In a freewheeling conversation, Moses Harding, Group CEO and Chief Economist, Srei Infrastructure Finance Limited, says that he is bullish over the prospects of the infrastructure finance sector.
Tag: fiscal deficit
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Import bill for crude oil set to rise
India's import bill for crude oil is expected to rise sharply despite the fall in the international price of the fuel in recent months, because of depreciation in rupee. The global price of crude oil declined almost 10 percent since January 2013. However, the import bill of the country may rise because of depreciation rupee against the dollar, reports indicate
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Fitch upgrades India’s rating outlook
Global ratings agency Fitch Ratings upgraded the outlook on India's sovereign rating to "stable" from "negative" noting the government's steps to reduce fiscal deficit. The rating agency said the Indian authorities have been successful in containing the upward pressure on the Union Budget deficit in the face of a weaker-than-expected economy
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OMCs to benefit from diesel price hike: Moody’s
Moody's Investors Service pointed out that the recent Re 1 a litre hike in diesel price would reduce under-recoveries incurred by state-run oil marketing companies (OMCs) on sale of fuel at below-market rates. With this price hike, diesel prices rose a cumulative Rs 2.25 per litre since January, which translates into an Rs 18,000 crore decline in under-recoveries, the rese
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RBI head to tap all options to ease liquidity strain
Reserve Bank of India (RBI) Governor D Subbarao assured that the central bank would explore all the options available with it to ease liquidity strain in the banking system, including adjusting banksĆā cash reserve ratio (CRR) or any other mechanism. He informed, during a post-policy conference call with analysts, that the central bank will not just limit itself to bond
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State-run OMCs witness decline in under-recovery
State-run oil marketing companies (OMCs) witnessed a sharp fall in the under-recovery on sale of diesel in the first fortnight of May to Rs 3.80 per litre from Rs 6.42 per litre during the second fortnight of April. Similarly, these companies witnessed decline in under-recoveries on account of kerosene for public distribution system (PDS) for the month of May 2013 to Rs 27.93 per litre
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Liquidity may remain in deficit mode in banking system
Liquidity in the banking system is expected to remain in deficit mode because of factors like currency leakage from the system, high government cash balance with Reserve Bank of India (RBI), experts said. According to some economists, the banking system may face liquidity deficit to the tune of Rs 1.5 trillion till September 2013 compared to Rs 1 trillion at the end of Marc
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Govt seeks rating upgrade from Fitch
At a meeting with the representatives of ratings agency Fitch, union finance ministry officials raised the issue of upgrading the credit rating of the country. However, during the meeting, the global rating agency expressed concerns on how deficits will be met and on the ability of the government to meet revenue targets
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State-run OMC under-recovery set to fall in FY14
RS Butola, Chairman of Indian Oil Corp (IOC) informed reporters that the under-recoveries incurred by state-run oil marketing companies (OMCs) on the sale of diesel, LPG and kerosene may fall to Rs 112,000 crore from the earlier estimate of Rs 130,000 crore. The under-recoveries may decline because of the fall in the international crude oil price. But he said the estim
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OMCs reduce petrol price by 85 paise a litre
State-run Oil Marketing Companies (OMCs) reduced price of petrol twice in a span of 15 days since March 16. While they reduced petrol price by Rs 2 per litre (excluding VAT) on March 16, they again cut the price by 85 paise per litre from April 1. The OMCs also reduced the prices of non-subsidised domestic cooking gas by Rs 3 a litre. A 14.2-kg non-subs