During February, 2008, the bank rate was 6% that remained unaltered, when compared with the same period previous year despite constant increase in the repo and reverse repo rates by RBI.
Forex reserves during the month of Jan 2008 had increased to US$292794 million, up from US$274881 million during the previous month. The rise in the value of gold reserves also caused the accretion to the reserves. Even the healthy rise in exports has contributed to this rise in Foreign exchange reserves in the country. The strengthening of the euro, the British pound and the yen against the dollar also partially contributed to the rise in the reserves.
The Indian economy will experience a good perspective, owing to the recovery in agriculture, coupled with the sustained momentum of growth in industry and services. There is a gathering confidence that the economy is possibly poised on the threshold of a structural step up in the growth trajectory. Major contributor to GDP growth has again repeated the history, as the major contribution comes from service sector followed by manufacturing and the balance from agriculture.
The market capitalization of securities witnessed an increase of 33.08% from Rs.365036.80 million in April 2007 to Rs.485812.20 Millions in March 2008.
For the year 2007, they were 4796 Listed companies available for trading on Indian Stock Exchange. India ranks second in terms of number of companies available for trading.
The month of December 2007 has shown both negative & positive returns for different countries across the world. S&P CNX Nifty (India) has shown the maximum positive return of 6.52% with a volatility of 1.67%.
According to the report released by UNCTAD in 2007, India is preferred as – FDIs second most favourite destination for investments for the year 2007 -09.
The daily turnover on the NSE has witnessed a tremendous growth in past 6 years. The major increase is from the year 2006-07 to 2007-08, where the daily turnover has almost doubled from 781.20 million rupees to 1414.80 million rupees with market capitalisation marking a growth of 33.08 % over the same period.
The Derivative segment of the NSE has recorded a jump of 50% in its daily turnover from 3081.43 million rupees to 4562.30 million rupees in last year.
Welcome to a presentation on Portfolio Management Services
Monthly FDI Inflows for the year 2007 (January to August 2007) Indian Economy
FDI Inward Source: Investment Report 2006, United Nation Centre for Trade & Development (UNCTAD); Financial Express Dt 17 th October 2006 (In bn US$) (In bn US$) Indian Economy 710 916 Total 41 40 Others 274 334 Developing Nation 395 542 Developed Nation 2004 2005 FDI Inward 6.59 India 43.63 Netherlands 63.57 France 72.40 China 99.44 United States 164.53 United Kingdom 2005 Countries
FDI - Outward (In bn US$) Source: Investment Report 2006, United Nations Centre for Trade Development (UNCTAD); Financial Express dt 17 th October 2006 Indian Economy
Income by way of dividends distributed by domestic companies and income received in respect of units of a Mutual Fund registered with SEBI, held in the Portfolio Management Scheme, is exempt in the hands of the investors.
Shares in a company, units of a Mutual Fund registered with SEBI and other listed securities held as capital assets are treated as long term capital assets if they are held for a period of more than twelve months preceding the date of transfer
Under Section 10(38) of the Income Tax Act, Capital gains arising from the transfer of a long term capital asset being equity shares or unity of an equity oriented fund entered into after October 1, 2004 and where such transactions is chargeable to Securities Transaction Tax, is exempt from Income tax.
Share purchased before October 1, 2004 or where such transaction was not chargeable to Securities Transaction Tax, Section 112 of Income Tax Act is applicable.
Securities, including units of a Mutual Fund, held as a capital assets for not more than twelve months preceding the date of their transfer are short term capital assets.
Capital gains arising from the transfer of a short term capital asset being equity share or units of an equity oriented fund referred to in Section 111A read with Section 10(38) of the Income Tax Act, and where such transaction is chargeable to Securities Transaction Tax, is chargeable to tax at the rate of 15% plus applicable surcharges and educational cess.