Other Economic update

vChina Government has decided to announce major Economic & social reform after 25 Years in phased manner . As one of its reform it has Indicated to widen the Yuan “Daly trading band” and reduce market intervention 

 

vIran negotiating with Major World Economic power , for possible partial lifting of sanctioned imposed on its Economy . Break through in this negotiation will impact Global Crude Oil price as price  is expected to fall .

  

vChina Forex reserve has touched USD3700 Billion ( as against India  of  Appx USD 290 Billion )

 

v All major Global currency are trading weaker against USD ( Euro at 1.34 , GBP 1.60  & Yen 100.36) 

 

vOctober WPI Inflation remain higher at 7% , which is eight Month high. ( September  à 6.46% ) . Chances of RBI hiking interest rate once again has increased  which will be impacting growth .

 

vIndirect Tax collection grown at slow pace of 5.3% in April~Oct 13 period as against Govt Target  of 19% for FY14 . Lower  Tax collection  will put serious pressure on fiscal Deficit & Government may not be able to reach the 4.8% target of FY14