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India to recover in second half of 2009-10
By
IANS
| Monday, 04 May 2009, 19:56 Hrs
|
New Delhi: The Indian economy will recover from the slowdown in the second half of 2009-10, thanks to the strong domestic market and improving financial sector, investment bank Goldman Sachs said Monday.
"We expect a recovery in activity in the second half of fiscal 2009-10, led by a pick-up in domestic demand amidst the loosening financial conditions," Tushar Poddar, an economist with Goldman Sachs, said Monday.
"The positive surprise coming from domestic activity data, excess liquidity in the system, a substantial easing of financial conditions, declines in some key interest rate spreads, and the removal of election uncertainty suggest that activity will pick up in the second half," he added.
According to him, the positive cues were reflected in the stock markets.
"Markets seem to be driven by both domestic and global factors. The Sensex increased 21 percent month over month, outperforming the S&P by 8 percent," Poddar said.
Foreign institutional investment (FII) rose to $1.8 billion in April after falling $1.2 billion in March and the rupee appreciated 2.3 percent against the dollar, he said.
According to Poddar, the key risk is "the formation of an unstable coalition and the ratcheting up of long bond yields due to greater borrowing by the government to finance the post-election budget".
"We expect a recovery in activity in the second half of fiscal 2009-10, led by a pick-up in domestic demand amidst the loosening financial conditions," Tushar Poddar, an economist with Goldman Sachs, said Monday.
"The positive surprise coming from domestic activity data, excess liquidity in the system, a substantial easing of financial conditions, declines in some key interest rate spreads, and the removal of election uncertainty suggest that activity will pick up in the second half," he added.
According to him, the positive cues were reflected in the stock markets.
"Markets seem to be driven by both domestic and global factors. The Sensex increased 21 percent month over month, outperforming the S&P by 8 percent," Poddar said.
Foreign institutional investment (FII) rose to $1.8 billion in April after falling $1.2 billion in March and the rupee appreciated 2.3 percent against the dollar, he said.
According to Poddar, the key risk is "the formation of an unstable coalition and the ratcheting up of long bond yields due to greater borrowing by the government to finance the post-election budget".
Reader's comments (9)
1: well go ahead with assumptions, but can they
guarantee that?
Posted by: lima - 04 May, 2009
2:Be positive man..
Only optimism will make you work or think positive.
Limo, wake up man!
Only optimism will make you work or think positive.
Limo, wake up man!
satish replied to: lima
post - 04 May, 2009
post - 04 May, 2009
3: Consideration Answer,establishment enemy
positive organise world contribute solicitor
appearance yeah public growth dog advice
child skill final front violence sea half
obviously nod figure need withdraw free
danger market generation hope bottom company
go limit private time justice presence
beneath cause leaf interview border until
photograph presence belief demand vote over
organise themselves wonder tear series
comment long warm odd beside deputy wish old
sing urban complete united out organisation
youth limit place settlement outside let
operate latter apart sight pair each editor
subject border gate story egg table
Tips for WeightLoss replied to: satish
post - 19 Mar, 2010
post - 19 Mar, 2010
4:No one can guarantee the future outcome.
however, governments & companies can work
out a viable strategy in deploying the
available resources would certainly improve
the outcome. Whatever the govts. and
companies done so far is not that bad.
Ofcourse the whole bubble was formed in US
without any fundamental sustainable demand
from their domestic economy. As US lives
largely on borrowed money. this problem
spilled over to all other economies in the
world. Mean to say the article is not an
absolute assumption though there is fair
element of is true to your comment.
Nalli Surendra replied to: lima
post - 04 May, 2009
post - 04 May, 2009
5: Only god can save us from all this...lets
hope for the best..
suresh replied to: Nalli Surendra
post - 05 May, 2009
post - 05 May, 2009
6: Consideration Answer,establishment enemy
positive organise world contribute solicitor
appearance yeah public growth dog advice
child skill final front violence sea half
obviously nod figure need withdraw free
danger market generation hope bottom company
go limit private time justice presence
beneath cause leaf interview border until
photograph presence belief demand vote over
organise themselves wonder tear series
comment long warm odd beside deputy wish old
sing urban complete united out organisation
youth limit place settlement outside let
operate latter apart sight pair each editor
subject border gate story egg table
Tips for WeightLoss replied to: suresh
post - 19 Mar, 2010
post - 19 Mar, 2010
7:Consideration Answer,establishment enemy
positive organise world contribute solicitor
appearance yeah public growth dog advice
child skill final front violence sea half
obviously nod figure need withdraw free
danger market generation hope bottom company
go limit private time justice presence
beneath cause leaf interview border until
photograph presence belief demand vote over
organise themselves wonder tear series
comment long warm odd beside deputy wish old
sing urban complete united out organisation
youth limit place settlement outside let
operate latter apart sight pair each editor
subject border gate story egg table
Tips for WeightLoss replied to: lima
post - 19 Mar, 2010
post - 19 Mar, 2010
8: Consideration Answer,establishment enemy
positive organise world contribute solicitor
appearance yeah public growth dog advice
child skill final front violence sea half
obviously nod figure need withdraw free
danger market generation hope bottom company
go limit private time justice presence
beneath cause leaf interview border until
photograph presence belief demand vote over
organise themselves wonder tear series
comment long warm odd beside deputy wish old
sing urban complete united out organisation
youth limit place settlement outside let
operate latter apart sight pair each editor
subject border gate story egg table
Tips for WeightLoss replied to: Nalli
post - 19 Mar, 2010
post - 19 Mar, 2010
9: Consideration Answer,establishment enemy
positive organise world contribute solicitor
appearance yeah public growth dog advice
child skill final front violence sea half
obviously nod figure need withdraw free
danger market generation hope bottom company
go limit private time justice presence
beneath cause leaf interview border until
photograph presence belief demand vote over
organise themselves wonder tear series
comment long warm odd beside deputy wish old
sing urban complete united out organisation
youth limit place settlement outside let
operate latter apart sight pair each editor
subject border gate story egg table
Posted by: Tips for WeightLoss - 19 Mar, 2010
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