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India projected to grow fastest among emerging nations

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New Delhi: India is projected to grow at 7.5 percent in 2016 and 2017 fiscal as China slows to 6.3 percent in 2016 and 6.0 percent in 2017, according to the International Monetary Fund(IMF).

The slower pace of China’s growth primarily reflects weaker investment growth as the economy continues to rebalance, the International Monetary Fund said in its January update of the World Economic Outlook (WEO).

India and the rest of emerging Asia are generally projected to continue growing at a robust pace, although with some countries facing strong headwinds from China’s economic rebalancing and global manufacturing weakness.

Growth prospects in parts of Asia have diminished somewhat as a result of the unexpectedly big external spillovers from China’s growth transition, the WEO said.

In contrast, India. A major net commodity importer, continues to grow at the fastest pace among emerging economies.

Growth forecasts for most emerging market and developing economies reveal a slower pick up than previously predicted.

Still, growth is projected to increase from 4 percent in 2015-the lowest rate in the 2008-09 financial crisis to 4.3 and 4.7 percent in 2016 and 2017 respectively.

Global growth, currently estimated at 3.1 percent in 2016 and 3.6 percent in 2017 with growth in advanced economies projected to rise by 0.2 percentage point in 2016 to 2.1 percent and hold steady in 2017.

The pickup in global activity is projected to be more gradual than in the October 2015 WEO, especially in emerging market and developing economies.

In advanced economies, a modest and uneven recovery is expected to continue, with a gradual further narrowing of output gaps.

Risks to the global outlook remain titled to the downside and relate to ongoing adjustments in the global economy: a generalized slowdown in emerging market economies, China’s rebalancing, lower commodity prices, and the gradual exit from extraordinary accommodative monetary conditions in the Unites States.

If these key challenges are not successfully managed, global growth could be derailed, the WEO warned.

In the emerging market and developing economies and, policymakers need to manage vulnerabilities and rebuild resilience against potential shocks while lifting growth and ensuring continued convergence toward advanced income levels , the WEO suggested.(IANS)

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Dating Apps Face Restrictions in China After Their Growing Success

A mobile application, which allows wealthy older people to connect with young lovers, is facing restrictions in China after a surge in popularity in the country, state media reported on Friday.

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The study by global cyber security company Kaspersky Lab showed that many dating apps do not handle users’ sensitive data with sufficient care. (Source: File Photo)

A mobile application, which allows wealthy older people to connect with young lovers, is facing restrictions in China after a surge in popularity in the country, state media reported on Friday.

SeekingArrangement, which was the most downloaded app on Apple Store China this week and also registered high numbers on Android, has been banned from WeChat — a popular Chinese messaging service similar to WhatsApp — Efe news reported citing the official newspaper China Daily.

The move came after the state-run Global Times — linked to the Communist Party of China — urged the government to shut down the app’s operations in the country for promoting “sugar dating”, a practice in which wealthy older suitors are matched with younger people in exchange for economic benefits or gifts.

The company would also provide day-one support for Windows Server 2019 to deliver virtualised apps with XenApp.
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Lawyers cited by official media warned that the services offered by such websites could be classified as prostitution, which is illegal in China.

How safe are online dating apps?

The app was founded in 2006 by entrepreneur Brandon Wade, who has defended it by saying “love is a concept invented by poor people”, and has its Chinese headquarters in the Shanghai Free Trade Zone, which has fewer legal restrictions than the rest of the country.

Male members pay a monthly fee of $60, while females use the app for free or pay $15 to access more functions and are required to list their annual income, which should be higher than $47,000 to use the services. (IANS)

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