Wed, Feb 27, 2013 at 16:06
INDIA-BUDGET-GOLD-RAGHURAM-RAJAN:Gold imports likely to fall on lower inflation: Rajan
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Gold imports likely to fall on lower inflation: Rajan
INDIA-BUDGET-GOLD-RAGHURAM-RAJAN:Gold imports likely to fall on lower inflation: Rajan
Like this story, share it with millions of investors on M3
Gold imports likely to fall on lower inflation: Rajan
INDIA-BUDGET-GOLD-RAGHURAM-RAJAN:Gold imports likely to fall on lower inflation: Rajan
NEW DELHI (Reuters) - India's gold imports are likely to come down because of lower inflation and more attractive financial instruments for saving, said Raghuram Rajan, the finance minister's top economic adviser, on Wednesday.
Gold, used as an inflation hedge by Indian savers, is a major driver of the country's record current account deficit and the government raised tariffs on imports of the metal this year. Inflation has trended downward in recent months.
(Reporting By Rajesh Kumar Singh; Writing by Frank Jack Daniel; Editing by Arup Roychoudhury)
highlights
- No hike in passenger fees by Railways
- Railways propose hike in Reservation fee, Tatkal charge
- Freight rates to go up by 5.8%
- Railways to launch 67 new express trains, 26 new passenger trains
flashes
- Economic Survey in favour of widening tax base and prioritising expenditure
- WPI inflation may decline to 6.2-6.6% in March
- Indian economy likely to grow at 6.1-6.7% in FY14
- FY13 GDP growth seen at 5%
InterpretationS
- Railway minister has done a commendable job in meeting competing demands of improving services and controlling expenditure: PM
- It is a reformist and forward- looking Budget: PM
- If you look at the overall Budget, it was relatively muted and there was nothing exciting and no steps were taken, which would make the market happy: ICICI Direct
- There is no major capex from the civil construction on the freight corridor, though some investments are coming on the metro side: KEC International
SECTOR IMPACT
Select Sector to see impact
- Cement - Major
- Infrastructure - General
- Mining/Minerals
EXPECTATIONS
expectation on: People
Saurabh Mukherjea
Head of Equities | Ambit Capital
expectation on: Markets
Ridham Desai
MD and Head Of India Research | Morgan Stanley
expectation on: Markets
Ashok Wadhwa
Group CEO | Ambit Holdings
expectation on: Business
Laurent Dhaeyer
MD | Ogone Asia and EBS
expectation on: Markets
Rajesh Iyer
Head Investments & Family Office | Kotak Wealth Management
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