Govt speeds up PSUs stake sale

India's cabinet approved a plan to speed up the sale of stakes in state-owned companies as the government aims to make nationalised companies more responsive to markets as well as cutting the fiscal deficit.

The cabinet will allow state-run companies to appoint investment bankers and other intermediaries at the same time as they seek cabinet approval for stake sales, allowing IPOs to proceed more quickly when market conditions allow.

Previously companies had to wait for cabinet approval before moving ahead with preparations, causing delays that have already sparked problems with valuations as market dip.

BRIC economies growth predictions 2010 - 11

China, India, Brazil and Russia are powering ahead, the Organisation for Economic Cooperation and Development said on Wednesday, revising upwards its growth outlook for all four largest emerging economies.

With the expected rebound of agricultural output in India, growth should be strong in the near term while inflationary pressures would also remain high amid strong outlook for demand.

Russia should use windfall oil revenues to eliminate fiscal deficits more quickly but if oil prices and capital inflows continue to increase rapidly the country would face another boom-and-bust cycle.

In Brazil, infrastructure investment will help lift growth again despite tighter monetary policies and the beginning of spending cuts

World's top 10 reputed companies 2010

Following are the top 10 most reputed companies of the world as according to survey by the reputation institute.

RANK	COMPANY NAME
1	GOOGLE Inc
2	SONY CORPORATION
3	WALT DISNEY COMPANY
4	Bavarian Motor Works(BMW)
5	Mercedes-Benz
6	Apple Inc
7	Nokia
8	IKEA
9	Volkswagen
10	Intel

Investment proposals worth 1400 crore passed

The government cleared 24 foreign investment proposals, including those of media company Asianet and broadcasting firm Tata Sky, worth Rs.1,412 crore.

Asianet's proposal worth Rs.425 crore is on induction of foreign equity to undertake the business of broadcasting non-news and current affairs television channels.

Indian black money and IPL

Well Indian Premier league is just over so i wanted to write on it . As this time i thought the IPL was indirectly related to Indian economy or atleast with the black money which is as large as the legal value of indian economy.

So why was the whole episode of suspending lalit Modi created.?

The obvious reason for that was he brought name of Shashi Tharoor and her so called friend sunanda(oops i forgot to keep the 's' capital) in the eyes of the common men. people now obviously think that the black money which our politicians make from corruption, smuggling, trafficking etc have been properly invested by them in bringing the IPL teams. Prafull (he is full of money) Patel himself might be related (although these alligations have been ruled out by the puppets for NCP)......i mean people of BCCI.

The reason of indian government beginning to go after Lalit Modi is very obvious! that is - you have made one of our most public politician to resign so you have no right to come in front of public too.....(being the IPL chairman). Lalit Modi himself is tremendous businessman and turned this business venture of IPL into profit in the very first year.

The other reason is that the ruling politicians have not got their share of the black money and they are crying...sob sob. There are no proper papers of the deals and after some masala news, News channels have got their share for keeping their mouth shut from now on....!!

It's sad to say that we live in a country being run by ignorant goons!! It's only the hardwork of the people which is keeping our economy on growth path.

Another funny thing from this whole IPL episode was that the minister's use public money for their own pleasures... (example being the Poorna Patel episode). and a false clarification from AI on the whole episode.

God Bless India

Economy of India to grow at 8.3 percent

Assuming a normal monsoon, we expect GDP growth to surge 8.3 per cent during the financial year 2010-11, driven by robust industrial growth and resilient performance of the service sector," D&B said in a report.

Besides, it said that rise in consumption demand is likely to contribute majorly to the economic growth and help augment investments.

Healthy income levels on account of faster pace of job creation as well as broadening of tax slabs -- as proposed in this year's Union Budget -- will create higher disposable income with consumers, driving up demand.

Banks move to Mutual funds as loan applications dip

(posted under - Indian Economy, Mutual funds investing) - According to the latest RBI figures, the first week of April has seen a dip in outstanding loans. Total bank loans as on April 9 stood at Rs 32,41,255 crore, up Rs 1,167 crore over the previous fortnight’s levels. However, outstanding loans were marginally lower than the Rs 32,43,175-crore loans outstanding on end March 2010. The second half of March saw bank loans growing by over Rs 1,00,000 crore — a feat which banking sources say was achieved only by banks window dressing their books.

Banks have invested an additional Rs 50,016 crore during the fortnight ended April 9, taking their total MF exposure to Rs 1,05,519 crore. This is despite the central bank asking lenders to cut down exposure to mutual funds. Foreign exchange reserves were flat at $280 billion during the week-ended April 16, largely on account of revaluation of non-dollar assets.

Govt to infuse 15000 cr into public sector banks - nice move

(posted under PSU banks, banking sector news)- just headrd that the government on Friday approved a plan to infuse Rs 15,000 crore capital into state-run banks in the current fiscal to boost their lending capacity. looks like a nice move if whole amount is infused without anything taken by politicians from it.

The proposed infusion will increase the lending capacity of the banks by Rs 1,85,000 crore. This additional availability of credit is likely to benefit employment oriented sectors, especially agriculture, micro and small enterprises and entrepreneurs that in turn would contribute substantially to the growth of the economy.

Indian Share Markets closes in red | SENSEX | NIFTY closing rates

(posted under - BSE stocks, NSE stocks, SENSEX closing) - Major indian stock indices closed in red as profit booking lowered the indices.

Bombay Stock Exchange’s Sensex ended at 16780.46, down 79.22 points or 0.47 per cent. The index touched an intra-day low of 16705.56 and high of 16877.77.

National Stock Exchange’s Nifty closed at 5007.90, down 28.10 points or 0.56 per cent. The broader index touched a low of 4983.05 and high of 5035.70.

The BSE Midcap Index was down 1.30 per cent and BSE Smallcap Index fell 0.90 per cent.

Amongst the sectoral indices, BSE Realty Index was down 2.88 per cent, BSE Auto Index fell 2.14 per cent and BSE Metal Index declined 1.52 per cent. BSE FMCG Index was up 1.14 per cent and BSE Capital Goods Index advanced 0.42 per cent.