Tuesday, 20 October 2015

VRITTAM ( 14 Oct 2015 - 20 Oct 2015)

Employment increases by 5.21 lakh in FY15; 64,000 in Jan-Mar 

Employment in 8 sectors including IT/BPO, automobiles, gems & jewellery and textile rose by 5.21 lakh last fiscal, said a government report.

IndiGo scrapes the bottom of the barrel; investors fume

The fact that InterGlobe Aviation’s decision to more or less empty its coffers ahead of its IPO hasn’t gone down well with investors

S&P keeps India’s rating at BBB-, rules out upgrade for now

The agency retained India’s rating at BBB- with stable outlook and expressed hope that country’s economic growth would average about 8% during 2015-18 period

How government's LED bulb push is helping save Rs 2.71 crore every day 

A staggering 68 lakh kilowatts of energy is saved every day. This includes a cut in 645 megawatts of power during peak hours, a 5,520-tonne drop in daily carbon emission and domestic savings of Rs 2.71 crore every day.

Around The World

Wall Street falls as Morgan Stanley results disappoint 

S&P 500 companies are expected to show a 3.9 per cent fall in third-quarter profit, according to Thomson Reuters data


Who should get government welfare benefits?

A data interactive shows the state-level picture if govt makes the recently released numbers on economic wellbeing the basis of who it includes and excludes


Five startups trying to solve India's urban commuting problem

Tuesday, 13 October 2015

VRITTAM ( 6th OCT 2015-13th OCT 2015)

IIP grows at 6.4% in August; inflation quickens to 4.41% in September 

India’s factory output and retail inflation accelerated in Aug and Sep, respectively, indicating gradual economic recovery and building pricing pressures

How it went down at Bank of Baroda 

The transfer took place under a rule that allows up to $100,000 in transfers as prepayment for imports, says a senior official at the bank

With big brands like Cafe Coffee Day and IndiGo lining up their public offers, the IPO market is set for a four-year record performance this year as close to Rs 6,600 crore has already been raised and plans are afoot for garnering another Rs 20,000 crore. 

At a time when public investment is sorely needed to crowd in reluctant private investment, it is welcome to note that the Railways is rising to the challenge. 

Around The World
More than 10,000 startup firms are being set up everyday in China as part of new reforms initiated by the Chinese government to halt the slide of the economy.

Angus Deaton wins 2015 Nobel prize in economics

Scottish economist Angus Deaton has won the Nobel memorial prize in economic sciences for “his analysis of consumption, poverty, and welfare,” the Royal Swedish Academy of Sciences said on Monday.


Dealing with poorly drafted laws

Most Bills are drafted in a hurry, with inadequate consultation with stakeholders, and insufficient examination by the law ministry


Five entrepreneurs who failed on the way

Monday, 5 October 2015

VRITTAM (28 September 2015 - 5 October 2015)

Germany Pledges billions for India's Growth

India and Germany on Monday agreed to enhance ties in key areas of defence manufacturing, trade, intelligence and clean energy during wide-ranging talks between Prime Minister Narendra Modi and German Chancellor Angela Merkel after which 18 MoUs were inked. 

India cuts interest rates more than expected as RBI "front-loads"

The Reserve Bank of India (RBI) cut its policy interest rate to a 4-1/2 year low of 6.75 percent on Tuesday, in a bigger-than-expected move that, with inflation running at record lows, could help turn around an economy that has been slowing down.

Seven-month low manufacturing PMI supports Rajan’s rate cut call

The Nikkei India Manufacturing Purchasing Managers’ Index for September, which at 51.2 came in at a seven-month low, indicates a sharp deterioration in manufacturing momentum and underlines the fragility of the industrial recovery in the country. A reading above 50 denotes expansion.

Fitch lowers India GDP growth forecast to 7.5% for 2015-16

Fitch Ratings has lowered India's GDP growth estimate for the current fiscal to 7.5 per cent from 7.8 per cent on average monsoon but said the country is poised to grow at 8 per cent next fiscal on reform push. 

Govt gets black money disclosures totalling Rs3,770 crore

The Indian government’s much-hyped black money compliance window saw a tepid response with less than Rs.4,000 crore of undisclosed foreign assets being declared at the close of the three-month compliance window.

Shares of automobile manufacturers, consumer-oriented companies, and agriculture-related firms, whose prospects are partly tied to rural consumers, could slip as a below-average monsoon this year may hurt their quarterly earnings, said analysts. 

India announces plan to slow rate of greenhouse gas growth

India has promised to shave a third off the rate at which it emits greenhouse gases over the next 15 years, in a long-awaited contribution towards reaching a deal to slow global warming at a U.N. climate summit in December.

Around The World

The number of new applications for U.S. jobless benefits rose modestly last week and a gauge of the trend in claims fell, pointing to ongoing tightening in the labor market that could push the Federal Reserve to raise interest rates.


Why attempts by individual central banks to boost growth and inflation via currency depreciation have been collectively self-defeating .

Perils of excessive speculation

The speculative character of the equity markets breeds distrust among potential first-time investors


Friday, 4 September 2015

VRITTAM(24 Aug 2015- 30 Aug 2015)


Manufacturing sector growth improves in August: SEBI

The country's manufacturing sector growth improved both in terms of month-on-month as well as yearly basis in August, an SBI research report said, adding that mining and electricity are still acting as a drag on the economic activity.

 India Sign Pact to Lay Oil Pipeline to Nepal

India today signed an agreement to lay an oil pipeline from Raxaul in Bihar to Amlekhgunj in
Nepal to supply petrol, diesel and ATF to the land-locked Himalayan Kingdom.

Oil Plunges 6% to over 6-yearslow on China Concern

London: Oil prices fell more than 6 per cent to fresh 6-1/2-year lows on Monday as markets worried about a China-led global economic slowdown that would drastically hit oil consumption at a time of plentiful supply.

Forex Reserves Jump $1 Billion to $354 Billion After 2 Weeks of Dips

Mumbai: After declining for two straight weeks, the foreign exchange reserves rose by a healthy $1.086 billion to touch $354.433 billion for the week to August 14, led by an increase in foreign currency assets.

 drastically hit oil consumption at a time of plentiful supply.

 India Inc's Overseas Investment Dips 32% at $1.23 Billion in July

Mumbai: Total investments by Indian firms overseas fell by 32 per cent to $1.23 billion in July this year over the same month last year, according to the Reserve Bank of India (RBI) data released today.

Moody's Cuts India's FY16 Growth Forecast to 7%

Mumbai: Moody's Investors Service cut its forecast for India's economic growth to around 7 per cent this fiscal year (2015-16) from 7.5 per cent because of lower-than-expected rainfall in the ongoing monsoon season, the ratings agency said on Tuesday

US firm to make ACs in Gurgaon, invest 325 crore

NEW YORK/GURGAON: The Haryana government has signed a deal with leading US-based AC manufacturer, United Technologies, to invest $50 million (Rs 325 crore) in Gurgaon providing direct employment to more than 2,000 people


Currency Devalution Raises Question On China's Strength: Rajan

Mumbai: Terming devaluation of currencies as a "worrisome trend", Reserve Bank of India Governor Raghuram Rajan on Thursday said China's move to devalue its currency and to protect its stock markets raises questions about the 'true strength' of the world's second largest economy


Tuesday, 25 August 2015

VRITTAM(18 Aug 2015- 24 Aug 2015)

The BSE Sensex slumped 1,625 points or nearly 6 per cent on 24th August - marking its biggest percentage fall since 2009. In terms of absolute value, it was the third worst day for Sensex. The rupee sank to a fresh two-year low of 66.74 per dollar. The selloff in markets was triggered by a global meltdown in risk assets.
An expected slowdown in China's economy and the devaluation of its yuan currency are reasons for worry, Finance Minister ArunJaitley said on Monday after a collapse in Chinese stocks caused a global selloff.

India will raise about 93.79 billion rupees ($1.4 billion) from selling a stake in state-run refiner and fuel retailer Indian Oil Corp, even as a global stock market rout raised concerns about future offerings.
India gets its first private bank in 11 years with Finance Minister ArunJaitley inaugurating Bandhan Bank as a full-fledged sche commercial bank, ushering in a new era in country's financial sector, which will now see innovation taking the centrestage to reach out to the unbanked population.

Paving the way for revolutionising cashless payments services in the country, the Reserve Bank of India granted payment bank licences to 11 firms.
This includes telecom companies Vodafone and Airtel; non-banking financial company Cholamandalam Distribution Services Ltd; large conglomerates Reliance Industries and Aditya Birla Nuvo; and individuals Vijay Shekhar Sharma, founder of Paytm, and DilipShanghvi, Managing Director.
Ola, India’s largest cab hailing service, announced that Ola Money can now be used as a wallet to pay for services on other e-commerce platforms.

year ago, Consumer Price Index (CPI) inflation had re-accelerated to 7.4% and real questions were being asked if more rate increases were needed to hit the 8% inflation target for January 2015. Six per cent seemed unthinkable.
In economies that are experiencing a youth bulge, entrepreneurs could be the key to what seems like an intractable global problem of growing youth unemployment.