APRIL

ECONOMY

Ø  India to Grow At 7.4% in 2018: IMF

Ø  The International Monetary Fund (IMF) in its latest World Economic Outlook (WEO) has projected India to grow at 7.4% in 2018 and 7.8% in 2019. It also held that India will again emerge as world’s fastest-growing major economy at least for the next two years (2019 and 2020).

Ø  World Bank Projects India’s Growth Rate At 7.3% For 2018-19

Ø  The World Bank has projected a growth rate of 7.3% for India this year and 7.5% for 2019 and 2020. The bank also noted that Indian economy has recovered from the effects of demonetisation and the Goods and Services Tax.

Ø  CII Pegs India’s GDP growth at 7.3-7.7% for 2018-19

Ø  The Confederation of Indian Industry (CII) has announced that it expects India’s gross domestic product (GDP) to grow at 7.3-7.7% during the 2018-19 financial year.

Ø  Industrial production grows 7.1% in February 2018: CSO

Ø  According to data released by the Central Statistics Office (CSO), factory output measured in terms of the Index of Industrial Production (IIP) had grown 7.1% in February 2017. The IIP recorded growth of 8.54% in November 2017, 7.1% in December 2017 and 7.4% in January 2018. During April-February period, IIP has slowed to 4.3% from 4.7% compared to same period 2017-18 fiscal.

Ø  India top recipient of Commonwealth FDI: Report

Ø  India has emerged as the top recipient of foreign direct investment (FDI) from within the Commonwealth and is the second-most lucrative source of investment within the 53-member organisation after the UK, according to a new trade review.

Ø  India’s economy to grow 7.3% in 2018-19 and 7.6% in 2019-20: ADB

Ø  The Asian Development Bank (ADB) has projected that India’s economic growth is set to rise to 7.3% this fiscal and further to 7.6% in the next financial year, on back of GST and banking reforms. According to the Asian Development Outlook (ADO), 2018, Indian economy grew 6.6% in the last fiscal and it would remain the fastest-growing country across Asia.

Ø  RBI switches back to GDP model from GVA model to measure economy

Ø  The Reserve Bank of India switched back to gross domestic product (GDP) model from the gross value added (GVA) methodology to provide its estimate of economic activity in the country. It switch to GDP is mainly to conform to international standards and global best practices.