Tuesday, January 19, 2021
Home Business India on path of becoming one of the world’s fastest growing economies:...

India on path of becoming one of the world’s fastest growing economies: IMF

_RUPEE_1317441f

By NewsGram Staff Writer

International Monetary Fund (IMF) in its latest economic health-checkup has declared that India’s growth rate is expected to rise to 7.5 per cent in 2015 and 2016, making it one of the fastest growing economies in the world.

IMF’s Regional Economic Outlook for Asia and the Pacific mentioned that China’s economy is decelerating to a more sustainable rate – 6.8 per cent GDP growth in 2015, and 6.3 per cent in 2016.

The report, which was released on Thursday, also stated that Asia and the Pacific will grow to surpass the rest of the world, and their growth is projected to remain stable at 5.6 per cent in 2015, slackening a little to 5.5 per cent in 2016.

It is also anticipated that growth will be driven by domestic demand, derived by healthy labor markets, low interest rates, and the latest dip in oil prices.

Asia’s exports will be supported by the global recovery, states the report.

The IMF’s Regional Economic Outlook reasons for a firm push for structural modification across most, if not all, economies in the region.

The report declares that chief reform areas include actions to tackle supply-tailbacks in India, state-owned enterprises, and financial liberalization in China.

“Measures should be taken to raise services productivity, and labor force involvement in Japan”, the report says.

IMF also noted that lower oil prices have given a chance to carry out further economic reforms intended to lower energy subsidies. The report said that the actions have been taken in a number of countries, including India, Indonesia and Malaysia.

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Holocaust Rememberance Day: Remembering The Modern-Day Genocide of Kashmiri Pandits

The Holocaust Remembrance Day highlights the efforts of the national community to respond to, said the Reconciliation, Return & Rehabilitation, a body of the...

Bharat Biotech Advises People Not To Take “Covaxin” in Case of Allergies, Fever, Bleeding Disorder

Bharat Biotech, makers of India's first indigenous vaccine for Covid-19, has advised people not to take 'Covaxin' if they have allergies, fever, bleeding disorder,...

Netaji’s Birthday To Be Celebrated As Parakran Diwas From Now

The Ministry of Culture on Tuesday said that the government has decided to celebrate the birthday of Netaji Subhas Chandra Bose that falls on...

Learning To Play The Piano As An Adult With John Perry

BY JAMIE CARTWRIGHT Quarantine has given many of us the space to explore new creative outlets. If you’ve always wanted to learn a new skill...

Do Not Neglect Your Child! It May Put An Effect on His/Her Brain Functioning

Parents, please take note. Make sure your child is not neglected as childhood emotional neglect has inter-generational effects on brain structure and function, a...

The Top Five Benefits Of Hemp Induced Skin Care Products

Hemp is one of the most talked-about ingredients in the beauty industry. When it comes to skincare the many benefits of hemp or hemp...

Anuradha Goyal’s Book: ‘Lotus in the Stone: Sacred Journeys in Eternal India

For author and noted travel blogger Anuradha Goyal, who has penned the book 'Lotus in the Stone: Sacred Journeys in Eternal India' on India's...

Study: Lack Of Compliments Tops The Reason For Female Infidelity

The lack of compliments and acts of kindness from their spouses is the top reason for female infidelity, reveals a study. The survey was conducted...

Recent Comments