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Indian economic growth much weaker than expected: IMF

The International Monetary Fund (IMF) in July projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, saying its GDP will now grow respectively at the rate of 7 and 7.2 per cent reflecting a weaker-than-expected outlook for domestic demand.

"The country today is in the midst of a dangerously protracted slowdown. And this is something which is not the statement being made only by the Congress party people but everywhere whether you talk to people in the industry, journalists -- the common theme is that the economy is going from bad to worse.

"The dangerous thing about the present situation is that the government is complacent enough to not realise that we are in the midst of a protracted economic slowdown," the former prime minister Manmohan Singh said.

Singh said Prime Minister Narendra Modi has been talking about achieving USD 5 trillion economy by 2024 but in the present situation it looks like a "piped dream".

He said the size of the economy was USD 2.7 trillion in the current financial year and to reach USD 5 trillion economy by 2024, the country needs a growth rate of 12 per cent by the nominal terms and 9 per cent in real terms.

"If the economy is going the way it has been going down quarter after quarter, then there is no hope that the prime minister''s promise of a USD 5 trillion economy becoming reality," Singh said.

www.indiatoday.in/india/story/indian-economic-g... Indian economic growth much weaker than expected IMFThe International Monetary Fund IMF in July projected a slower growth rate for India in 2019 and 2020 a downward revision of per cent for both the years saying its GDP will now grow respectively at the rate of 7 and per cent reflecting a weakerthanexpected outlook for domestic The country today is in the midst of a dangerously protracted And this is something which is not the statement being made only by the Congress party people but everywhere whether you talk to people in the industry journalists  the common theme is that the economy is going from bad to The dangerous thing about the present situation is that the government is complacent enough to not realise that we are in the midst of a protracted economic slowdown the former prime minister Manmohan Singh Singh said Prime Minister Narendra Modi has been talking about achieving USD 5 trillion economy by 2024 but in the present situation it looks like a piped He said the size of the economy was USD trillion in the current financial year and to reach USD 5 trillion economy by 2024 the country needs a growth rate of 12 per cent by the nominal terms and 9 per cent in real If the economy is going the way it has been going down quarter after quarter then there is no hope that the prime ministers promise of a USD 5 trillion economy becoming reality Singh

2019-09-13 10:41:41 by geethaa

India economic slowdown

August auto sales drop in per cent :

- Maruti Suzuki 33%
- Hyundai 9.54%
- Honda 51%
- Tata Motors 58%
- Toyota 21%
- Eicher-Volvo 41.7%
- Mahindra & Mahindra 25%
- Mahindra Tractors 17%.

#india #auto #economy.

2019-09-02 13:58:46 by Rajesh Kumar
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Living Paycheck to Paycheck.. Living Paycheck to

2018-04-07 11:04:01 by devarajn
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India Growing At "New Normal" Growth Rate Of 7-8%, Says Arun Jaitley newsreporter.in

India Growing At New Normal Growth Rate Of 78 Says Arun Jaitley

Finance Minister Arun Jaitley today exuded confidence that the upward movement of the global economy will also help India which has been growing at the "new normal" growth rate of 7-8 per cent.

Replying to a debate on the second batch of supplementary demands of grants in the Lok Sabha, he said the decision to bring petroleum products under the Goods and Services Tax (GST) will be taken by the GST Council.

2017-12-22 15:40:26 by William James

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2017-07-17 11:24:26 by SekarGV

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2017-07-17 11:23:36 by SekarGV

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2017-07-17 11:23:15 by SekarGV
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GST now set for July 1 roll-out; dual control hurdle finally over.. business-standard.com

GST now set for July 1 rollout dual control hurdle finally

The Goods and Services Tax (GST) Council on Monday broke a deadlock over issues of administrative control over assessees and broadly agreed to roll out the GST from July 1, instead of the earlier deadline of April 1..

2017-01-17 09:49:19 by Vaishnavi

GST Bill passed in Rajya Sabha: Here are the India Inc reactions.. indianexpress.com

GST Bill passed in Rajya Sabha Here are the India Inc

Here is what some of the business tycoons in the country think about the GST bill. By: Express Web Desk New Delhi Updated: Aug 4, 2016, 7:23. business. GST bill a 'game-changer' for India's economic growth: USIBC ยท GST Bill:..

2016-08-04 09:35:20 by Katrin Valentina
India Set To Retain Fastest Growing Economy Tag..

India Set To Retain Fastest Growing Economy Tag.. ndtv.com

New Delhi: India probably gathered momentum to hold its ranking as the world's fastest growing large economy in the quarter through March, giving Prime Minister Narendra Modi more to celebrate after completing two years in office last week. PM Modi...

2016-05-31 09:54:57 by Harini
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