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With geo-political factors impacting crude prices, India needs to have a good oil hedging policy as the volatility will continue to rise, former Reserve Bank of India (RBI) Governor, Raghuram Rajan said Wednesday.
Rajan said the issue has been discussed in the past and it began with a strategic petroleum reserve, but beyond that there is a need to think about hedging oil prices especially when it comes to levels such as now.
"There is a very strong need for an oil hedging mechanism for a country like ours which is so dependent on oil," Rajan said in a pre-recorded interview being telecast at Times Network's India Economic Conclave.
The problem is many who are entrusted with this, fear the chance of oil prices falling even further if you hedge it, but that has to be taken as a national consequence of the hedging programme. "We, as a country, must think about whether we should start this process," he said.
Raghuram Rajan said as far the GDP growth number is concerned, there is always a need to do more.
Giving an analogy, he explained, "The proof of the pudding is sometimes in the eating. If 25 million people are applying for 90,000 jobs, it suggests that we are not supplying that many jobs and that means growth is not strong enough at least in the job creating areas," he said.
According to him at this time one of the biggest areas of concern is state deficits, especially during election time where many states are promised waivers and also dole out goodies to attract votes.
"This, often hampers them later on because ultimately what is suffering is investment," He said.
Rajan said if we look at agrarian unrest, one of the big concerns is that agrarian productivity has not increased as it should, and the prices have been fluctuating.
"The effect of all this is that people are getting more and more concerned that they don't have access to a good livelihood," he added.
On land acquisition for projects, Rajan said there is a need to improve the pace of the process by making land rights much clearer, as there are some states where land rights are opaque, and also having a decent price as well as some kind of long-term incentives.
There is a need to focus on macro stability and distress sectors such as agriculture, banking and power sector, and try to get them back on track, he noted.
"There is no immediate reason to be overly concerned about India but there is a reason to revisit our growth path to ensure that it is stable, sustainable and equitable. If we do that we are on the right track," Rajan said.
Rajan also emphasised on having good and reliable data in the country to help decision makers formulate policies.
"As we go forward and become a USD 5 trillion economy from the over USD 2.5 trillion we are now, we need to have robust data and rely on data and take economic decisions on that basis," Rajan said.
source : dnaindia
wonderful story behind youtube
BS 3 Two Wheelers offered with discounts
Two Wheeler Name Discount Offered
Honda Navi Rs 20,000
Honda Activa-i Rs 14,500
Honda Dio Rs 13,500
Honda Aviator Rs 13,500
Hona CB Shine SP Rs 18,300
Honda CB Shine Rs 18,300
Honda Dream Yuga Rs 18,500
Honda Livo Rs 18,500
Honda CBR 150R Free Navi offered
Honda CBR 250R Free Navi offered
Hero Maestro Edge Rs 12,500
Hero Splendor Pro Rs 5,000
Hero HF Deluxe Rs 5,000
Hero Glamour Rs 7,500
Hero Super Splendor Rs 7,500
TVS Apache RTR 200 4V Rs 10,000
TVS Apache RTR 160 Rs 5,000
TVS Victor Rs 5,000
TVS Jupiter Rs 10,000
Triumph Tiger 800 XR Rs 1.5 lakh
Triumph Tiger 800 XCx Rs 60,000
Triumph Thunderbird Storm Rs 3 lakh
Triumph Thunderbird LT Rs 3 lakh
Triumph Rocket III Rs 3 lakh
Triumph Daytona 675 Rs 90,000
Ducati Monster 821 Rs 2.7 lakh
Ducati Diavel Rs 2 lakh
Ducati Scrambler Urban Enduro Rs 1.7 lakh
Today's the last day when BS 3 vehicles will be permitted to be sold or registered. So, if you're in the market for a new vehicle, you will have to rush. Many two wheeler dealers are already reporting stocks being sold out and there is heavy rush at others as customers try to make the most of these offers.
Hi Dear Acumens,
Such a great and wonderful pleasure to be the part of ITAcumens Family.
Well said sudhakar, about the geo locations of ITAcumens. The New premises is a very lucky and we discovered it in right time.
I wish all the great success and development of ITAcumens and my support will be always there for you.
Congratulations to all the team members of ITA family.
ISRO space record - A Successful launch of Cartosat-2 and 103 other satellites
A Proud Moment for India
PSLV first launched the 714 kg Cartosat-2 Series satellite for earth observation, followed by the INS-1A and INS-1B, after it reached the polar Sun Synchronous Orbit. It then went on to inject 103 co-passenger satellites, together weighing about 664 kg, in pairs.
ISRO scientists used the XL Variant - the most powerful rocket - earlier used in the ambitious Chandrayaan and during the Mars Orbiter Mission (MOM).
Will post more info s shortly.
We have following opening(s) at VMCL, Kindly refer candidates.
Position Title Helper
Division VEPL -Solar , VMC
No of Vacancies 06
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Such a Proud to write this post.
Never seen such a raise from Youngsters & supporters protesting to release the ban on Jallikattu.
Hatsoff to the All Tamizhans who are involving themselves strike.
we believe that this is the History happening in tamilnadu by peaceful protest ever happened before.
This is the Right Time, Right Place to raise our voice. Our heritage should be protected in our own way.
Lets do this until we get justice.
We Support Jallikattu.
Posting here some of the photos which came through social media in favour of supporting Jallikattu
Happy New year 2017
I m sure this year will take us to the next level of growth of business and our needs.
Wishing everyone for the success.
Procedure to change your old 500rs and 1000rs currencies