Gradual economic recovery to be led by consumption demand
The Dollar Business Bureau The gross domestic product (GDP) for the financial year (FY) 2016, will grow by 7.7% (FY15: 7.4%), driven by a further pick up in private consumption demand. Consumption demand is expected to expand 8.1% in FY16 (FY15: 7.1% and FY14: 6.2%), said a rating agency. A significant moderation in inflation and inflationary expectations is likely to boost consumer sentiments, albeit gradually. The share of private consumption demand in GDP is around 60%. Even investment and government expenditure would provide adequate support to consumption-led GDP growth, said a report by India Ratings and Research (Ind-Ra). There are conflicting views with respect to the monsoon in 2015 as Indian Meteorological Department is predicting less-than-normal monsoon and private ...
Centre to roll-out modified National Agricultural Insurance Scheme
The Dollar Business Bureau To address the problems faced by the farmers, the Government of India is piloting a modified National Agricultural Insurance Scheme (NAIS), a market-based scheme with involvement from the private sector. The latest move by the Government comes in the wake of a report submitted by ASSOCHAM-Skymet Weather joint study which, said that less than 20% of farmers in India are insured, exposing a vast majority of the farming community to the vagaries of weather which lead them to taking desperate steps, as is being seen after a vast damage to the Rabi crop this year. At the all-India level, only 19% of farmer reported ever having insured their crops. A very large proportion of 81% ...
