Indian Economy

Projections for cut in key rates by RBI; no change likely in repo rate, reverse repo rate, CRR

Projections for cut in key rates by RBI; no change likely in repo rate, reverse repo rate, CRRAccording to anticipations of the investment banking firm Barclays Capital, it is likely that the impending annual credit policy of the Reserve Bank of India (RBI) may result in the slashing of the key rates by up to 50 basis points. An almost similar opinion has been expressed by the HDFC Bank, which, however, said that it projects a 25-basis-points cut in RBI's policy rates.

ArcelorMittal's Orissa, Jharkhand steel projects delayed by two years

Arcelor-MittalThe LN Mittal-controlled company, ArcelorMittal, is reportedly holding up its $20-25 billion proposed steel projects in Orissa and Jharkhand, largely because of the global economic crisis that has weakened demand for steel. As such, the world's biggest steelmaker's pending payment to the state government, for a 1,500-acre land earmarked for the proposed facility, will also be delayed.

WCG VP Shivaram says: Gold is ideally the best investment alternative!

World-Gold-CouncilIn the opinion of the World Gold Council (WCG) Vice-President, K Shivaram, gold is one of the safest ways to secure savings, more so in the current murky economic scenario. Gold is ideally the best investment alternative because, the equity market crash notwithstanding, it still managed to give over 28 percent returns of late!

Noting that the value of gold has never plunged to unexpected lows, Shivaram said that the recent slump in gold prices is transitory. He expects the gold prices to soar as its supply from the mines is dropping, and countries like China and Russia are adding to their quantum of gold reserves.

CII report: Expecting high level of FDI into India amid recession “unrealistic”

CII report: Expecting high level of FDI into India amid recession “unrealistic” In a recent Confederation of Indian Industries (CII) report titled 'Global Economic Crisis: India's Recovery,' the industry body has said that it would be quite "unrealistic" to expect a high level of Foreign Direct Investment (FDI) into India in the face of the ongoing global economic crisis. As such, the CII anticipates that amid recession the Foreign Institutional Investor (FII) investments would be almost negligible.

FICCI emphasizes need to revamp tourism; suggest a 13-point action program

FICCI emphasizes need to revamp tourism; suggest a 13-point action programEmphasizing that “Firming up a visa strategy is of utmost importance,” the industry body FICCI has said that in order to achieve the 10-million foreign tourists’ target prior to the 2010 Commonwealth Games, the Indian tourism sector needs to focus on an easy visa strategy, tourists’ security and infrastructural improvements.

SIAM projects industrial revival this fiscal; automakers apprehensive

Automobile ManufacturersThough the Society of Indian Automobile Manufacturers (SIAM) anticipates a revival of the industry this fiscal and accelerated growth in 2010, automobile manufacturers are apprehensive about the same.

Pages