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As per Assocham, the Indian economy may reach 7% in 2018

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As per Assocham, the Indian economy may reach 7% in 2018.
As per Assocham, the Indian economy may reach 7% in 2018. IANS
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  • Because of demonitisation, the economy may reach 7% in 2018: Assocham
  • Inflation may range between 4-5.5 per cent towards the second half of the next calendar year
  • Assocham expects the forthcoming Union Budget to be “heavily tilted” towards the farmers

New Delhi, Dec 24, 2017: With government policies set to tilt more towards the “stress-ridden rural landscape” next year in the run-up to the 2019 Lok Sabha elections, the Indian economy may reach a 7 per cent growth in 2018 while recovering from the lingering effects of demonetisation and GST, industry chamber Assocham said on Sunday.

“After ‘disruptions’ from the lingering effects of demonetisation and GST roll-out, the Indian economy may reach a 7 per cent growth in 2018 with government policies tilting towards the stress-ridden rural landscape in the penultimate year before the Lok Sabha elections,” according to the industry body’s “Year-Ahead Outlook”.

“Against GDP growth of 6.3 per cent in the second quarter of 2017-18, the economic expansion may reach the crucial 7 per cent mark by the end of September 2018 quarter, while inflation may range between 4-5.5 per cent towards the second half of the next calendar year with the monsoon being a key imponderable,” it said.

Assocham President Sandeep Jajodia said the projections were based on the assumption of stability in government policies, good monsoons, pick-up in industrial activity and credit growth as also stability in the foreign exchange rates.

“The worries on account of crude oil shooting up are likely to abate, if there are no fresh geo-political shockers.”

According to the Assocham outlook, while the underlying bullish sentiment should continue to prevail in the Indian stock market in 2018, the returns on equity may not be as robust as in 2017.

“This is because the 2017 bull run has already factored in the return of growth steadiness in 2018 and the corporate earnings witnessing a pick-up,” it said.

The industry lobby said in the run-up to state assembly elections in several politically important states, the political economy is set to tilt towards the farm sector “which has been witnessing some stress”.

“The stress in the agriculture sector is traceable to lack of reforms in the rural economy. Despite political promises, several of the states have not been able to reform the APMC Act, which restricts farmers to sell their produce to a particular set of cartels.”

Assocham expects the forthcoming Union Budget to be “heavily tilted” towards the farmers while the industrial focus would be on sectors which create jobs.

“A realisation seems to be dawning that growth per se is not enough, the benefits must be seen in the form of higher employment. The year 2018 would see policies in this direction”, the statement added. (IANS)

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Earth Day 2018: Focusing on Ending Plastic Pollution

Earth Day 2018 focuses on Plastic pollution

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A demonstrator holds a placard as she participates in the March for Science rally on Earth Day in Mexico City, Mexico April 22, 2017. The placard reads:
FILE - A demonstrator holds a placard as she participates in the March for Science rally on Earth Day in Mexico City, Mexico April 22, 2017. The placard reads: "A country without science, research and education is a country dependent." Earth Day 2018, which is Sunday, will focus on plastics pollution. (VOA)

Each year on April 22, many people stop to think about the health of the world environment, as as if it were a New Year’s Day for nature, many make resolutions to treat the world around them more responsibly.

The day first celebrated in 1970 is approaching a half-century of existence with a movement that started in the United States and spread around the world. People celebrate the day with environmental action such as natural area cleanups, public demonstrations, tree plantings and, in 2016, the signing of the international Paris climate agreement, which aims to keep climate change in check.

The theme for 2018 is plastic pollution. Experts say a large mass of discarded plastic that has gathered in the Pacific Ocean, known as the Great Pacific Garbage Patch, has grown to more than 600,000 square miles — more than 155 million hectares (600,000 square miles), or twice the size of the U.S. state of Texas.

FILE - In this photo provided by the U.S. Fish and Wildlife Service, a black-footed albatross chick with plastics in its stomach lies dead on Midway Atoll in the Northwestern Hawaiian Islands, Nov. 2, 2014. Midway sits amid a collection of man-made debris called the Great Pacific Garbage Patch. Along the paths of Midway, there are piles of feathers with rings of plastic in the middle — remnants of birds that died with the plastic in their guts. Each year the agency removes about 20 tons of plastic and debris that washes ashore from surrounding waters.
FILE – In this photo provided by the U.S. Fish and Wildlife Service, a black-footed albatross chick with plastics in its stomach lies dead on Midway Atoll in the Northwestern Hawaiian Islands, Nov. 2, 2014. Midway sits amid a collection of man-made debris called the Great Pacific Garbage Patch. Along the paths of Midway, there are piles of feathers with rings of plastic in the middle — remnants of birds that died with the plastic in their guts. Each year the agency removes about 20 tons of plastic and debris that washes ashore from surrounding waters. (VOA)

The patch developed in less than 100 years, as plastics have been in common use only since the 1950s. It is one of several masses of refuse found in the world’s oceans, brought together by weather patterns and water currents. Experts say many types of plastic that do not biodegrade can remain in the environment for up to 2,000 years.

Also Read: ‘Skip The Straw’: A Call For Earth Day

This year’s Earth Day focuses on getting rid of single-use plastics, promoting the using of alternative materials, recycling and developing more responsible behaviors concerning the use of plastics.

The environmental group behind Earth Day, the Earth Day Network, estimates that 1 billion people around the world recognize Earth Day in some way.  VOA

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