Indian Economy News & Discussion - Nov 27 2017

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Vips
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

India plans changes to capital gains tax structure in next budget.

India is planning changes to its capital gains tax structure in the next budget, seeking to bring parity among tax rates and holding periods for investments across equity, debt and immovable property.

Currently, asset classes are not taxed uniformly and have different holding periods for levying capital gains tax, which needs to be aligned, an official involved in the process said on condition of anonymity.

The government has received several proposals from the industry to simplify the capital gains tax structure, and changes are expected in the Budget for 2023/24, the official said without disclosing more details as discussions are confidential.

India taxes investment gains based on a lock-in or holding period. Investments in equity or equity-linked mutual funds for more than one year are considered as long-term, and attract a 10% tax on gains of more than 100,000 rupees. Investments in equity held up to one year are considered short-term and attract a 15% tax.

Investment in debt-oriented funds is considered long term if held for at least three years, while immovable property such as land needs to be held for at least two years to be categorised as long-term, and gains are taxed at 20%. Investment in a property held for less than two years is considered short-term and taxed at the income tax rate applicable to an individual.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by ritesh »

Govt if it wants to galvanise the economy and is interested in increasing the income levels, then it has to do some minium things like:
- increase the slab for tax free income to 5lacs
- provide gst input tax credit like scheme for individuals for indirect taxes, even nominal 1-2% on overal spends will also do
- bring each and every indirect taxes under GST regime like liquor fuels etc.
- rationalise GST rate to 1% on essentials, 5% on discretionary spending, 10% on luxury and fuels, 20% liquor cigs etc.
vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Image

Gati Shakti was planned using satellites
Wondering if these UPI, UHI (Unified Health Interface), Gati Shakti kind of models can be developed for other developing countries in Asia and Africa based on our expertise and involve our industry.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Bart S »

^Yes, it should be marketed as an 'India stack', sort of like a digital 'BRI'. Would vastly increase our influence and integration with the developing world.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

India’s foreign exchange reserves log fastest pace of growth since August 2021 after rising by a whopping $14.72 billion.

India's foreign exchange reserves logged their biggest weekly jump in more than a year for the week ended November 11, in line with analysts’ expectations who said the US dollar has lost momentum and the RBI is gaining reserves primarily from revaluation gains and perhaps also some opportunistic buying.

The foreign exchange reserves of Asia's third largest economy rose by a whopping $14.72 billion to $544.715 billion, the fastest pace of growth since August 2021, according to data released today by the Reserve Bank ofIndia.

For the week ending Oct. 28, the foreign exchange reserves had jumped $6.56 billion to $531.08 billion, then the biggest weekly jump since September 2021.

While the sharp jump was likely fuelled by the softer dollar and changes in the central bank's forward book, this is some turnaround from the central bank’s persistent effort to restrict rupee’s downslide and valuation impact that had almost emptied the forex reserves significantly.

The spot forex reserves have fallen from $607 billion in end-March and are now down by $97.73 billion from the record high of $642.45 billion seen on September 3 last year. However, this is better than depletion of $117.93 billion reported for the week ending Oct. 21, when forex reserves had slumped to an over two-year low of $524.52 billion.

The forex reserves had depleted for 11 weeks out of 13 till last week.

The rise in the foreign exchange reserves can be attributed to a jump in the Foreign Currency Assets (FCA), which is a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI.

Foreign currency assets rose $11.8 billion to $482.53 billion for the week ending Nov 11. Gold reserves rose $2.64 billion to $39.70 billion.

Expressed in dollar terms, FCA consists of the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

For the week ended Nov 11, the rupee logged its best weekly performance in about four years. It jumped 2% last week, helped by a slide in dollar index, which was accelerated by the softer-than-expected U.S. inflation data.

The rupee closed at 81.6850 against 81.65 in the previous session, taking its losses for the week to 1.1%.

The central bank's strategy to buy US dollars is also helping Mint Road ease domestic liquidity, leading to a greater degree of comfort on short-term interest rates after they had climbed over concerns of tighter money supply.

"The RBI has been balancing the twin objectives of both stabilising the forex reserves to provide confidence to the forex market while at the same time ensuring that liquidity remains adequate," said Madan Sabnavis, chief economist, Bank of Baroda. "Hence, it has bought more than $8 billion in the market and also infused liquidity simultaneously to balance out the two. This is in alignment with the central bank's basic objective of curbing volatility in the markets."
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by rahulm »

x-post from strategic thread

https://twitter.com/dk_mercer?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

I have observed a curious phenomena over the last few months.

There has been a slow and sure ratcheting up of woes of Griffin coal in WA which was lent 1.5 billion by Sindhu Trade Links, through its subsidiary Oceania Resources (never head of these chaps). Sindhu borrowed 1.5 billion from ICICI. That debt is now NPA.

Whats interesting is Daniel Mercer's latest story India's biggest private bank bets $1.1 billion on a failed Aussie coal mine while poverty reigns at home now has dollops of:
India's biggest private bank bets $1.1 billion on a failed Aussie coal mine while poverty reigns at home
Worst of all, ICICI has plunged more than a billion dollars into a hopeless bet on foreign soil while hundreds of millions of Indians endure life below the poverty line.
84 per cent of Indians lived on less than $US6.85 a day in 2019.
Even if the line is drawn lower, there were still 80 million people eking out an existence on no more than $US1.25 a day.
The real losers, as is depressingly common in these circumstances, are likely to be ordinary Indians, far too many of whom are mired in extreme poverty.

For them, $1.4 billion must seem like an awful lot of money.
Seems like a hit job while seeking to fire the virtue signalling gun from the shoulders of a cross border private business transaction. The shareholders of ICICI will decide what to do with this. It's not a sovereign transaction to drag 1.4 billion Indians into it and sermonise?

With the terrible plight of Indigenous (Aboriginals) in Australia
  • the average life expectancy of Aboriginal and Torres Strait Islander people was approximately ten years (10.6 years for men and 9.5 years for women) less than that of non-Indigenous Australians.

    ust over half (52.2 per cent) of Aboriginal and Torres Strait Islander people aged between 15 and 64 years were not employed in 2012-2013, compared with 24.4 per cent of non-Indigenous Australians

    In non-remote areas, Aboriginal and Torres Strait Islander people were one-and-a-half times more likely than non-Indigenous adults to have a disability or a long-term health condition.

    Around one in twelve Aboriginal and Torres Strait Islander adults are part of the Stolen Generations. In 2008, 8 per cent (26,900) of Aboriginal and Torres Strait Islander people aged 15 years and over stated that they had been removed from their natural family. 35 per cent assessed their health as fair or poor and 39 per cent experienced high or very high levels of psychological distress

    The national imprisonment rate for Aboriginal and Torres Strait Islander adults is 15 times higher than that for non-Indigenous adults
With one of the highest per capita incomes in the world, at $55,290 PPP (2021) Australia certainly has the means to remedy this horror. Is it, then, criminal, unconscionable, immoral and extreme ineptitude or racism that perpetuates this indignity and that has been ongoing since centuries?

Further, while the Rome of the Indigenous people in Australia burns, Australian reporters, including Dan are focussed on a private cross border transaction.. I wonder what the poor aboriginals think of and have to say about that.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Image
vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://www.firstpost.com/opinion-news- ... 49591.html
G20 summit announced India’s arrival on global stage; path ahead will need more diplomatic dexterity, relentless focus
India’s growing geopolitical clout is underwritten by its global trend-defying economic trajectory and conducive external environment

Tanaji
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Tanaji »

Rahulm saar, similar attacks and articles are appearing in all fields that take potshots on Yindoo fundamentalist, rapes and of course the poverty.

These are all signs that India has arrived on the world stage where it matters and is now being perceived a challenger to the established order. Hence the virtue signalling.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

hnair wrote:Buying a 40rs milk packet from a shop about 1km away is a pain for lots of folks. You either walk or use two wheeler. Then there is the charming thing in Bangalore called gridlock, which can add to fuel costs for driving. Then you get a parking like, further half kilometer away. The other option of catching a auto/rick has minimum charge in rest of India but in Bangalore, the rick guy is usually a grand douche who won’t want your fare if it is not in his route or distance is under 1 light year.

The milk procurement cost including the hour it takes, plus lugging it to your doorstop will definitely make delivery fee look good, when combined with other groceries. Add to that rains or illness or small kids to lug along for these essential shopping jaunts and these delivery fees looks attractive for convenience of procuring groceries from your home. Only destination shopping like malls are worth the trouble for a personal leisure and entertainment kind of experience nowadays in the big cities of India

This delivery mode works well to decongest shopping traffiic and make life easier and is probably greener also, if electric scooters are introduced. These delivery apps helps small businesses who won’t otherwise attract footfalls and is great for micro-markets inside a city
hnair saar,

Slowly but surely the gears are shifting and the BIF supported middlemen are being crowded out.

Farmers may even sell wholesale quantities with many customers arranging pick up from sellers site. Private buyers bypassing the middlemen are already picking up grain directly from the farmers at prices higher than the declared MSPs.

The days of dry fruit driven dharnas, onsite foot massages, and pappu pizzawalla serving fresh and sizzling hot pizzas from kerbside cafeterias that sprang up at these khalistani funded dharna sites seem to be over.

Bicholias in punjab have already felt the sting of lost commissions as farmers are increasingly selling outside the mandis.


Some of these initiatives are going to be the possible drivers for influential offshore players including regime change interests in big business and big data and deep pocketed "campaign contribution" type of investors who may dependent on cheeni supply chains for leveraging the economics of scale. walmart and bezos are two players who are unhappy operating in India under Modi because they don't have the free and unrestricted reign that they have almost everywhere else in the world

Madhya Pradesh Govt signs MoU with ONDC platform. Farmers, MSMEs, entrepreneurs & others from the state will be now eligible to join this platform as sellers.

https://economictimes.indiatimes.com/te ... s?from=mdr
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

Australian Parliament passes Free Trade Agreement with India.
BREAKING: Our Free Trade Agreement with India has passed through parliament. (photo with @narendramodi at the G20) pic.twitter.com/e8iG3gpTgr

— Anthony Albanese (@AlboMP) November 22, 2022


https://indianexpress.com/article/india ... e-8283000/
Goyal had earlier stated that the agreement would help in taking the bilateral trade from USD 27.5 billion at present to USD 45-50 billion in the next five years.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

Image
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

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rajkumar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by rajkumar »

vijayk wrote:Image
This makes me so happy. Finally one of the most polluting vehicles on Indian roads getting replaced by electric powered vehicles.
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

Image
vcsekhar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vcsekhar »

This is really strange, all I see for the messages above from Chetak, Vijayk & Chetak again is just a word saying "Image" thats it, no link to an image or the image itself in the message.

Am I the only one who is seeing this? I am logged into the forum and can post to it. Any ideas?
Thanks for your help.
cheers..
nandakumar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by nandakumar »

vcsekhar wrote:This is really strange, all I see for the messages above from Chetak, Vijayk & Chetak again is just a word saying "Image" thats it, no link to an image or the image itself in the message.

Am I the only one who is seeing this? I am logged into the forum and can post to it. Any ideas?
Thanks for your help.
cheers..
I can see it. It is an image of a news story from Business Standard which quotes Monteksingh Ahluwalia to the effect that switching over to old pension system would be fiscally disastrous.
Aldonkar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Aldonkar »

vcsekhar wrote:This is really strange, all I see for the messages above from Chetak, Vijayk & Chetak again is just a word saying "Image" thats it, no link to an image or the image itself in the message.

Am I the only one who is seeing this? I am logged into the forum and can post to it. Any ideas?
Thanks for your help.
cheers..
Right click on the word "Image" . Then select "Open image in New Tab".
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

vcsekhar wrote:This is really strange, all I see for the messages above from Chetak, Vijayk & Chetak again is just a word saying "Image" thats it, no link to an image or the image itself in the message.

Am I the only one who is seeing this? I am logged into the forum and can post to it. Any ideas?
Thanks for your help.
cheers..
vcsekhar ji

check your browser settings or try and use another browser to isolate the problem

On numerous occasions, what you describe has happened to me also
vcsekhar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vcsekhar »

Aldonkar wrote:
Right click on the word "Image" . Then select "Open image in New Tab".
This works, but, the word "Image" does not show up as a link, normally if you hover your mouse cursor over a link the pointer will change to a hand, this does not happen in this case.
This is very strange, let me do some digging to understand this. Thanks for your help.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vcsekhar »

chetak wrote: vcsekhar ji
check your browser settings or try and use another browser to isolate the problem
On numerous occasions, what you describe has happened to me also
I user Firefox as my default browser and I checked the settings and I was using the "Strict" set of options for the "Privacy and security" settings. When I switched to the Standard set, the images showed up as intended.
Will have to check which of the settings actually cause this issue. I will post the details when I find out.

Thanks for your help.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Image
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

unbelievable

these guys and their companies are marketing parasites looking for a host

Image
nachiket
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by nachiket »

Vips wrote:India’s foreign exchange reserves log fastest pace of growth since August 2021 after rising by a whopping $14.72 billion.

For the week ended Nov 11, the rupee logged its best weekly performance in about four years. It jumped 2% last week, helped by a slide in dollar index, which was accelerated by the softer-than-expected U.S. inflation data.

The rupee closed at 81.6850 against 81.65 in the previous session, taking its losses for the week to 1.1%.
This shows the charmed life that the US leads thanks to printing the world's reserve currency. They effectively exported their inflation all over the world leading to every other currency falling in value when US inflation shot up. In any other country, even a rich one high domestic inflation might have led to their own currency falling in value instead of the reverse.

Also the RBI has had to navigate a very tricky situation. Domestic demand in India has been robust during the post-covid recovery, so the imports kept increasing. Meanwhile low growth/recession in the US and Europe meant lower exports leading to a high CAD made worse by high oil prices. Downward pressure on the rupee must have been immense. Our non-dollar denominated foreign currency assets must have also fallen in value thanks to those currencies weakening against the dollar. Credit to the RBI for walking the tightrope quite well so far. But we're not out of the woods yet.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Zynda »

nachiket wrote:This shows the charmed life that the US leads thanks to printing the world's reserve currency. They effectively exported their inflation all over the world leading to every other currency falling in value when US inflation shot up. In any other country, even a rich one high domestic inflation might have led to their own currency falling in value instead of the reverse.
^^This...happening since 2010 or so since I've started paying attention...so I take all these USD being in trouble (de-dollarisation) with a huge bag of salt. Even now many investors are rushing towards safety of USD...may be the process of de-dollarisation might be happen over the next 50 years and small steps are being taken by many countries towards the above but in the near future, USD will be the king.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by NRao »

Would we better off starting a new thread?


Meanwhile, Sanyal's thoughts

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

GST Collections Stay Above Rs 1.4 Lakh Crore For Ninth Straight Month.

India's monthly goods and services tax revenue in November remained above Rs 1.4 lakh crore for the ninth month in a row. GST collections for November, reflecting transactions in October, stood at Rs 1,45,867 crore, after a festive season high of Rs 1,51,718 crore in October, according to a statement released by the Ministry of Finance. It is 11% higher than the corresponding period last year.

"The sequential dip in collections in November relative to October, reflects the boost from quarter-end payments in the latter month, as the inflows in each month pertain to the activity in the previous month," said Aditi Nayar, chief economist with ICRA Ltd. The collections were in line with expectations, she said. While festive spending is assessed to have been high in October 2022, the generat

While festive spending is assessed to have been high in October 2022, the generation of GST e-way bills had moderated sequentially, given a higher number of holidays in that month, Nayar said.

The highest-ever GST revenue collected was in April—for transactions in March—at Rs 1.67 lakh crore, in line with the higher collection trend observed at the end of the fiscal.

As a result, India's monthly GST revenue has remained above Rs 1.4 lakh crore for the ninth month in a row, accounting for transactions done in February.

In a recent interview with the PTI, Revenue Secretary Tarun Bajaj said that this fiscal's tax collections will be about Rs 4 lakh crore more than the budgeted amount. This is because income tax, customs duty, and GST mop-up are all showing gains.

He expected the total tax collection to be about Rs 31.50 lakh crore in 2022–2023. This would be made up of Rs 17.50 lakh crore in direct taxes, consisting of personal and corporate taxes, and Rs 14 lakh crore in indirect taxes such as customs, excise, and GST.

The government's budgetary tax collection target for direct taxes is Rs 14.20 lakh crore, while for indirect taxes it is Rs 13.30 lakh crore, making up for a total target of Rs 27.50 lakh crore.

Break-Up Of GST Collections:
-Gross GST Revenue: Rs 1,45,867 crore.
-Central GST: Rs 25,681 crore.
-State GST: Rs 32,651 crore.
-Integrated GST: Rs 77,103 crore, including Rs 38,635 crore collected on import of goods.
-Cess: Rs 10,433 crore, including Rs 817 crore collected on import of goods.

Maharashtra topped state-wise collections, owing to the size of the tax base, at Rs 21,611 crore, growing at 16% year-on-year. Karnataka continued to be the second highest contributor state after Maharashtra with 13% year-on-year growth, collecting Rs 10,238 crore in November.

Bihar saw the highest year-on-year rise for the month of November, at 28%, amounting to Rs 1,317 crore on a smaller base of Rs 1,030 crore collected over the same period last year.

Other top-earning states include Tamil Nadu, West Bengal, Telangana and Andhra Pradesh.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

https://archive.ph/GoY82

The Indian economy remains a bright spot in South Asia Other countries in the region may continue to struggle
Few parts of the world will limp into 2023 quite like South Asia. Consider the year the region has just had. In Sri Lanka, the economy collapsed, inflation hit 70%, food and fuel ran short and a president was chased out of the country by a popular uprising. Pakistan flirted with default, suffered biblical floods that caused an estimated $32bn-40bn in damage, and must put up with constant disruption from Imran Khan, a rabble-rousing ex-prime minister, who is making the country ungovernable. In Bangladesh, there were horrifying industrial accidents, more floods, and a public losing patience with the 1m Rohingya refugees they must support. Nepal faced dwindling foreign-currency reserves.

Yet amid all this gloom there is one bright spot. By most standards, India sailed through 2022 relatively unscathed. The lifting of pandemic restrictions allowed normal life to resume and migrants to move around the country once more. The central bank’s rate rises have been less brutal than those of rich countries. Inflation, at about 7%, looked positively cool compared with America and Britain, let alone Pakistan and Sri Lanka. The economy was forecast to expand by a respectable 6.8% for the full year, outstripping any major economy bar Saudi Arabia. Measured in dollars at current prices, India is now the world’s fifth biggest economy, taking Britain’s spot. The gap between the two will only widen in 2023, reckons the IMF.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

The Spectator Index @spectatorindex
India's Manufacturing PMI has risen to 55.7 in November, beating market expectations and marking a three-month high
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vips »

India’s foreign exchange reserves move up by $2.89 billion to $550.14 billion.

India's foreign exchange reserves rose for a third week, aided by revaluation gains amid easing of pressure on the rupee and a less hawkish Fed.

The foreign exchange reserves of Asia's third largest economy rose $2.89 billion to $550.14 billion for the week ending Nov 25, according to data released today by the Reserve Bank of India.

The rise in the foreign exchange reserves can be attributed to gains in the Foreign Currency Assets (FCA), which is a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI.

Foreign currency assets rose $3 billion to $487.29 billion for the week ending Nov 25. However, gold reserves fell $73 million to $39.94 billion.

Expressed in dollar terms, FCA consists of the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

For the week ended Nov 25, the rupee had closed little changed. The rupee dipped to 81.3175 per U.S. dollar today, but it rose 0.5% this week, lifted by the U.S Federal Reserve Chair Jerome Powell's comments that did not sound as hawkish as some had feared. Meanwhile, the dollar index hit its lowest level since July.

For the week ending Nov 18, the foreign exchange reserves had risen to $547.25 billion, while in the prior week it jumped by a whopping $14.72, the biggest weekly jump since August 2021, reflecting the impact of recent overseas currency purchases by the central bank amid rising global appetite for local growth assets.

However, experts opine that the future pace of increases in forex reserves may not be sharp. China is re-emerging as a competitor for international investors’ funds. As China begins to ease curbs and move to focus on the economy, it’s beaten down valuations vis a vis India’s steepest valuations could turn out to be India’s disadvantage and temper down flows.

However, the spot forex reserves have fallen from $607 billion in end-March and are now down by $92.31 billion from the record high of $642.45 billion seen on September 3 last year.

With the latest gains, the forex reserves have come off an over two-year low of $524.52 billion logged in October. The forex reserves have depleted for 11 weeks out of 16.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by saip »

According to World Bank, India may become the first country to receive $100 billion in remittances this year (2022).

Link
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

I am wondering if Govt. can reduce GST on domestic Make in India products and leave same rates on imported item. Would that be possible? Would that benefit Make in India products?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by nandakumar »

vijayk wrote:I am wondering if Govt. can reduce GST on domestic Make in India products and leave same rates on imported item. Would that be possible? Would that benefit Make in India products?
That would be difficult, I think. If India did that it would be against the WTO rules and the affected nations can take it up with WTO by invoking provisions of the dispute resolution mechanism. Typically India had resorted to anti-dumping duty mechanism to shelter Indian industry.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by a_bharat »

nandakumar wrote:
vijayk wrote:I am wondering if Govt. can reduce GST on domestic Make in India products and leave same rates on imported item. Would that be possible? Would that benefit Make in India products?
That would be difficult, I think. If India did that it would be against the WTO rules and the affected nations can take it up with WTO by invoking provisions of the dispute resolution mechanism. Typically India had resorted to anti-dumping duty mechanism to shelter Indian industry.
Different GSTs are not necessary. India can set high import tariff rates and penalize under-invoicing.
chetak
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

a_bharat wrote:
nandakumar wrote: That would be difficult, I think. If India did that it would be against the WTO rules and the affected nations can take it up with WTO by invoking provisions of the dispute resolution mechanism. Typically India had resorted to anti-dumping duty mechanism to shelter Indian industry.
Different GSTs are not necessary. India can set high import tariff rates and penalize under-invoicing.
a_bharat ji,

and what will we do when others retaliate in a similar tit for tat fashion
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