India to clock 7.1% GDP this year, 7.5% in 2018: UN report
PTI India is expected to clock 7.1% growth this year before edging up to 7.5% in 2018, according to a UN report, which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks. The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report 'The Economic and Social Survey of Asia and the Pacific 2017' launched yesterday that the economic growth for India is projected to be stable at 7.1% in 2017 before edging up to 7.5% in 2018, underpinned by higher private and public consumption and increased infrastructure spending. Growth in India is forecast at 7.1% this year as "re-monetisation restores consumption, ...
Jet continues to burn cash; FDI cap the culprit?
The Dollar Business Bureau There’s more bad news for prospective foreign investors in the Indian civil aviation sector as airlines major Jet Airways has reported a net loss of Rs.1,813.7 crore (standalone) for FY2015. This, despite a big fall in its fuel expense. The full year results that were released on Friday show that despite the carrier’s fuel expenses falling to just 34.2% of its sales – the lowest since FY2010 – losses continue to mount. While some might take heart from the fact that its FY2015 loss is a huge improvement from the Rs.3.667.9 crore loss the company had incurred in FY2014, its shares plunging by over 6% on Monday indicate that investors are tired of seeing the glass half ...
