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Bangalore: India’s economic confidence is again boosted up as the inflation rate decreases for the fourth uninterrupted month. According to report by global research firm Ipsos, another factor which strengthened the country’s economic growth along with the declining inflation rate, which stood at 6.62 percent in January, was the positive attitude of the investors and their confidence on the country’s economy. According to the study, 45 percent of the Indian citizens are positive about their local economy which also affects their personal finances. Around 53 percent of the population expects that the local economy will be much stronger in the coming six months. The online Ipsos economic pulse of the world survey was executed in December 2012 between 18,008 people across 24 countries.Mick Gordon, CEO of Ipsos in India said, “Shedding its 9-month long hawkish monetary policy stance, the Reserve Bank of India slashed its key interest rates by 0.25 percent taking cognizance of the moderation in demand side pressures to inflation and greater than anticipated slowdown in growth. Easing of policy rates will bring in additional liquidity into the system to perk up growth through reduced cost of borrowing, “reported The Times of India. Gordon also added, “The year 2013 is likely to see revival in the industrial activity and modest recovery in the services sector which would support recovery in growth levels. The pace of economic reforms that has been initiated must continue uninhibited and it needs to be effectively implemented so that it translates into tangible investment decisions,”
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