As per World Bank, Russia can overtake India as the second fastest growing economy due to slowing down of Indian economy this year.
India has recorded a GDP Growth rate of 7.9% in the first quarter of this fiscal year which is slowed in the past 3 years. The dip is mostly due to High inflation and high interest rates.
Today the weakened Rupee crossed the 44 mark as compared to US Dollar.
This has been caused due to high number of FIIs selling rupee and buying dollars. This is happening for the past 15 to 20 days now and rupee is further expected to decline more.
Falling rupee is certainly a good news for exporters and IT companies who were under pressure after US slowdown. Yesterday there was a news that Satyam has delayed new recruitment.
When you need money, you can always get a personal loan. A personal loan may become an all purpose loan for you. When you are urgent need of some money, it can really help you. For your different needs, you can use this loan.
Uses
Personal loans can be used for personal uses. This may be used for buying a household product or repaying some existing loan or may be for some social needs. All such needs will be entertained by personal loans.
Opening an bank account with Indian banks is not a very big issue today. If you fulfill the criteria, then you can get an account easily.
Know what you need
You can earn money from the online businesses. Even you can earn good amount of money by doing part time data entry work on freelancing websites as a freelancer. It gives you many benefits as well as an income source.
Benefits
You can save tax and thus a portion of money that goes out of your pocket. You can save tax by investing in different investment options. You can invest in different types of investment instruments like life insurance, Public Provident Fund (PPF), National Savings Certificate (NSC), and tax-saving mutual funds etc.
To save tax, you have to allocate your resources among the investment instruments. Your asset allocation will depend on your profile, objectives, needs, and expectations. For short term your asset allocation will be different from a long term perspective. Depending on your risk taking ability you have to decide where to put your money.
Personal Checks and Cashier's Checks
You can use personal checks to send money to India. Just write the amount you want to send in dollars and send it to the person you want to send it in India. The recipient who gets the check can deposit the check in his bank in India. This process is lengthy and it takes 15-21 days. The exchange rate at that time determines how much money the recipient will receive.
You can also use Cashier’s Checks to send money to India. Make a Cashier’s check in dollars and send it to your recipient. The recipient will encash it. The encashing procedure is faster than personal check. But there is a charge of $8 -$10 for encashing the check.
Indian stock market can offer you opportunity of making good money, whether you know about stock market or not. It can offer you lots of money even if you do not know anything about it.
When you want o buy a car but do not have money to buy it then you can go for car loans. Car loans are available today for your different type of needs. You will find car loans offered by the banks as well as the financial institutions.
Some of the banks that offer car loans are HDFC, ICICI, State Bank of India, Punjab National Bank, Citibank and so on. They offer various services and you can get your car loan in a way which is favorable to you. You can get the car loan and pay back later in monthly, or yearly installments.
"How to save taxes" is one of the biggest concern for any salaried person in India. You can see people asking others and tax consultants to give them advices on tax saving. So here are few advices and tips on tax saving in India.
Under section 80C, you can save tax by investing up to rupees 1,00,000 (One lakh) in various tax saving bonds and buying insurance. But there are more options available to you than just section 80C, like. Continue reading...