Amid decelerating manufacturing growth, the Reserve Bank wants the government to come out with measures in the Budget to give a boost to the sector, which can employ surplus labour from agriculture.
High deposit rates may put pressure on teaser home loan rates
The revised bill will give statutory powers to interim regulator Pension Fund Regulatory and Development Authority to make it on par with other financial regulators -- Securities and Exchange Board of India, Reserve Bank of India and IRDA.
Divestment of public sector companies gathered steam in the first year of UPA-II that saw two PSUs-- Oil India and NHPC-- raising around Rs 8,600 crore (Rs 86 billion) from IPOs and the way was cleared for divestment in three more state-run power companies in the new year.
India has attracted investment worth $1.6 billion for projects in the fields of power, steel, construction and engineering special economic zones from Japanese companies.
The Hinduja Group chairman, who was in Davos to participate in the World Economic Forum, however, noted that the incident might not have much impact on the reputation of India Inc in the eyes of foreigners, who are more used to such scams. Raju's confession not only shocked India Inc, but investors all over the world. Such type of wrongdoings are more prevalent in the western world and foreigners are used to this kind of happenings, Hinduja said.
India has exuded optimism that it would continue to maintain economic growth rate of 7-7.5 per cent next fiscal, the same level it is expected to register in the current fiscal, even as its neighbour China termed its lower growth projection of 8 per cent in 2009 as a tall order.
Under attack from the international community for not reining in terrorist outfits, Pakistan on Thursday said that it will not allow use of its territory for terror activities."I assure you and I assure the House that I will never ever allow my soil, Pakistani soil to be used for terror activities," Pakistan Prime Minister Yousuf Raza Gilani said at the World Economic Forum in Davos.Terming the Mumbai incident as 'unfortunate', Gilani said, "We condemn terrorism."
India continued to be on a high growth path in 2007, although the pace was slightly moderated due to curbs on money supply to check inflation.
Though SEBI adopted many other measures in 2007 to streamline the capital markets, it was its decision on P-notes, which gave a jolt to the capital market and evoked extreme reactions both in favour and against the move.
I agree with the Tarapore report on fuller capital account convertibility except for the time frame set.
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