera Mandi, Greater Kailash and Lutyens.

    Hyderabad's Jubilee Hills and Banjara Hills are right on top of the wealth curve while for Bangalore it is Indiranagar and Sadashivanagar.

    Chennai's Boat Club Road and Poes Garden while Gurgaon's Golf Course Road are the most expensive localities of the respective cities.

    India now the sixth richest country in the world worth $6200 billion - much richer that European giants like France and Italy and also Australia and Canada.

    India recorded the second highest growth in overall wealth between the years 2015-16 - almost 12% while China's wealth during this time increased by 10%, US 5% and Japan 6%.

    UK's wealth growth fell by 5%, France's fell by 10, Italy's by 10% and Germany by 6%.

    Globally, as many as 82,000 millionaires (HNWIs) migrated in 2016, compared to just 64,000 in 2015 with Australia becoming the biggest gainers.

    An estimated 11,000 millionaires moved to Australia in 2016 - the highest such inflow in any country compared to 10,000 that moved to the US and 3,000 that moved to the UK.

    This is the second straight year that Australia has benefitted from wealth migration. Experts say the main reason for this could be that Australia has one of the best healthcare systems in the world. In the UK, the NHS is deteriorating, whilst in the US the mandated healthcare insurance (Affordable Care Act enacted in 2010) has not turned out well for wealthy and middle class patients.




    Australia's location makes it a good base for doing business in emerging Asian countries such as China, Hong Kong, Korea, Singapore, Vietnam and India.




    The report says "Australia is also relatively immune to the turmoil in the Middle East and the related refugee crisis in Europe. Australia is a good base for wealthy retired yacht owners who wish to sail the South Pacific Islands while the country also has lower inheritance taxes than the US and much lower inheritance taxes than the UK".




    France was one of the biggest losers with recent terrorist attacks and political turmoil. The large outflow of millionaires from France (over 12,000 millionaires is 2016) is notable - France is being heavily impacted by rising religious tensions between Christians and Muslims, especially in urban areas.




    "We expect that millionaire migration away from France will accelerate over the next decade as these tensions escalate. In our view, other European countries where religious tensions are starting to emerge such as Belgium, Germany, Austria, the UK, Holland and Sweden will also be negatively affected in the near future. Of further concern, since 2000, France has experienced a net outflow of over 60,000 millionaires. Around 6,000 left in 2014, 10,000 left in 2015 and 12,000 left in 2016. This shows that wealth migration away from the country is accelerating," the report says.

    http://timesofindia.indiatimes.com/...-world-wealth-report/articleshow/57273267.cms
     
  10. lca-fan

    lca-fan Captain FULL MEMBER

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    http://www.business-standard.com/ar...arply-in-q3-on-redemption-117021500045_1.html

    FCNR-B deposit pool shrinks sharply in Q3 on redemption

    The deposits stood at $20.85 bn in December 2016 from $44.11 bn at the end of September 2016


    The large-scale redemption of Foreign Currency Non-Resident Banks-deposits (FCNR-B) in the quarter ended December 2016 sharply brought down the tally of total deposits by non-resident Indians (NRIs) to $109.7 billion from $130.02 billion in the previous quarter.

    The FCNR-B deposits stood at $20.85 billion in December 2016, against $44.11 billion at the end of September 2016, according to Reserve Bank of India data.

    The outflow also impacted the business — deposits plus advances — of banks in the third quarter of 2016-17. The country’s largest lender, State Bank of India, reported a 64.2 per cent drop in such deposits in 12 months from Rs 18,470 crore in December 2015 to Rs 6,609 crore at the end of December 2016.

    Bank of Baroda said in the third quarter there were repayments of FCNR-B deposits of more than Rs 11,500 crore mobilised during the third quarter of 2013-14.

    The rundown in local credit by its international branches in December 2016 was due to repayments of loans against FCNR(B) deposits.

    Banks had raised nearly $34 billion between September and November 2013. Of the $34 billion, $27 billion was through FCNR (B) deposits, maturing mostly in three years. These were raised in 2013 to bolster India's foreign exchange reserves and contain the volatility of the rupee. Banks had swapped those dollars for rupees with RBI. The central bank, thereafter, bought forward-currency contracts.

    On September 4, 2013, RBI had announced a window for swapping FCNR (B) dollar funds, mobilised for a period of at least three years, at a fixed rate of 3.5 per cent a year for the duration of the deposit.

    http://www.indiainfoline.com/articl...marginally-by-361-million-117021800161_1.html
     
  11. bharathp

    bharathp Developers Guild Developers -IT and R&D

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    23% increase in gold imports corresponds nicely to the demonetization drive where many people flocked to buy Gold as a way to stash the black money.
     
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  12. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    India’s population in 2050: extreme projections demand extreme actions
    5 April 2013
    Author: Ranjit Goswami, IMT, Nagpur

    In 2050 India’s population is projected to be 1.69 billion — China’s will be 1.31 billion.



    India has experienced extraordinary population growth: between 2001 and 2011 India added 181 million people to the world, slightly less than the entire population of Brazil. But 76 per cent of India’s population lives on less than US$2 per day (at purchasing power parity rates). India ranks at the bottom of the pyramid in per capita-level consumption indicators not only in energy or electricity but in almost all other relevant per capita-level consumption indicators, despite high rates of growth in the last decade.

    Much of India’s population increase has occurred among the poorest socio-economic percentile. Relatively socio-economically advanced Indian states had a fertility rate of less than 2.1 in 2009 — less than the level needed to maintain a stable population following infant mortality standards in developed nations. But in poorer states like Bihar, fertility rates were nearer to 4.0.

    Does this growth mean India can rely on the demographic dividendto spur development? This phenomenon, which refers to the period in which a large proportion of a country’s population is of working age, is said to have accounted for between one-fourth and two-fifths of East Asia’s ‘economic miracle’ as observed late last century.

    But India is not East Asia. Its population density is almost three times the average in East Asia and more than eight times the world average of 45 people per square kilometre. If India has anywhere near 1.69 billion people in 2050, it will have more than 500 people per square kilometre. Besides, in terms of infrastructure development India currently is nowhere near where East Asian nations were before their boom. In terms of soft to hard infrastructure, spanning education, healthcare, roads, electricity, housing, employment growth and more, India is visibly strained.

    For example, India has an installed energy capacity of little more than 200 gigawatts; China has more than 1000 gigawatts and aims to generate 600 gigawatts of clean electricity by 2020. To make matters worse, many of the newly installed power stations in India face an acute shortage of coal, and future supply is not guaranteed. China mines close to four billion tonnes of coal per year, which has a negative effect on both local and global air quality. At some stage, it is probably inevitable that India will need much greater capacity than its present rate of mining 600 million tonnes of coal per year, which is also causing local and global pollution levels to rise — parts of India face air quality problems similar to those in China. On oil, India imports close to 80 per cent of its crude oil requirements, while it also runs an unsustainable current account deficit of more than 5 per cent of its GDP, and reserves for new energy sources like shale gas do not look promising either.

    India’s food supply is in an even worse position. As a member of India’s Planning Commission put it,we have a problem and it can be starkly put in the following way: around 2004–2005, our per capita food grains production was back to the 1970s level. In 2005–07, the average Indian consumed only 2,300 calories per day — below the defined poverty line in rural areas of 2,400 calories a day. The trend in recent years is for Indians to eat even less.

    So, for India, treating lightly Malthusian predictions about food supply until 2050 or beyond may not be prudent. Worldwide food prices have been on the rise to unforeseen levels, and India too has been suffering from high food inflation.

    Finally, even if India manages to feed its burgeoning population, its growth may not be ecologically sustainable. The global demand for water in 2050 is projected to be more than 50 per cent of what it was in 2000, and demand for food will double. On average, a thousand tons of water is required to produce one ton of food grains. It’s not surprising, then, that international disputes about water have increasingly been replicated among states in India, where the Supreme Court is frequently asked to intervene.

    So have the policy responses been proportional to the gravity of the demographic, ecological and developmental problems facing India?

    The probable answer is that policy makers have failed miserably on all measurable counts. If one compares India to China this becomes clear. While China’s one-child policy has been criticised as against human dignity and rights — and there is no denying that such measures should be avoided as far as possible — the history of human civilization teaches us that extreme situations call for extreme actions. There will be ample time for multiple schools to have their post-mortems on the success and failure of the one-child policy, but it has helped China to control its population by a possible 400 million people.

    The US Census Bureau estimated in 2010 that China will hit its peak population of 1.4 billion in around 2026. China’s fertility rate has been lower than the replacement rate for more than two decades now. That means the one-child policy will have taken nearly 40 years to stabilise or reverse China’s population trend. How long will India take to get to that stage?

    There is a distinct possibility of irreversible and unsustainable population growth and big question marks remain over how India will provide nearly 1.7 billion people with their basic minimum demands. In this environment to raise an alarm that turns out to be false is better than relying on comfortable slogans like the demographic dividend. The longer India delays acknowledging the severity of these problems and dealing with them head on, the graver the consequences are likely to be.

    Ranjit Goswami is Dean (Academics) at the Institute of Management Technology, Nagpur.
     
  13. Ripcord322

    Ripcord322 Lieutenant FULL MEMBER

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    We need a burst of good double digit growth...7-8 % is not sufficient for a growing economy in its prime....We need more.

    And More importantly is taking people somehow out of the BPL trap... Doing that will be a challenge....

    Even to give them a basic job will atleast require training them in certain skill..These are not just a few million people but a lot more....We need to skill or educate atleast one member of a BPL family....


    For a 1.25B population country....Human Resources can be a 'heavenly asset' or a 'liability from hell'.... Nothing in between I guess.
     
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  14. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    Both USA and India as well as most of the rest of the world, need a more equal distribution of wealth.
     
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  15. Picdelamirand-oil

    Picdelamirand-oil Lt. Colonel MILITARY STRATEGIST

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    No problems, in 2050 India global gross domestic product by purchasing power parity will be $44.128 trillion. It helps to solve all these problems!

    5. Brazil — $7.540 trillion.

    4. Indonesia — $10.502 trillion.

    3. United States — $34.102 trillion.

    2. India — $44.128 trillion.

    1. China — $58.499 trillion.

    http://www.independent.co.uk/news/b...rld-by-2050-a7587401.html?cmpid=facebook-post
     
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