News 30th June

30th june:
G-20 summit still in news and still attracting views:

What is till to date news?

• Targeted debt reduction fiscal deficit to be halved by 2013 and stabilized by 2016. (Estimates given by US is approximately reduce its debt from 10.1 % of GDP to 4.2% of GDP , Germany expects to reduce from 5.5% to 3%.)
• Tighter bank capital requirement by 2012, but bank takes possibility only in debt zone of Europe.
• Financial regulations to be tightened and more stringent however will be discussed in the Seoul Summit.
• Focus on raising private demand and get away from the stimulus backed economies
  

What’s in for India?

• The government would reduce subsidies in gasoline and Kerosene complying to long term goal of G20 to reduce subsidy on energy products.
  
• India Signs a nuclear deal with Canada too open nuclear commerce with Canada.

*****Anjana Khanduri