Sunday, July 31, 2011
How To Stop Hair Loss and Prevent Hair Baldness
Possessing dense and luxuriant mane covering the scalp is the dream of us all. However, very often this dream is eclipsed by the nightmare of large scale hair loss. It brings with it worries and depression. We start to desperately look for ways and means to check this menace completely or at least curb it.
It may be mentioned that a certain rate of hair fall i.e. loss of a number of hair strands per day is normal. However, when it exceeds a certain limit then it becomes a cause of concern and is considered as a problem.
Causes of hair loss and their remedies
The causes of hair loss may be many. Very often some internal malady may be the root cause. This needs to be ascertained. Bringing into effect the proper preventive treatments can stop hair loss even before it begins by detecting the symptoms. Diseases like lupus or diabetes are a cause for hair loss. The hair loss serves as an early indication of the disease. The hair loss gets treated alongside the treatment of the disease.
Hair loss can also be the side effect of certain medication. When the administration of such medicines producing hair loss is discontinued the hair loss also stops.
Lack of proper nutrition- inadequate intake of vitamins, minerals, proteins etc. may cause hair loss. Ensuring proper nutrition usually checks such hair loss.
As after effect of a major surgery or illness you may lose much hair. However, this loss is considered to be temporary and is associated to the illness or stress borne by the surgical operation carried out. Post pregnancy hair loss is also commonly heard of. This is due to some temporary hormonal changes which soon ceases. Otherwise the help of a doctor is required.
Hormonal imbalances may result in hair loss. The malfunctioning of the thyroid glands may cause hair loss. Attending to the particular type of hormonal problem and adequate treatment provided for it helps overcome the excessive hair loss too.
Treatments of hair loss are carried out as per the nature and correct cause of the problem. A proper diagnosis which may include blood tests and biopsy needs to be done for detecting the problem.
Hair loss arising from some infection of the scalp can be treated as per prescription from a doctor. Medicines are available for retarding or preventing the development of baldness by hair loss. It takes some time to find out the efficacy of such drugs.
It must be borne in mind that there is a hereditary factor too which may be working behind hair loss and baldness. This is also observed to be more prevalent in case of men. This is not easy to counteract.
It may be that no suitable treatment can stop the hair loss and baldness develops. In such cases persons concerned about their personal beauty and aesthetics with regards to their crowning glory may opt for a wig or a hairpiece. New techniques of hair grafting and hair weaving can also be sought resort to.
Cause of hair loss in men:
DHT (Dihydrotestosterone) is a highly active form of testosterone that causes hair follicle to degrade thereby shortening the anagen phase. 5-alpha reductase is the enzyme that affects the conversion of testosterone to DHT. A shorter anagen stage results in more hair fall as well as rapidly thinning hair. However, the sebaceous glands attached to the hair follicles remain unchanged. The glands continue to secrete oil and therefore it will be noticed that thinning hair results in flatter and oilier hair.
Types of hair loss:
Telogen Effluvium: Hair loss of this kind begins with overall thinning of hair from the entire scalp. A condition of this kind starts manifesting itself after an extremely stressful condition such as pregnancy, major surgery or any life-changing event. Hormonal fluctuations can also result in Telogen Effluvium. Synchronized shifts from Anagen to Talogen phases will result in this kind of sudden hair loss. Once the underlying cause is identified and suitably addressed, the hair cycles will revert to their unsynchronized patterns resulting in a normal hair growth cycle.
Androgenetic Alopecia: Females suffering Androgenetic Alopecia rarely bald completely. Androgenetic alopecia can result from thinning of hair due to genetic factors. The hair on the crown area shows a marked thinning. Female pattern Baldness (FPB) is characterized by general thinning of hair all over the head. This typically begins around the age of 30 and becomes prominent around 40. Linked to menopause, this condition leads to a balding area around the head or sometimes a receding hairline.
Alopecia Areata: This kind of balding pattern appears as small round patches of hair loss. It is a hair loss disease that appears to be set off as an autoimmune reaction when the cells prevent hair follicles from producing hair. This condition is characterized by sudden hair loss followed by patches of baldness and finally the hair growth is restored.
How To Stop Hair Loss and Prevent Hair Baldness
Possessing dense and luxuriant mane covering the scalp is the dream of us all. However, very often this dream is eclipsed by the nightmare of large scale hair loss. It brings with it worries and depression. We start to desperately look for ways and means to check this menace completely or at least curb it.
It may be mentioned that a certain rate of hair fall i.e. loss of a number of hair strands per day is normal. However, when it exceeds a certain limit then it becomes a cause of concern and is considered as a problem.
Causes of hair loss and their remedies
The causes of hair loss may be many. Very often some internal malady may be the root cause. This needs to be ascertained. Bringing into effect the proper preventive treatments can stop hair loss even before it begins by detecting the symptoms. Diseases like lupus or diabetes are a cause for hair loss. The hair loss serves as an early indication of the disease. The hair loss gets treated alongside the treatment of the disease.
Hair loss can also be the side effect of certain medication. When the administration of such medicines producing hair loss is discontinued the hair loss also stops.
Lack of proper nutrition- inadequate intake of vitamins, minerals, proteins etc. may cause hair loss. Ensuring proper nutrition usually checks such hair loss.
As after effect of a major surgery or illness you may lose much hair. However, this loss is considered to be temporary and is associated to the illness or stress borne by the surgical operation carried out. Post pregnancy hair loss is also commonly heard of. This is due to some temporary hormonal changes which soon ceases. Otherwise the help of a doctor is required.
Hormonal imbalances may result in hair loss. The malfunctioning of the thyroid glands may cause hair loss. Attending to the particular type of hormonal problem and adequate treatment provided for it helps overcome the excessive hair loss too.
Treatments of hair loss are carried out as per the nature and correct cause of the problem. A proper diagnosis which may include blood tests and biopsy needs to be done for detecting the problem.
Hair loss arising from some infection of the scalp can be treated as per prescription from a doctor. Medicines are available for retarding or preventing the development of baldness by hair loss. It takes some time to find out the efficacy of such drugs.
It must be borne in mind that there is a hereditary factor too which may be working behind hair loss and baldness. This is also observed to be more prevalent in case of men. This is not easy to counteract.
It may be that no suitable treatment can stop the hair loss and baldness develops. In such cases persons concerned about their personal beauty and aesthetics with regards to their crowning glory may opt for a wig or a hairpiece. New techniques of hair grafting and hair weaving can also be sought resort to.
Cause of hair loss in men:
DHT (Dihydrotestosterone) is a highly active form of testosterone that causes hair follicle to degrade thereby shortening the anagen phase. 5-alpha reductase is the enzyme that affects the conversion of testosterone to DHT. A shorter anagen stage results in more hair fall as well as rapidly thinning hair. However, the sebaceous glands attached to the hair follicles remain unchanged. The glands continue to secrete oil and therefore it will be noticed that thinning hair results in flatter and oilier hair.
Types of hair loss:
Telogen Effluvium: Hair loss of this kind begins with overall thinning of hair from the entire scalp. A condition of this kind starts manifesting itself after an extremely stressful condition such as pregnancy, major surgery or any life-changing event. Hormonal fluctuations can also result in Telogen Effluvium. Synchronized shifts from Anagen to Talogen phases will result in this kind of sudden hair loss. Once the underlying cause is identified and suitably addressed, the hair cycles will revert to their unsynchronized patterns resulting in a normal hair growth cycle.
Androgenetic Alopecia: Females suffering Androgenetic Alopecia rarely bald completely. Androgenetic alopecia can result from thinning of hair due to genetic factors. The hair on the crown area shows a marked thinning. Female pattern Baldness (FPB) is characterized by general thinning of hair all over the head. This typically begins around the age of 30 and becomes prominent around 40. Linked to menopause, this condition leads to a balding area around the head or sometimes a receding hairline.
Alopecia Areata: This kind of balding pattern appears as small round patches of hair loss. It is a hair loss disease that appears to be set off as an autoimmune reaction when the cells prevent hair follicles from producing hair. This condition is characterized by sudden hair loss followed by patches of baldness and finally the hair growth is restored.
How To Stop Hair Loss and Prevent Hair Baldness
Possessing dense and luxuriant mane covering the scalp is the dream of us all. However, very often this dream is eclipsed by the nightmare of large scale hair loss. It brings with it worries and depression. We start to desperately look for ways and means to check this menace completely or at least curb it.
It may be mentioned that a certain rate of hair fall i.e. loss of a number of hair strands per day is normal. However, when it exceeds a certain limit then it becomes a cause of concern and is considered as a problem.
Causes of hair loss and their remedies
The causes of hair loss may be many. Very often some internal malady may be the root cause. This needs to be ascertained. Bringing into effect the proper preventive treatments can stop hair loss even before it begins by detecting the symptoms. Diseases like lupus or diabetes are a cause for hair loss. The hair loss serves as an early indication of the disease. The hair loss gets treated alongside the treatment of the disease.
Hair loss can also be the side effect of certain medication. When the administration of such medicines producing hair loss is discontinued the hair loss also stops.
Lack of proper nutrition- inadequate intake of vitamins, minerals, proteins etc. may cause hair loss. Ensuring proper nutrition usually checks such hair loss.
As after effect of a major surgery or illness you may lose much hair. However, this loss is considered to be temporary and is associated to the illness or stress borne by the surgical operation carried out. Post pregnancy hair loss is also commonly heard of. This is due to some temporary hormonal changes which soon ceases. Otherwise the help of a doctor is required.
Hormonal imbalances may result in hair loss. The malfunctioning of the thyroid glands may cause hair loss. Attending to the particular type of hormonal problem and adequate treatment provided for it helps overcome the excessive hair loss too.
Treatments of hair loss are carried out as per the nature and correct cause of the problem. A proper diagnosis which may include blood tests and biopsy needs to be done for detecting the problem.
Hair loss arising from some infection of the scalp can be treated as per prescription from a doctor. Medicines are available for retarding or preventing the development of baldness by hair loss. It takes some time to find out the efficacy of such drugs.
It must be borne in mind that there is a hereditary factor too which may be working behind hair loss and baldness. This is also observed to be more prevalent in case of men. This is not easy to counteract.
It may be that no suitable treatment can stop the hair loss and baldness develops. In such cases persons concerned about their personal beauty and aesthetics with regards to their crowning glory may opt for a wig or a hairpiece. New techniques of hair grafting and hair weaving can also be sought resort to.
Cause of hair loss in men:
DHT (Dihydrotestosterone) is a highly active form of testosterone that causes hair follicle to degrade thereby shortening the anagen phase. 5-alpha reductase is the enzyme that affects the conversion of testosterone to DHT. A shorter anagen stage results in more hair fall as well as rapidly thinning hair. However, the sebaceous glands attached to the hair follicles remain unchanged. The glands continue to secrete oil and therefore it will be noticed that thinning hair results in flatter and oilier hair.
Types of hair loss:
Telogen Effluvium: Hair loss of this kind begins with overall thinning of hair from the entire scalp. A condition of this kind starts manifesting itself after an extremely stressful condition such as pregnancy, major surgery or any life-changing event. Hormonal fluctuations can also result in Telogen Effluvium. Synchronized shifts from Anagen to Talogen phases will result in this kind of sudden hair loss. Once the underlying cause is identified and suitably addressed, the hair cycles will revert to their unsynchronized patterns resulting in a normal hair growth cycle.
Androgenetic Alopecia: Females suffering Androgenetic Alopecia rarely bald completely. Androgenetic alopecia can result from thinning of hair due to genetic factors. The hair on the crown area shows a marked thinning. Female pattern Baldness (FPB) is characterized by general thinning of hair all over the head. This typically begins around the age of 30 and becomes prominent around 40. Linked to menopause, this condition leads to a balding area around the head or sometimes a receding hairline.
Alopecia Areata: This kind of balding pattern appears as small round patches of hair loss. It is a hair loss disease that appears to be set off as an autoimmune reaction when the cells prevent hair follicles from producing hair. This condition is characterized by sudden hair loss followed by patches of baldness and finally the hair growth is restored.
How To Stop Hair Loss and Prevent Hair Baldness
Possessing dense and luxuriant mane covering the scalp is the dream of us all. However, very often this dream is eclipsed by the nightmare of large scale hair loss. It brings with it worries and depression. We start to desperately look for ways and means to check this menace completely or at least curb it.
It may be mentioned that a certain rate of hair fall i.e. loss of a number of hair strands per day is normal. However, when it exceeds a certain limit then it becomes a cause of concern and is considered as a problem.
Causes of hair loss and their remedies
The causes of hair loss may be many. Very often some internal malady may be the root cause. This needs to be ascertained. Bringing into effect the proper preventive treatments can stop hair loss even before it begins by detecting the symptoms. Diseases like lupus or diabetes are a cause for hair loss. The hair loss serves as an early indication of the disease. The hair loss gets treated alongside the treatment of the disease.
Hair loss can also be the side effect of certain medication. When the administration of such medicines producing hair loss is discontinued the hair loss also stops.
Lack of proper nutrition- inadequate intake of vitamins, minerals, proteins etc. may cause hair loss. Ensuring proper nutrition usually checks such hair loss.
As after effect of a major surgery or illness you may lose much hair. However, this loss is considered to be temporary and is associated to the illness or stress borne by the surgical operation carried out. Post pregnancy hair loss is also commonly heard of. This is due to some temporary hormonal changes which soon ceases. Otherwise the help of a doctor is required.
Hormonal imbalances may result in hair loss. The malfunctioning of the thyroid glands may cause hair loss. Attending to the particular type of hormonal problem and adequate treatment provided for it helps overcome the excessive hair loss too.
Treatments of hair loss are carried out as per the nature and correct cause of the problem. A proper diagnosis which may include blood tests and biopsy needs to be done for detecting the problem.
Hair loss arising from some infection of the scalp can be treated as per prescription from a doctor. Medicines are available for retarding or preventing the development of baldness by hair loss. It takes some time to find out the efficacy of such drugs.
It must be borne in mind that there is a hereditary factor too which may be working behind hair loss and baldness. This is also observed to be more prevalent in case of men. This is not easy to counteract.
It may be that no suitable treatment can stop the hair loss and baldness develops. In such cases persons concerned about their personal beauty and aesthetics with regards to their crowning glory may opt for a wig or a hairpiece. New techniques of hair grafting and hair weaving can also be sought resort to.
Cause of hair loss in men:
DHT (Dihydrotestosterone) is a highly active form of testosterone that causes hair follicle to degrade thereby shortening the anagen phase. 5-alpha reductase is the enzyme that affects the conversion of testosterone to DHT. A shorter anagen stage results in more hair fall as well as rapidly thinning hair. However, the sebaceous glands attached to the hair follicles remain unchanged. The glands continue to secrete oil and therefore it will be noticed that thinning hair results in flatter and oilier hair.
Types of hair loss:
Telogen Effluvium: Hair loss of this kind begins with overall thinning of hair from the entire scalp. A condition of this kind starts manifesting itself after an extremely stressful condition such as pregnancy, major surgery or any life-changing event. Hormonal fluctuations can also result in Telogen Effluvium. Synchronized shifts from Anagen to Talogen phases will result in this kind of sudden hair loss. Once the underlying cause is identified and suitably addressed, the hair cycles will revert to their unsynchronized patterns resulting in a normal hair growth cycle.
Androgenetic Alopecia: Females suffering Androgenetic Alopecia rarely bald completely. Androgenetic alopecia can result from thinning of hair due to genetic factors. The hair on the crown area shows a marked thinning. Female pattern Baldness (FPB) is characterized by general thinning of hair all over the head. This typically begins around the age of 30 and becomes prominent around 40. Linked to menopause, this condition leads to a balding area around the head or sometimes a receding hairline.
Alopecia Areata: This kind of balding pattern appears as small round patches of hair loss. It is a hair loss disease that appears to be set off as an autoimmune reaction when the cells prevent hair follicles from producing hair. This condition is characterized by sudden hair loss followed by patches of baldness and finally the hair growth is restored.
How To Stop Hair Loss and Prevent Hair Baldness
Possessing dense and luxuriant mane covering the scalp is the dream of us all. However, very often this dream is eclipsed by the nightmare of large scale hair loss. It brings with it worries and depression. We start to desperately look for ways and means to check this menace completely or at least curb it.
It may be mentioned that a certain rate of hair fall i.e. loss of a number of hair strands per day is normal. However, when it exceeds a certain limit then it becomes a cause of concern and is considered as a problem.
Causes of hair loss and their remedies
The causes of hair loss may be many. Very often some internal malady may be the root cause. This needs to be ascertained. Bringing into effect the proper preventive treatments can stop hair loss even before it begins by detecting the symptoms. Diseases like lupus or diabetes are a cause for hair loss. The hair loss serves as an early indication of the disease. The hair loss gets treated alongside the treatment of the disease.
Hair loss can also be the side effect of certain medication. When the administration of such medicines producing hair loss is discontinued the hair loss also stops.
Lack of proper nutrition- inadequate intake of vitamins, minerals, proteins etc. may cause hair loss. Ensuring proper nutrition usually checks such hair loss.
As after effect of a major surgery or illness you may lose much hair. However, this loss is considered to be temporary and is associated to the illness or stress borne by the surgical operation carried out. Post pregnancy hair loss is also commonly heard of. This is due to some temporary hormonal changes which soon ceases. Otherwise the help of a doctor is required.
Hormonal imbalances may result in hair loss. The malfunctioning of the thyroid glands may cause hair loss. Attending to the particular type of hormonal problem and adequate treatment provided for it helps overcome the excessive hair loss too.
Treatments of hair loss are carried out as per the nature and correct cause of the problem. A proper diagnosis which may include blood tests and biopsy needs to be done for detecting the problem.
Hair loss arising from some infection of the scalp can be treated as per prescription from a doctor. Medicines are available for retarding or preventing the development of baldness by hair loss. It takes some time to find out the efficacy of such drugs.
It must be borne in mind that there is a hereditary factor too which may be working behind hair loss and baldness. This is also observed to be more prevalent in case of men. This is not easy to counteract.
It may be that no suitable treatment can stop the hair loss and baldness develops. In such cases persons concerned about their personal beauty and aesthetics with regards to their crowning glory may opt for a wig or a hairpiece. New techniques of hair grafting and hair weaving can also be sought resort to.
Cause of hair loss in men:
DHT (Dihydrotestosterone) is a highly active form of testosterone that causes hair follicle to degrade thereby shortening the anagen phase. 5-alpha reductase is the enzyme that affects the conversion of testosterone to DHT. A shorter anagen stage results in more hair fall as well as rapidly thinning hair. However, the sebaceous glands attached to the hair follicles remain unchanged. The glands continue to secrete oil and therefore it will be noticed that thinning hair results in flatter and oilier hair.
Types of hair loss:
Telogen Effluvium: Hair loss of this kind begins with overall thinning of hair from the entire scalp. A condition of this kind starts manifesting itself after an extremely stressful condition such as pregnancy, major surgery or any life-changing event. Hormonal fluctuations can also result in Telogen Effluvium. Synchronized shifts from Anagen to Talogen phases will result in this kind of sudden hair loss. Once the underlying cause is identified and suitably addressed, the hair cycles will revert to their unsynchronized patterns resulting in a normal hair growth cycle.
Androgenetic Alopecia: Females suffering Androgenetic Alopecia rarely bald completely. Androgenetic alopecia can result from thinning of hair due to genetic factors. The hair on the crown area shows a marked thinning. Female pattern Baldness (FPB) is characterized by general thinning of hair all over the head. This typically begins around the age of 30 and becomes prominent around 40. Linked to menopause, this condition leads to a balding area around the head or sometimes a receding hairline.
Alopecia Areata: This kind of balding pattern appears as small round patches of hair loss. It is a hair loss disease that appears to be set off as an autoimmune reaction when the cells prevent hair follicles from producing hair. This condition is characterized by sudden hair loss followed by patches of baldness and finally the hair growth is restored.
How To Stop Hair Loss and Prevent Hair Baldness
Possessing dense and luxuriant mane covering the scalp is the dream of us all. However, very often this dream is eclipsed by the nightmare of large scale hair loss. It brings with it worries and depression. We start to desperately look for ways and means to check this menace completely or at least curb it.
It may be mentioned that a certain rate of hair fall i.e. loss of a number of hair strands per day is normal. However, when it exceeds a certain limit then it becomes a cause of concern and is considered as a problem.
Causes of hair loss and their remedies
The causes of hair loss may be many. Very often some internal malady may be the root cause. This needs to be ascertained. Bringing into effect the proper preventive treatments can stop hair loss even before it begins by detecting the symptoms. Diseases like lupus or diabetes are a cause for hair loss. The hair loss serves as an early indication of the disease. The hair loss gets treated alongside the treatment of the disease.
Hair loss can also be the side effect of certain medication. When the administration of such medicines producing hair loss is discontinued the hair loss also stops.
Lack of proper nutrition- inadequate intake of vitamins, minerals, proteins etc. may cause hair loss. Ensuring proper nutrition usually checks such hair loss.
As after effect of a major surgery or illness you may lose much hair. However, this loss is considered to be temporary and is associated to the illness or stress borne by the surgical operation carried out. Post pregnancy hair loss is also commonly heard of. This is due to some temporary hormonal changes which soon ceases. Otherwise the help of a doctor is required.
Hormonal imbalances may result in hair loss. The malfunctioning of the thyroid glands may cause hair loss. Attending to the particular type of hormonal problem and adequate treatment provided for it helps overcome the excessive hair loss too.
Treatments of hair loss are carried out as per the nature and correct cause of the problem. A proper diagnosis which may include blood tests and biopsy needs to be done for detecting the problem.
Hair loss arising from some infection of the scalp can be treated as per prescription from a doctor. Medicines are available for retarding or preventing the development of baldness by hair loss. It takes some time to find out the efficacy of such drugs.
It must be borne in mind that there is a hereditary factor too which may be working behind hair loss and baldness. This is also observed to be more prevalent in case of men. This is not easy to counteract.
It may be that no suitable treatment can stop the hair loss and baldness develops. In such cases persons concerned about their personal beauty and aesthetics with regards to their crowning glory may opt for a wig or a hairpiece. New techniques of hair grafting and hair weaving can also be sought resort to.
Cause of hair loss in men:
DHT (Dihydrotestosterone) is a highly active form of testosterone that causes hair follicle to degrade thereby shortening the anagen phase. 5-alpha reductase is the enzyme that affects the conversion of testosterone to DHT. A shorter anagen stage results in more hair fall as well as rapidly thinning hair. However, the sebaceous glands attached to the hair follicles remain unchanged. The glands continue to secrete oil and therefore it will be noticed that thinning hair results in flatter and oilier hair.
Types of hair loss:
Telogen Effluvium: Hair loss of this kind begins with overall thinning of hair from the entire scalp. A condition of this kind starts manifesting itself after an extremely stressful condition such as pregnancy, major surgery or any life-changing event. Hormonal fluctuations can also result in Telogen Effluvium. Synchronized shifts from Anagen to Talogen phases will result in this kind of sudden hair loss. Once the underlying cause is identified and suitably addressed, the hair cycles will revert to their unsynchronized patterns resulting in a normal hair growth cycle.
Androgenetic Alopecia: Females suffering Androgenetic Alopecia rarely bald completely. Androgenetic alopecia can result from thinning of hair due to genetic factors. The hair on the crown area shows a marked thinning. Female pattern Baldness (FPB) is characterized by general thinning of hair all over the head. This typically begins around the age of 30 and becomes prominent around 40. Linked to menopause, this condition leads to a balding area around the head or sometimes a receding hairline.
Alopecia Areata: This kind of balding pattern appears as small round patches of hair loss. It is a hair loss disease that appears to be set off as an autoimmune reaction when the cells prevent hair follicles from producing hair. This condition is characterized by sudden hair loss followed by patches of baldness and finally the hair growth is restored.
Thursday, July 28, 2011
Republicans put off vote debt limit
An intense endgame at hand, House Republican leaders put off a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
Republicans put off vote debt limit
An intense endgame at hand, House Republican leaders put off a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
Republicans put off vote debt limit
An intense endgame at hand, House Republican leaders put off a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
Republicans put off vote debt limit
An intense endgame at hand, House Republican leaders put off a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
GOP leaders announced their decision after abruptly halting debate on the legislation and plunging into an intensive round of meetings with rebellious conservatives.
The decision created fresh turmoil as a divided government struggled to head off a default threatened after next Tuesday that would leave the Treasury without the funds needed to pay all its bills.
As the evening slipped by, the White House poked fun at Republicans led by Speaker John Boehner, who has become President Barack Obama's principal antagonist in a contentious era of divided government. And Senate Democrats pledged to scuttle the measure -- if it ever got to them -- to force a final compromise.
Boehner summoned a string of Republican critics of the bill to his office.
Asked what he and the speaker had talked about, Rep. Jeff Flake, R-Ariz., said, "I think that's rather obvious. ... There's negotiations going on."
Based on public statements by lawmakers themselves, it appeared that five of some two dozen holdouts were from South Carolina. The state is also represented by Sen. Jim DeMint, who has solid ties to tea party groups and is a strong critic of compromising on the debt issue.
A few first-term conservatives slipped into a small chapel a few paces down the hall from the Capitol Rotunda as they contemplated one of the most consequential votes of their careers.
Asked if he was seeking divine inspiration, Rep. Tim Scott, R-S.C., said that had already happened. "I was leaning no and now I am a no."
Many more congregated in the office of the chief GOP vote counter, California Rep. Kevin McCarthy, perhaps drawn to the 19 boxes of pizza that were rolled in. Boehner joined them but did not speak to reporters.
"Clock ticks towards August 2, House is naming post offices, while leaders twist arms for a pointless vote. No wonder people hate Washington," White House Communications Director Dan Pfeiffer tweeted.
Earlier, Boehner had exuded optimism.
"Let's pass this bill and end the crisis," said the president's principal Republican antagonist in a new and contentious era of divided government. "It raises the debt limit and cuts government spending by a larger amount."
President Barack Obama has threatened to veto the measure, and in debate on the House floor, Rep. Debbie Wasserman Schultz of Florida savaged it as a "Republican plan for default." She said the GOP hoped to "hold our economy hostage while forcing an ideological agenda" on the country.
Despite the sharp rhetoric, there were signs that gridlock might be giving way.
"Around here you've got to have deadlock before you have breakthrough," said Sen. Kent Conrad, D-N.D. "We're at that stage now."
Wall Street suffered fresh losses as Congress struggled to break its long gridlock. The Dow Jones industrial average was down for a fifth straight session.
The Treasury Department moved ahead with plans to hold its regular weekly auction of three-month and six-month securities on Monday. Yet officials offered no information on what steps would be taken if Congress failed to raise the nation's $14.3 trillion debt limit by the following day.
Without signed legislation by Aug. 2, the Treasury will not have enough funds to pay all the nation's bills. Administration officials have warned of potentially calamitous effects on the economy if that happens -- a spike in interest rates, a plunge in stock markets and a tightening in the job market in a nation already struggling with unemployment over 9 percent.
White House press secretary Jay Carney outlined White House compromise terms: "significant deficit reduction, a mechanism by which Congress would take on the tough issues of tax reform and entitlement reform and a lifting of the debt ceiling beyond ... into 2013."
The last point loomed as the biggest obstacle.
The House bill cuts spending by $917 billion over a decade, principally by holding down costs for hundreds of government programs ranging from the Park Service to the Agriculture Department and foreign aid.
It also provides an immediate debt limit increase of $900 billion, which is less than half of the total needed to meet Obama's insistence that there be no replay of the current crisis in the heat of the 2012 election campaigns.
An additional $1.6 trillion in borrowing authority would be conditioned on passage of The endgame at hand, House Republicans struggled Thursday to pass legislation to prevent a looming government default while slicing nearly $1 trillion from federal spending. Senate Democrats pledged to scuttle the bill -- if it got to them -- in hopes of forcing a final compromise.
The GOP bill's $917 billion in upfront spending cuts was trillions less than many tea party-backed rank-and-file Republican lawmakers wanted, but a total that seemed nearly unimaginable when they took power in the House last winter with an agenda of reining in government. Numerous Republicans grumbled that the legislation didn't cut more deeply, and Boehner and the rest of the GOP leadership have spent their week cajoling reluctant conservatives to provide the votes needed to pass it.
By most accounts, they were succeeding.
"It gives us a little bit of heartburn because it doesn't go big enough," said Rep. Sean Duffy, R-Wis., a first-term lawmaker who said he would vote for the bill as the best one available.
Another first-term Republican, Rep. Martha Roby of Alabama, said the bill was "far from perfect. But I don't have the luxury of writing the plan by myself, and neither does Speaker Boehner."
While the White House and Democrats objected to the House bill, they readied an alternative that contained similarities.
Drafted by Senate Majority Leader Harry Reid, it provides for $2.7 trillion in additional borrowing authority for the Treasury. It also calls for cuts of $2.2 trillion, including about $1 trillion in Pentagon savings that assume the end of the wars in Iraq and Afghanistan.
Even before the House voted, Reid served notice he would stage a vote to kill the legislation almost instantly.
"No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now," he said.
With the House and Senate focused on debt-limit legislation at opposite ends of the Capitol, 11 religious leaders protesting budget cuts were arrested in the Rotunda midway between the two chambers.
Democratic Rep. Chellie Pingree of Maine said on the House floor that they were praying for those who will be "hurt the hardest" by the bill being considered.
Rep. David Dreier, R-Calif., countered that he, too was praying -- to avoid a default.
The day's events marked the climax of a struggle that began last winter, when the Treasury Department notified Congress it would need additional borrowing authority, and Boehner said any increase would have to include steps to reduce future spending.
At first the White House balked at the terms, then relented. That gradually morphed into a series of bipartisan negotiations, one led by Vice President Joe Biden, then another by Obama, and finally, a round of golf that led to stab at a "grand bargain" between the president and Boehner.
Boehner announced last Friday he was calling off the talks, setting in motion a frantic week of maneuvering as the default deadline grew near.
Associated Press writers Andrew Taylor, Donna Cassata, Stephen Ohlemacher, Larry Margasak, Martin Crutsinger, Charles Babington, Darlene Superville and Jim Kuhnhenn contributed to this report.
Wednesday, July 27, 2011
Auto, realty sectors unhappy at interest rate hike
Automobile and realty sectors Tuesday voiced reservations over the RBI decision to hike interest rates by 50 basis points to tame inflation, which sets the stage for commercial banks to raise interest charged on personal and corporate loans.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
Auto, realty sectors unhappy at interest rate hike
Automobile and realty sectors Tuesday voiced reservations over the RBI decision to hike interest rates by 50 basis points to tame inflation, which sets the stage for commercial banks to raise interest charged on personal and corporate loans.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
Auto, realty sectors unhappy at interest rate hike
Automobile and realty sectors Tuesday voiced reservations over the RBI decision to hike interest rates by 50 basis points to tame inflation, which sets the stage for commercial banks to raise interest charged on personal and corporate loans.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
Auto, realty sectors unhappy at interest rate hike
Automobile and realty sectors Tuesday voiced reservations over the RBI decision to hike interest rates by 50 basis points to tame inflation, which sets the stage for commercial banks to raise interest charged on personal and corporate loans.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
Auto, realty sectors unhappy at interest rate hike
Automobile and realty sectors Tuesday voiced reservations over the RBI decision to hike interest rates by 50 basis points to tame inflation, which sets the stage for commercial banks to raise interest charged on personal and corporate loans.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
Auto, realty sectors unhappy at interest rate hike
Automobile and realty sectors Tuesday voiced reservations over the RBI decision to hike interest rates by 50 basis points to tame inflation, which sets the stage for commercial banks to raise interest charged on personal and corporate loans.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
'If today's rate increase is passed on to the retail lending rate for cars, it will further impact the sales,' Arvind Saxena, director, marketing and sales, Hyundai Motor India Ltd, told IANS.
Saxena said the impact of the latest hike in basis points would be more on the small car segment.
'The impact is felt more on the small car segment as the customers have relatively lower affordability,' Saxena said.
Saxena's views were shared by Pawan Goenka, president of the Society of Indian Automobile Manufacturers (SIAM) who felt that the move would hit automobile sales hard.
'The 50 bps hike in the interest rates announced by the RBI could hit passenger vehicle sales very hard,' said Goenka.
Goenka further said the rate hike by RBI had led SIAM to scale down passenger vehicle sales forecast for this year, from 16-18 percent to 10-12 percent.
'We will have to wait and see the response by the banks to this latest interest rate hike to assess the real impact on the market,' Goenka said.
SIAM said the auto industry, already reeling under the pressure from high interest rates, fuel and input costs, could see further dampening in short to medium term sales as buyers may decide to postpone vehicle purchase.
'The growth rate of the passenger vehicle sales has dropped from about 33 percent last year to about 9 percent in the last quarter,' SIAM said in a statement.
In the real estate sector, experts say the slow-down in sales due to high interest rates on home loan will only worsen, as builders would now have to pass on even the extra cost of borrowing for new projects on customers.
'As real estate developer, we are not left with any choice but to pass on the same to our buyers, resulting in increase in property prices,' said Pradeep Jain, chairman of Parsvnath Developers Limited who also heads the Confederation of Real Estate Developers' Association of India (CREDAI).
Jain said that rate tightening in the past 17 months has already resulted in moderation of growth coupled with fall in consumption of cement, steel and automobiles during the first quarter of 2011-12 fiscal.
'The effects of slower growth have also been seen in sales of everything, may be real estate, may be car sales etc,' Jain said.
The rate hikes were effected by Reserve Bank of India (RBI) Governor D. Subbarao during the first quarterly review of the apex bank's monetary policy for this fiscal conducted at his headquarters in Mint Road here.
The repurchase rate, the interest the central bank levies on short-term borrowing by commercial banks, has been hiked to 8 percent from 7.5 percent and reverse repurchase rate, or interest paid on short-term lending, raised to 7 percent from 6.5 percent.
Ready for impact of possible U.S. default - RBI
India has sufficient liquidity to manage a possible debt default by the United States, and the Reserve Bank of India is prepared for any resulting repercussions in the financial markets, Governor Duvvuri Subbarao said on Tuesday.
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
Ready for impact of possible U.S. default - RBI
India has sufficient liquidity to manage a possible debt default by the United States, and the Reserve Bank of India is prepared for any resulting repercussions in the financial markets, Governor Duvvuri Subbarao said on Tuesday.
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
Ready for impact of possible U.S. default - RBI
India has sufficient liquidity to manage a possible debt default by the United States, and the Reserve Bank of India is prepared for any resulting repercussions in the financial markets, Governor Duvvuri Subbarao said on Tuesday.
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
Tuesday, July 26, 2011
Ready for impact of possible U.S. default - RBI
India has sufficient liquidity to manage a possible debt default by the United States, and the Reserve Bank of India is prepared for any resulting repercussions in the financial markets, Governor Duvvuri Subbarao said on Tuesday.
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
Ready for impact of possible U.S. default - RBI
India has sufficient liquidity to manage a possible debt default by the United States, and the Reserve Bank of India is prepared for any resulting repercussions in the financial markets, Governor Duvvuri Subbarao said on Tuesday.
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
The country has had scheduled bilateral consultation with the United States, but the RBI was not a part of the talks and the discussion did not concern the U.S. debt impasse, Subbarao said at the post policy press conference.
Earlier on Tuesday, RBI raised interest rates by a higher-than-expected 50 basis points, its 11th since March 2010, stepping up its fight against persistently high inflation despite slowing growth in Asia's third-largest economy
Sunday, July 24, 2011
Tradetoprofit.in The Best Stock Market Advisory Company
GET DAILY 5 TO 10 % ASSURED PROFIT FROM JUST 2 INTRADAY CALLS,SUBSCRIBE TO INTRADAY BLASTER PACKAGE,OR GET AT LEAST 20 POINTS ASSURED DAILY FROM JUST I CALL IN NIFTY FUTURES,SUBSCRIBE TO NIFTY SURE SHOT PACKAGE.For More Details Mail:- info@tradetoprofit.in, admin@tradetoprofit.in call : +91-9990323428,9910664620.
INTRADAY BLASTER (EQUITY-CASH)
DETAILS:-
1-DAILY 2 CALLS ARE PROVIDED
2-LIVE MARKET CALLS AT CURRENT MARKET PRICE
3-CALL FORMAT- BUY SCRIP AT 100 ,TGT-110,SL-97
4-FULL FOLLOW UO MESSAGES TILL OPEN POSITIONS
5-BOTH CALLS MAY OPEN AT A SINGLE POINT OF TIME PROFIT PROVIDED IS NET PROFIT OF 5 TO 10 % FROM BOTH THE CALLS
6-ACCURACY= 90 %
7-BOTH CALLS ARE CASH CALLS
TIPS ARE PROVIDED BY SMS AND ALSO ON YAHOO MASSANGER SERVICE.
PREMIUM SMS SERVICE THAT IS GURANTEE OF INTIME DELIVERY OF EVERY TIPS. (WITHIN 6 SECONDS)
ALL TIPS ARE PROVIDED DURING LIVE MARKET HOURS.
PROPER ENTRY EXIT STOPLOSS MESSAGES ARE PROVIDED TILL OPEN POSITIONS.
MORE THAN 90 % ASSURED ACCURACY.
1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
WE DON’T RECOMMEND OVERTRADING
CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
MAXIMUM 2 CALLS WILL REMAIN OPEN AT A SINGLE POINT OF TIME.
PRICING:-
(a)5 DAYS TRIAL RS 1300
(b)1 MONTHS RS 5000
(c)3 MONTHS RS 14000
(c)6 MONTHS RS 27000
(c)12 MONTHS RS 52,000
Tradetoprofit.in The Best Stock Market Advisory Company
GET DAILY 5 TO 10 % ASSURED PROFIT FROM JUST 2 INTRADAY CALLS,SUBSCRIBE TO INTRADAY BLASTER PACKAGE,OR GET AT LEAST 20 POINTS ASSURED DAILY FROM JUST I CALL IN NIFTY FUTURES,SUBSCRIBE TO NIFTY SURE SHOT PACKAGE.For More Details Mail:- info@tradetoprofit.in, admin@tradetoprofit.in call : +91-9990323428,9910664620.
INTRADAY BLASTER (EQUITY-CASH)
DETAILS:-
1-DAILY 2 CALLS ARE PROVIDED
2-LIVE MARKET CALLS AT CURRENT MARKET PRICE
3-CALL FORMAT- BUY SCRIP AT 100 ,TGT-110,SL-97
4-FULL FOLLOW UO MESSAGES TILL OPEN POSITIONS
5-BOTH CALLS MAY OPEN AT A SINGLE POINT OF TIME PROFIT PROVIDED IS NET PROFIT OF 5 TO 10 % FROM BOTH THE CALLS
6-ACCURACY= 90 %
7-BOTH CALLS ARE CASH CALLS
TIPS ARE PROVIDED BY SMS AND ALSO ON YAHOO MASSANGER SERVICE.
PREMIUM SMS SERVICE THAT IS GURANTEE OF INTIME DELIVERY OF EVERY TIPS. (WITHIN 6 SECONDS)
ALL TIPS ARE PROVIDED DURING LIVE MARKET HOURS.
PROPER ENTRY EXIT STOPLOSS MESSAGES ARE PROVIDED TILL OPEN POSITIONS.
MORE THAN 90 % ASSURED ACCURACY.
1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
WE DON’T RECOMMEND OVERTRADING
CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
MAXIMUM 2 CALLS WILL REMAIN OPEN AT A SINGLE POINT OF TIME.
PRICING:-
(a)5 DAYS TRIAL RS 1300
(b)1 MONTHS RS 5000
(c)3 MONTHS RS 14000
(c)6 MONTHS RS 27000
(c)12 MONTHS RS 52,000
Tradetoprofit.in The Best Stock Market Advisory Company
GET DAILY 5 TO 10 % ASSURED PROFIT FROM JUST 2 INTRADAY CALLS,SUBSCRIBE TO INTRADAY BLASTER PACKAGE,OR GET AT LEAST 20 POINTS ASSURED DAILY FROM JUST I CALL IN NIFTY FUTURES,SUBSCRIBE TO NIFTY SURE SHOT PACKAGE.For More Details Mail:- info@tradetoprofit.in, admin@tradetoprofit.in call : +91-9990323428,9910664620.
INTRADAY BLASTER (EQUITY-CASH)
DETAILS:-
1-DAILY 2 CALLS ARE PROVIDED
2-LIVE MARKET CALLS AT CURRENT MARKET PRICE
3-CALL FORMAT- BUY SCRIP AT 100 ,TGT-110,SL-97
4-FULL FOLLOW UO MESSAGES TILL OPEN POSITIONS
5-BOTH CALLS MAY OPEN AT A SINGLE POINT OF TIME PROFIT PROVIDED IS NET PROFIT OF 5 TO 10 % FROM BOTH THE CALLS
6-ACCURACY= 90 %
7-BOTH CALLS ARE CASH CALLS
TIPS ARE PROVIDED BY SMS AND ALSO ON YAHOO MASSANGER SERVICE.
PREMIUM SMS SERVICE THAT IS GURANTEE OF INTIME DELIVERY OF EVERY TIPS. (WITHIN 6 SECONDS)
ALL TIPS ARE PROVIDED DURING LIVE MARKET HOURS.
PROPER ENTRY EXIT STOPLOSS MESSAGES ARE PROVIDED TILL OPEN POSITIONS.
MORE THAN 90 % ASSURED ACCURACY.
1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
WE DON’T RECOMMEND OVERTRADING
CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
MAXIMUM 2 CALLS WILL REMAIN OPEN AT A SINGLE POINT OF TIME.
PRICING:-
(a)5 DAYS TRIAL RS 1300
(b)1 MONTHS RS 5000
(c)3 MONTHS RS 14000
(c)6 MONTHS RS 27000
(c)12 MONTHS RS 52,000
Tradetoprofit.in The Best Stock Market Advisory Company
GET DAILY 5 TO 10 % ASSURED PROFIT FROM JUST 2 INTRADAY CALLS,SUBSCRIBE TO INTRADAY BLASTER PACKAGE,OR GET AT LEAST 20 POINTS ASSURED DAILY FROM JUST I CALL IN NIFTY FUTURES,SUBSCRIBE TO NIFTY SURE SHOT PACKAGE.For More Details Mail:- info@tradetoprofit.in, admin@tradetoprofit.in call : +91-9990323428,9910664620.
INTRADAY BLASTER (EQUITY-CASH)
DETAILS:-
1-DAILY 2 CALLS ARE PROVIDED
2-LIVE MARKET CALLS AT CURRENT MARKET PRICE
3-CALL FORMAT- BUY SCRIP AT 100 ,TGT-110,SL-97
4-FULL FOLLOW UO MESSAGES TILL OPEN POSITIONS
5-BOTH CALLS MAY OPEN AT A SINGLE POINT OF TIME PROFIT PROVIDED IS NET PROFIT OF 5 TO 10 % FROM BOTH THE CALLS
6-ACCURACY= 90 %
7-BOTH CALLS ARE CASH CALLS
TIPS ARE PROVIDED BY SMS AND ALSO ON YAHOO MASSANGER SERVICE.
PREMIUM SMS SERVICE THAT IS GURANTEE OF INTIME DELIVERY OF EVERY TIPS. (WITHIN 6 SECONDS)
ALL TIPS ARE PROVIDED DURING LIVE MARKET HOURS.
PROPER ENTRY EXIT STOPLOSS MESSAGES ARE PROVIDED TILL OPEN POSITIONS.
MORE THAN 90 % ASSURED ACCURACY.
1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
WE DON’T RECOMMEND OVERTRADING
CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
MAXIMUM 2 CALLS WILL REMAIN OPEN AT A SINGLE POINT OF TIME.
PRICING:-
(a)5 DAYS TRIAL RS 1300
(b)1 MONTHS RS 5000
(c)3 MONTHS RS 14000
(c)6 MONTHS RS 27000
(c)12 MONTHS RS 52,000
Tradetoprofit.in The Best Stock Market Advisory Company
GET DAILY 5 TO 10 % ASSURED PROFIT FROM JUST 2 INTRADAY CALLS,SUBSCRIBE TO INTRADAY BLASTER PACKAGE,OR GET AT LEAST 20 POINTS ASSURED DAILY FROM JUST I CALL IN NIFTY FUTURES,SUBSCRIBE TO NIFTY SURE SHOT PACKAGE.For More Details Mail:- info@tradetoprofit.in, admin@tradetoprofit.in call : +91-9990323428,9910664620.
INTRADAY BLASTER (EQUITY-CASH)
DETAILS:-
1-DAILY 2 CALLS ARE PROVIDED
2-LIVE MARKET CALLS AT CURRENT MARKET PRICE
3-CALL FORMAT- BUY SCRIP AT 100 ,TGT-110,SL-97
4-FULL FOLLOW UO MESSAGES TILL OPEN POSITIONS
5-BOTH CALLS MAY OPEN AT A SINGLE POINT OF TIME PROFIT PROVIDED IS NET PROFIT OF 5 TO 10 % FROM BOTH THE CALLS
6-ACCURACY= 90 %
7-BOTH CALLS ARE CASH CALLS
TIPS ARE PROVIDED BY SMS AND ALSO ON YAHOO MASSANGER SERVICE.
PREMIUM SMS SERVICE THAT IS GURANTEE OF INTIME DELIVERY OF EVERY TIPS. (WITHIN 6 SECONDS)
ALL TIPS ARE PROVIDED DURING LIVE MARKET HOURS.
PROPER ENTRY EXIT STOPLOSS MESSAGES ARE PROVIDED TILL OPEN POSITIONS.
MORE THAN 90 % ASSURED ACCURACY.
1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
WE DON’T RECOMMEND OVERTRADING
CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
MAXIMUM 2 CALLS WILL REMAIN OPEN AT A SINGLE POINT OF TIME.
PRICING:-
(a)5 DAYS TRIAL RS 1300
(b)1 MONTHS RS 5000
(c)3 MONTHS RS 14000
(c)6 MONTHS RS 27000
(c)12 MONTHS RS 52,000
Tradetoprofit.in The Best Stock Market Advisory Company
GET DAILY 5 TO 10 % ASSURED PROFIT FROM JUST 2 INTRADAY CALLS,SUBSCRIBE TO INTRADAY BLASTER PACKAGE,OR GET AT LEAST 20 POINTS ASSURED DAILY FROM JUST I CALL IN NIFTY FUTURES,SUBSCRIBE TO NIFTY SURE SHOT PACKAGE.For More Details Mail:- info@tradetoprofit.in, admin@tradetoprofit.in call : +91-9990323428,9910664620.
INTRADAY BLASTER (EQUITY-CASH)
DETAILS:-
1-DAILY 2 CALLS ARE PROVIDED
2-LIVE MARKET CALLS AT CURRENT MARKET PRICE
3-CALL FORMAT- BUY SCRIP AT 100 ,TGT-110,SL-97
4-FULL FOLLOW UO MESSAGES TILL OPEN POSITIONS
5-BOTH CALLS MAY OPEN AT A SINGLE POINT OF TIME PROFIT PROVIDED IS NET PROFIT OF 5 TO 10 % FROM BOTH THE CALLS
6-ACCURACY= 90 %
7-BOTH CALLS ARE CASH CALLS
TIPS ARE PROVIDED BY SMS AND ALSO ON YAHOO MASSANGER SERVICE.
PREMIUM SMS SERVICE THAT IS GURANTEE OF INTIME DELIVERY OF EVERY TIPS. (WITHIN 6 SECONDS)
ALL TIPS ARE PROVIDED DURING LIVE MARKET HOURS.
PROPER ENTRY EXIT STOPLOSS MESSAGES ARE PROVIDED TILL OPEN POSITIONS.
MORE THAN 90 % ASSURED ACCURACY.
1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
WE DON’T RECOMMEND OVERTRADING
CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
MAXIMUM 2 CALLS WILL REMAIN OPEN AT A SINGLE POINT OF TIME.
PRICING:-
(a)5 DAYS TRIAL RS 1300
(b)1 MONTHS RS 5000
(c)3 MONTHS RS 14000
(c)6 MONTHS RS 27000
(c)12 MONTHS RS 52,000
Thursday, July 21, 2011
Biocon Q1 net profit up 7.4 pct
Biocon Ltd, India's top-listed biotechnology firm, on Thursday said profit rose 7.4 percent in its fiscal first quarter, but lagged consensus forecasts.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Biocon Q1 net profit up 7.4 pct
Biocon Ltd, India's top-listed biotechnology firm, on Thursday said profit rose 7.4 percent in its fiscal first quarter, but lagged consensus forecasts.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Biocon Q1 net profit up 7.4 pct
Biocon Ltd, India's top-listed biotechnology firm, on Thursday said profit rose 7.4 percent in its fiscal first quarter, but lagged consensus forecasts.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Biocon Q1 net profit up 7.4 pct
Biocon Ltd, India's top-listed biotechnology firm, on Thursday said profit rose 7.4 percent in its fiscal first quarter, but lagged consensus forecasts.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Biocon Q1 net profit up 7.4 pct
Biocon Ltd, India's top-listed biotechnology firm, on Thursday said profit rose 7.4 percent in its fiscal first quarter, but lagged consensus forecasts.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Biocon Q1 net profit up 7.4 pct
Biocon Ltd, India's top-listed biotechnology firm, on Thursday said profit rose 7.4 percent in its fiscal first quarter, but lagged consensus forecasts.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Bangalore-based Biocon said consolidated net profit rose to 700.5 million rupees ($15.76 million) for the quarter ended June from 652.2 million rupees in the year-ago quarter.
A Reuters poll of brokerages had expected the company to post a net profit of 896 million rupees.
Food inflation at 7.58%,no change in fuel index.
India food inflation for the week ended July 9 came in at 7.58 per cent as against 8.31 per cent the previous week while the fuel price index remained unchanged at 11.89 per cent. The primary articles price index was up 11.13 percent, compared with an annual rise of 11.58 percent a week earlier.
The Reserve Bank of India has been frequently hiking interest rates in an effort to curb inflation and is expected to raise rates by another 25 basis points in its monetary review next week. The central bank has spiked its key rates a record 10 times since March 2010 whereby it has pushed up the short-term lending (repo) and reverse repo or borrowing rates by a massive 275 basis points.
The Indian Bank's Association in its meeting with the RBI Deputy Governor had urged the central bank to pause in its interest rate hike as it would retard India's economic growth.
The wholesale price inflation quickened in June to an annual 9.44 percent from 9.06 percent in May, driven by higher prices of manufactured goods and fuel, even though the economy showed signs of cooling.
The Congress-led coalition government also raised diesel prices by around nine percent at the end of June for the first time in a year, far below the near 36 per cent gain seen in international prices over the same period, but enough to rouse public protest contributing further to India's inflation
However, the government is now expected to pause in its price hike or even announce deregulation of diesel prices this year, as concerns over inflation and state elections eclipse the need to cut spending and keep pace with global oil prices.
The Reserve Bank of India has been frequently hiking interest rates in an effort to curb inflation and is expected to raise rates by another 25 basis points in its monetary review next week. The central bank has spiked its key rates a record 10 times since March 2010 whereby it has pushed up the short-term lending (repo) and reverse repo or borrowing rates by a massive 275 basis points.
The Indian Bank's Association in its meeting with the RBI Deputy Governor had urged the central bank to pause in its interest rate hike as it would retard India's economic growth.
The wholesale price inflation quickened in June to an annual 9.44 percent from 9.06 percent in May, driven by higher prices of manufactured goods and fuel, even though the economy showed signs of cooling.
The Congress-led coalition government also raised diesel prices by around nine percent at the end of June for the first time in a year, far below the near 36 per cent gain seen in international prices over the same period, but enough to rouse public protest contributing further to India's inflation
However, the government is now expected to pause in its price hike or even announce deregulation of diesel prices this year, as concerns over inflation and state elections eclipse the need to cut spending and keep pace with global oil prices.
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