World-Me-My viewpoint

With Bihar Assembly elections in the month of October and Prime Minister’s Visit to USA to attend UN General Assembly and meet CEOs of Silicon valley companies for investments in India, nothing much happened domestically. Many of the ministers of Ruling Party BJP are camping in Bihar for campaign with each of them camping there for at least 2-3 days and one Public Holiday in the middle of the week, this week can be taken as rather dull. As per the figures released by the Reserve Bank of India, Corporate India’s foreign borrowings increased by around 48% in the month of August 2015 compared to same month previous year. This is by both automatic approval route as well as External Commercial Borrowings. The borrowings in August 2016 stood at USD 750.76 Million in August 2015 compared to USD 507.40 Million in August 2014. The Reserve Bank of India (RBI) has notified norms that allow banks to upgrade credit facilities extended to borrowing entities upon a change in ownership, so long ...

As per the figures released by the Ministry of Commerce and Industry, India’s merchandise exports registered a decline of 20.66% in Dollar terms (decline of 15.22% in Rupee terms) during August 2015 compared to August 2014. Exports for the period April – August 2015 declined by 16.17% (10.94% in Rupee terms compared to the same period last year. Global economic slowdown is a major cause for this decline. Merchandise exports contribute to around 15% of country’s GDP. Compared to August 2014, exports of Rice (-21.26%, other cereals (-40.10%), Iron Ore (-29.75%), Engineering Goods (-24.23%), Petroleum products (-44.30%) contributed to the negative growth in merchandise exports in August 2015 while Pharmaceuticals (13.33%), Jute Products (57.07%), Handicrafts & handmade carpets (54.46%) and Tea (10.68%) registered a growth. Imports also registered a decline of 9.95% at USD 33.74 Billion in August 2015 compared to August 2014. The decline in Rupee terms is around 3.77%. The imports ...