Yes, we are scheduled for another interest rate hike this week
The Reserve Bank of India will have to opt for another rate hike soon. The Hindu Business Line expects the central bank to increase rates (repo and reverse repo rates) by 25 basis points or 0.25% on June 16. Inflation continues to stay at over 9%. The slowdown in industrial production could push the central bank to raise rates steadily. Except for exports, every other economic indicator points to moderating growth for 2011-12. This has repercussions for the central government's fiscal deficit targets, says the Business Standard. Missing fiscal deficit targets would mean the government will have to print more money to meet the estimated expenditure. This could add to the inflation.
Energy shortage estimated to shoot to 12.9%, this fiscal
The Central Electricity Authority (CEA) expects India to face more energy shortages this year. The regulator has projected an overall energy shortfall of 10.3% and a peak shortage of 12.9% in the country during the current financial year (2011-12). In the previous financial year, energy shortage was 8.5% and peak shortfall 9.8%, a report in the Business Standard said. The peaking shortage in the current financial year would prevail in all the regions, varying from 5.9%in the north-eastern (N-E) region to 14.5% in the south. The projected energy shortage in N-E will be 7.7%, compared to 11% in the western region. CEA has estimated a capacity addition of 17,191 Mw during 2011-12, comprising 14,111 Mw of thermal, 2,080 Mw of hydro and 1,000 Mw of nuclear power stations.
23.5 million watched 785 million videos in January 2011
Viewing films on the internet is gaining popularity in India. ComScore Video Metrics suggests that 23.5 million viewers watched 785 million videos on Google sites, with consumers averaging 1.7 viewing hours during January 2011, according to a report in the Business Standard. "Youtube has accounted for 780.7 million videos, representing 44.5 per cent of all videos viewed in India," the report said. Youtube BoxOffice, is a new service, that offers online streaming of Hindi movies. While consumers can stream these movies for free, the site hopes to make money from advertisers. Last month, the site featured Dabbang and clocked over 1.3 million views.
Published Date: Jun 13, 2011 09:42 am | Updated Date: Dec 20, 2014 03:52 am