Exhibition on recession in Pune

The world is face to face with recession today. However, there are many who don't know what exactly this dreaded word means.

Hence, the students and teachers from economics department of the S P College have organised an exhibition titled 'I am the recession' to make people understand the complex nature of the economic depression in a simple way.

The two-day exhibition, which starts today, will have eminent speakers delivering lectures on global recession, capital markets and its impact on Indian economy.

Prof Anil Vartak, a member of the team that has prepared the content, which would be shared with the visitors, said that the exhibition would highlight the biography of global recession.

"Besides, we would bring to light the causes of recession and the fluctuations in the economy," he said adding that their idea is to reach out to the common man so that they develop a better perspective about the issue.

Prof Vartak added that they have depicted recession as a vagabond and its various features in form of a story.

"We have created a character that symbolises recession and explains economics in simple language," he said.

He added that the focus of the entire exercise is emphasise on how and to what extent is the government, policy makers, industries and people from all walks of life getting affected.

"Instead of the imparting bookish knowledge we are trying to look at the issue with a broader perspective by infusing much of fieldwork," Prof Vartak said added that he believes that recession might continue till the year-end.

'I am recession'

It's a first person account by a character named recession.

It says: I am the one who causes a decline in GDP for at least two consecutive quarters and I am a vagabond who moves to every sector.

Why should I bother when people abuse me? According to people, I'm a devil and to some extent they are right.

But don't forget, I succeeded because of your greediness, thanks buddy. Well, hope you remember me till our next meet and do understand me by then.

Source: http://www.mid-day.com/news/2009/jan/300109-exhibition-global-meltdown-economics-department-S-P-College-capital-markets-Indian-economy.htm

Inflation dips to 6.38 pct, at 10-month low

New Delhi Annual inflation fell to a near 10-month low in the third week of December, helped by lower prices of minerals and aviation fuel, and analysts saw more monetary easing after aggressive rate cuts in the last quarter of 2008.

India's wholesale price index, the most widely watched inflation measure, rose 6.38 per cent in the 12 months to Dec. 20, slower than 6.61 per cent in the previous week and exactly matching a Reuters poll.

This was India's lowest reading since March 1, and inflation has now more than halved from August's peak of 12.91 per cent.

"I expect inflation to fall to 5-5.5 per cent in the coming weeks and further down to 1.5-2 per cent by March-end," said Anubhuti Sahay, economist at Standard Chartered Bank.

"We expect the central bank to cut repo and reverse repo rates by 100 basis points on or before its January policy meet," she said.

After slashing rates since mid-October, the central bank's key lending rate, the repo, now stands at 6.5 per cent and the reverse repo rate, at which it absorbs cash from the market, is at 5.0 per cent. The Reserve Bank of India's next policy review is on Jan. 27, and most analysts expect it to again trim interest rates sharply to support an economy slowing faster than many experts had predicted.

Inflation is well within the central bank's forecast of around 7 per cent for 2008/09.

Financial markets were little moved as the data met expectations. The partially convertible rupee rose slightly to be at 48.69/71 per dollar, from 48.73/75 just before the data, while the 10-year bond yield was unchanged at 5.22 per cent.

India's $1 trillion economy, Asia's third-biggest, has shown palpable signs of slowing amid the global financial crisis and high borrowing costs at home, after growing at 9 per cent or above for the past three years.

Economists and government advisers and officials expect expansion to moderate to around 7 per cent this fiscal year and the central bank's chief said last month that 2009/10 looked like being an even more challenging year.

Source; http://www.indiavilas.com/redir.asp?l=http://c.moreover.com/click/here.pl?j1752540569