Monday, September 2, 2013

Indian markets Graphs Getting Grounded part -3

Another source of demand for US Dollars has been the elaborate and inconclusive battle between the environmentalists and the cheerleaders for go-go-growth. Iron ore mining has been banned. Coal mines are not connected to railway tracks so, though India is rich in coal, it imports coal (Graph 3). This mismatch of approximately USD 12 billion per year has added 1% to the current account deficit, as a percentage of GDP.

Graph 3: Export of iron ore no longer pays for import of coal
Source: CMIE/Monthly data 
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1 comment:

  1. UnknownSeptember 5, 2013 at 11:47 PM

    It’s a good thing to describe the market business ongoing process in graphs. The graph is also easy to understand.
    VCT

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