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  1. #1
    Lord Of The Ring
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    India's economy

    Power crisis: India faces a shortage of 17,000 MW


    New Delhi: It's peak summer in most parts of India. Demand for power is at a peak of 2,17,000 mega watt. Our power generation, however, is much less at 1,99,877 mega watt. Poor transmission and distribution makes it even worse.
    Many cities such as Chennai, Bangalore and the capital itself, Delhi, have long power cuts.
    Forty per cent of the country does not get electricity at all. About six lakh villages do not have any network to receive electricity.
    CNN-IBN has learnt that around 30 power stations have just about a week's coal left to fuel the power plants.
    Coal India which supplies coal to 80 per cent of India's power plants has a shortage of 142 million tonnes. The reason they say is lack of enviornmental clearances and land acquisition problems. However, coal shortage is not the only reason for the summer sweat.
    KC Venugopal, MoS Power, says, "It is not remarkable. It does not have much significance. Only about 1-1.5 per cent generation is impacted due to coal shortage. We are planning for huge capacity addition in future. AT&C losses (aggregate technical and commercial losses) are there. Lack of transmission lines... Southern India is not connected to rest of the national grids."
    Glitches in the electricity supply chain have made problems worse. Coal supply is not only short but expensive too for these power plants. Equipment at some power plants are old and faulty. Transmission systems are too old to take the required load. Distribution bottlenecks are equally stifling. This requires huge network of cables, conductors and transformers. Change in power tariffs is the need of the hour, power utilities are not putting more money in infrastructure development.
    Ramesh Narayanan, Chief Executive Officer of the BSES Yamuna Power Ltd, says, "The main problem for the shortage is there is a lag in the distribution infrastructure development. The distribution infrastructure in the whole country has not kept pace with a development on the generation side. Even if you may have electricity available from the generators but the power does not reach the end consumer because the infrastructure for distributing that power is not given."
    PMO's recent intervention pushing coal companies to sign supply agreements has shown no significance. In fact, the government is piling on problems by overlooking the worsening financial health of power distribution companies which are a vital part of power supply chain. It's high time the government worked on all levels of power generation to save the nation from a complete blackout soon
    .
    http://ibnlive.in.com/news/power-cri.../269122-3.html
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    Senior Moderator Superkaif's Avatar
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    Their seems to be a major power shortage in our regions....nuclear may be the way to go?
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    Administrator Aryan_B's Avatar
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    How come Pakistan's shortcomings in this area seem to be highlighted all over the place yet India which has similar is swept under the carpet
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    Even after civilian nuclear deal-- shame on indians-
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    Senior Moderator Superkaif's Avatar
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    Quote Originally Posted by JonAsad View Post
    Even after civilian nuclear deal-- shame on indians-
    Yes - i remember how they were sniggering at our shortages and they forgot about the situation on their own doorstep - so incredible....
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    Administrator Aryan_B's Avatar
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    We need on both sides of the border for our leaders to sort out these issues. I am sure the likes of Zardari have light and ac's
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    Forum Administrator bilalhaider's Avatar
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    India's economy

    Please post all stuff related to India's economy on this sticky thread. Spamming/trolling will not be tolerated, and will be punished accordingly.
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    Indian economy to grow at slowest pace in 10 years

    Indian economy to grow at slowest pace in 10 years

    Reuters | Jul 22, 2012, 10.38AM ISTBANGALORE:

    India's economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a Reuters poll showed.

    Even as growth falters, the rupee has been hitting all-time lows against the dollar, the government is struggling with bloated fiscal and current account deficits and inflation has remained stubbornly high, giving policymakers less room to manoeuvre.

    Gross domestic product in India is now expected to grow 6.3 per cent during the fiscal year 2012/2013 and by 7.0 per cent next fiscal, down from 7.1 per cent and 8.0 per cent, respectively, expected in the last survey in April.


    Growth of 6.3 per cent would be slackest pace of expansion for Asia's third-largest economy since 2002-2003, when it grew 4.0 per cent.

    Growth predictions for India have now been slashed in six consecutive quarterly polls. All of the 17 analysts who contributed to this survey and the last downgraded their growth forecasts for this fiscal year and next.

    The International Monetary Fund also sharply downgraded growth estimates for India to 6.1 per cent this fiscal year and 6.5 per cent in the next.

    India's weakening outlook, along with softening in China, means any global recovery from the present economic slump will not be driven strongly by these two emerging economies - unlike after the financial crisis of 2008 when they saw nearly double-digit growth rates.

    "Immediately after the global financial crisis India grew very rapidly but that recovery was to a very large extent propelled by domestic stimulus, both monetary and fiscal," said Leif Eskesen, economist at HSBC.

    "Monetary policy has tightened subsequently and that has to some extent spilled over to growth and slowed it down."

    However, while the latest poll showed China's downtrend likely bottomed out in the last quarter, India's economy may still be losing steam.

    The Reserve Bank of India hiked interest rates from 5.00 per cent in early 2010 to 8.50 per cent by the end of 2011 as it tried in vain to bring down racing inflation, slowly denting domestic demand.

    New Delhi's slow pace of implementing structural reforms to removed supply-side bottlenecks has also weighed on growth.

    "A gradual pick-up in implementation of structural reforms will provide impetus to growth next year. It will also have a positive spillover effect for domestic and foreign investor sentiment," Eskesen added.

    "But since we can't expect significant reforms before the general elections and because these reforms take time to implement and pay off, we probably have to wait for a few more years before we're back to growth above 8 per cent."

    No date has been set for the next general election, although many expect it will fall around May 2014.

    The central bank stunned financial markets in June by not cutting rates to revive flagging growth.

    Economists still believe it will have to reduce rates in coming months, though many have postponed the timing of the next move. They now expect the central bank to keep the repo rate unchanged at 8.00 per cent this quarter, before cutting it to 7.50 per cent between October and December.

    The RBI's hawkish stance on inflation could mean further delays in rate cuts, especially after it indicated at the June meeting that the burden is on the government to revive growth.

    It surprised markets by cutting its policy rate in April by a steep 50 basis points, but has shied away since then from doing anything more, mainly because price pressures have remained strong.

    The wholesale price index is expected to rise by 7.4 per cent in this fiscal year, according to the poll, well above the central bank's commonly perceived comfort level of around 5 per cent and up from 7.0 per cent seen in the last poll.

    "If growth slows, with inflation moderately high -- like in recent months -- the central bank will not feel compelled to take any drastic steps," said Andrew Kenningham, economist at Capital Economics.

    "They're quite rightly saying that the ball is in the court of the government to take all the actions needed to generate faster growth."

    http://timesofindia.indiatimes.com/b...w/15089061.cms

  9. #9
    Senior Member Neo's Avatar
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    India could become net sugar importer as early as 2013-14, bolster prices

    MUMBAI: India, the world’s largest consumer of sugar, is likely to become a net importer of the sweetener as early as 2013/14, as drought-hit farmers replace cane with less water-intensive crops.

    The shift to imports, touted by market participants and analysts, would likely bolster global sugar prices, which have been hammered by surplus production at a time of muted growth in consumption due to a sluggish global economy.

    India, the world’s No.2 sugar producer after Brazil, last imported the sweetener in 2009/10, sending global prices to 30-year highs.

    “Farmers in (top sugar-producing Indian state) Maharashtra are very interested in cane, but water is not available,” said Balasaheb Patil, former president of the Maharashtra Co-operative Sugar Factories Federation.

    “In some areas farmers are walking miles and miles just to get drinking water ... forget cultivating crops.”

    India has been blighted by its first drought in three years, with monsoon rains likely to be less than 90 percent of the long-term average and with the rainfall deficit in some cane-growing areas as high as 30 percent. That has dealt a blow to Asia’s third-largest economy, where more than half the farmland lacks irrigation.

    The full force of the impact from farmers switching to crops such as soybeans and wheat, which need less water to cultivate than sugar cane, is likely to hit in the 2013/14 season as cane usually takes 12-18 months to mature.

    India’s sugar year starts on Oct. 1 when fields dry after the monsoon and crushing of the cane crop traditionally starts.

    Politics could also be a factor in boosting imports in the sugar-loving country, where people celebrate festivals with a vast range of sweets from cashew burfi to juicy rasgullas.

    Analysts say that a 10 percent duty imposed on imports in July this year to protect local sugar millers, who were struggling to pay farmers cane arrears, could be scrapped in the run-up to a general election slated for 2014.

    “The 2013/14 season partially falls in an election year. Keeping (local) food prices lower will be the government’s first priority ... obviously it will remove import duty,” said a senior industry official in Mumbai, who declined to be named.

    Indian white sugar is currently quoted at more than $70 per tonne over global prices, but imports have been limited by the 10 percent duty.

    They will become viable the moment India scraps the tax, said Kamal Jain, managing director of sugar brokerage Kamal Jain Trading Services.

    Key October sugar futures in India were down 0.38 percent at 3,634 rupees ($65.31) per 100 kg at 0829 GMT on Wednesday, after hitting a contract high of 3,701 rupees last month, helped by festive demand.

    Rollover: Poor rainfall in the country’s top five cane producing states will trim yields in 2012/13, with consultancy Kingsman SA last week cutting its estimate for India’s total sugar output in that season to 24.25 million tonnes from 25.5 million tonnes. Local demand is usually pegged at around 22 million tonnes.

    “Although the monsoon rains in India have picked up in the second half of August, large cane areas in central Maharashtra have been damaged beyond recovery,” Kingsman analysts wrote in a report.

    Others were even more pessimistic as more than 8 million tonnes of cane has been diverted to be used as fodder in Maharashtra, with the drought also hitting fodder supplies.

    “The way sugar output in Maharashtra is expected to go down, I think India can produce around 23 million tonnes in 2012/13,” said an official at a leading private sugar miller in India.

    Any drop will roll over into the next season as it will ultimately bring down opening stocks for 2013/14, said Ashok Jain, president of the Bombay Sugar Merchants Association.

    “In 2013/14 pressure will remain on supplies due to lower carry forward stocks and thin output. Then prices are likely to rise significantly,” he said.

    A lack of water is also likely to push farmers away from second harvests grown from the stubs of cane roots, known as ratoon. Indian cane growers typically take one ratoon crop as they give equally good yields, while the cost of production remains lower than the first year.

    “We can see many farmers uprooting cane after first harvest in 2012/13. They may not go for ratoon due to water scarcity,” said former industry body head Patil. “This will slash cane supplies in the 2013/14 season.” reuters

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    Senior Member Neo's Avatar
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    Mid-tier IT companies grow faster than biggies

    Mini Joseph Tejaswi, TNN | Sep 6, 2012

    BANGALORE: This may come as a surprise. Mid-tier Indian IT firms have been doing as well or better than their top-tier counterparts in recent times. Normally in a downturn, the mid-tier segment tends to be more adversely impacted because customers who are still able to spend on IT prefer the safety of the more established players. But that's not the case now. In fact, the only exception in recent times was the global recession year of 2009-10, when mid-tier firms performed worse than top-tier ones.

    Companies like KPIT Cummins, eClerx, MindTree, Persistent Systems, Polaris, Infotech, InfoEdge, Geometric, NIIT Tech, CMC and Zensar had revenue growth rates that were well over 20% in each of the last two years - 2010-11 and 2011-12. Among the best of these were KPIT Cummins, with growth rates of 46% and 38%; eClerx with 37% and 29%; and Zensar with 25% and 46%. In the first quarter of this year, KPIT Cummins' revenue grew 88% to Rs 538.3 crore, Hexaware's grew 37.6% to Rs 438.3 crore and Persistent Systems' grew 34% to Rs 301 crore.

    There are several reasons for these blazing performances. Broking firm Edelweiss Securities says a major factor is the repositioning of mid-tier firms as more specialized players since the last downturn. Hexaware and NIIT Tech focused a lot more on the travel and transportation domains, Persistent Systems specialized in outsourced product development, MindTree in manufacturing and KPIT Cummins in automotive.

    Mid-tier IT companies grow faster than biggies - The Times of India
    Great spirits have always found violent opposition from mediocre minds. - Albert Einstein

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    Senior Member Neo's Avatar
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    Rupee hits 3-week low on fall in shares, euro

    Reuters | Sep 5, 2012

    MUMBAI: The rupee dipped to its lowest level in three weeks on Wednesday, weighed down by losses in domestic stocks and the euro, on skepticism about the European Central Bank's ability to unveil a concrete plan to help debt-laden euro zone economies.

    The euro had been rallying on hopes of some concrete steps from the ECB after its meeting on Thursday, but closer to the date investors grew cautious and preferred to cut back on their long positions on the single currency.

    A bout of risk aversion was seen across regional share markets as investors traded nervously ahead of the ECB meeting and the U.S. jobs report.

    "Market is skeptical of the ECB's bond-buying plan, but any positive move from (ECB President) Draghi will help risk sentiment," said Vikas Babu Chittiprolu, a foreign exchange dealer with state-run Andhra Bank.

    "There was oil demand also seen today along with the risk aversion globally, which hurt the rupee," he added.

    Oil refiners are the largest buyers of dollars in the domestic currency market.

    The partially convertible rupee closed at 55.9050/9150 per dollar, 0.46 percent weaker than its close of 55.65/66 on Tuesday. The unit dropped to as low as 55.9575 during the day, its weakest since August 16.

    The euro dropped on the back of growing scepticism among investors but losses were limited as some still bet the ECB would announce details of a bond-buying programme to lower Spanish and Italian borrowing costs.

    Traders said dollar sales by exporters around 55.95 levels helped the rupee recover some ground. However, a fall below that level was likely this week if the ECB disappoints, they added.

    The one-month onshore forward premium dropped to 34.25 bps versus its previous close of 36.25, while the one-year premium eased slightly to 335.50 bps against 337.75 bps on Tuesday.

    The one-month offshore non-deliverable forwards were at 56.27, while the three-month was at 56.90, reflecting a bearish near-term outlook.

    Traders said the rupee was likely to hold in a 55.75 to 56.25 band on Thursday, the ECB meeting outcome being the key.

    In the currency futures market, the most-traded near-month dollar/rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange all closed at around 56.12 with a total traded volume at around $3.08 billion.

    Rupee hits 3-week low on fall in shares, euro - The Times of India
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    Senior Member Neo's Avatar
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    Walmart Stores to snap ties with companies involved in corrupt practices

    NEW DELHI: Walmart Stores plans to snap ties with companies that supply products to its stores if they are involved in any kind of corrupt practices, making it the first retail company to undertake such a stringent initiative in India.

    Stung by the bribery scandal that surfaced recently in Mexico, the world's largest retailer has recently hired consultancy firm KPMG to conduct due diligence on hundreds of existing vendors as well as potential future suppliers to ensure that they are not involved in any unethical or illegal activity.

    Bharti Walmart, the equal wholesale retailing joint venture between the US retail chain and New Delhi-based Bharti Enterprises, sources supplies from vendors ranging from multinationals such as Hindustan Unilever and Colgate Palmolive to hundreds of small and medium enterprises.

    As companies in India, like in Mexico, are susceptible to pay bribes at various levels to get reams of licences required to start and operate businesses, Walmart wants to make sure they do business with only those vendors who don't indulge in such activities.

    This is second such anti-corruption initiative launched by Walmart in India in recent months. Earlier, as reported by ET, the world's number one retailer mandated KPMG to educate and create awareness among the Bharti Walmart's staff about anti-corruption practices.

    As an American multinational, Walmart is bound to abide by the Foreign Corrupt Practices Act (FCPA), a US law that prohibits companies registered in that country and its subsidiaries across the globe from indulging in any sort of corrupt practices.

    A company spokesperson said this move was part of its "previously announced" worldwide review of its anti-corruption programme that was initiated in March 2011. "This includes developing and implementing recommendations for FCPA training, anti-corruption safeguards, and internal controls," said the spokesman.

    The latest initiatives by Bharti Walmart are the direct fallout of the bribery scandal in Mexico, a person with the direct knowledge of the situation said.

    Earlier this year, a scandal surfaced in Walmart's Mexico unit accused the subsidiary of bribing government officials in almost all the provinces in that country where the Bentonville-based retailer has operations. The US Justice Department has started its own probe against Walmart over the allegations of the systematic bribery to obtain licences in Mexico.

    In India, KPMG will scrutinise the vendors and classify them in three categories of red, amber and green, the person quoted above said asking not to be named. Bharti Walmart will continue to do business with vendors rated 'green" by KPMG while it will immediately snap ties with retailers rated 'red'. It will be Bharti Walmart's choice to engage with vendors that are placed in the 'amber' category by KPMG.

    Walmart Stores to snap ties with companies involved in corrupt practices - The Times of India
    Great spirits have always found violent opposition from mediocre minds. - Albert Einstein

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    Senior Member Neo's Avatar
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    Faster reforms can push growth to 9%: Adi Godrej
    TNN | Sep 6, 2012

    NEW DELHI: Fast tracking implementation of reform measures can help India achieve the 9% growth target, even as the government has slowed down on decision-making due to difficulties with the coalition and the opposition parties, CII president Adi Godrej said on Wednesday.

    "Clearly, decision making has been slow. However, reform measures should be taken forward. Else, we might get into further difficulties in terms of rating agencies, perception (of economy), and in terms of investors shying away," Godrej said. With Indian economy registering the slowest growth rate of 5.5% in nine years in the first quarter of 2012-13, Godrej said reform measures such as opening up of FDI in sectors like multi-brand retail and aviation and implementation of the goods and services tax ( GST) will help put growth back on track.

    "GST would add 1.5-2% to India's GDP and is one of the most important reform measures in the country," Godrej added. On the political logjam over the allocation of captive coal blocks, Godrej said cancellation of allocations would have an adverse impact on business sentiments in the country. Any coal block allocation where due process has not been followed should be reviewed and appropriate action should be taken in accordance with the law, he said.

    For reining in rising fiscal deficit, Godrej suggested that the government should rationalize diesel subsidies and proceed with disinvestments, as there is an urgent need for funding. Targets for disinvestment are low and should be much more, he said. tnn

    Faster reforms can push growth to 9%: Adi Godrej - The Times of India
    Great spirits have always found violent opposition from mediocre minds. - Albert Einstein

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    Senior Member Neo's Avatar
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    India's economy grows at 5.5% in April-June quarter
    Reuters | Aug 31, 2012

    NEW DELHI: India's economy grew at a higher-than-expected 5.5 percent in the quarter ending June, against analysts' forecast of 5.3 percent, government data showed on Friday.

    The manufacturing sector grew an annual 0.2 percent during the quarter, while farm output rose 2.9 percent, the data showed. Economic growth was at 5.3 percent in the quarter ending March.

    Economic growth in Asia's third-largest economy slipped to 6.5 percent in 2011/12 fiscal year ending in March from an annual rate of 8.4 percent in the two previous fiscal years.

    India's economy grows at 5.5% in April-June quarter - The Times of India
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    Finance Ministry to pitch global rating firms on India's domestic economy

    NEW DELHI: The finance ministry will pitch India's strength as a largely domestic economy, renew its commitment to fiscal rectitude and showcase recent measures to lift sentiment to try and convince global rating firms not to downgrade the country's sovereign rating.

    Finance ministry officials, who expect rating agencies to come calling soon as part of their customary review of the economy, are readying a detailed fact-file of achievements to present to these firms, one of which - Standard & Poor's - has already threatened a downgrade.

    "Rating agencies usually sound us out at this point in the year," a ministry official said, adding that a plan to engage with them was taking shape under Finance Minister P Chidambaram.

    The plan will include a list of India's inherent economic strengths, measures being taken to revive the economy and those in the pipeline, said the official who did not wish to be named.

    A rating cut, besides hitting sentiment vis-a-vis India, could affect investment flows into the country and push up the borrowing costs for Indian companies raising debt overseas.

    Chidambaram, who has the onerous task of putting the economy back on rails after a steep fall in growth rates, has already listed improving the investment climate, containing inflation and getting back to fiscal consolidation with urgency as his priority areas since taking charge as finance minister last month.

    The latest encounter with the rating firms, if it happens now, will take place against a backdrop of large-scale cuts in India's growth estimates by independent analysts, some of them to around 5 per cent, a level not seen in nearly a decade.

    The political scene is in turmoil, key economic indicators are depressed, the mood in the markets cautious, and commentary about the economy largely despondent.

    Some analysts have already warned that a credit rating cut is imminent, unless the government takes drastic remedial steps.

    S&P had in April cut its outlook on India's sovereign rating to negative, citing poor fundamentals, and held out a threat of downgrading the country to junk status from investment grade rating of BBB- in its next review. Its peer Fitch Ratings had followed up with a similar cut in June.

    Asked whether a downgrade was imminent, an S&P spokesman said: "We published our views on India's sovereign rating in late April 2012 followed by additional reports in June. As with all of Standard & Poor's ratings, we will update our views when we see the need for it."

    Besides showcasing the economy's inherent strengths and explaining the present problems as a blip, the ministry will point out the steps being taken to stimulate investments and improve sentiment, another government official said. The official said the government would also highlight its willingness to listen to suggestions by experts - the Parthasarathi Shome panel and Kelkar committee - on vital course corrections in policies as proof of its commitment to reform and attract investments.

    Finance Ministry to pitch global rating firms on India's domestic economy - The Economic Times
    Great spirits have always found violent opposition from mediocre minds. - Albert Einstein

  16. #16
    Senior Member ManojKumar's Avatar
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    The changes in climate are getting really worrying. Their seems to be extraordinary levels of rain every year and global warming is having its effect too. Naturally the farmers must look at a crop that is manageable in the new conditions nature has gifted us
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    India likely to miss 2012-13 deficit target, borrow more

    MUMBAI/BANGALORE: India will likely borrow an additional 500 billion rupees ($9.34 billion) for the year ending in March and miss its fiscal deficit target, a Reuters poll showed, raising doubt about the fiscal discipline of a country whose credit ratings are under threat.

    India’s fiscal deficit is expected to rise to 5.8 percent of gross domestic product (GDP), higher than the government’s target of 5.1 percent of GDP given in March, according to the poll of 24 economists taken over the past week.

    Estimates for the government’s additional borrowing for the second half of the fiscal year which started in April ranged between 150 billion to 750 billion rupees. India is set to unveil its borrowing plans for October-March this week, although the government may delay announcing needing extra borrowing to avoid upsetting markets, and stick to its current target for now, analysts said.

    But eventually, the government would have to announce extra borrowing, according to analysts tracking the trajectory of government spending and revenues. “The market is not expecting any hike immediately. If 500 billion rupees of extra borrowing is announced now, yields may spike by 10-15 basis points,” said the chief executive at a primary dealership.

    The federal government and the central bank will meet sometime this week to set its borrowing programme for October-March, in what will be keenly watched by the bond markets and rating agencies for signs of fiscal slippage. Although major reforms this month, including a hike in subsidised diesel prices, have been cheered by markets, investors remain worried about fiscal discipline.

    The government had earlier set its borrowing target for October-March at 2 trillion rupees, as part of its plans to raise 5.7 trillion rupees for the full fiscal year. However, four months into the year, India’s deficit has already hit 51.5 percent of the full year target, making it likely the government will have to resort to more borrowing.

    That is because the government is unlikely to cut spending, especially as it heads to general elections in 2014, while the economy has slowed to a three-year low, denting tax revenues. reuters

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    Administrator Aryan_B's Avatar
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    I wonder about the accuracy of some of these official govt figures

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    Panasonic to make India a manufacturing hub

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    Customers at a campaign organised by Panasonic in Hyderabad

    NEW DELHI, SEPT 30:
    Japanese consumer electronics major Panasonic will start exports of home appliances from India as part of plans to make the country a manufacturing hub and the first shipment is likely by 2014-15.

    The company’s production in India will get a boost with the commissioning of the $200 million facility at Jhajjar in Haryana by December this year.

    “We will focus on India as a manufacturing base. We are seriously considering to start exports from India and at present studying various markets around the world that are suitable for products manufactured here,” Panasonic India Vice President and Board Member Yutaka Suzuki told PTI.

    Once the company operationalises and commissions the upcoming Jhajjar plant, it will consider expanding the reach of its products to other countries as well, he added.

    “We are looking for similar markets like Africa and Middle East. We have not finalised the products that will be exported, but it is likely to start with air conditioners and washing machines,” Suzuki said.

    He declined to specify any timeframe for commencing exports from India.

    However, a source close to the development said the company will take some time to meet the requirement of Indian market and shipment for other nations “will begin by the end of 2014-15 financial year”.

    Last week, Panasonic India Managing Director (Global Consumer Marketing Sector) Manish Sharma had said the company is looking to locally produce all home appliances by 2015 that are sold in India.

    After the Jhajjar plant gets operationalised by December this year, it will start with production with air-conditioners and washing machines. Within one year, the company plans to roll out refrigerators and microwaves from there.

    The production capacity of air conditioners will be 10 lakh units annually, while for washing machines it will be three lakh units.

    Panasonic India currently manufactures LCD panels at its Noida facility and automatic rice cookers at its Chennai plant. The Noida plant has a capacity of six lakh units per annum and it will be expanded to 10 lakh units next year, Sharma had said.

    Besides, the company is looking to produce plasma and large TV sets, which are imported from Thailand, in India by 2015, he had said.
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  20. #20
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    This is good news will increase job opportunities for Indians.
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