GN Bureau | February 26, 2016
The economic survey 2015-16 shows that the prudent external debt policy of the government has resulted in external debt remaining within safe and comfortable limits and in containing its rise. India’s balance of payments (BoP) position remained comfortable during the first half of 2015-16. Low levels of current account deficit coupled with moderate rise in capital inflows resulted in rise in foreign exchange reserves of $10.6 billion in first half of 2015-16. India’s foreign exchange reserves at $351.5 billion as on February 5, 2016 mainly comprised foreign currency assets equal to $328.4 billion (93.4% of the total) and gold at $17.7 billion. Between April 2015 and January 2016, the average exchange rate of the rupee depreciated to Rs 65.04 per US dollar as compared to Rs. 60.92 per US dollar in April 2014- January 2015.
The growth in India’s exports declined year on year by 17.6% and they stood at $217.7 billion. The imports have also declined by 15.5% in the current financial year to $324.5 billion US dollars. Lower levels of Petroleum Oil Lubricants (POL) imports were the main reason for the decline in total imports this year so far. As a result, the trade deficit decreased to $106.8 billion as compared to $119.6 billion in the corresponding period of 2014-15. The economic survey further says that while exports slowdown may continue for a while before picking up in the next fiscal, continuance of low commodity prices globally augurs well for sustaining low trade and current account deficit.
Vani Jairam’s childhood dream of becoming a playback singer was realised when veteran film music composer Vasant Desai gave her the opportunity to sing Bole Re Papi Hara and two other songs in the movie Guddi. After that, the multilingual singer went on to sing for eminent music per
Should there be death penalty for those involved in lynching?
On May 23 this year, the ministry of environment issued ‘Rules on prevention of cruelty to animals (regulation of livestock market)’ with the purported aim of regulating animal markets. When one reads the rules – notwithstanding the lame efforts from union ministers to issue clarificati
BEML, a mini ratna category-1 enterprise of the defence ministry, has set a target of using 100 percent renewable energy for its own consumption. In this connection, BEML’s 9 MW Windmill Park installed at Bagalkot District in Karnataka was recently
Bharat Heavy Electricals Limited (BHEL), a Maharatna enterprise, has recorded nearly 14 percent growth in its intellectual capital in 2016-17 fiscal. During the year, a record 508 patents and copyrights were filed by the company, translating into filing of nearly two patents/copyrights
National Aluminium Company Limited (NALCO) has joined hands with the Confederation of Indian Industries (CII), Odisha, to organise outreach programmes for industries and other stakeholders on GST implementation. Series of interactive programmes are being