In News

Government ready to sell 9.5% stake in NTPC 

Marred by the economic slowdown , the Central Government has decided to divest its share into NTPC . The Cabinet Committee on Economic Affairs gave it’s nod to the proposal of selling 9.5% share in the company on 24th November . This decision will bring down Government’s stake in the entity from 84.5% to 75%. It is a part of the Government’s proposed plan to raise funds of Rs.30,000 crore  in the current fiscal year .Expected value to be raised after the sale is 13000 crore rupees.

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Moody’s Predict Stability for India’s GDP Growth

International rating company Moody’s Investor Service forecasted it’s predictions to be stable on Indian economic growth . This prognosis brings some respite for India who’s economic state and stability were questioned earlier by both S&P and Fitch ratings , rivals to Moody’s . Earlier S&P had given a junk status to India’s economic health unless Government took corrective measures . Moody’s released a statement saying that the “ outlook on India’s sovereign rating is stable , supported by economic strengths that outweigh weaknesses “ . Some economists , however , tended to disagree with the idea citing slowing growth and high inflation .

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European Nations Agree on Greece Bailout 

European Nations and IMF agreed on the deal to give an bail out package to debt laden Greece . They have agreed to cut debts by 40bn euros ($51bn; £32bn) and have paved the way for releasing the next tranche of bailout loans - some 44bn euros. Asian and European Markets reacted positively to the news . The decision was taken after a 10 hours meet of the euro leaders at Brussels . The meet was third of it’s kind in two weeks . Greece has been waiting for the instalment since June to keep the economy ‘afloat’ . The leaders said that Greece would receive the amount by 13th December.

Contributed by Kaustubh Tandon (PGDM 2012-14)