Money on the markets
A maturing market amid the mayhem
A railway budget separate from the general budget started in 1924 because the railways then formed more than a third of the budget.
A dedicated budget for railways was called for.
However the pattern of government’s finances has changed and the railways despite the impressive statistics - 63,327-kilometre network, 18 million passengers, two million tons of freight – is less important.
Although being the largest state-run enterprise, the immense power of patronage it embodies makes it politically very lucrative.
In the coalition era, the ministry has always gone to an ally with considerable political heft.
The small and medium enterprises (SME) sector, which accounts for almost 45 percent of India’s manufacturing output and 40 percent of its exports, is hoping the Reserve Bank of India (RBI) will keep its key rates unchanged in its policy review on January 29.
Last year had been shaky for the SME sector, but with the course of time and government intervention it regained its foothold in the market.
2009 was the year of recovery for India Inc.
Economic data indicates that India is on the path of recovery. The stock market has bounced back smartly from its lows in March. IPOs made a comeback as investors’ risk appetite improved.
How was the year for you? Did your investments work? Which was your favourite stock pick or investment avenue?