Indian rupee at 2 week low thanks to FII for taking out USD from indian markets

Indian National Rupee or poupularly known as INR touched two week low today at 48.88 / US $ since foreign investor's took out much investment which they made in indian markets over past couple of months due to which SENSEX ans Nifty also closed down today(read full report).

The details about the weak rupee is as follows (ovser past 2 days) :

The partially convertible rupee ended at 48.88/89 per dollar, 0.9 per cent below Tuesday's close of 48.45/46 per dollar. It is down 2 per cent so far this week. It hit a low of 48.9450 in intraday deals.

One-month offshore non-deliverable forwards were quoting at 48.97/49.07 per dollar in late Indian trade.

The dollar was steady while the yen climbed on Wednesday as uncertainty about the global economic outlook reined in investor risk-taking.

According to barclay's indian rupee will trade between 48.5 to 49.5 against a single US dollar.

INR falls 39 paise against US $

Indian rupee closed above the crucial 48 level against the dollar for the first time in five weeks in tandem with a sharp slide in local stocks, raising fears of capital outflow from equity.

Resuming lower at 47.84/85 a dollar, the domestic unit later moved in a range of 48.16 and 47.81 before ending the day at 48.13/14 against the dollar, cheaper by 39 paise from its last close of 47.74/75 a dollar.

Dealers at the Interbank Foreign Exchange (forex) market said continued capital outflows in the week weighed on rupee sentiment.

Foreign institutional investors pulled out nearly USD 193.60 million in the last two days. They were believed to be heavy sellers in equity today.

The Indian benchmark Sensex plunged by 435 points or 2.91 per cent following dramatic sell-off by foreign funds.

Meanwhile, the dollar, which was buoyant in the overseas market in the last few days, was little changed against the basket of currencies.

Rs 1 Lakh cheque is no longer 'high value'

(13/5/09 Indian rupee updates) - One lakh rupees is no longer considered 'high value' in banking parlance. Until recently, a cheque amounting to over a lakh was considered high value and would be swiftly cleared on the same day itself, if deposited before 11 am. Now that a lakh is no longer what it used to be, although it can still buy you a car, the Reserve Bank of India has raised the bar.

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As of May 2, a cheque will have to be above Rs 5 lakh, and after August 1, above Rs 10 lakh for it to qualify as 'high value'. From November 1, there will be no high value clearing. For same-day clearance, banks are advising their customers to fill in a special form and use RTGF (Real Time Gross Settlement) or NEFT (National Electronic Funds Transfer).

"The idea is to facilitate easier transactions by getting into electronic clearing," says a RBI spokesperson. "Earlier, we made the transfer of amounts over Rs 1 crore mandatory through electronic clearing. We are gradually moving towards all transactions being cleared electronically."

Indian Inc's overseas investment slips 11 percent - RBI

(23/4 Indian Economy updates -the slowdown effect) - Facing the pangs of slowdown, India Inc appears to have restrained from overseas mergers and acquisitions as the country's foreign investment slipped by over 11 per cent during April-December 2008, says Reserve Bank.

"During the first nine months of 2008-09, 2,828 proposals amounting to $16,352 million were cleared for investments abroad in JVs (joint ventures) and WOSs (wholly owned subsidiaries), as against 1,595 proposals amounting to $18,437 million during the corresponding period of the previous year," the central bank said in its April Bulletin.

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Even though the number of proposals recorded an increase of 77.3 per cent, amount invested by India Inc on overseas ventures dipped by over 11 per cent during the period.

There were a total of 2,828 proposals during the first nine months of 2008-09 against 1,595 proposals in the corresponding period previous year.

"During the quarter, October-December 2008, proposals amounting to $7,409 million were cleared for investments abroad in JVs and WOSs, as against $7,882 million during October-December 2007, the RBI said.

posted under - RBI updates, economic updates, economy of india, indian economy slowdown, slowing economy, asian economies, indian rupee, economy of india

Rs v/s US $ - Daily updates

Indian National rupee popularly known as INR in international market is following a downward trend due to global financial turbulance. As volume of US dollars (USD) in international markets is on a decline so the value of US $ is growing up, well indian IT industrycan feel better to some extent and is the only industry which would be getting a plus from current market scenario.

The post would include (US$ v/$ rupee) daily trends the rate shown of Indian rupee would be as displayed at time of stock markets closure(mainly BSE and NSE) you can also see daily Stock market live rates and closing rates.

INR(Indian National rupee) v/s US$ October trends/updates are as follows:

format for display of rs v/s $ would be in following order:
(date | RS v/s $ | rate | Daily trends updates)


(October 31,2008) | RS v/s $ | 49.77 | Down(-49.77)


(October 30,2008) | RS v/s $ | 49.67 | Up^0.21


(October 29,2008) | RS v/s $ | 50.09 | Down(-0.14)


(October 27,2008) | RS v/s $ | 49.95 | Down(-0.16)

Govt may relax foreign investment norms in banking, telecom

Government is considering relaxing norms for foreign investment in sectors like banking and telecom by treating portfolio FII investment outside the sectoral cap.

At present, foreign direct investment (FDI) and foreign institutional investments (FII) are added to determine sectoral foreign investment cap in banking, credit information companies, broadcasting, commodity exchanges and telecom.

also read - How US economic recession occured

But, with RBI allowing FIIs to acquire shares in companies under the Portfolio Investment Scheme (PIS), the government is now likely to mandate that sectoral caps would henceforth be for FDI investment only, official sources said.

In sectors with caps, the balance equity would specifically be beneficially owned by/held with/in the hands of resident Indian citizens and Indian companies, owned and controlled by resident Indian citizens.

FIIs investing under PIS shall not seek a representation on the board of directors and they will have to give a self- declaration whenever they act in concert with any of the companies that they have invested in.

also read - Why Global economy is fluctuating

Sources said investments by registered FIIs under PIS are made under Schedule 2 of the Foreign Exchange Management Regulations and are distinct from FDIs which are made under Schedule 1. FIIs are also permitted to make investments under FDI Scheme under Schedule-1.

PIS cannot cross 24 per cent in any company. At present, banking and telecom have 74 per cent foreign investment cap (FDI plus FII), which would, after the policy is accepted by the Cabinet, be changed to 74 per cent FDI.

also read - Fall of US fnancial Institutions

Similarly, 20 per cent FDI plus FII limit in FM radio would now be 20 per cent FDI cap, while 49 per cent FDI plus FII in cable network, direct-to-home commodity exchange and CIC would be changed accordingly.

Rupee posts biggest fall in a decade v/s US $

The rupee posted its biggest fall in a decade on Tuesday, hit by risk aversion and banks arbitraging a weaker offshore rate, although suspected central bank intervention stopped the slide just short of 47 per dollar.

The partially convertible rupee ended at 46.89/90 per dollar, off a trough of 46.99 which was its lowest since July 24, 2006.

The rupee fell 1.8 percent from its close of 46.05/06 on Monday, its biggest fall since May 14, 1998, according to Reuters daya, when the currency fell 2 percent after sanctions were imposed on India for its nuclear testing. One-month offshore non-deliverable forward contracts were quoting at 47.15/25, weaker than the onshore rate, indicating a bearish near-term outlook for the rupee.

That also created an arbitrage opportunity, where the dollar is bought against the rupee in the onshore market and sold in the offshore NDF market to exploit the price differential. "There are no (dollar) sellers in the market apart from the central bank. There is lot of oil, equity and NDF-related dollar demand, and even importers are covering near-term imports," said Madhusudan Somani, associate director of financial markets at Yes Bank.

"The rupee may test 47.20-25 levels in the near term," he added. Dealers said the central bank was seen selling dollars to halt the rupee's sharp decline, but sales were offset by demand for the US currency. At its low on Tuesday, the rupee was down 6.5 percent in September and more than 16 percent in 2008. Dealers estimated the central bank had sold $1.5-$2 billion to put a floor under the rupee on Tuesday.

Indian shares pulled out from a nosedive to end almost level on Tuesday after they had opened down 3.5 percent. Capital outflows from the local shares so far in 2008 total a net $8.4 billion, including $1 billion in September, a sharp turnaround from a record net inflows of $17.4 billion in 2007.

Traders said broad strength in the dollar versus other currencies overseas was also hurting sentiment on the rupee. The dollar steadied near 4-month lows versus the yen on Tuesday, but held gains against high yielders as investors took refuge in safe-haven assets following the collapse of Lehman Brothers.

Indian Economy Updates Rs v/s $ daily trends - March 2008

Daily rupee trends against US $ month wise (at stock market closing time):

31/3/2008:(Rs v/s US $) 40.11 - (Up^0.04) - with respect to 28/3/2008 rate

28/3/2008:(Rs v/s US $) 40.15 - (Down -0.08)

27/3/2008:(Rs v/s US $) 40.07 - (Up^0.05)

26/3/2008:(Rs v/s US $) 40.12 - (Up^0.22)

25/3/2008:( Rs v/s US $) 40.34 - (Down -0.05)

24/3/2008:( Rs v/s US $) 40.29 - (Up^0.16)

19/3/2008:( Rs v/s US $) 40.62 - (Up^0.15)

18/3/2008:( Rs v/s US $) 40.77 - (Down -0.32)

17/3/2008:( Rs v/s US $) 40.45 - (Up^0.01)

RS v/s Dollar February 2008 trends

Day/Date/Conversion Price(1 dollar in INR)/Remarks: (All enteries would be in same sequence respectively):
FRIDAY/29-2-2008/39.81 - Down(-0.08) (at stock market closing)

THURSDAY/28-2-2008/39.73 - Up^0.18 (at stock market closing)

WEDNESDAY/27-2-2008/39.91 - Up^0.14 (at stock market closing)

TUESDAY/26-2-2008/40.05 - Down(-0.07) (at stock market closing)

MONDAY/25-2-2008/39.98 - Up^0.09 (at stock market closing time)

FRIDAY/22-2-2008/40.07 - Up^0.07 (at stock market closing time)

THURSDAY/21-2-2008/40.15 - Down(-0.28) (at stock market closing time)

WEDNESDAY/20-2-2008/39.87 - Down(-0.21) (at stock market closing time)

TUESDAY/19-2-2008/39.66 - No Change (at stock market closing time)

MONDAY/18-2-2008/39.66 - Down(-0.01) (at stock market closing time)

FRIDAY/15-2-2008/39.65 - Up^0.03 (at stock market closing time)

THURSDAY/14-2-2008/39.68 - Down(-0.03) (at stock Market closing time)

WEDNESDAY/13-2-2008/39.65 - Up^0.08 (at 4:33 pm IST)

TUESDAY/12-2-2008/39.73 - Down(-0.18) (at stock market closing time)

MONDAY/11-2-2008/39.55 - Down(-0.07) (at stock market closing time)

FRIDAY/8-2-2008/39.48 - Up^0.12 (at stock market cloosing time)

THRUSDAY/7-2-2008/39.60 - Up^0.23 (at stock market closing time)

WEDNESDAY/6-2-2008/39.43 - Up^0.40 (at stock market closing time)

TUESDAY/5-2-2008/ 39.83 - Down(-0.47) (at stock market closing time)

US Economy Slowdown and it's effects on Indian Economy

A string of foreign banks hit by the crisis have started selling down Indian papers in the overseas market at distressed rates. In some cases, banks have refused to honour credit lines they had earlier promised. But even as corporates are reeling under the increased financing costs for their deals, some Indian banks are picking up these papers at distressed rates.One of the assets, which a few foreign banks are in a haste to sell down, is the Hindalco bridge loan, which the company had taken to acquire the Canadian firm Novelis.

Banks, which gave the loan at 61 bps above Libor, are now in the market to sell it at Libor plus 150-180 bps. Banks want to offload papers before December 31 to free their capital. Such loans, primarily for acquisition financing, are given directly by the banks, with an internal understanding that the assets would be palmed off over the next two to three months. However, because of the sub prime crisis, many of these banks were unable to get any buyer for the Indian papers. This has resulted in banks offering to sell these papers at a cheaper price. Banks have country limits and also client limits. Some banks have exceeded these limits and due to the liquidity crunch are finding it difficult to sell down these assets to other foreign banks. This has given a few Indian banks the opportunity to buy these papers.

Significantly, most foreign banks are not adding to their asset book in order to keep capital free. According to sources, a large US bank has stopped issuing letters of credit to Indian customers. It has also stopped disbursing loans to new customers. Bank officials have been told to postpone disbursals till the New Year. The urgency to prune corporate loans emanate from similar capital concerns. A couple of other corporate loans have also been sold off in the past couple of months at 15-25 bps discounts. Recently, in a deal where an Indian chemical firm was taking over an US company, the foreign bank backed out of the financing deal at the last moment. The deal was finally financed by another foreign bank.

A major US bank and a couple of European banks are said to be have been affected by the crisis. According to senior bankers, Indian banks, like ICICI Bank and SBI, have been picking up papers issued by Indian companies. A few Taiwanese and Middle East banks have also been buying these papers. However, ICICI Bank which did large dollar borrowing this year has committed new loans of around $2 billion in the past one month. Corporates are also facing the heat as borrowing costs have doubled in the past few months. Bankers point out that in many transactions, Indian corporates have now started asking Indian banks to be in the deal as they feel that some foreign banks may back out if credit woes deepen.

Source: economic times

General Union Finance Budget 2008-09

General budget for the next financial year is just a month away and already finance minister is busy with meeting all the top corporate houses and would want to make them happy and tax payers would be skeptical about the union budget.
Many questions and obstacles are in the way for continuing with the same growth rate next year.

And it looks like the finance minister is in no mood to cut the tax rates. However more emphasis would still be given to agricultural sector as always which is shattering day by day.

so what do you all feel about the general budget for 2008-09 . post your comments about what you want and what a normal middle class individual want from this budget.

However RBI has not changed any of the interest rates which has dissappointed the banks but finance minister replied to media persons that there is enough liquidity in the market and banks should encourage more loans. However a borrower should prepare himself to pay higher interest rates on the loans they get from bank.

Rupee v/s Dollar January 2008 Trends

Day/Date/Conversion Price(1 dollar in INR)/Remarks: (All enteries would be in same sequence respectively):

THURSDAY/31-01-2008/39.43/ Down 0.03 ( at 5:42 pm IST)

WEDNESDAY/30-01-2008/39.40/ Up^0.07 ( at 8:31 pm IST)

TUESDAY/29-01-2008/39.47/ Down 0.07 (at stock market close)

MONDAY/28-01-2008/39.40/ Up^0.03 (at stock market closing time)

26-01-2008, 27-01-2008 (Markets closed saturday and sunday resp.)

FRIDAY/25-01-2008/39.43/ Up^0.13 (at stock market closing time)

THURSDAY/24-01-2008/39.56/ Down 0.18 (at stock market closing time)

WEDNESDAY/23-01-2008/39.38/ No Change (at stock market closing time)

TUESDAY/22-01-2008/39.38/ Down 0.11 (at stock market closing time)

MONDAY/21-01-2008/39.27/ up ^0.02 (at stock market closing time)

FRIDAY/18-01-2008/39.29/ Down 0.02 (at stock market closing time)

THURSDAY/17-01-2008/39.27/ No Change (at stock market closing time)

WEDNESDAY/16-01-2008/39.27/ up ^0.02 (at stock market closing time)

TUESDAY/15-01-2008/39.29/ No Change (at stock market closing time)

MONDAY/14-01-2008/39.29/ No Change ( at stock market closing time)

FRIDAY/11-01-2008/39.29/ No Change (at stock market closing time)

THURSDAY/10-01-2008/39.29/ Down 0.02 (at stock market closing time)

WEDNESDAY/9-01-2008/39.27/ up ^0.01 (at stock market closing time)

TUESDAY/8-01-2008/39.28/ up ^0.04 (at stock market closing time)

MONDAY/7-01-2008/ 39.32/ no change (at stock market closing time)

SATURDAY/5-01-2008/39.32/ up ^0.13 (at stock market closing time)

FRIDAY/4-01-2008/39.45/ Down - 0.02 (at stock market closing time)

THURSDAY/3-01-2008/39.43/ Down - 0.01 (at stock market closing time)

WEDNESDAY/2-01-2008/39.42/ up ^0.01 (at stock market closing time)

Annual India Economy Update (January 2007-January 2008)

Annual India Economy Update: well all the readers of this post would be surprised about the time duration of this annual India Economy Update as it is not based on Financial year which starts in India in March every year but rather it is based on the US financial year which begins in January and ends in december every year on the new year and is according to the Earth's revolutions around sun.

Economy of India in past 1 year has grown at around 8.7% this year which is very healthy rate but is behind the economy growth rate of China which stands at around 11% for same period.

India Economy's growth rate in 2007 remained lower when compared to the growth rate of the previous year but the stock markets remained in constant bull run through out the year with both sensex and Nifty touching new highs. Bombay Stock Exchange managed to rank itself in top 10 stock markets of world in market capitalisation.

Foreign Investors showed a lot of trust in Indian rupee and hence the foreign direct investments reached a new record this year and the trend would continue for next couple of years too.

Indian rupee grew at around 5% in 2007 and hence a lot of exporters were affected as they did not do proper hedging of dollar for minimising the impact of the deteriorating dollar.

Daily Rupee Updates-Rupee V/S Dollar daily price

India Economy is Growing daily and Indian Rupee has made it's position strong so i thought to publish daily dollar price after conversion to Indian Rupee. So that every one can know about the present trends of Indian Rupee and hence Indian Economy. However it is not possible for me to update the value hourly so the rates would be after the stock market transactions end for te day, later on i can provide you with hourly updates on India Economy. for time being the latest updates would be at around 6:00 pm IST daily.

Day/Date/Conversion Price(1 dollar in INR)/Remarks: (All enteries would be in same sequence respectively):

MONDAY/31-12-07/ 39.29/ up ^ 0.14 (at 6:40 pm IST)

FRIDAY/28-12-07/39.43/ up ^0.14(at 6.58 pm IST)

WEDNESDAY/26-12-07/39.57/down 0.20(at 7:23 pm IST)

TUESDAY/25-12-07/39.37/down 0.01(at 11:00pm IST)

MONDAY/24-12-07/39.36/down 0.02(at 6:00pm IST)

SUNDAY/ 23-12-07/39.34/down 0.06(at 8:59 pm IST)

FRIDAY/ 21-12-07/39.29/ up^0.26 (at 7:04 pm IST)

THURSDAY/ 20-12-07/39.55/ up^0.02

WED/ 19-12-07/ 39.57/ no change

Slowdown in US Economy V/S Boom in India Economy

From past couple of years their has been a gradual slowdown in the economy of US. There are certain reasons for the slowdown of US Economy. With the growth of economies of Asian countries like China and India .Economy of US has a serious threat as these two asian countries have grown at a decent pace in past four to five years while at the same time the economy of US has shown a slowdown. The subprime mortagage crises occuring in US has made several mortagage companies bankrupt and hence looking into the matter the president of US Mr. George W Bush has recently decreased the rate of interest for mortagage facilities available to the people of US. It's now clearly evident that the government of US has started feeling the heat of the slowdown in it's economy. Recently a mortagage services client of indian company Infosys declared itself short of funde i.e bankrupt and had no money to pay to Infosys for the period of time . There were around 250 customer executives working for the mortagage services company in Infosys found there client bankrupt and hence they all had to be shifted to other process hence the subprime crises of US mortagage companies has started affecting the job oppurunities not only in US but also in countries like india where the processes of these banks have been outsourced. hence Slowdown in the economy of US have forced many software companies of US to outsource more and more work outside US in countries like India.

Software jobs in US are also on a decline due to the stagnation in economy. Many US based software companies have all ready opened their development centers in India as carrying business for them in US itself has become less profitable while in India their profit margins are decent and they further can outsource their projects to Indian companies. Boom in Indian Economy has helped India in reducing it's import bills drastically. with the present rate of US dollar equivalent to ~ 39.50 INR and still decreasing further. Time is not far when the economy of Indian would become major Economy of World.

Economists have predicted that if Indian Economy Grows at the Same pace as of today then it would surely surpass the net value of France, Japan by the year 2020, and would become a superpower by year 2025 and India Economy would be third largest economy of world . world would be goverened by three economies of US, China and India, by the year 2035 india economy would surpass the economies of Germany, UK and indian rupee would be used for transactions all over the world.

US market is now dependent on the imports from asian countries like china and India and the volumes of Import from India and China are on a steady rise from the past couple of years. However India economy is still net an importer economy i.e. the imports are still more then the exports but the scenario is soon going to change and India would ultimately become an export economy in coming 10 years. Boom in India Economy is clear from the amount of Foreign Direct Investments being made in India by none other then companies of US since they want higher profits for their further expansions which are not possible while carrying their businesses in US as the profit percentages in US are on a decrease and future looks no better. So these companies have shown their tremandous interest in India and India Economy which is hence on a boom.

India does not have resources of it's own and hence for development it is using the Foreign Direct Investments for it's growth conservatively which is clear as the indian rupee is getting firm day by day . Foreign players have shown tremendous interest in Indian Stock Markets and both of the indian stock exchanges The Bombay Stock Exchange and National Stock Exchange have already crossed the magical mark of 20,000 and 6,000 respectively and are still showing promising signs.

Government of India has also taken promising steps for bringing in more foreign currency to India as investment . The Incredible India campaign is an example and government has many plans to attract foreign tourists on Indian Festivals by providing certain package to the tourists.

Economy of India

Indian Economy is the second fastest growing major economy of the world. In 2007 the value of indian economy is measured to be ~1.10 trilion USD. Indian Economy is majorly dependent on agriculture and about 2/3rd of total indian population is still thriving on agriculture sector which is still not automated and majority of agricultural activities are done manually, growing indian population is a major hurdle in smooth growth of the indian economy.
Earlier there was strict government control over all the economic activities but after the liberalisation of indian economy in 90's during the Congress Rule headed by Late P.V.Narsimha Rao and present prime minister Sardar Manmohan Singh(the then finance minister in Narsimha Rao government). hence indian economy became much free and many major MNC's started to tap the potential Indian Market. It was also the same time when indian companies started making global presence and moved out of the indian subcontinent for new markets hence expanding themselves from regional companies to indian MNC's . It was also time when Reliance Industries headed by Late Mr. Dhirubai Ambani earned huge profits and made his company a global company and indian second largest business house just next to the legacy of TATA's.
Earlier there was strict government control over private companies. but after liberlisation of the indian economy the business houses started expanding on their own and are now giving stiff compitition to similar companies of the west with added advantage of cheap labour. Indian Services industry lead by Tata Consultancy Services, Infosys, Wipro, Satyam etc. are also making their mark globally and finally world has come to know the ppower of indian intellectuals the biggest example is Indra Nooyi becoming CEO of Pepsico USA.

Growing Indian economy however has become now a matter of concern for indian I.T. Industry since Indian I.T. Industry is dependent on the rate of U.S. dollar. In the past one year or so Indian Economy has grown about 10% with respect to the U.S. dollar. Stagnation in economy of United States and at the same time the growth in Indian economy has affected the software services sector and the export sector adversly. many of the small exporters have lost lacs of rupees due to growing indian economy. Since small exporters do not use hedging techniques for minimizing the adversity of the growth in indian economy their business is suffering a lot hence government need to intervene now in order to check the present rate of the U.S. Dollar. thus helping indian exporters. Indian software industry which comprises of Tata Consultancy Services, Infosys, Wipro Technology, Satyam Computer Services, HCL etc need to negotiate their contract rates again with the out sourcing firms so that they can maintain the same growth which was prevelant when dollar was in mid 40's when converted to indian rupee. Due to growing indian economy the share prices of the top five services companies are on a steady decline fromthe last 1 year where as the share prices of similar USA copanies like IBM, Perot Systems have grown in the same period.

If the Indian Economy continues to grow at the same rate of about 9% per year than the day is not far when the booming indian I.T. Industry will have to be relocated outside India on a weaker economy country so that the cost benefit can be a plus for indian services industry.

Reserve Bank of India has taken various steps for controlling the growth in indian economy but these steps help temporarily and not are permanent solution .

Indian rupee as new Global Economy

Hi Everyone!
Post your views about when can you see Indian Rupee as new global economy as powerful as the US dollar which is presently the strongest economy in the world. Indian economy is growing and hence it has very bright future prospects. HOW DO YOU FEEL ABOUT IT????
There are various questions which need to be answered for making indian rupee achieve this feat.
some of them are:

1. What should be done for increasing the growth percent of economy at the same pace as China is growing??

2. What can India learn from the chineese economy and the policies of government there ?

3. Can Indian government policies achieve economy growth of over 11%??

There are several steps that Indian government need to take such as making strict rules as the government of China has made for using the huge man power in right proportion as required by different industry sectors. India is lacking this very ingredient as government is not able to divide the man power required by different industry sectors in right proportion hence there is surplus man power available in one sector but scarcity in another sector. India is boasting of itself majorly on services sector which i think is a superficial sector and is more or less governed by growth of manufacturing sectors so more emphasis should be made on the Hard core manufacturing sectors like automobile,steel, heavy machinary industry etc which determines the right growth of the country.
So basically i want to say is that the man power should be rightly divided in correcr proportion so that the saying "INDIA IS LAND OF 1 BILLION + OPPURTUNITIES" is felt as correct saying.

IF U HAVE SUGGESTIONS FOR THIS TOPIC DO POST YOUR COMMENTS !!

like SHOULD INDIA CHANGE IT'S ECONOMY MODEL SIMILAR TO THAT OF CHINA???
not fully but to some extent as possible.

one thimg is sure that growth of country is governed by growth in manufacturing sector rather than growth in services sector....

so what are you waiting for!!! Start posting your comments and let people know about your views and suggesions about the same!

Thanks,
Himanshu

Growing India Rupee-India Economy

Hi Everyone!
India is second fastest growing economy of the 21st century with annual growth pegged at ~9% for the year 2008. How do you all feel about it ??
Post your comments whether government would be able to take measures in order to sustain same pace of growth for coming years or do you think some immediate steps should be taken in order to carry on the growth rate which is result of economic reforms introduced by the then Finance minister Sardar Manmohan Singh in post 1991 Parliament.
There are several moves which can be encouraged further like:

1. Encouraging more Public Private partnership(ppp) investments.

2. Some concrete steps to control corruption at higher level due to which whole country is affected.

3. Providing management training to the MP's which are elected for first time as in case of Industrial training provided to software freshers by various companies.

Well different brains can give different better ideas so what are you all indians waiting for START POSTING NOW!!!!
This small effort by all true indians may be helpful to our motherland and if implemented we can see a developed India much Early as these Blogs can help in increasing the growth percent of economy to over 10% EVEN MORE THEN CHINA!!!

Your small effort can work wonders for a growing economy like India