The Indian economy is growing faster than the officially quoted 8%-8.5% GDP growth rate, said KV Kamath, the newly appointed chairman of Infosys Technologies.
At a meet-the-press event here on Saturday, Kamath said India is actually growing at 11%-12%. Kamath said the economic data used to compute growth rates are not accurate. "As long as we don't have the right statistics, there is a question over the growth rate," he said.
There are several uncounted and unaccounted figures which could easily add another 3-4 percentage points to India's GDP, he said. India, he said, is thus growing at the double-digit rates we have become used to seeing in China in recent years and Japan in the 1980s. As for India's per capita income, Kamath said India stands where China was 10 years ago, and in the next 10 years, it will stand at where China's per capita income stands today. Kamath said for this growth to be truly transformational and benefit a larger proportion of the masses, India has to put more emphasis on certain areas.
The manufacturing sector must further expand as it has the capacity to generate large-scale employment. Infrastructure bottlenecks must be addressed as they hinder development.
Also, consumer demand must be kept robust to drive the economy. He said technology too could help in greater percolation of benefits to the poor. The use of the unique identification platform for cash-transfer schemes using Aadhaar-linked bank accounts would prevent leakages in subsidy programmes like LPG and kerosene. On the high interest rate environment, Kamath said the most affected would be retail customers who take home loans, auto loans, etc. Businesses can tide over these times with internal accruals, he said.
Sunday, July 10, 2011
latest news : 35 killed, 200 injured as Delhi-bound train derails
At least 35 people were killed and over 200 injured when 15 bogies of a speeding Delhi-bound Kalka Mail derailed here today in the worst train accident this year.
The derailment took place at 12.20 PM when the packed train from Howrah reached near Malwa station, nearly 120 kms from Lucknow.
"15 bogies of the train derailed out of which 10 are in bad shape. The exact cause of the derailment is being ascertained. The commissioner of railway safety has been directed to probe the incident," General manager, North Central Railway HC Joshi said.
He said the train was speeding at about 108 kmph when the accident occurred. "It was almost moving at the speed of 108 kmph which is full speed," Joshi said.
Chief medical officer (CMO), Fatehpur, KN Joshi said 35 of the passengers had died. "About 200 injured are undergoing treatment here."
"Rescue workers have not been able to enter two of the bogies," Superintendent of Police, Fatehpur, Ram Bharose said, adding the dead included women and children.
While some of the bogies had toppled, others were turned into mangled heap of metal. The crowded general compartment behind the engine was the worst hit. Gas cutters and other equipment were used to cut through the metal in the AC and other coaches to rescue the trapped passengers.
"A number of passengers are still inside the bogies and attempts are on to take them out," officials said several hours after the accident.
Locals, railway and district authorities immediately launched the rescue operation. The army has also sent about 120 personnel from adjoining Allahabad and Kanpur to assist them. A team of National Disaster Relief Force was also deployed.
Two relief trains -- one each from Allahabad and Kanpur -- have reached the spot. Another relief train was also sent from Delhi, minister of state for railways Mukul Roy said, adding helplines have been opened at both the Howrah and Delhi stations.
Roy said families of the dead would be given an ex-gratia of Rs five lakh, while the seriously injured would get Rs one lakh and those with minor injuries would be given Rs 25,000.
Meanwhile, anxious relatives and friends of the passengers, many of them in tears, gathered at Howrah, Kanpur and other stations to enquire about the fate of their loved ones. However, they faced a difficult time as information was trickling in at a slow pace.
The Eastern Railway said it will run a special train from Howrah to take relatives of passengers to Malwa.
Prime Minister Manmohan Singh has expressed deep sorrow and shock at the loss of lives in the rail accident and directed the railway ministry to deploy all available resources in the area for rescue and relief operations.
Singh also spoke to the minister of state for railways about the incident.
Uttar Pradesh chief minister Mayawati announced a compensation of Rs one lakh each to the kin of those who died, Rs 50,000 to seriously injured and Rs 25,000 for those suffering minor injuries.
The derailment took place at 12.20 PM when the packed train from Howrah reached near Malwa station, nearly 120 kms from Lucknow.
"15 bogies of the train derailed out of which 10 are in bad shape. The exact cause of the derailment is being ascertained. The commissioner of railway safety has been directed to probe the incident," General manager, North Central Railway HC Joshi said.
He said the train was speeding at about 108 kmph when the accident occurred. "It was almost moving at the speed of 108 kmph which is full speed," Joshi said.
Chief medical officer (CMO), Fatehpur, KN Joshi said 35 of the passengers had died. "About 200 injured are undergoing treatment here."
"Rescue workers have not been able to enter two of the bogies," Superintendent of Police, Fatehpur, Ram Bharose said, adding the dead included women and children.
While some of the bogies had toppled, others were turned into mangled heap of metal. The crowded general compartment behind the engine was the worst hit. Gas cutters and other equipment were used to cut through the metal in the AC and other coaches to rescue the trapped passengers.
"A number of passengers are still inside the bogies and attempts are on to take them out," officials said several hours after the accident.
Locals, railway and district authorities immediately launched the rescue operation. The army has also sent about 120 personnel from adjoining Allahabad and Kanpur to assist them. A team of National Disaster Relief Force was also deployed.
Two relief trains -- one each from Allahabad and Kanpur -- have reached the spot. Another relief train was also sent from Delhi, minister of state for railways Mukul Roy said, adding helplines have been opened at both the Howrah and Delhi stations.
Roy said families of the dead would be given an ex-gratia of Rs five lakh, while the seriously injured would get Rs one lakh and those with minor injuries would be given Rs 25,000.
Meanwhile, anxious relatives and friends of the passengers, many of them in tears, gathered at Howrah, Kanpur and other stations to enquire about the fate of their loved ones. However, they faced a difficult time as information was trickling in at a slow pace.
The Eastern Railway said it will run a special train from Howrah to take relatives of passengers to Malwa.
Prime Minister Manmohan Singh has expressed deep sorrow and shock at the loss of lives in the rail accident and directed the railway ministry to deploy all available resources in the area for rescue and relief operations.
Singh also spoke to the minister of state for railways about the incident.
Uttar Pradesh chief minister Mayawati announced a compensation of Rs one lakh each to the kin of those who died, Rs 50,000 to seriously injured and Rs 25,000 for those suffering minor injuries.
Indian ADRs: Tata Comm, ICICI Bank down 3-4%
Indian ADRs ended down on Firday. In Telecom space, Tata Communication was down 3.67% at $ 9.46 and MTNL was down 1.47% at $ 2.01.
In IT space, Infosys ended down 1.52% at $ 67.21 and Wipro ended down 0.87% at $ 13.61 while Patni Computers was up 0.98% at $ 15.41.
In Banking space,ICICI Bank was down 2.66% at $ 48 and HDFC Bank was down 0.56% at $ 181.53. In other sectors, Sterlite Industries was down 1.84% at $ 14.93, Tata Motors was down 1.46% at $ 23.70 and Dr Reddys Labs was down 0.69% at $ 34.76.
In IT space, Infosys ended down 1.52% at $ 67.21 and Wipro ended down 0.87% at $ 13.61 while Patni Computers was up 0.98% at $ 15.41.
In Banking space,ICICI Bank was down 2.66% at $ 48 and HDFC Bank was down 0.56% at $ 181.53. In other sectors, Sterlite Industries was down 1.84% at $ 14.93, Tata Motors was down 1.46% at $ 23.70 and Dr Reddys Labs was down 0.69% at $ 34.76.
Thursday, July 7, 2011
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Company is providing investment advisory services to small investrs to big institutional investers in India and abroad.Our client base is near about 400 + regular clients including day traders and investers.
Trade to profit India has estiblished it self a leading platform for every one wanna learn and earn from this highly lucarative market.
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2004. It is growing fater since than and now it is among the top companies providing trading as well as investment advisory services to traders,investers.
Company is providing investment advisory services to small investrs to big institutional investers in India and abroad.Our client base is near about 400 + regular clients including day traders and investers.
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Saturday, July 2, 2011
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Friday, July 1, 2011
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