7 Events That Contributed The Most To Indian Economy In 2014

BANGALORE: The year 2014 is coming to an end and it saw a tremendous increase in the economy, as the Sensex reached new heights, rupee retained its consistency and certainly there were more ups then the downs in the market.

So what are the key reasons that took Indian markets on the top in 2014? If you are eager to note, then here are some of the events to boast about in 2014 as compiled by Yahoo.com.

1. New Government

With the record breaking win in the general elections of 2014, Bhartiya Janta Party (BJP) made a whooping comeback, Narendra Modi was elected as the Prime Minister of India.

The markets reflected a steep growth as Sensex jumped over 1000 points. At the time when Modi took oath, the Sensex went to 24,700 from 22,300 levels.

2. Diesel deregulation

There are lots of reforms that new government has brought in India. Amongst them, one of them is subsidizing diesel prices compensating fuel-selling companies for their loss. This, in turn, increased the government’s expenditures.

 In 2014, the government decontrolled diesel prices, allowing companies to sell oil at market prices because international prices remained low. Diesel cost 54.34 in New Delhi and 62.6 in Mumbai per liter at the start of the year. It now costs 50.51 in Delhi and 57.91 per liter in Mumbai.

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