Search Result for : Indias Economy

The Dollar Business Bureau Finance Minister Arun Jaitley said on Saturday that India’s economy is likely to grow at 7.7% in 2018. The emerging economies face new challenges like inward looking strategies of protectionism and enhanced geopolitical tension. Global growth is going upwards and is likely to increase further in the financial year 2017-18, Jaitley said while speaking at the 2nd yearly meeting of New Development Bank (NDB) in New Delhi.  “The Indian economy is expected to grow at 7.2% in 2017 and at the rate of 7.7% in 2018,” he said.  The Finance Minister said, “Emerging market economies face newer challenges in the form of inward looking policies of protectionism of some economies, global financial condition, ...

Sairaj Iyer Uday Kotak, Executive Vice Chairman and MD of Kotak Mahindra Bank, believes that the premise for rejuvenation of India’s economy (post demonetization) and the overall financial atmosphere is to replenish the confidence of the public in banks. Especially since we see receding confidence in recent times due to an uncertain global environment. But to do so there is a need to improve upon governance standards, specifically in PSU banks. At a talk show organised by the Indian Merchants Chamber, Kotak said that the PSU banking sector is an area that needs immediate attention. Referring to the rising NPAs, and infusion of tax-money into recapitalization of failing PSU banks, he said, “70% of bank accounts are with the PSUs, and I want ...

The Dollar Business Bureau  India is on the track to become a ‘pivot’ for high-technology world manufacturing even the growth in global manufacturing is likely to stay low in 2016 due to a decline in financial support for production activities, said a latest UN report.  “World manufacturing production is likely to surge by just 2.8 percent this year, said the quarterly report World Manufacturing Production, published by the United Nation Industrial Development Organisation (UNIDO).  However, compared to last few years, there will be no getaway from the trap of low-growth in 2016.  Asian economies witnessed much higher growth performance, where manufacturing output increased by 6.5 percent in the Q2 of the current year.  “India’s manufacturing output, which achieved impressive growth rates in the last quarters, experienced ...

India has clocked a 7.3% GDP growth rate so far during this financial year, and IMF has projected it to grow at 7.5% in the financial year 2016-17, making it the world’s fastest growing economy in 2016-17 The Dollar Business Bureau CRISIL revised outlook of five nationalised banks - Andhra Bank, BOB, Canara Bank, PNB and Punjab & Sind Bank - from ‘stable’ to ‘negative’   International Monetary Fund (IMF) on Thursday cautioned India of its current corporate financial position and public bank asset quality and said it could pose risk to the country’s economic recovery, even though the country is well placed among the world’s leading emerging markets. “Vulnerabilities in corporate financial positions and in public bank asset quality could ...

The Dollar Business Bureau India would overtake Britain to become the largest economy in the Commonwealth in 2019   A study report released by the UK-based Centre for Economics Business and Research (CEBR) has put the Indian economy in a bright spot, underlining that India, riding high on its rapid-pace economic growth, is likely to become the world’s third largest economy by 2030. The report asserted that India has made a bright start in 2015 with faster economic growth than China for the first time in recent years. However, the world’s ninth biggest economy has still a long way to go to overtake China – currently the world’s second largest economy, only behind the US. “India is now starting to catch ...

The Dollar Business Bureau The Minister of State for Power, Coal and New and Renewable Energy Piyush Goyal addressing at the Enrich 2015 - KPMG in India’s Annual Energy Conclave, in New Delhi on Monday.     India is expected to be self-sufficient in energy production by 2017 and will no longer have to import coal to meet its domestic requirement, except for the costal power plants, Coal and Energy Minister Piyush Goyal said on Monday. Speaking at the ENRich 2015, India’s annual energy conclave organised by KPMG, Goyal said, “By 2017, India should not need to import thermal coal except for the coastal power plants. Era of shortages is over in coal sector.” Goyal stressed that India’s economy will register a ...