• According to data released by the Central Statistics Office, India's Gross Domestic Product (GDP) grew at 4.8% in the fourth quarter of FY13, higher than the previous quarter’s growth rate of 4.7%. The GDP for the entire financial year 2012-13 hit a decade low of 5.0%.
• The fiscal deficit for the financial year 2012-13 fell to 4.89% of GDP against the revised estimate of 5.2%, following sound revenue receipts and increased non-tax revenue collection. Expressing contentment over falling fiscal deficit numbers, Finance Minister said that the Government will focus on increasing revenues to bring down the deficit to below 4.8% of GDP in the current financial year.
• The central bank has tightened the asset restructuring rules for banks after the weakest economic growth in a decade prompted a surge in bad loans. The new rules include raising capital requirements and forcing banks to seek personal guarantees from controlling the shareholders of companies whose loan terms are eased.
• The central bank Governor said that the central bank will consider the macro-economic factors for policy decisions, especially the CAD, which is leading to the rupee weakening.
• The fiscal deficit for the financial year 2012-13 fell to 4.89% of GDP against the revised estimate of 5.2%, following sound revenue receipts and increased non-tax revenue collection. Expressing contentment over falling fiscal deficit numbers, Finance Minister said that the Government will focus on increasing revenues to bring down the deficit to below 4.8% of GDP in the current financial year.
• The central bank has tightened the asset restructuring rules for banks after the weakest economic growth in a decade prompted a surge in bad loans. The new rules include raising capital requirements and forcing banks to seek personal guarantees from controlling the shareholders of companies whose loan terms are eased.
• The central bank Governor said that the central bank will consider the macro-economic factors for policy decisions, especially the CAD, which is leading to the rupee weakening.
No comments:
Post a Comment