I thought the topic was India facing mass default? Where has load shedding come into this?
On topic i think over zealous poor european management of economies have created a "economic tsunami" thats even reached the likes of India. Going to be a rocky ride for all.
Last edited by fd24; 05-23-2012 at 08:28 PM.
My god I have Never see Pakistanis So happy for a quiet a few mnths.....
This thread has become Pakistani trollfest ....Just sitback and enjoy guys, No need to reply them ......Everybody deserves some happiness ....
In the meantime watch Gold and commodities prices huge correction awaited .......
India April inflation worse than expected 7.2pct - BusinessWeek
India April inflation worse than expected 7.2pct
By ERIKA KINETZ
India's inflation accelerated to a worse than expected 7.2 percent in April, on rising food and manufacturing prices, government data showed Monday.
March inflation was 6.9 percent. The government revised February inflation to 7.4 percent from an earlier estimate of 7.0 percent.
A CNBC-TV18 poll had forecast April inflation at 6.7 percent.
The data reinforces the conundrum facing India's central bank, which is under pressure to cut rates to boost growth despite persistent inflation.
A fall in industrial output reported Friday added to the gloom about India's economy, which is growing at its slowest pace in over two years.
Food prices rose 10.5 percent in April from a year ago, the data showed. Inflation for manufactured products quickened to 5.1 percent in April from 4.9 in March.
Many economists expect prices to rise even more as electricity tariff hikes get passed on to consumers. The government may raise subsidized petrol and diesel prices to ease India's fiscal deficit -- a move that would also stoke inflation.
"The Reserve Bank has to take care of inflation over growth," said Madhavi Arora, an economist at Karvy Stock Broking in Mumbai. "Hyper inflation is not good for any economy."
The Reserve Bank of India cut rates for the first time in three years in April, but warned that it saw little leeway for further rate cuts because of inflation fears.
The bank has been pleading with New Delhi to tighten fiscal policy to help bring prices down and enact long promised policy changes that would bolster investor confidence and help unblock supply constraints. Hopes are diminishing, however, that India's weak ruling coalition will take decisive action before national elections in 2014.
"Financial intervention can only do that much. Demand supply decides the pricing flow," said R. Muralikrishnan, head of institutional equities at Karvy. "The inflation problem is there because there has been no capex."
I pity those students studying outside ..
40 per dollar to 56 per dollar is 2 years
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