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Big reforms Led to India becoming the fastest growing major Economy globally: Garg

It also has enormous implications for emerging markets and developing countries

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The RBI building in Mumbai.
The RBI building in Mumbai. Photo credit: AFP/Sajjad Hussain
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The major reforms undertaken by the Indian government for raising economic growth and maintaining macroeconomic stability have made the country one of the fastest growing major economies in the world, said Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA).

Garg was addressing the Special Event hosted by US-India Strategic Partnership Forum on ‘Indian Economy: Prospect and Challenges’ in Washington D.C on Friday.

Indian economy needs more reforms.
Indian economy needs more reforms.

He said the launch of the Goods and Services Tax (GST) represented an “historic economic and political achievement, unprecedented in Indian tax and economic reforms, which has rekindled optimism on structural reforms.” He further emphasized that India carried-out such major reforms when the global economy was slow.

“With the cyclical recovery in global growth amid supportive monetary conditions and the transient impact of the major structural reforms over, India will continue to perform robustly,” Garg said.

During his meetings, Garg highlighted that the digital age technologies have profound implications for policies concerning every aspects of the economy. It also has enormous implications for emerging markets and developing countries.

Also Read: Biggest Bank Frauds Which Shook The Indian Economy

He expressed that the response to such a transformation will have to shift from ‘catch up’ growth to adoption/adaption of digital technologies for development and growth.

Garg also informed that India has started adopting policies and programmes for transforming systems of delivery of services using digital technologies and connecting every Indian with digital technologies and access through Aadhaar and other such means.

Indian economy should be on rise.
Indian economy should be on rise. Image: Mapsofindia

While citing the example of expanding mobile data access, he mentioned that India is now the largest consumer of mobile data in the world with 11 gigabytes mobile data consumption per month. He informed that India is investing in digital technologies, encouraging private sector to adapt these technologies and also addressing the taxation related issues by introducing equalisation levy.

Garg is currently on an official tour to Washington D.C. to attend the Spring Meetings of the International Monetary Fund and the World Bank and other associated meetings. He is accompanied by Urjit Patel, Governor, Reserve Bank of India and other senior officials. IANS

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Survey Shows That More Women Support Live-in Relationships in India

For long the concept and topic of live-in relationships has been taboo in India but the times are changing with a number of women coming out in its support, according to a survey.

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Hindu marriage. Pixabay

For long the concept and topic of live-in relationships has been taboo in India but the times are changing with a number of women coming out in its support, according to a survey.

Inshorts, a news app, conducted a poll in the second week of May capturing the views of 1.4 lakh netizens — 80 per cent being in the age group of 18-35 years, read a statement.

Women
representational image. pixabay

According to the survey, more than 80 per cent millennials think that live-in relationships are still considered a taboo in Indian society while more than 47 per cent Indians are of the opinion that marriage is better when choosing between marriage and lifelong live-ins.

More than 80 per cent Indians said that they do support live-ins as a way of life. Out of these, 26 per cent millennials went a step ahead and said that they would choose lifelong live-ins as an option over marriages.

On the other hand, 86 per cent Indians are of the opinion that lust is not the sole reason behind live-ins and more than 45 per cent say that it is more of compatibility testing before marriage.

Night-owl women not for long-term relationships: Study
Couple. pixabay

In the report, 45 per cent respondents have also said that since Indian society constantly judges unmarried couples staying together, any move by the judiciary to support this will not have any effect on their mindset.

Also Read: Night-owl women not for long-term relationships: Study

Azhar Iqubal, CEO and Co-founder, Inshorts said: “Live-in relationships, even after being legally recognised by the government, is a forbidden subject of discussion in Indian households. Our current survey was focused on capturing the sentiments of our Indian youth on such delicate issues.” (IANS)

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