DEAR ESTEEMED READERS,
On persistent demand from you we are pleased to announce that we would be regularly running an economic pulse column providing you with a digest of critical domestic & international economic events of the day. (EDITOR)
Sensex recovers: (January 08, 2016)
A steadier yuan on Friday helped calm frazzled investors and the benchmark BSE Sensex gained 0.33 percent at close, but shed 4.7 percent during the week. Both the NSE and BSE have recorded their worst weekly performance since Nov. 18, 2011. The broader NSE Nifty ended 0.44 percent higher but lost about 4.54 percent during the week.
Yuan fall to help China’s trade Vs India: (January 08, 2016)
Trade Minister Nirmala Sitharaman said the yuan’s fall would worsen India’s trade deficit with China.
While the government would not rush into any action, she said it had discussed likely steps it could take to counter an expected flood of cheap steel imports with domestic producers and the finance ministry.
India’s trade deficit with China stood at about $27 billion in April-September FY16 compared with $49 billion in FY15.
Crop damage insurance for farmers likely: (January 08, 2016)
The government will launch a major crop damage insurance scheme for farmers in the fiscal year starting April 1, Agriculture Minister Radha Mohan Singh said on Friday.
Global stocks recover: (January 08, 2016)
Global markets heaved a sigh of relief.The Shanghai Composite Index on Friday closed 2 percent higher after falling as much as 2.2 percent. Regulators removed the circuit breakers after their futility became apparent in controlling volatility on Monday and Thursday. The People’s Bank of China (PBOC) entered the market and set the currency’s reference rate in a two percent band following an eight-day experiment with weaker band rates that caused upheaval in global markets.