India may be 3rd largest economy by 2030, beat China later to be world No. 1: Study
Economic Survey 2016: The spokesperson had earlier said: "CEA may brief the participants about the economic situation both global and domestic and may also brief about the economic analysis of micro and macro-economic situation made in the Economic Survey 2015-16 and the likely state of economy in the coming year and the steps to deal with the same".
1. Indian economy GDP forecast study by CEBR: India is finally starting to catch up with China and will eventually overtake the Communist-giant in the second half of the century to be world No. 1 economy.
7. Ratan Tata: In India there was no venture capital community earlier like in the US and its presence now in the country is a good development.
3. Indian economy GDP forecast study by CEBR: India’s projected GDP in 2030 was seen at $10,133 billion, behind America’s $32,996 billion and China at the top with a projected GDP of $34,338 billion.
Budget 2016: Contrary to advice from Narendra Modi’s top economic adviser, Arvind Panagariya, that the government should avoid 'tinkering' with the fiscal deficit, analysts expect the shortfall to be revised up from the trajectory set a year ago. The consensus view was for the 2016-17 fiscal deficit to be raised to 3.7 per cent of gross domestic product (GDP) from a previous goal of 3.5 per cent. Gross borrowing is predicted at Rs. 6.49 lakh crore ($95.2 billion).
5. Budget 2016: Keeping great expectations grounded in reality - While expectations are a-plenty from all sections of the society be it the common man or the industrialist, it is true that the Indian economy is currently in a deflationary phase with earnings stagnating and exports declining. The largest challenge for the government now is to keep the fiscal deficit to 3.9% of the GDP. In the face of such challenges, it wont be surprising if Budget 2016-17, does not turn out to be a populist one. However, overall, the common man expects that he be allowed to live well and provide for his family in the face of rising costs and save for his future.
The report estimates GDP growth for the second half and for the full year at 6.3 per cent and 6.7 per cent, respectively with a downward bias.
5. Narendra Modi: We have already disbursed over Rs 1 lakh crore under Mudra scheme (micro-finance initiative under which loans are provided to SMEs without bank guarantee) and over two crore families have been benefitted from it.
2. 2016 Index of Economic Freedom: Though still rated as "mostly unfree", India with a score of 56.2 out of 100 was among 32 countries which achieved their highest economic freedom scores ever in the 2016 Index. (Reuters)
Budget 2016: The report, written by economic adviser Arvind Subramanian, said that "credibility and optimality" argued in favour of sticking to next year's deficit target of 3.5 percent of GDP - phrasing that left room for an upward revision. "The time is right for a review of the medium-term fiscal framework," the text, handed out in parliament, said. Analysts said Subramanian was flagging some backsliding on the deficit - if not next year then the year after - to account for an economy that is doing less well than the headline figures suggest.
10. Indian economy GDP forecast study by CEBR: Europe’s largest economy, Germany, will maintain its position in the world’s leading economies as its declining population receives a welcome boost of a 1.5 million refugees and migrants, according to the analysis.
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