01-19-2005, 07:43 AM
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Indian Economy: Growth -2
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01-19-2005, 09:02 AM
In attaining a comparatively more mature level of political development, India has solved the biggest long-term challenge facing China.
01-21-2005, 10:47 PM
India: A Nation Of Dropouts
If govt has to get involved there should be an alternative to the scam that is going on right now. Opening schools is a big business. I know goondas who have become principals of the schools. They make money when they hire teachers - primary teacher post is probably around 1.5 lakhs (my data might be little old). They make money from govt while getting grants. I have heard about commissions from teachers for pvt tutions. And the shoddy way they run their schools is just pathetic. Just mindless increase in govt spending is not going to do anything. Innovative approaches like school vouchers etc need to be given a thought. People should have choices.
01-22-2005, 03:56 PM
<b>INDIAN FOREIGN EXCHANGE RESERVES AS ON 14-01-2005 : US DOLLARS 129.378 BILLION â AN INCREASE OF USD 266 MILLION - OVER THE PREVIOUS WEEKâS RESERVES</b>
TOTAL RESERVES : RUPEES 5,67,199 CRORES - USD 129.378 BILLION FOREIGN CURRENCY ASSETS : RUPEES 5,40,995 â USD 123.374 BILLION GOLD : RUPEES 19,969 CRORES - USD 4.582 BILLION SDRs : RUPEES 22 CRORES - USD 5 MILLION RESERVE POSITION IN IMF : RUPEES 6,213 CRORES - USD 1.417 BILLION BREAKDOWN OF INCREASE : CURRENCY RESERVES : INCREASED BY USD 252 MILLION RESERVE POSITION IN IMF : INCREASED BY USD 14 MILLION Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->
01-24-2005, 08:41 PM
<b>Infrastructure growth slows down to 3.6% in Dec</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Infrastructure growth slowed down to 3.6 per cent in December 2004 from 7.8 per cent a year ago, owing to fall in petroleum and steel output. </b>
The core sector, comprising crude oil, refinery, coal, cement, electricity and steel, grew by 5.4 per cent during the first nine months of this fiscal compared to 5.8 per cent during the same period last fiscal, according to Government data released on Monday. In December, output of petroleum products recorded negative growth of <b>0.3 per cent against 3.1 per cent a year ago</b>, <b>electricity decelerated to 4.4 per cent from 5.4 per cent </b>and finished<b> steel recorded negative growth of 0.5 per cent as against 14.3 per cent last fiscal</b>. Coal production went up by <b>7.7 per cent in December 2004 as compared to 6.7 per cent in December 2003</b>, while cement recorded an impressive growth of 8.3 per cent in the month under review against the previous year's 5.5 per cent. In the<b> first nine month of this fiscal, cement and coal production increased by 6.9 and 6.8 per cent respectively over 5.6 and 3.9 per cent </b>during April-December 2003. <b>Electricity generation grew 6.5 per cent during April-December 2004 over 3.4 per cent during the year-ago period</b>. <b>Petroleum products slipped by 6.7 per cent during the first nine months of this year as compared to 7.2 per cent </b>during the corresponding period of the previous year. <b>Crude oil grew by 2.9 per cent this year as compared to the previous year's negative growth of 0.5 per cent.</b> <b>Finished steel declined by 3.8 per cent this year from 12.2 per cent </b>during the year-ago period. <!--QuoteEnd--><!--QuoteEEnd-->
01-26-2005, 05:03 AM
From domestic power to international player - Red Herring
Its amazing what this company has achieved and its even more amazing what they will loose due to bickering. Who knows maybe it will be for the best. Lets hope for an amicable settlement. Maybe 2 reliances will be better then one.. <!--emo&:rock--><img src='style_emoticons/<#EMO_DIR#>/rock.gif' border='0' style='vertical-align:middle' alt='rock.gif' /><!--endemo--> <!--QuoteBegin-->QUOTE<!--QuoteEBegin-->In 1996 it cost the equivalent of $1 a minute to make a phone call in India, so the majority of Indians mailed postcards instead. Today, millions of Indians have leapfrogged ahead, sending digital postcards, booking rail tickets, and watching Bollywood movie trailers over the latest model mobile phones, thanks in large part to Reliance Infocomm, which has shaken the domestic telecommunications market in India to its core. In addition to being Indiaâs largest mobile provider, Reliance became a global telecom power overnight when it purchased one of the largest fiber-optic networks in the world in 2003, Fiber Link Around the Globe (FLAG), which stretches 55,000 kilometers, spanning four continents and touching 75 percent of the worldâs population. FLAG transports traffic for over 180 of the worldâs largest telecommunications operators and Internet service providers as well as large corporate clients like Samsung Networks.<!--QuoteEnd--><!--QuoteEEnd--> It really is mind-boggling.
01-27-2005, 06:58 PM
`Process of forming Mangalore SEZ under way'
Our Bureau Mangalore , Jan. 26 THE District in-charge Minister of Dakshina Kannada, Mr Jabbar Khan Honnali, has allayed apprehensions about the proposed investments in the coastal special economic zone (SEZ) in Mangalore, and said that it will definitely come up in Mangalore. Addressing presspersons after attending the Republic Day celebrations here on Wednesday, Mr Honnali said a group of oil companies, led by Mangalore Refinery and Petrochemicals Ltd (MRPL), would invest in the project. The Deputy Commissioner, Mr Aravind Srivastav, who was present at the press conference, said that the process of forming the SEZ was under way. A special purpose vehicle (SPV) will be formed soon to implement the project. Apart from MRPL, other oil companies are also likely to invest in the project. Mr Srivastav said the National Institute of Technology, Karnataka (NITK) at Surathkal near here has been asked to prepare a digitised map of the area to locate industries in the proposed SEZ. Even the New Mangalore Port Trust (NMPT) wants to participate in the project. Mr Honnali said that the Government will also give priority for developing information technology park in Mangalore, as there is a good potential for locating the IT companies here. Already many IT companies have shown interest to locate their units here. Stating that the railway connectivity with Bangalore is essential for the growth of the region, the Minister said he will work for the speedy completion of the Mangalore-Hassan railway line project. Priority will be given for the conversion of Mangalore-Bangalore highway into a four-lane one, he added.
01-29-2005, 07:48 AM
THE RISING RUPEE
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->India Should Not Fritter Away The Golden Opportunity By BHARAT JHUNJHUNWALA The price of the rupee has risen from Rs 49 per dollar about a year ago to Rs 44 per dollar presently. It is expected that this upward movement will continue. Ours is fast becoming the worldâs No 1 economy. Scientists, engineers, doctors and architects are available aplenty in our country at relatively low wage rates. These technocrats are absorbing the frontline technologies of the Western countries speedily. Nay, they are often creating those technologies. Simultaneously, our businessmen have braced up to face global competition. We have got the winning combination of entrepreneurship and cheap labour. Our exports in business process outsourcing, software, gem and jewelry, garments, etc are dominating the world market. Share markets Foreign investors have noted this success. They are investing large amounts in our share markets. They expect our companies to make huge profits in the near future. They have to buy rupees in large quantities to make these investments. This is leading to higher demand for the rupee hence the increase in its price. Another reason is the large amounts of remittances being sent by the NRIs. Our mothers produced large number of children for export! Nehru established the IITs and provided them with scientific education. Our NRIs are in demand across the world. The three reasons for the rise of the rupee are exports, foreign investment and remittances. Will this rise be stable or short-lived? Other countries have not been able to make similar fortunes permanent. Germany was the star performer in the sixties. The German companies like Siemens and Mercedes Benz were dominating the world market and the Mark was rising. Japan had a similar situation in the seventies and eighties. The price of Yen increased from 350 per dollar to 80. A similar situation prevailed in the nineties in the United States. The dollar rose against the Euro, Yen and other currencies. But the dollar has started declining in this decade. Everyone worships the rising sun. The investors pumped in money into these economies at these times. But these countries were not able to maintain their excellence and soon they had to vacate the top place. Now it is the turn of India. Foreign investors have turned toward the rupee. Will we be able to make this rise permanent or slide like Germany, Japan and the US after a few years? These countries lost their balance at the time of rise and frittered away their wealth. Germany used the income to establish a heavy welfare state. The government made strict labour laws relating to minimum wages, hours of work, health benefits, etc. High level of tax was imposed on the companies to provide unemployment compensation, health care and housing to the people. As a result, the price of labour rose and German companies did not have enough surpluses to invest and they lost in global competition. Bonhomie Japanâs decline came in a different way. There was a cosy relationship between the government and the business in that country as if their finance minister was being run by the large companies. This bonhomie produced excellent results initially. Enamoured by their success, they made irresponsible investments and incurred heavy losses. The regulatory function of the government suffered and the companies were unable to maintain prudent financial behaviour for long. But the government continued to encourage the banks to give them huge loans. The companies became hollow inside. Ultimately, the balloon burst and new loans stopped pouring into the companies. Japanese companies lost their competitiveness in the global market. The US has been the centre of technological innovations of the last century. Motor car, nuclear power, jet airplane, computer and the internet are all gifts of that great country. Hard working American scientists produces these wonderful innovations. America is the land of the risk-takers who left their European homeland to seek a new life in an unknown country. They were determined to become rich. They became rich. But soon they became easy-going. They were not able to maintain a balance in success. The IQ of American children is low nowadays. American applicants are unable to compete with Indians for jobs in America. The generation of new technologies in the US is slowing down. Research is increasingly being outsourced to India. As a result, the No 1 position of the US companies is under pressure. Investors are losing confidence and the dollar is declining. The challenge before us is not to make the mistakes made by these great countries and to make the rise of the rupee stable and permanent. We have to use the capital inflows prudently. It appears, however, that the Manmohan Singh government is implementing those very policies that led to the decline of Germany, Japan and the US. The government has started imposing higher taxes on the companies to support a bloated welfare state. Government expenditure on education is being raised despite the poor results of these schools. The Employment Guarantee Scheme is being made despite few durable assets being made in other similar schemes. We are creating a welfare state like Germany. The correct policy is to provide relief in taxes to labour-intensive industries and impose high taxes on capital intensive one. Such cross-subsidisation will lead to generation of jobs and there will remain no need to support a bloated government welfare bureaucracy. Two pillars The government has appointed Ratan Tata chairman of the Investment Commission. Indeed, it is heartening that the government is reposing faith in our industrialists. But there is a difference between honouring the businessman and handling over the reins of the government to them. Friction between these two pillars of society is the best policy. Japan had eliminated this friction leading to decline of its businesses. The government is repeating this mistake. The US used the capital inflows not to invest but to import goods from across the world for consumption. The current trade deficit â excess of import over exports â is in the excess of $500 billion per year. This is being financed by capital inflows. Borrowed money is being used to provide consumption goods to the American people. Not hard work, but ostentatious consumption is being held as the desired role model. No wonder the American people are losing out in competition. Our government is following a similar policy. It is trying to attract all types of foreign investment irrespective of its impact on our society. It should instead make a social audit of all domestic and foreign investment. The rupee is rising. World capital is turning towards India. We should not fritter away this golden opportunity by making the mistakes made by others. We should use this capital in the right way so that we are able to maintain ourselves as No 1 economy in perpetuity. <!--QuoteEnd--><!--QuoteEEnd-->
01-29-2005, 02:34 PM
<b>INDIAN FOREIGN EXCHANGE RESERVES AS ON 21-01-2005 : US DOLLARS 129.429 BILLION â AN INCREASE OF USD 51 MILLION - OVER THE PREVIOUS WEEKâS RESERVES</b>
TOTAL RESERVES : RUPEES 5,66,552 CRORES - USD 129.429 BILLION FOREIGN CURRENCY ASSETS : RUPEES 5,40,392 â USD 123.433 BILLION GOLD : RUPEES 19,969 CRORES - USD 4.582 BILLION SDRs : RUPEES 22 CRORES - USD 5 MILLION RESERVE POSITION IN IMF : RUPEES 6,169 CRORES - USD 1.409 BILLION BREAKDOWN OF INCREASE : CURRENCY RESERVES : INCREASED BY USD 59 MILLION RESERVE POSITION IN IMF : DECREASED BY USD 8 MILLION Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->
02-05-2005, 04:22 AM
E-education, the new outsourcing mantra
http://www.moneycontrol.com/backends/News/...news_detail.php? autono=160763&headline=Outsourcing~Tutors <!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Indian tutors are latching onto the outsourcing business. EPO is the latest. After the software services outsourcing controversy, the spotlight has turned to a little known professional group-- Indian tutors are now emerging on the world stage. But the fledgling industry is still under wraps. The new offshoot of India's outsourcing business is e-education. Anita is among Career Launcher's five teachers who conduct personal classes with children in America. Sitting in her small cubicle, fitted with a headset and pen mouse, Anita works on pre-designed content packages. Anirudh Phadke, Principal Consultant,Career Launcher said, "Several pilots, tutoring in the US are four years old but the non-voice platform is a year old. March last year started with a pilot and now it's a live project." It all began with President Bush's emphasis on education at the start of his first term in office. Bush's campaign forced schools to become result-driven. Sensing an opportunity, entrepreneurs like Career Launcher stepped in to offer live tutorials via the internet. A natural progression from BPO, EPO or education process outsourcing, is India's new emerging service offering. <b>According to one estimate, the US needs close to 1 million teachers over the next 10 years.</b> Career Launcher cashed in on its e-tutoring experience in India and the Middle East to start the service. Satya Narayanan, Chairman, Career Launcher said, "For live tutoring this plus curriculum development, monitoring, testing/evaluation. Each of these can be outsourced." There are just three players in this business. Given the shortage of teachers in the US, industry observers expect the number to go up to 500 players by the year-end.<!--QuoteEnd--><!--QuoteEEnd-->
02-05-2005, 08:08 PM
IMF pegs India's growth at 6.5%, cautions on deficit
Despite the spurt in world oil prices and a disappointing monsoon, the International Monetary Fund expects India to end 2004-05 with a "robust" growth of 6.5 per cent. The projection represents a marginal trimming from the 6.7 per cent forecast last September but a significant drop from the previous year's 8.5 per cent surge, which happened to be the highest in over a decade. In its annual review of the Indian economy, the IMF commended the Manmohan Singh Government's "ambitious reform agenda" and said rapid progress on this score would be essential for India to build on recent successes and achieve its full potential. "This year, firms appear to have embarked on a new investment cycle, underpinned by strong credit growth," said the review, which also took note of the comfortable balance of payments position and the strong financial market confidence. In the otherwise positive assessment, the IMF's executive directors once again highlighted their concerns on the fiscal deficit front. "India's large fiscal deficits and public debt remain a key constraint on sustained rapid growth," they noted. It was also pointed out that without enhancing tax revenues and reducing lower priority spending, it would be hard to adequately address India's large infrastructure needs. "Fiscal consolidation is a prerequisite for more complete financial sector development and further opening up of the external sector," they noted and recognised the Fiscal Responsibility and Bmisgunnenet Management Act as a good framework for restoring fiscal sustainability. On the inflation front, the IMF expects the wholesale price index to drop from 6.5 per cent at the end of the current fiscal to 5.5 per cent in 2005-06. After rising to 8.7 per cent last August due to the rising oil prices and weak monsoon, the index has decelerate to 5.5 to 6 per cent more recently. While on reforms, they welcomed the recent reduction in small-scale reservation and the relaxation of some sectoral caps on foreign direct investment. They, however, wanted the business climate enhanced by "easing the burden of regulation and liberalising the restrictive labour laws". The directors underlined the importance of introducing the state value-added tax (VAT) as planned on April 1, broadening the personal and corporate income tax bases and appropriate targeting of subsidies.
02-06-2005, 12:41 AM
<b>INDIAN FOREIGN EXCHANGE RESERVES AS ON 28-01-2005 : US DOLLARS 129.720 BILLION â AN INCREASE OF USD 291 MILLION - OVER THE PREVIOUS WEEKâS RESERVES</b>
TOTAL RESERVES : RUPEES 5,67,825 CRORES - USD 129.720 BILLION FOREIGN CURRENCY ASSETS : RUPEES 5,41,643 â USD 123.719 BILLION GOLD : RUPEES 19,969 CRORES - USD 4.582 BILLION SDRs : RUPEES 22 CRORES - USD 5 MILLION RESERVE POSITION IN IMF : RUPEES 6,191 CRORES - USD 1.414 BILLION BREAKDOWN OF INCREASE : CURRENCY RESERVES : INCREASED BY USD 286 MILLION RESERVE POSITION IN IMF : INCREASED BY USD 5 MILLION <b>Times of Islamabad : India's forex at $291 mn</b> <!--emo&:furious--><img src='style_emoticons/<#EMO_DIR#>/furious.gif' border='0' style='vertical-align:middle' alt='furious.gif' /><!--endemo--> Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->
02-06-2005, 03:11 AM
<b>INDIA'S GDP USD 800 BILLION???</b>
<b>BUDGET TO SPUR INVESTMENT, GROWTH : FM</b> <b>LONDON: With India's GDP nearing $800 billion and <span style='color:red'>exports of goods and services at a record $133 billion</span>, FM P Chidambaram on Friday hinted at a "mix of policies" to spur investment and growth, three weeks ahead of the budget.</b> "Today India is confident and optimistic... This has given us foundational strengths for erecting a mix of policies that will push the rate of growth further," Chidambaram said at a conference organised as part of the G-7 summit here. With the economy logging 7.5% growth in many years, he said India has the potential to grow at 10%. FM also urged the developed countries to review the process of globalisation and make it more inclusive, just and equitable so that the developing countries could benefit from its prosperity. "As of today, the terms are heavily weighted in favour of developed countries," FM said at the foreign policy centre here. The invitation to India to attend the G-7 rich nations meet underlines the growing influence of its economy that has become too big and potentially influential to ignore. India's participation, alongside China, Brazil, Russia and South Africa, will be its first ever in a G-7 (including US, Japan, Germany, Britain, France, Italy and Canada) meeting. The G-7 is increasingly interested in India because the country's economic clout, from back-office outsourcing to demand for resources, is growing rapidly. <b>Reeling out statistics, Chidambaram said India's GDP at market prices was nearly $800 billion annually, exports of goods and services touched $133 billion and net capital inflows averaged $19 billion a year.</b> "India today is a beehive of ambitious individuals and firms," he said, adding a new aspect of India's globalisation was outward FDI by Indian companies that are now confident of turning into MNCs. "Indian companies are hungry to go abroad, acquire manufacturing firms as well as brands, and position themselves at the doors of new markets. Indian companies are seen as potential major players in the world market," he said. "With new challenges, we must find new ways of organising global architecture in response to new poles of economic strength."
02-07-2005, 07:35 AM
Microsoft bets big on Gujarat
BS Regional Bureau in Ahmedabad February 05, 2005 http://us.rediff.com/money/2005/feb/05micro.htm
02-08-2005, 08:28 AM
(fwd)
===== Published last month in "The News International" A Pakistan's "Outlook " Types By "Mr. Masood Khan" - World's 5 largest car companies are procuring their spare parts from India. In 2002, the export was Rs.1700 Crores and it quadrupled in 2003 to Rs.7000 Crores. In the next 5 years this will cross Rs.70, 000 Crores. India's HERO HONDA is the world largest Motorcycle manufacturing company. It manufactures 17 lacs motorcycles per year. England's popular Rover car company is going to manufacture TATA INDICA the Indian technology car at the rate of 1 lac cars per year. "BHARAT FORGE" had emerged as the largest forging company in the world and supplies its products to world popular companies like Volvo, Toyota, Honda, etc. "ASIAN PAINTS" an Indian paint company has its Manufacturing plants in 22 countries across 5 continents and is the market leader in 11 countries. "HINDUSTAN INKS" an Indian ink manufacturing company is producing world largest 1 lack ton Ink per annum with its manufacturing branches at Europe & America. "Esselpack" an Indian Company has manufacturing plants in 11 countries and World's 25 %, Pastes and medicines are packed in their laminated films/tubes. Many Indian Industries keep getting world popular awards. The Austin car company has given order to an Indian company for new designs. Multinational car companies like Suzuki, Hyundai & Ford have started exporting their cars from India and by 2010, they will export around 5 lac cars from India. Indian Medicine sector manufactures products worth Rs.30, 000 crores per year out of which Rs.10, 000 crores are exported. Due to better performance of Indian Industrial sector their share in Indian market has raised from 25 to 65% where as the multinationals share reduced from 75 to 35%. Indian Herbal business grown to Rs. 4,000 crore per annum India contributes 20% of world's textile manufacturing. India is proudly established its own Super Computer where as the other Super computer established countries are only America & Japan. India is one among the 6 countries, which can build and launch Satellites. Even technologically advanced countries like Germany & Belgium yet to do that. Due to INSAT Organization, India had become the very big national satellite network country in the World. 9 out of 10 Diamonds in the world are cut & polished in India being the no.1 Diamond works country in world. India & China's business has grown to 104% within a year. India's foreign reserve had risen from US$ 82 billion to US$.118 billion India had returned back the IMF loan before the due date and started funding other countries. Indian software is perfect but just 1/10th of the world prize. India provides software to 7 out of 10 largest CD-ROM manufactures in the world. India spends only Rs.70, 000 for producing a MBA whereas in America the expense is Rs. 54 Lakhs. The Eye Cataract operation in India costs only Rs.600 where as in America Rs. 7000. A Heart surgery in India costs only Rs.40, 000 where as in America it is Rs. 6 lakhs. The R&D expense to make a car in America is Rs. 4,500 crores whereas in India in half of its expense the R&D is done with same perfection. ( Sir Tata told me they invested 1,700 Crores for India Project - DNN Editor) More than 70 multinational companies have established their R&D centers in India. Indian telephone & Internet network expanding by crore in numbers. 100 out of Fortune 500 companies have come to India to do business while only 33 have gone to China. So, India is making jumping progress in the World's market, which is ranging from Brazil to China, According to Mr. Masood Khan "these developments have not come in a day or two or by luck. Indian circumstances are very similar to that of Pakistan like Dirty politics, Corruption, arrogant officials, poor infrastructure etc. But still India keeps growing every day and nobody can deny the fact. <b>This happens because the Indian people are not just seeing the dirty problems around them but they also see the confidence star on the sky, the growth opportunity and working for it with self motivation having a target for progress".</b> <!--emo&:rocker--><img src='style_emoticons/<#EMO_DIR#>/rocker.gif' border='0' style='vertical-align:middle' alt='rocker.gif' /><!--endemo-->
02-09-2005, 07:42 AM
India needs $460 bn FDI in 10 years
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->India needs $460 bn FDI in 10 years Wednesday, December 22, 2004 BANGALORE: India will need $480 billion in foreign direct investment (FDI) over the next 10 years to become a developed nation, Infosys chairman N.R. Narayana Murthy said here Tuesday. Inaugurating the Standford-India Development Conference 2004 at the Infosys campus, he said though Prime Minister Manmohan Singh had hinted India would need $150 billion to develop infrastructure, the amount may be inadequate to make India economically strong in the coming decade. "My gut feeling is we should get about $480 billion FDI in the next 10 years if we really aspire to be economically strong," Murthy said in his opening remarks.<!--QuoteEnd--><!--QuoteEEnd-->
02-10-2005, 05:43 PM
<!--QuoteBegin-k.ram+Feb 8 2005, 08:28 AM-->QUOTE(k.ram @ Feb 8 2005, 08:28 AM)<!--QuoteEBegin--> (fwd)
===== Published last month in "The News International" A Pakistan's "Outlook " Types By "Mr. Masood Khan" - World's 5 largest car companies are procuring their spare parts from India. <!--emo&:rocker--><img src='style_emoticons/<#EMO_DIR#>/rocker.gif' border='0' style='vertical-align:middle' alt='rocker.gif' /><!--endemo--> <!--QuoteEnd--><!--QuoteEEnd--> k.ram, Please let me have a link to the Article as I store such "moaning and groaning" on disk. Thanks
02-11-2005, 12:47 AM
k. ram,
Sorry for the bother. I have the Article on disk - it is by Masood <b>Hasan</b> Masood Khan is a Spokesman of the Pakistani Ministry of Foreign Affairs with the Rank of Director General. Thanks
02-12-2005, 03:50 PM
<b>INDIAN FOREIGN EXCHANGE RESERVES AS ON 04-02-2005 : US DOLLARS 128.914 BILLION â A DECREASE OF USD 806 MILLION - OVER THE PREVIOUS WEEKâS RESERVES</b>
TOTAL RESERVES : RUPEES 5,60,486 CRORES - USD 128.914 BILLION FOREIGN CURRENCY ASSETS : RUPEES 5,35,148 â USD 123.107 BILLION GOLD : RUPEES 19,181 CRORES - USD 4.390 BILLION SDRs : RUPEES 21 CRORES - USD 5 MILLION RESERVE POSITION IN IMF : RUPEES 6,136 CRORES - USD 1.412 BILLION BREAKDOWN OF DECREASE : CURRENCY RESERVES : DECREASED BY USD 612 MILLION GOLD RESERVES : DECREASED BY USD 192 MILLION RESERVE POSITION IN IMF : DECREASED BY USD 2 MILLION Cheers
02-14-2005, 04:14 AM
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