Wednesday, December 19, 2012

Companies Bill 2011 and growth predictions

The Companies Bill 2011 was passed by the Lok Sabha on 18th December, in a move that would facilitate a new set of conditions for unobtrusive regulation of corporates along with enhanced shareholder democracy. The proposed legislation will replace the existing Companies Act 1956, which was enacted 56 years ago.  Currently there are over 8,50,000 companies, where as there were only 30,000 registered companies in 1956.

The United Nations slashed its global growth predictions to 2.4% for 2013 and 3.2% for 2014. The debt crises in Europe and the U.S. and a slowdown in China could all plunge the world economy into recession, warned the UN's World Economic Situation and Prospects 2013 report. Growth in Southeast Asia helped sustain world trade through the recent crisis but fell to 5.5% in 2012 and will only recover slightly to 6% in 2013 and 6.3% in 2014. The report predicted growth in South Asia averaging 5% in 2013, up from 4.4% in 2012, led by a moderate recovery in India.

Read lot more in Rubber4U – 1st January 2013 issue

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