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The author:(作者)qqpublished in(发表于) 2014/6/11 10:52:49 India pushed new deal to revive the economy， or to provide investment opportunities
India looks at the economy out of the new deal the "Valley"
Correspondent in India Xinhua Lv Pengfei
The core reading
India President Pranab Mukherjee on June 9 in India on the joint session of the Parliament announced the India programme of power in the new Government, basically covering the India people's party campaigned on everything, and reviving the economy is the core content. The new Administration's policies related to economic, infrastructure, energy, agriculture, and more than more than 10 areas such as defence and Foreign Affairs.
Fighting inflation is a top priority for the Government of
New Government proposed, curb inflation is Government work of heavy in the of heavy, for Government will focuses on improve agricultural of supply; while, new Government also commitment created transparent, and fair, and can expected of policy environment, simplified tax, improved business environment; new Government also will development labor intensive of manufacturing, created employment opportunities, founded world level of investment and industrial zone, construction transport and the industrial corridor, will India playing caused has competitiveness of manufacturing center; India new Government also proposed, To build a set of diamond Quadrangle's high-speed rail network. New programme aims, in 2022, India 75 years of independence, when households own their own homes, to pass water, electricity, toilets and so on.
As the new administration focuses on revitalizing the economy, highlighting the current India grim economic realities. India in this time India won a majority of seats in parliamentary elections, becoming 25 years India's first political party could govern alone, partly because the echoes public expectations of improving people's livelihood. Which in addition to the new Prime Minister, Mr MODI himself beyond the charm of public grievances against the previous Government's people's Party can win one of the important reasons.
Fiscal year 2012-2013, the India economic growth fell below 4.5%. Since February 2013 to August, India rupee devaluation against the dollar, down more than 20%. Meanwhile, inflation, India's current account deficit. India Congress Party-led United Progressive Alliance to the deteriorating economic situation in helpless, eventually led to the ouster.
India scholar University of North akendebangduen Mao Duliang told the newspaper, overwhelmed by the deteriorating economic situation is India the United Progressive Alliance the most important reason. Said Mao Duliang, 2004-2009, during the first session of the ruling United Progressive Alliance, India economic growth averaging over 8%, but now less than 5%.
The measures of the new deal may not get it any time soon to bear fruit
According to India data released in May by the Government in April, India's consumer price index reached 8.59%, a 3-month high; in fiscal year 2013-2014 India economic growth for 4.7%, under 5% for two consecutive years. India New Delhi scholar sabuyasaqi·Kaer of the Institute of economic growth, in the 10th edition of the India Christian newspaper written, to revive the economy and contain inflation is India on the priority of the Government of the people. Karl also stressed that these objectives could not be achieved immediately, take time to the systemic change needed for high-speed and sustainable development. Mao Duliang also believe that MODI, the new deal policies of short-term difficult to work, if the MODI can be re-elected and continue with these policies will be achieved remarkable results.
However, India's Central Bank current interest rate policy pursued by India's new Government into a dilemma. In order to curb the momentum of devaluation of the rupee, India's Central Bank raised interest rates several times last year and eventually transferred to 8%. India's Central Bank announced in early June, will maintain 8% of benchmark interest rates unchanged, while keeping the bank deposit reserve ratio unchanged. India's Central Bank Governor, says Mr Rajan, India's Central Bank will strive to achieve lower inflation in January 2015 to 8%, and June dropped to 6% goals. High-interest-rate policy to a certain extent curb the deterioration of the rupee devaluation, inflation, but also dampened the enthusiasm of investors, who had many businesses complain that India's Central Bank lending rates are too high. How to revive the economy and reduce inflation to be Mo Dixin thorny problem facing the Government.
An important pillar of foreign investment to stimulate economic growth
India domestic investment shrinking at the same time, foreign capital to become India's new Government to stimulate an important pillar of economic growth. India Press Trust recently reported that the 2013-2014 fiscal year, India received foreign direct investment us $ 24.3 billion, an increase of 8%. India US $ 1 trillion by March 2017 to be strengthened at airports, ports, roads and other infrastructure investments to stimulate the economy, foreign direct investment is critical to achieving this goal.
In fact, MODI has served in the State of Gujarat in a good investment environment and foreign investors of all ages. India Bharatiya Janata Party promised during the campaign, will be open to foreign direct investment in other areas, except the multi-brand retail, and increase the proportion of foreign investment holdings. India, Pranab Mukherjee in Parliament on 9th, President says India will continue to encourage all kinds of investment, including foreign direct investment.
Investment from China in India had played an important role in the economic and social development. Mr MODI himself has visited China, was interested in China's economic development model, India public opinion holds that during the administration of Mr MODI, India and China in the field of economic cooperation will be strengthened. India Christian newspaper reported on the 10th, he said during a meeting with Chinese Foreign Minister Wang Yi, Chinese Tang dynasty monk Xuanzang visited his home state of Gujarat near the Indian and Chinese have very strong civilizational links should be on the basis of mutual understanding. According to press reports, India industrial park to attract Chinese companies to come to local governments or participating in infrastructure construction with a positive attitude. Urban construction of Shanghai and other Chinese companies have also been involved in the India MTR, in road and other infrastructure construction, China railway electrification Bureau is also planning to participate in India part of the electrification of the railway line.
However, India's new Government initiatives to attract foreign investment in India domestic obstacles. Furthermore, although the India people's Party won the India House of the people (Parliament) elections, but India Congress Party in India Council of States (upper House of Parliament) still have the edge, India Congress Party President Sonia Gandhi has said, will be in India States play the role of strong opposition. Many of the reforms, including foreign inevitably encountered some resistance.
(Staff writer, New Delhi, June 10)
≫> comments <<
Liu Xiaoxue (associate research fellow, Institute of Chinese Academy of social sciences, Asia-Pacific and global strategy): MODI-led India Bharatiya Janata Party has been able to win more than half of the seats in this election, because India voter desire for development that is beyond religion, caste and partisan. Past 3 years India slowdown in economic growth, employment depression, the high inflation rate, continuously exposed corruption scandals, stimulate the social mood. Entrepreneurs also were disappointed with dystocia of the Congress Party's economic reforms, stood by MODI. Of course, MODI's personal charm was also important, his bold action, there is a wealth of life experiences, from a tea seller to four consecutive terms, the son of the Chief Minister. He also adhered to in Gujarat "growth as the key link" create "very beautiful here."
India this round of economic downturn and from the demand point of view, with the most dramatic drop in investment. Judging from the industry, it is a manufacturing holding the economy back. After all, investors on India markets are losing confidence. So going to be renewed growth, it is necessary to boost investor confidence, inter alia reform has no alternative.
Current difficulties and people's expectations make Narendra Modi Government is facing an unprecedented "increase pressure", only the last stand. The MODI Government has confidence in the market, rising stock market in Mumbai is proof of that.
If the current Government's policy agenda can be confirmed, you can say without question, Sino-Indian economic and trade cooperation to a higher level. Because of the high growth of India-Indian trade in the economy over the past 10 years to the rapid growth of the Foundation. A good investment climate in India, both in the field of infrastructure construction and manufacturing fields, will provide better investment opportunities for Chinese companies.
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