Prime Minister Narendra Modi-led government’s target of achieving a 4.1% fiscal deficit target is achievable, said Economic Survey for the year 2014-2015.
There are not many doubts from a long term perspective but many who await a big bang budget like that of 1991 will be left disappointed. The historic mandate to this government not seen in over 30 years, creeping acquisition of power at the state level offer immense hope that unified and rapid action on reforms will take shape. Coupled with building of macro-economic tailwinds, we remain confident that bull market is here to stay.
For the day, the outlook is a positive start. With most global markets shut, the indices have enough reason to decide their own direction. Of course a lot will depend on what the budget has in store and how it is interpreted by the market. US indices ended lower. US economy grew much slower than expected in the fourth quarter. The Dow fell 0.45% while the S&P 500 ended flat. Nasdaq shed half a percent.
Prime Minister Narendra Modi-led government’s target of achieving a 4.1% fiscal deficit target is achievable, said Economic Survey for the year 2014-2015. The Economic Survey 2014-15 presented by the Finance Minister Arun Jaitley to the Parliament indicates that a clear political mandate for reform and a benign external environment now is expected to propel India on to a double digit trajectory.
It states that Indian economy appears to have now gone past the economic slowdown, persistent inflation, elevated fiscal deficit, slackening domestic demand, external account imbalances and oscillating value of the rupee.
According to the Economic Survey 2014-15, the Average Wholesale Price Index (WPI) (base year 2004-05 = 100) inflation declined to 3.4% in 2014-15 (April-December) as compared to an average of 6% during 2013-14. During the first quarter of 2014-15, WPI headline inflation stood at 5.8% as mainly food and fuel prices were high.
The Economic Survey 2014-15 says the IT and ITeS sector including Business Process Management (BPM), continues to be one of the largest employers in the country, directly employing nearly 35 lakh people. NASSCOM estimates the revenue of the IT-BPM industry at US$119 billion grew by 12 per cent in 2014-15 with export market alone making up almost $100 billion. The year witnessed hyper-growth in the technology start-up and software product landscape, India ranking as the fourth largest start-up hub in the world with over 3,100 start-ups in the country. Software products and services revenues for 2015-16 is projected to grow at 12-14 per cent.
Prime Minister Narendra Modi addressed the Lok Sabha saying we are trying to find out solutions to Problems existing for years. Corruption remains an issue of concern, he said adding that the issue is about development and not about names of schemes.
The CNX Realty index gained 4.5% at 241.10 on hopes of sops for the housing sector. Shares of Unitech zoomed over 16% at Rs. 21.50, while HDIL soared 6% to Rs. 120, and Indiabulls Real Estate rallied 5.5 % to Rs. 83.
Railway stocks were higher. Titagarh Wagons was locked at the 10% upper circuit at Rs. 640. Texmaco Rail soared 10.5% to Rs. 150. Stone India has gained 3.5% at Rs. 82.50
For the day, the outlook is a positive start. With most global markets shut, the indices have enough reason to decide their own direction. Of course a lot will depend on what the budget has in store and how it is interpreted by the market. US indices ended lower. US economy grew much slower than expected in the fourth quarter. The Dow fell 0.45% while the S&P 500 ended flat. Nasdaq shed half a percent.
Prime Minister Narendra Modi-led government’s target of achieving a 4.1% fiscal deficit target is achievable, said Economic Survey for the year 2014-2015. The Economic Survey 2014-15 presented by the Finance Minister Arun Jaitley to the Parliament indicates that a clear political mandate for reform and a benign external environment now is expected to propel India on to a double digit trajectory.
It states that Indian economy appears to have now gone past the economic slowdown, persistent inflation, elevated fiscal deficit, slackening domestic demand, external account imbalances and oscillating value of the rupee.
According to the Economic Survey 2014-15, the Average Wholesale Price Index (WPI) (base year 2004-05 = 100) inflation declined to 3.4% in 2014-15 (April-December) as compared to an average of 6% during 2013-14. During the first quarter of 2014-15, WPI headline inflation stood at 5.8% as mainly food and fuel prices were high.
The Economic Survey 2014-15 says the IT and ITeS sector including Business Process Management (BPM), continues to be one of the largest employers in the country, directly employing nearly 35 lakh people. NASSCOM estimates the revenue of the IT-BPM industry at US$119 billion grew by 12 per cent in 2014-15 with export market alone making up almost $100 billion. The year witnessed hyper-growth in the technology start-up and software product landscape, India ranking as the fourth largest start-up hub in the world with over 3,100 start-ups in the country. Software products and services revenues for 2015-16 is projected to grow at 12-14 per cent.
Prime Minister Narendra Modi addressed the Lok Sabha saying we are trying to find out solutions to Problems existing for years. Corruption remains an issue of concern, he said adding that the issue is about development and not about names of schemes.
The CNX Realty index gained 4.5% at 241.10 on hopes of sops for the housing sector. Shares of Unitech zoomed over 16% at Rs. 21.50, while HDIL soared 6% to Rs. 120, and Indiabulls Real Estate rallied 5.5 % to Rs. 83.
Railway stocks were higher. Titagarh Wagons was locked at the 10% upper circuit at Rs. 640. Texmaco Rail soared 10.5% to Rs. 150. Stone India has gained 3.5% at Rs. 82.50
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