ECONOMY:
Ø India will become 5 Trillion dollar
Economy
Addressing the diaspora in Athens, President Ram Nath Kovind reported that India is striving to become a $5 trillion economy and the world’s third largest consumer market by 2025.
Addressing the diaspora in Athens, President Ram Nath Kovind reported that India is striving to become a $5 trillion economy and the world’s third largest consumer market by 2025.
Ø Majority of Indians in Lowest Wealth
Group: BCG
A new report shows that 55% of the total wealth in the country is with those having less than $1,00,000 net worth. In contrast, only 18% of the global wealth is with those in this category. The Boston Consulting Group’s (BCG’s) Global Wealth Report 2018 also shows that those with more than $1 billion in personal wealth, have cornered 16% of total wealth in India.
A new report shows that 55% of the total wealth in the country is with those having less than $1,00,000 net worth. In contrast, only 18% of the global wealth is with those in this category. The Boston Consulting Group’s (BCG’s) Global Wealth Report 2018 also shows that those with more than $1 billion in personal wealth, have cornered 16% of total wealth in India.
Ø Fitch predicts India’s growth
forecast to 7.4% for FY’19 & 7.5% for FY’20
The Indian GDP has been predicted to grow by 7.4% in FY19 by Fitch. It has earlier predicted GDP growth by 7.3% for FY 2018-19 and for FY20 it is 7.5%.
The Indian GDP has been predicted to grow by 7.4% in FY19 by Fitch. It has earlier predicted GDP growth by 7.3% for FY 2018-19 and for FY20 it is 7.5%.
Ø Industry expects close to 8% GDP
growth over next two years: CII
According to a report by Confederation of Indian Industries (CII) a growth close to 8% GDP in next 2 years is expected. Rs 50,000 crore worth of investments have been made. Fiscal prudence, able macroeconomic management, and strong reforms would be the reasons for the growth.
According to a report by Confederation of Indian Industries (CII) a growth close to 8% GDP in next 2 years is expected. Rs 50,000 crore worth of investments have been made. Fiscal prudence, able macroeconomic management, and strong reforms would be the reasons for the growth.
Ø World Bank forecasts 7.3 per cent
growth for India
The World Bank has forecast a growth rate of 7.3 per cent for India this year and 7.5 per cent for the next two years, making it the fastest growing country among major emerging economies.
The World Bank has forecast a growth rate of 7.3 per cent for India this year and 7.5 per cent for the next two years, making it the fastest growing country among major emerging economies.
Ø FDI Inflows to India Fall by $4
Billion last year: UN report
Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016 while outflows from India, the main source of investment in South Asia, more than doubled, according to a new trade report by the UN.
Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016 while outflows from India, the main source of investment in South Asia, more than doubled, according to a new trade report by the UN.
Ø Government meets fiscal deficit
target
Government has met its fiscal deficit target for 2017-18 at 3.53% of the Gross Domestic Product. Government in the Budget had revised the fiscal deficit target for 2017-18 to 3.5% from the earlier estimate of 3.2%.
Government has met its fiscal deficit target for 2017-18 at 3.53% of the Gross Domestic Product. Government in the Budget had revised the fiscal deficit target for 2017-18 to 3.5% from the earlier estimate of 3.2%.
Ø Indian Economy grows 7.7% in 4th
quarter: Central Statistics Data
The Indian economy grew 7.7% in the fourth quarter of 2017-18. The GDP had expanded 5.6%, 6.3% and 7%, in the first three quarters of 2017-18, according to the data released by Central Statistics Office.
The Indian economy grew 7.7% in the fourth quarter of 2017-18. The GDP had expanded 5.6%, 6.3% and 7%, in the first three quarters of 2017-18, according to the data released by Central Statistics Office.
Ø Moody’s slashes India Growth
Forecast to 7.3%
According to Moody’s Investors Service report India’s GDP forecast has gone down to 7.3% from 7.5% for 2018. This cut if because of higher oil prices. The forecast for 2019 is constant at 7.5%.
According to Moody’s Investors Service report India’s GDP forecast has gone down to 7.3% from 7.5% for 2018. This cut if because of higher oil prices. The forecast for 2019 is constant at 7.5%.
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