Search Result for : Gross Domestic Product Gdp

The Dollar Business Bureau India’s current account deficit (CAD) in the second quarter of this fiscal increased two-fold to $7.2 billion or 1.2% of gross domestic product (GDP) on year-on-year basis, due to higher increase in merchandise imports, mainly oil, according to the Reserve Bank of India (RBI). However, it is narrowed steeply from $15 billion or 2.5% of GDP compared to the preceding quarter of 2017-18. “India’s CAD at $7.2 billion (1.2% of GDP) in Q2 of 2017-18 narrowed sharply from $15 billion (2.5% of GDP) in the preceding quarter, but was substantially higher than $3.4 billion (0.6% of GDP) in Q2 of 2016-17,” the RBI said on Wednesday. “The widening of the CAD on a year-on-year basis was primarily on account of ...

The Dollar Business Bureau The government think-tank, Niti Aayog in its recent three-year action agenda draft has suggested that the government should reduce the import duty on gold. It should be recalled that since January 2012, the government had increased the duty through a series of measures to discourage the imports of the yellow metal and keep a check on the rising current account deficit (CAD) which was 4.8% of GDP in 2012-13. It was the decision of the then finance minister P Chidambaram to keep the CAD at 3.7% of the GDP. Subsequently, as part of its efforts, the government then had increased the customs duty on platinum and gold to 10%  which was again increased to 15% in September ...

PTI  Finance Minister Arun Jaitley and his ministry officials on Wednesday presented to the Council of Ministers a blueprint for launch of the path-breaking GST from July 1 to transform the Indian economy. Revenue Secretary Hasmukh Adhia made a detailed presentation to the Council -- the supreme executive organ headed by Prime Minister Narendra Modi -- on how the Goods and Services Tax (GST) will be implemented and the challenges before it is rolled out. The biggest tax reform since Independence, GST has been in the works for more than a decade. It will transform the $2 trillion economy and market of 1.3 billion people into a single economic zone with a single national sales tax. GST will subsume central taxes ...

The Dollar Business Bureau  China on Sunday cut its growth target to 6.5% this year - a 25-year low - as the country drives through some painful reforms in order to address its debt concerns and seeks to control risks in the financial sector.  China is aiming to expand the economy by about 6.5% in 2017, said Premier Li Keqiang, while speaking at the opening of yearly meeting of the Parliament. The world’s second largest economy had targeted growth of 6.5-7% last year but finally achieved 6.7%, which was the slowest in the past 26 years.  A lending spree and raised government spending have led to worries among the top leadership of the country about increased debt levels and the overheating housing sector.  This year’s ...

PTI With the message of being a "very friendly" investment destination, India today sought to woo foreign investors at the WEF annual meet where leaders pored over the benefits of globalisation amid concerns over the impact of automation on jobs worldwide.The issue of slow pace of bridging the gender gap also figured prominently in discussions, with IMF chief Christine Lagarde referring to an example from India about how women are using mobiles to report harassment by their mothers-in-law.India, one of the fastest growing major economies, was represented here by a delegation of over 100 individuals, including ministers, government officials and business leaders. The country is striving to showcase itself as a bright spot in an uncertain global economic situation.While Union Minister Nitin ...

The Dollar Business Bureau Transport Corporation of India (TCI), India’s leading multimodal integrated logistics and supply chain solutions provider, won the prestigious “Overall Excellence in Logistics and Supply Chain” award at the3rd edition of Supply Chain and Logistics Excellence (SCALE) Awards organised by CII on December 16, at New Delhi. The award was given to TCI for managing the size of its fleet, size and reach of network and use of technology for management, track and trace with customer service at the core. While accepting the award, Rajkiran Kanagala, Group Head-Business Development, TCI Group said, “TCI Group has 9000 trucks on the road on any given day, including 1400 of its own. Together, we move 2.5% of India’s GDP by value. It is ...

The Dollar Business Bureau The government on Thursday admitted that a lot needed to be done to keep India on a targeted growth rate of 8% over the next few years. "We need to work harder with states to remove all regulatory hurdles still prevailing at the lower level," Commerce Minister Nirmala Sitharaman said at the 32nd edition of the India Economic Summit on Thursday. Last month, India registered a 16 point jump in the world competitiveness index. Sitharaman said we need to ensure that whatever foreign investment the country receives should be into rapid output, exports, which will lead to creation of jobs, thereby ensuring a multifarious growth of the country. NITI Aayog CEO Amitabh Kant, who was also ...

Source: PTI The IMF slightly trimmed India's growth projections to 7.4 per cent for 2016 and 2017, a drop of 0.1 per cent from its previous forecast, attributing it to a more sluggish investment recovery while declaring Brexit as a "spanner" in the global economic recovery. The global lending agency also said that Brexit has resulted in global economic uncertainty. "The outcome of the UK vote, which surprised global financial markets, implies the materialisation of an important downside risk for the world economy. As a result, the global outlook for 2016-17 has worsened, despite the better-than- expected performance in early 2016," the IMF said in its latest update if the World Economic Outlook. Updating its growth projection from the one ...