Himachal's growth rate likely to be 6.8 pc in 2016-17: Survey
PTI The growth rate of Himachal Pradesh is expected to be 6.8 per cent and per capita income likely to rise to Rs 1.47 lakh during 2016-17, as per the Economic Survey of the state. "The Gross State Domestic Product (GSDP) is expected to increase from Rs 1,13,667 crore in 2015-16 to Rs 1,24,570 crore in 2016-17, while the growth rate under the 12th Plan (2012-17) has been estimated at 7.2 per cent," said the Economic Survey for the current financial year, presented by Chief Minister Virbhadra Singh in the Assembly today. The food grains production which was 16.34 lakh tonnes in 2015-16 is likely to slip to 16 lakh tonnes while the Horticultural production would be about 5.10 lakh tonnes ...
Despite fall, GDP will bounce back sharply: RBI Governor
PTI Reserve Bank of India (RBI) Governor Urjit Patel on Friday said India's economic growth will make a "sharp V" recovery following the recall of old Rs.500 and 1,000 currency notes. Patel also made a strong case for continuing with globalisation even in the face of a potential shift to trade protectionism under US President Donald Trump as India has benefited from open trade. "Almost everyone agrees that the impact is going to be a sharp 'V', that we would have a downgrade of growth for a short period of time," he told CNBC-TV18 in an interview. "However, the remonetisation has happened at a fast pace and that was part of the plan." RBI last week lowered the economic growth for ...
Indias growth to face domestic challenges in next two years
The Dollar Business Bureau Economic growth rate of India in the next two years is likely to face challenges by dreary global demand and major leverage in certain corporate sectors, said Moody’s, a credit rating agency. Presently, Moody’s with ‘Baa3’ rating has a positive outlook for the country. However, the high leverage of corporates and credit demand will impact the growth in negative ways. Meanwhile, the impaired assets in banking system may negatively impact on credit supply, said Moody’s senior vice-president and manager, Marie Dion. In FY16, despite domestic hurdles, India’s GDP climbed to 7.6% from 7.2% logged in FY15. On the back of good monsoons with a push on consumption due to the recent 7th Pay Commission, the economy is expected to grow by 8% ...
Indias growth rate expected to be near 7.5%: OECD
The Dollar Business Bureau OECD’s Global Economic Outlook release says India’s growth rate is expected to hover near 7.4% this year and 7.5% next year. The outlook was launched during the OECD’s annual Ministerial Council Meeting and Forum in Paris on Wednesday. India is likely to remain as one of the fast growing economies in the world. Its private consumption in urban areas has been buoyed by the projections of higher income source and declining inflation. But the demand in rural areas has come down for the past two years due to bad weather conditions, the outlook said. The decline in merchandise imports, driven by subdued commodity prices and weak business investment, has contributed to keeping the current account deficit at about 1.5% ...
Credit growth may not revive in near future: SBI
The Dollar Business Bureau India’s credit growth is unlikely to recover materially in near future because of the prevailing demand conditions which are acting like a laggard, said a report released by State Bank of India (SBI). This was revealed by the bank’s Composite Index which released for the month of May. The Composite Index by the bank mirrors the credit demand in the country and other data available for the public. SBI Composite Index that tracks the country’s manufacturing sector have two growth constituents - month-on-month as well as year-on-year scaling from zero to 100. Index value of 42-46 represents moderate decline, 46-50 shows low decline, 50-52 means low growth, 52-55 says there is moderate growth and over 55 proves high ...
Emerging markets to lead aircraft demand in the next 20 years
The Dollar Business Bureau Another 20 years, the aircraft industry is going to see it boom in India and other emerging markets. The domestic traffic would help generate an aircraft demand worth $5 trillion and the fleet across the aircraft industry is expected to double by 2034, said Airbus. The traffic outflow in India alone is estimated to be six times more during this period thus giving it the credit of the fastest growing markets globally. Airbus has also identified Mumbai and Delhi airports among the most crowded ones across the world. It is also pointed out that in the next 20 years, global passenger traffic will fatten at an average of 4.6% a year, hammering a need for some 32,600 ...
