Search Result for : Gdp

The Dollar Business Bureau Citing the importance of efficient logistics for facilitating trade, Minister of Commerce and Industry and Civil Aviation Suresh Prabhu on Thursday said that 56 new airports in India would be functional in the coming few years. “Efficient logistics is critical for countries like India to harness trade and facilitate greater and faster integration with both the domestic as well as the world economy,” the Minister said while speaking at the two-day Global Logistics Summit, jointly organised by Ministry of Commerce, FICCI and World Bank Group. Keeping this in mind, 56 new airports will become functional in the next few years which will enhance connectivity in the country,” he added. While urging all the stakeholders to churn new ideas for enhancing India’s logistics efficiency, Prabhu said, “There ...

The Dollar Business Bureau After remaining positive for the eight consecutive months, manufacturing sector activity in India declined in March to a low of five months, as the fresh business orders grew at a slower pace, and companies showed reluctance for recruitment, according to a private survey.                                                                                                                                                                                       The Nikkei India Manufacturing Purchasing Managers Index (PMI) declined to a five-month low of 51 in March from 52.1 in February. “This indicated the slowest improvement in operating conditions recorded by the survey since last October,” Nikkei said in a statement.  This is consecutively for the eighth months that the PMI remained above the mark of 50-point. In PMI parlance, a reading above the 50 point mark means growth, while below that mark shows a contraction.  Commenting on ...

The Dollar Business Bureau India’s exports would be impacted if the current tariff war escalates into a full-fledged trade war, apex trade body ASSOCHAM said, adding that there would be severe damage to the Indian economy too. “If the tariff war escalates into a full-scale global trade war, it would have a collateral damage for the Indian economy as well, with the country's exports taking a hit, current account deficit facing pressure and the GDP taking a setback,” the trade body said in a statement on Sunday. The Chamber further said that the move of the US administration to levy tariffs could lead to a further retaliation against the US but it may not have a direct impact on India. “Instead of de-escalating, the ...

The Dollar Business Bureau International credit rating agency Moody’s Investors Service said on Monday that India’s Union Budget 2018-19 had struck a balance between growth and fiscal prudence. And a little slippage in the target of fiscal deficit would not have material effect on the overall fiscal strength of the country. In the Budget, presented on February 1 by Finance Minister Arun Jaitley, the Government has revised its fiscal deficit target for 2018-19 to 3.3% of gross domestic product (GDP) from the previous estimates of 3%. The estimate for 2017-18 has also been revised to 3.5% of GDP, from the original projections of 3.2%. “The revised fiscal consolidation path is modestly shallower than the previous road map, but it does not fundamentally alter India's overall fiscal strength,” said ...

The Dollar Business Bureau Guided by mission to strengthen agriculture, employment, rural development, health, education, MSMEs and infrastructure sectors, Finance Minister Arun Jaitley presented the Union Budget 2018-19 in Parliament on Thursday. Reiterating the pledge given by the Government to the people of the country four years ago to give an honest, clean and transparent Government, Jaitley said that the Government under Prime Minister Narendra Modi has successfully implemented a series of fundamental structural reforms to propel India among the fastest growing economies of the world. Jaitley said that India’s agri-exports potential is as high as $100 billion against current exports of $30 billion and to realise this potential, export of agri-commodities will be liberalised. While presenting the Budget, he said, “Indian society, polity ...

The Dollar Business Bureau India’s gross domestic product (GDP) is estimated to grow at 7%-7.5% in the 2018-19 fiscal, with exports set to rebound, according to the Economic Survey tabled in parliament by Finance Minister Arun Jaitley on Monday. “A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75% this fiscal and will rise to 7 to 7.5% in 2018-19, thereby re-instating India as the world’s fastest growing major economy,” the Survey stated. The reform measures undertaken in 2017-18 can be strengthened further in 2018-19, it added. The Survey highlighted that due to the implementation of Goods and Services Tax (GST), resolution of the long-festering Twin Balance Sheet (TBS) problem by sending the major stressed companies ...

The Dollar Business Bureau International organisation International Monetary Fund (IMF) on Monday projected India’s gross domestic product (GDP) growth at 7.4% in the financial year 2018-19, making India being the ‘fastest-growing’ economy among the emerging economies. “India is forecast to grow at 7.4% in 2018-19 against 6.7% this year, gaining pace to 7.8% in 2019-20,” the IMF said in its report World Economic Outlook: Brighter Prospects, Optimistic Markets, Challenges Ahead.  China’s economy growth rate at 6.8% in 2017 was higher than India’s 6.7% but the former’s growth will slip to 6.6% next year. In 2016, India’s economy grew at 7.1% but slowed in 2017 due to demonetisation and rollout of GST. The IMF kept the aggregate growth projections unchanged for emerging markets and developing ...

The Dollar Business Bureau Finance Minister Arun Jaitley said on Thursday that the positive effect of the economic measures that has been taken by the current government would be visible in the medium to long-term. Jaitley said that in spite of slowdown globally and the previous government leaving the country among the ‘Fragile Five’ nations of the world in 2014, the current government, under Prime Minister Narendra Modi, not only undertook huge structural reforms but it also made the country a fastest-growing economy, consecutively for three years.  “Some of the structural reforms undertaken by the government were attempted by the previous dispensation too, but it failed to do so because of several reasons,” the Minister said in the Rajya Sabha while replying to ...