India Biggest Beneficiary in FII Poll Vault:
Foreign institutional investors (FIIs) have increased allocation to emerging markets where elections are due this year . $5.2 billion or 35% of $15 billion FIIs has come to India. As a result the benchmark index of India has gone up by 10%. India has received the largest chunk of such investments since the beginning of the year and, experts say, the country is likely to be among FII favourites in the run-up to the elections. India's share in regional allocation funds such as BRIC, Asia, Pacific, Global Emerging Fund (GEM) and EM is currently higher than the long-term average.
Rise in retail, wholesale inflation dashes rate-cut hopes
Expensive fruits and vegetables pushed up wholesale and retail inflation rates in March, dashing industry's hopes of a rate cut by the RBI in its forthcoming monetary policy review in June.
While wholesale inflation in March rose to a three-month high of 5.7 per cent, retail inflation inched up to 8.31 per cent after softening for three straight months since December.
Reserve Bank of India, which has been refraining from cutting rates because of heightened inflation, may wait for some more time, India Inc wants the central bank to take a view in the backdrop of the slowing economy.
Services exports in February at $13.16 billion:
India's services exports in February stood at $13.16 billion compared to $ 13. 93 billion in January. The services sector contributes about 55 per cent to the country's gross domestic product. During April-February period, services exports were worth $152.69 billion. Total services imports stood at $79.7 billion during the first 11 months of 2013-14 financial year.
Over 14,000 MW Hydel Capacity to be added in 4 yrs: Central Electricity Authority
As many as 40 projects are under various stages of implementation in the country which will be commissioned by 2018. The central government is constructing projects with over 7,500 MW capacity which include five projects of NHPC and three of NTPC. Over 2,000 MW hydel capacity is being added by the state power generation companies with Himachal Pradesh contributing a lion's share of 956 MW. Six hydel plants in the state are in various stages of execution and will be commissioned by 2018.
Thaiindia.net Team
16 April 2014