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Tag: US Federal Reserve

Jacob Lew,First Minister,of US,Landed After Barak Obama’s Latest Takeoff

Feb. 12 Economy, World Comments

Arun Jaitley and Jacob Lew at the joint press conference, during the 5th Indo-US Economic and Financial Partnership Dialogue,

Arun Jaitley and Jacob Lew at the joint press conference, during the 5th Indo-US Economic and Financial Partnership Dialogue,

US Treasury Secretary calls on the Prime Minister Narendra Modi And Finance Minister Arun Jaitely He Appreciated Positive Approach Of India
Treasury Secretary of the United States Mr Jacob Lew, accompanied by the Vice Chairman of the US Federal Reserve, Mr Stanley Fischer, called on the Prime Minister, Shri Narendra Modi, today. Mr Jacob Lew Is the first Minister Visiting India After Departure Of President Barack Obama
They are visiting India for the India-US Economic and Financial Partnership dialogue which is co-chaired by the Finance Minister of India.
Prime Minister recalled the landmark and highly successful State Visit of the President of the United States to India as the Chief Guest at the Republic Day Parade.
Prime Minister reiterated that the economic and financial cooperation between India and the US was an important pillar of strategic partnership between the two countries. He said that the Government of India was committed to provide predictable and stable tax regime and policies and welcomed the interest expressed by the US companies to invest in India.
The US Treasury Secretary expressed deep appreciation at the financial inclusion initiative ‘Pradhan Mantri Jan Dhan Yojana’ that has connected over 100 million people with the mainstream economy in India. He also appreciated the positive approach adopted by the Government of India in addressing issues of the foreign investors. Visiting Minister Lew Me Arun Jaitely
The Union Minister for Finance, Corporate Affairs and Information & Broadcasting, Shri Arun Jaitley and the US Secretary for Treasury, Mr. Jacob Lew Attended joint press conference Also
Photo Caption
The Treasury Secretary of the United States, Mr. Jacob Lew calling on the Prime Minister, Shri Narendra Modi, in New Delhi on February 12, 2015.

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Ministry of Finance Is Not Surprised On U S Decision Of Tapering :USD 65 billion

Jan. 30 Economy, World Comments

Ministry of Finance Is Not Surprised On U S Decision Of Tapering USD 65 billion.India’s economy is better prepared for the consequences, if any, of the taper Becouse foreign exchange reserves stands at USD 295 billion and Current Account Deficit is now expected to be below USD 50 billion. However Government of India and the Reserve Bank of India will continue to remain vigilant and will take whatever steps are necessary to ensure that there is stability in the financial markets.
Ministry of Finance Said That US Decision On Tapering Of purchase of mortgage-backed securities and longer-term treasury securities Was expected So It Is Not A Surprise and should not in any way surprise or affect the Indian markets.
The Central Government has taken note of the US Federal Reserve’s decision to reduce the level of purchase of mortgage-backed securities and longer-term treasury securities to USD 65 billion per month as against USD 75 billion per month. This decision was expected and should not in any way surprise or affect the Indian markets. However, it may be noted that USD 65 billion is not a small sum and will continue to infuse a large amount of liquidity into the world markets.
The Federal Reserve has not announced a sequential taper and has made it clear that “asset purchases are not on a pre-set course” and that they will take “further measured steps at future meetings.” The Federal Reserve has also made it clear that the result of the decision will be a “sizeable and still-increasing holdings of longer-term securities”.
The Federal Reserve has also “reaffirmed its expectations that the current exceptionally low target range for the federal funds rate of 0 to ¼ percent will be appropriate at least as long as the unemployment rate remains above 6½ percent”.
As Government has stated earlier, India’s economy is better prepared for the consequences, if any, of the taper. We have added to our foreign exchange reserves which stand at USD 295 billion. FDI and FII inflows continue to be robust, liquidity is comfortable, stronger regulations have been put in place in the capital markets, the investment cycle appears to have turned positive, credit demand from key sectors is strong, and WPI inflation has moderated. The Current Account Deficit which was earlier estimated at USD 70 billion is now expected to be below USD 50 billion in 2013-14. Therefore, there should be no undue concern over external factors.
However, both the Government of India and the Reserve Bank of India will continue to remain vigilant and will take whatever steps are necessary to ensure that there is stability in the financial markets.

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