Economy
India likely to see gradual growth recovery: Morgan Stanley
The Indian economy is expected to experience a gradual and sustainable recovery and post GDP growth of 7.5 percent this fiscal, American financial services firm Morgan Stanley said in a report on Tuesday.
 
"We expect a slightly slower pick-up in growth trajectory, given the trailing weakness from external demand and concerns about agriculture growth, with related impact on rural consumption," Morgan Stanley said in a research note.
 
"We expect GDP growth (new series, on market prices) to accelerate gradually to 7.5 percent in financial year 2016 and 8.1 percent in fiscal year 2017," it said.
 
India is decidedly moving out of the macro-economic adjustment phase and into the recovery phase aided by government policy actions and the Reserve Bank of India's (RBI) monetary policy response, the brokerage firm said.
 
However, it would be a "longer-duration expansion cycle for India with low risks of overheating in the next two years, considering the overall policy approach of the government and RBI", it added.
 
The report said the upside and downside risks to the forecast will be influenced by two key factors - the pace of policy actions to revive productivity dynamics and improve the growth mix, and the strength of external demand recovery and trend in capital inflows into emerging markets.
 
"We currently see risks to our growth outlook as evenly balanced," it said.
 
Meanwhile, the government's mid-year review released last week sharply lowered the economic growth forecast for the current fiscal to the 7-7.5 percent range, from the previously projected 8.1-8.5 percent, mainly because of lower agricultural output due to deficit rainfall. 
 
It also said there may be a need to reconsider next year's fiscal deficit target of 3.5 percent.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

No coercive steps over call drops till January 6: TRAI to HC
The Delhi High Court was on Tuesday informed by the TRAI that no coercive steps would be taken against telecom companies till January 6 in connection with call drop compensation norms.
 
The Telecom Regulatory Authority of India (TRAI) told the division bench of Chief Justice G. Rohini and Justice Jayant Nath that it would not take any coercive steps against telecom companies till January 6, the next date of hearing. However, it said the policy would come into force from January 1 as was decided.
 
The court was hearing a plea of telecom operators for a stay on TRAI's compensation policy for call drops, under which a rupee will be credited to the mobile users' account for every call drop (restricted to three per day) starting January 2016.
 
Companies termed the order of TRAI as contradictory and destructive and sought quashing of the October 16 order mandating services provider to pay subscribers Re.1 per call drop experienced on their network, subject to a cap of three a day.
 
They said the TRAI does not have the power to grant compensation to end-subscribers under the TRAI Act and the decision to grant compensation is "without authority of law, without jurisdiction and is illegal".
 
The companies said the penalty was being levied without considering the infrastructure problems faced by the companies.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Depressed techie injures 24 in stabbing spree, shot dead
A techie, who was depressed after failing to clear the civil services exams, went on a stabbing spree on Tuesday injuring 24 people, before police shot him down.
 
The incident took place in Karimnagar town of Telangana.
 
According to police, 25-year-old Balvinder Singh attacked his parents with a sword following an argument at home.
 
Singh, who works for a software firm in Bengaluru, then stepped out to attack passers-by, leading to panic among people. Some pedestrians, two bikers and an auto-rickshaw driver were injured.
 
Police, who swung into action after learning about the incident, also came under attack. A constable who tried to snatch the sword from the man sustained injuries.
 
As the situation slipped out of control, circle inspector Vijay Sarathi opened fire to disarm the man. A critically injured Singh was taken to a hospital, where he died.
 
Singh's parents and others who received grievous injuries were under treatment.
 
According to family members, Singh was a meritorious student since school. He stood sixth in the engineering, agriculture and medical common entrance test (EAMCET) in the district.
 
After engineering in electronics, he got a job in Bengaluru and was earning Rs.18 lakh a year.
 
Singh had a dream of passing the civil services exam. However, he failed to qualify and as a result went into depression.
 
The man apparently lost his mental balance and was having frequent fights with his parents.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

COMMENTS

Suresh

1 year ago

Why couldn't the police officer shoot him below the waist? Was it necessary to kill him? Shouldn't the officer be held accountable for taking a human life unnecessarily? Its time some drastic changes are implemented in recruiting and training of policemen!

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)