Tourism in India: June 2011 Update

 Foreign Tourist Arrivals (FTAs) during the period January-June 2011 were 29.19 lakh with a growth of 10.9 %, as compared to the FTAs of 26.32 lakh with a growth of 8.9 % during January-June 2010 over the corresponding period of 2009.

Foreign Exchange Earnings (FEE) from tourism in terms of US$ during January-June 2011 were US$ 7811 million with a growth of 14.2 %, as compared to US$ 6842 million with a growth of 36.6 % during January-June 2010 over the corresponding period of 2009.

FEE from tourism in rupee terms during January-June 2011 were Rs. 35163 crore with a growth of 12.1 %, as compared to the FEE of Rs. 31373 crore with a growth of 27.1 % during January-June 2010 over the corresponding period of 2009.

 

Tourism in India in 2010: An Update

Foreign tourist visits to the country registered an impressive growth of 24.2% in the year 2010. Similarly domestic tourist visits also showed a growth of 10.7 % last year.

The number of domestic tourist visits to the States/ UTs during the year 2010 was 740 million as compared to 669 million in 2009 and 563 million in 2008.

Cement Mini Plants Economically Unviable

Woes of the cement industry in India continue. Mini cement plants are the latest victims.. Read how..

World Oil Demand To Rise, says IEA

International Energy Agency (IEA’s) first forecast on the crude oil demand for next year suggests that global demand for crude is expected to rise by 1.6%, mainly  because of growth in the developing world, particularly Asia. While demand in industrialised countries is forecast to fall 0.3%, this will be counterbalanced by 3.6% growth in other economies.

Wind Power Market in India

A probable change in the incentives given to the Wind Power Sector in India has created waves across the industry.

Whether this will result in a drop in demand of wind farms and investment in the wind power segment needs to be seen. However, if it does result in drop in demand then it is sure to affect the wind turbine manufacturers in India as well as the global suppliers in India. Indian companies may then look to export wind turbines to the US and Europe where clean energy is expanding its footprint rapidly.

Indian Growth Story Needs An Energetic Push

As we enter the last year of the 11th Five Year plan (2007-12) of the Indian economy, two tasks are primarily undertaken. One, assessment of the performance during the Five Year plan and setting up goals for the next Five Year plan.

A release by the Planning Commission reveals that India is expected to end the 11th plan period with about 8.2% GDP growth. This is below the target growth of 9%. However,

New Uranium Reserves in India Estimated at 1.5 lakh tonnes

India’s ambitious plans of increasing nuclear power generation at a rapid pace was earlier constrained due to lack of raw material supplies and high dependence on imports. With the sharp growth estimated in the new uranium reserves found in Andhra Pradesh, the fortunes of the nuclear power sector look bright.

Also, with the government in favour of developing this source of energy (in spite of the catastrophe in Japan), the share of nuclear power generation in India is set to rise.

Higher power tariffs in peak hours

Power distribution companies in the country are estimated to have incurred a staggering loss of about Rs 70,000 crore in the last fiscal and the amount is expected to be as much as Rs 1,16,000 crore by 2014-15.

Raising concerns about the health of power distribution utilities, Planning Commission Deputy Chairman Montek Singh Ahluwalia has suggested introduction of different electricity tariffs for peak and off-peak hours.

Indian Industry News: India’s fuel demand seen up 3.8 per cent in 2012, says IEA

India’s fuel demand may rise 3.8 per cent in 2012 led by diesel and gasoline, the International Energy Agency said, adding a recent retail price hike by Asia’s third-largest oil consumer will not dent demand growth in the short term. IEA, an adviser to 28 industrialised countries, in its July report, forecasts India’s fuel demand to rise 132,000 barrels per day (bpd) to 3.6 million bpd in 2012 despite a likely slowdown in economic growth to 7.8 per cent in that fiscal.

Why should you shift from BPLR to base rate?

A number of home loan borrowers in India are worried about the effect of base rates (new benchmark lending rates) introduced in the banking system last year on their existing home loans.

A brief on the home loan rates

Prior to July 1, 2010, home loans in India were  linked with a bank’s BPLR (benchmark prime lending rate). Home loans rates where driven by competition and where pegged below BPLR. In order to bring transperancy in the home loan market, the RBI introduced the base rate. Now, each bank has to mandatorily release its base rate and all loans have to be based on the base rate.

While there is difference in the way both base rate and PLR is calculated by banks, base rate effectively is the lowest rate that a bank would charge its customers.

Customers who have availed home loans prior to introduction of the base rate, often wonder if they should shift their home loan from being linked to BPLR to being based on the base rate.

Here’s a nicely penned article by ET Bureau which gives reasons why one should switch to base rate. Read