ECONOMIC TIMES AWARD

Economic Times Awards 1998:

        Company of the Year INFOSYS

ET Awards 2008

• Business Leader of the year: A M Naik, L&T
• Business Woman of the year: Shikha Sharma, ICICI Prudential
• Entrepreneur of the year: Dilip Sanghavi, Sun Pharmaceuticals
• Global Indian of the year: Arun Sarin, Vodafone Group
• Business Reformer of the year: Kamal Nath, Union Commerce and Industry Minister
• Policy Change Agent of the year: E Sreedharan, Delhi Metro Rail Corporation
• Company of the year: Tata Steel
• Emerging Company of the year: Welspun Gujarat Stahl Rohren
• Lifetime Achievement Award: Ashok Ganguly, former Chairman, HLL
• Corporate Citizen of the year: Dr Reddy's Foundation

ET Awards 2009

• Business Leader of the year: Anand Mahindra, Mahindra Group
• Business Woman of the year: Vinita Bali, Britannia Industries
• Entrepreneur of the year: GVK Reddy, GVK Group
• Global Indian of the year: Ram Charan, management guru and thinker
• Business Reformer of the year: Nitish Kumar, Chief Minister of Bihar state
• Policy Change Agent of the year: Jean Dreze, National Rural Employment Guarantee Scheme
• Company of the year: Hero Honda
• Emerging Company of the year: Idea Cellular
• Lifetime Achievement Award: Keshub Mahindra, Mahindra Group
• Corporate Citizen of the year: The Energy and Resources Institute (TERI)

ET Awards 2010

• Business Leader of the year: Aditya Puri, HDFC Bank
• Business Woman of the year: Zia Mody, AZB Partners
• Entrepreneur of the year: Narendra Murkumbi, Renuka Sugars
• Global Indian of the year: Nitin Nohria, Dean, Harvard Business School
• Business Reformer of the year: Kapil Sibal, minister of human resources development
• Policy Change Agent of the year: Aruna Roy and Arvind Kejriwal, — the founders of Parivartan
• Company of the year: Larsen & Toubro
• Emerging Company of the year: Cadila Healthcare
• Lifetime Achievement Award: RC Bhargava, the non-executive chairman of Maruti Suzuki

WORLD ECONOMY NEEDS BOLD ACTION

Robert Peston , Business Editor BBC News.

 

International Monetary Fund chief Christine Lagarde has urged "bold action" on the faltering world economy, ahead of a meeting of the G7 group of leading economies. The G7 is meeting in Marseille to consider a "coordinated response". The two-day meeting comes as the Organisation for Economic Co-operation and Development predicted a global slowdown this year.Europe is also struggling with a sovereign debt crisis.

Credible plans: Speaking at the same event in London before leaving for the G7 talks, Chancellor George Osborne vowed to stick to the UK's deficit reduction plan - which has so far helped the UK avoid the kind of bond market turmoil seen in the eurozone."It is the rock of stability on which our economy is built," he said.

The IMF chief praised the UK's plans - with several caveats.

Rocky road ahead

No communique will be issued after the talks in Marseille, according to French Finance Minister Francois Baroin.Earlier, Japanese Finance Minister Jun Azumi said he would explain his nation's intervention to stem the increase in its currency, which has hurt its exporters."Japan's economy has been steadily recovering, but I'm concerned that it is showing some signs of downturn due to the yen's rise," Mr Azumi said.

"I want to share the view that it would be bad for the world economy if Japan's economy faces downturn."

The OECD predicts the G7 economies will grow by just 0.2% in the last three months of the year.

The group also expects 0.3% growth in the UK in the fourth quarter, but said the economy could contract by as much as 1%.

ECONOMIC RECESSION

       The world is presently facing economic crisis due to which economics world over are considered to be entering into prolonged slowdown in economic activities. The intensity of present economic crisis is so high that is being compared with the global economic recession in 1873, great depression of 1930s and East Asian crisis of 1990s. The current economic slowdown is considered to be sub prime mortgage crisis in the financial sector of United States. Global economics recession and its impact on Indian economy, in this paper we tries to explain the impact of three distinct channels, that is, the capital flows, sect oral growth and financial sector. The global economic recession has taken its toll on the Indian economy that has led to multi-crore loss in business and export orders, tens of thousands of job losses, especially in key sectors like the IT, automobiles, industry and export-oriented firms.

        Indian economy also passed through these stages during the year 2008. The Economic Growth Rate, which was above 8% for consecutive period of three years since 2006, suddenly plunged to an average of 5.5%. Developed world is under the fear that recession may not turn out to be continuous process resulting into great depression. Generally recessions are for two quarters, but depression is a severe economic downturn that lasts several years. Earlier India was affected less by external world depressions as it relied more on internal consumption, saving and import substitutions.

However, after 1991 India opened up its economy to global players, share of exports, both goods and services, in GDP grew significantly.

      The effects of the global financial crisis have been more severe than initially forecast. By virtue of globalization, the moment of financial crisis hit the real economy and became a global economic crisis; it was rapidly transmitted to many developing countries. India too is weathering the negative impact of the crisis. There is, however, an important difference between the crisis in the advanced countries and the developments in India. While in the advanced countries the contagion traversed from the financial to the real sector, in India the slowdown in the real sector is affecting the financial sector, which in turn, has a second-order impact on the real sector. The paper is an attempt to analyze the variables responsible for India’s recent growth, impact of world recession on these variables and their significance. It needs to validate whether India’s economy has shifted away from consumption and saving to external sector dependence.

Indian Economic Survey 2010-2011

• The Economic Survey to review the economic performance in the current financial year and forecast the economy prospects for the coming year.
• Indian economy to grow by 9 per cent in next fiscal year.
• Gross fiscal deficit decreases to 4.8% of GDP.
• Inflation estimated to be higher by 1.5%.
• India on way to become fastest growing economy in the world.
• Calls for new 'Green Revolution' for agricultural sector with higher investment and introduction of latest technologies.
• Government working on regulations to emphasize on capital market.
• Increase influx of foreign capital by building close association with G-20 countries.
• National Forest Land Bank to improvise the infrastructure projects.
• Estimated economic growth at 8.75-9.25 per cent for fiscal year 2012.
• Estimated agriculture sector growth at 5.4 per cent during this fiscal year.
• Growth of Industrial output by 8.6% where, manufacturing sector registers 9.1%.
• The export stats; 29.5% in 2010 April-December and Import; 19%.
• Trade Gap  minimizes to $82.01 billion.
• Raised both saving and investment rate to 33.7% & 36.5% of GDP.
• Estimated food grains production at 232.10 million tonnes.
• Fores reserves to reach $297.30 billion.
• Importance given to telecom sector.
• Policies supporting accounting, legal, tourism, education, financial and other services.
• Taxation of goods and services to be revised.
• Introduction of Financial Schemes to monitor unemployment.
• Reformation necessary in the current education system by inviting more private participation.

MICRO & MACRO ECONOMICS

Micro Economics

Definition :

       The branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular, microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets (e.g. coffee industry).

Market Interaction :

       The strength of microeconomics comes from the simplicity of its underlying structure and its close touch with the real world. In a nutshell, microeconomics has to do with supply and demand, and with the way they interact in various markets. Microeconomic analysis moves easily and painlessly from one topic to another and lies at the center of most of the recognized subfields of economics. Labor economics, for example, is built largely on the analysis of the supply and demand for labor of different types. The field of industrial organization deals with the different mechanisms (monopoly, cartels, different types of competitive behavior) by which goods and services are sold. International economics worries about the demand and supply of individual traded commodities, as well as of a country’s exports and imports taken as a whole, and the consequent demand for and supply of foreign exchange. Agricultural economics deals with the demand and supply of agricultural products and of farmland, farm labor, and the other factors of production involved in agriculture.

Macro Economics 

Definition: 

      The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels.

Market Interaction:

      The role of macroeconomics in business can be seen in way the condition of the economy affects individual businesses. For instance, during a recession, the behavior of customers and consumers of goods and services change to reflect the change in the economy. Such changes can be seen in the way the demand for goods and services drop and the manner in which such a reduction affects the balance sheets of the various businesses. An example of the role of macroeconomics in business is the way in which the reduction or increase in demand for products affects the decisions by companies to expand or to scale down their rate of production. For instance, a boom in the economy may lead to a demand for goods. Then companies will increase production, hire more employees and even expand their businesses, all with the aim of meeting up with the increase in demand.

Foreign Exhange

1).Treasury Management – Scope and Importance

2).Overview of Risk Management

3).Overview of Foreign Exchange Market

4).Spot Market

5).Forward Market

6). Determination of Exchange Rates

7). Currency Futures

8). FX Trading Controls

      

India Economy

India Economy, the third largest economy in the world, in terms of purchasing power is going to touch new heights in coming years. As predicted by Goldman sachs, the global investment bank by 2035 India would be the third largest economy of the world. Just after US and China. It will growth 60% of size of US economy. This booming economy of today has to  pass through many phases before it can achieve the current milestone of 9% GDP
 
Union Budjet 2011-12:
              The Union Budget for 2011 -2012 will be presented on February 28. Given the inflationary environment and spate of scams country is embroiled in, 2011-12 Union Budget provides a perfect opportunity to the government to allay the anxieties of common man.
               The budget may propose an increase the income tax exemption limit to provide some relief to the taxpayer from inflation. Income tax relief can be provided to lower income brackets. There would be relaxation in individual tax slabs with a likely hike in income tax exemption limit.
               This will be a natural move to align with provisions of DTC. This could take the form of raising the tax exemption limit from the current Rs 1, 60,000 to a higher income slab Rs. 2, 00, 000. Presently, income up to Rs 1, 60,000 for men and Rs 1, 90,000 and Rs 2, 40,000 for women and senior citizens is exempted from tax. DTC; GST implementation is unlikely before April, 2012. 

             2011-12 Indian budget can see an increase in the service tax to boost the revenues. The service Tax net is expected to increase either through the addition of new services or the expansion of the scope of the existing services. New set of services that could be bought under the ambit of services tax are CA audit, corporate finance and accounts services, health and education services, legal services, postal services, gas and water distribution, hospital OPD services, retail services, research and experimental development etc.

Gross Domestic Product

        The gross domestic product (GDP) is one the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy. Usually, GDP is expressed as a comparison to the previous quarter or year. For example, if the year-to-year GDP is up 3%, this is thought to mean that the economy has grown by 3% over the last year.

Measuring GDP is complicated (which is why we leave it to the economists), but at its most basic, the calculation can be done in one of two ways: either by adding up what everyone earned in a year (income approach), or by adding up what everyone spent (expenditure method). Logically, both measures should arrive at roughly the same total.