สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 28 มีนาคม 2555
India to host fourth BRICS summit today
Prime Minister Manmohan Singh is back in India for the fourth BRICS summit that begins on Wednesday. New Delhi is all set to play host to world leaders that include Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, South African President Jacob Zuma and Chinese Premier Hu Jintao.
President Pratibha Patil is scheduled to host a dinner for all heads of state later on Wednesday evening.
Bilateral talks between the nations will be held on Thursday. Meanwhile, security has been tightened to contain Tibetan protests against the arrival of Hu Jintao.
There will be multi-layered security along the route, places of stay and the summit venue.
5000 policemen have been deployed across the hotels and the summit venue and 2000 more will handle traffic and VVIP movements.
Commerce and industry minister Anand Sharma would meet his counterparts from Brazil Fernando Pimente, Chen Deming from China and Russia's Elvira Nabiullina and Rob Davis from South Africa.
The last summit was held in China in April, 2011.
(Source: Hindustan Times, IBNLive, Economic Times, Moneycontrol.com)
India to Borrow 3.7 Trillion Rupees in First Half of Next Year
India plans to raise 3.7 trillion rupees ($72.7 billion) from debt sales, or 65 % of its annual borrowing plan, in the six months ending Sept. 30, Economic Affairs Secretary R. Gopalan said.
The government’s net borrowings in the first half of the financial year beginning April 1 will be 2.85 trillion rupees, or 63 % of the total, Gopalan told reporters yesterday.
Finance Minister Pranab Mukherjee on March 16 projected record borrowing of 5.69 trillion rupees to plug a fiscal deficit estimated at 5.1 % of gross domestic product in the year starting April 1. The Reserve Bank of India has flagged inflation risks from the shortfall, an oil-price surge and a weaker rupee, while signaling readiness to lower interest rates to bolster growth.
India’s deficit target for 2012-2013 is “conservative and pragmatic,” Mukherjee told lawmakers in parliament yesterday, adding the nation can’t indulge in fiscal profligacy.
Inflation in Asia’s third-largest economy was 6.95 % last month, holding close to a 26-month low. It remains the fastest in the BRIC group, which also includes Brazil, Russia and China. India has the widest BRIC budget gap.
Economic expansion moderated to 6.1 % last quarter, the slowest pace in almost three years, as costlier credit hurt consumer spending and dented investment.
(Source: Wall Street Journal, Economic Times, Times of India, Bloomberg, Livemint)
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