The spending cuts in the US have raised uncertainty
about the chances of an improvement in India's economic growth. The
International Monetary Fund has warned that Washington's planned $85 billion in
spending cuts could lead to a lowering of its growth forecast for the US and
the global economy. As India's total exports has increased from 11.3% last
fiscal to 13% this year, it's exports could take a hit as the expected 750,000
job cuts in the world's largest economy will affect people's purchasing power. But
at the moment, it is difficult to say how big an impact the spending and job
cuts will have on India.
The Indian auto market is facing tough time at the
moment with the ever increasing prices of conventional fuels, high auto finance
interest rates and low demand. The auto industry was expecting growth friendly budget,
but got disappointed.
For more details on Union Budget 2013-14, log on to www.rubber4u.com / Statistic/Notices
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