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Fuzzwords

Fuzzwords

2012 has been an action-packed year for the business cosmos. Here’s a look at the most trendy Finance words in 2012.

Fiscal Cliff- Coined by the US Federal Reserve Chairman Ben Bernanke, fiscal cliff refers to the economic scenario that the world's largest economy faces at the start of 2013 due to proposed spending cuts and tax hikes.

LIBOR- hogged the limelight after a scandal broke out about manipulation of the London Interbank Offered Rate (a benchmark reference rate used international financial markets) by traders and brokers.

GAAR(General Anti Avoidance Rules)- terrorized the foreign investors and was widely criticized by Industry bodies and associations.

100 crore club- With 9 movies crossing the monstrous mark at the box office, this was the year of profits for Bollywood.

Companies bill 2012- Was passed in the Lok Sabha, which aims to revise & modify the archaic Companies Act.

Direct Cash Transfer- would help millions of students, the elderly and women community workers in villages to receive their monthly honoraria in time. The cash transfer scheme is an initiative to cut down leakages and corruption in the implementation of various social sector schemes.

FDI in multi brand retail-51% FDI in multi brand retail in all products was permitted thus facilitating entry of global biggies like Walmart, IKEA etc.

Coal Gate- No this one is not the “Number 1 recommended by dentists” but it’s the “number 1 scam” with the official loss pegged at Rs 1.86 lakh crore by C&AG.