IMF thinks GST will propel Indias growth to over 8%
The Dollar Business Bureau IMF believes that the GST reform will pay-off, and help India grow beyond 8%. A senior IMF official was quoted as saying that the Indian government’s significant progress will support strong and sustainable growth. The growth is anticipated as GST would enhance production and lead to uninterrupted movement of goods and services across the Indian territory. The IMF pointed out that India is the fastest growing emerging economy and currently represents the strongest-growth in the world. According to current projections, India grew by 6.8% during FY2016-17, and is anticipated to grow 7.2% during FY 2017-18. Besides GST, domestic factors such as stronger rupee, fiscal and monetary policies, focus on a digital payment structure and the growth of the stock ...
India can replace China as driver of global growth: FM
Source: PTI Seeing an opportunity in the recent turmoil in global equity and currency markets, Finance Minister Arun Jaitley on Thursday said India, with 8-9% growth rate, can replace China as the driver of world economy. The country has already laid down a "red carpet" for businesses which want to invest here, he said, committing to push ahead with the government's reforms agenda. “The world needs other engines to carry the growth process. And in a slowdown environment in the world, an economy which can grow at 8-9%, like India, certainly has viable shoulders to provide the support to the global economy," he said. In an interview to BBC, Jaitley said India is an investor-friendly destination and investors need not fear ...
