Humming in the rain

Article Abstract:

India's growth promises to continue to be strong, with the delayed but above-normal rainfall ensuring a good year for agriculture. GDP growth is likely to hit 6% for the fiscal year ending Mar 31, 1996, thanks to industrial output rising at an annual rate of 12.5% through July and lower import duties, deregulated bank deposit rates, and stockmarket changes. Overall industrial growth should level to 10% by Mar. Exports were up 24.5% Jan-Aug, while imports soared 30.6%, fuelling a potentially inflationary depreciation of the rupee.

Economic indicators

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Reforms pick up speed

Article Abstract:

India's banks have made progress since liberalization of the Indian economy in the 1990s. Banks stay open longer and money transfers are carried out more easily. Nationalized banks are dominant in India, and they are having to become more transparent. Non-banking finance companies are developing and the best are attracting foreign investment. Private sector banks have made the most progress, while nationalized banks have reported a collective loss due to heavy losses suffered by a few banks.

Commercial Banks, Commercial Banking, Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Banking industry, Banks (Finance)

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Share the wealth

Article Abstract:

Indian Finance Minister P Chidambaram's first budget has apparently spooked stockholders, with the Bombay Stock Exchange's Sensitive Index plunging 9.4% in the week after it was announced on July 22. Few analysts predict a quick rebound, with the Alternate Minimum Tax on businesses, skepticism of his fiscal deficit target, and doubts regarding nonvoting shares contributing. Reliance Industres and Tata Iron & Steel will both suffer under the AMT, and fell 19.1% and 18.7% respectively.

Public Finance Activities, Fiscal Policy, Stocks & Other Equity Securities, Stock-exchange, Stock exchanges, Statistics, Budget, Budgeting, Budgets

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