The government has so far borrowed Rs 4.46 lakh crore of the budgeted Rs 5.8 lakh crore for the fiscal year 2018 leaving close to Rs 1.34 lakh crore of borrowings over the next four-and-a-half months.
The rise was led in part by an unfavourable base effect, a surge in inflation for vegetables and a rise in price levels for eggs and milk
The report also said that falling dependency ratios, financial maturity and increasing incomes and affordability would be the key drivers that would lead to the country’s growth.
The move to raise spending and bolster growth is welcome. But private investment must pick up for economy to turnaround
As per IMF data, while the US & Japan are expected to grow 50 bps higher in 2017 than the growth seen last year and China likely to grow at 6.8% against 6.7% a year ago, India may witness a slower growth rate of 6.7% in FY18 over the previous year’s 7.1%
The initial size of the Fund, set up two years ago, is being expected to close at $2.1 billion, with the government keeping a green shoe option to raise it up to $2.8 billion.
Data sets read together suggest demonetisation broke domestic supply chains, and disruption caused by GST compounded problems; meanwhile, with remonetisation, demand rose, and was met by imports.
The International Monetary Fund (IMF) on Tuesday also cut its growth forecast for the Indian economy by half a percentage point to 6.7 per cent for 2017-18.
The building of infrastructure, high levels of infrastructure spending can be a major drive, which I think is less vulnerable to short-term automation than manufacturing, said Turner.
Bibek Debroy said the Council will work in consultation with various stakeholders, including sectoral ministries, states, experts, institutions, regulators and the private sector.
Amount outstanding in PPIs should not exceed Rs 1 lakh; PPIs to be KYC compliant.
Yashwant Sinha criticised the present government’s economic management. Surjit Bhalla responded with ‘facts’. His ‘facts’ demand a response from another economist.
The country’s GDP growth rate was pegged at 5.7 per cent for the quarter ended June 30.
The actual base rate worked out by one major private sector bank in March 2017 was almost 80 bps higher than suggested by the base rate formula.
The last GST Council meeting saw some far-reaching measures focused largely on SMEs and exporters.