Economic News Presentation

8/7/2019 Economic News Presentation

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ECONOMIC NEWSFrom 21st jan to

29

th

jan11


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Submitted to :-

Submitted by :-

Mr. Chanchal soni

Deepali

NeeleshKirtiRajesh

Dev

(CAPTAIN)

(VICE-CAPTAIN)


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India and Indonesia, seeking to taketheir partnership to the next level,have agreed to begin negotiations for

concluding a Comprehensive EconomicCooperation Agreement (CECA) andset a bilateral trade target of $25

billion by 2015 against $11 billion lastfiscal.


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Chinas GDP grows 10.3% in 2010


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US ECONOMY GROWING BUT NOT FASTENOUGH:- OBAMA

INDIAS FOREX RESERVES RISE $3.4 BILLION.

The foreign currency assets, the biggest component of the forex

reserves kitty, rose by $3.30 billion to $267.86 billion during theweek under review from $264.56 billion in the previous week,according to the weekly statistical supplement of the ReserveBank of India (RBI)


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TARGET FOR DIRECT ,INDIRECT TAXCOLLECTIONS TO BE RAISED.

Direct Tax:- 4% ^

Indirect Tax :- 6% ^

RBI ALMOST CERTAIN TO RAISE REPO RATEBY 150BPS TO 6.25% AND BORROWING RATE

BY 200BPS TO 5-25% THROUGH SIX RATEINCREASE.


8/16

New telecome policy to makelicencing norm tougher.

NEW DELHI: Government on Saturday said its new telecom policyto be unveiled soon will tighten the norms for grant of licences

and airwaves to service providers in a bid to induce transparencyand provide a level-playing field to new and existing players.

Inflation likely to say highhurting growth.

The Reserve bank today said that demand-supply mismatch and risingglobal commodity prices would continue to put pressure on inflation,which could hurt the economic growth. "Persistent high inflation couldendanger the growth objective and also amplify risks to inclusive growth,containing inflation will have to be the Special Correspondent Structuralrigidities from supply-side need to be addressed


9/16

RBI sees economic growthmoderating 2011-2012.

The Reserve Bank of India on Tuesday said India's economicgrowth rate will moderate in the next financial year, even

as it retained the forecast for the current fiscal at 8.5 percent with an upward bias.

Coal ministry note down

phased mining plan. NEW DELHI: The coal ministry has rejected the PlanningCommissions suggestion to allow phased extraction of coal fromprohibited areas saying that the robust demand for coal fromexpanding steelmakers and power generators fast outpaces theplan to mine in stages.


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FM may extent tax holidayfor it exporters.

NEW DELHI: Finance minister PranabMukherjee could give in to industrydemand and extend tax benefits available

to software and merchandise exportsunder the special schemes by anotheryear.


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People have to bear burden of oilprice rise.

Finance Minister Pranab Mukherjee on Friday said theburden of oil price rise will have to be borne at leastpartly by the people as oil marketing companies were

unable to sell at earlier rates as global crude oil had gotcostlier. "Oil marketing companies cannot make moneyfrom heaven.

For now invest in bank-end infra,

sharma tells wal-mart, tescoIndia has told global retail chains like Wal-Mart and Tescothat they should invest in the back -end infrastructure,even as the issue of opening multi-brand retailing toforeign direct investments (FDI) is under ''active

consideration'' by the government


12/16

Global silver sprit or from globalcase

Copper surges on hopes of USgrowth.

Copper inventories declined 1,114 tonneto 129,250 tonne, based on a survey of

eight warehouses, the Shanghai exchangesaid on its website


13/16

Heli Taxi services launched in Himachal

SHIMLA: Himachal Pradesh Chief Minister PremKumar Dhumal has launched the much-awaitedHeli Taxi services to cater to high-end tourists

He said that due to invisibility of broad gaugerailway lines and absence of regular air services,the Heli Taxi Service would attract foreign as

well as domestic tourists, who are keen to visithitherto unexplored and lesser-knowndestinations through 56 helipads


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Banks face 4billion

blow in PPI mis-sellingscandal.

Banks could be forced to reopen tens ofthousands of mis-selling complaint cases overpayment protection insurance and pay

compensation of more than 4billion following alegal investigation

Even consumers who have never complainedabout the sale of a policy with a loan or a

mortgage could find themselves being contactedby their provider and offered compensation


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