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Best focused mutual funds to invest in Merit is winning in the mutual fund market: Aashish Somaiyaa. Look at long-term records to choose mutual fund plans to invest in. At this point, the best one could hope for is 6 per cent growth rate for the financial year The worst part of is that the Indian economy has not only carried over the low investment and business climate of but has made it worse.
There were a number of remarkable developments on the political front in In state elections held in five states in the first half of the year, the principal member of the ruling United Progressive Alliance coalition, the Indian National Congress, did not do well. This has made the central government more cautious about policy reform, resulting in the suspension of FDI in multi-brand retailing and delaying big ticket reforms such as a land acquisition bill, banking and insurance reform and fiscal consolidation.
These political developments, as well as a popular movement against corruption, have created uncertainty in economic policy and scared both domestic and foreign investors. Overall, has been rough in terms of economic and political developments. It has now decided to focus on bringing back investor confidence and growth momentum, which has been on a downturn for the last seven consecutive quarters. Since November , the UPA-led government has announced big ticket reforms such as revision of fuel prices, allowing 51 per cent FDI in multi-brand retailing, allowing international airlines to invest in domestic airlines, increasing FDI equity from 49 per cent to 74 per cent in broadcasting services, the disinvestment of four public sector undertakings, and passing a new land acquisition law.
These reforms are intended to signal to investors that India is back in business. In addition, cabinet has cleared FDI in pension and insurance and there are efforts to cut subsidies and bring down the fiscal deficit. The third quarter of has seen a positive approach from the government to restore the economy to 7—8 per cent growth rate.
However, the situation now is fragile and looks to be a difficult year. The high central fiscal deficit of around 6 per cent and current account deficit of 3 per cent of GDP will create structural imbalances in the economy.
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