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India to grow at faster rate than China, macroeconomic outlook remains stable, says UN report

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By NewsGram Staff Writer

This year, India will surpass China with an expected growth of  7.7 per cent, a jump of almost 1.5 per cent from the projection made in January, according to a new UN report.

“India is now projected to grow by 7.6 per cent in 2015 and 7.7 per cent in 2016, surpassing the growth of China,” said the United Nations Department of Economic and Social Affairs(UNDESA) report.

Earlier in January, the UNDESA report had stated that the GDP of India will be 6.2 in this year.

“This revision, mostly reflects a higher growth trajectory in India, where the recent changes in methodology and data sources have resulted in a considerably higher official growth figures for the past two years,” said the latest report.

The recent UN report concurred with reports from other international companies like World Bank and the International monetary fund(IMF), that India will have a faster growth rate in the future.

“Overall, I think the authorities in India have done a very good job over the past two years and this is actually reflected in some indicators,” Ingo Pitterle, a UNDESA Economic Affairs Officer and India expert said.

“In 2013 India was grouped among the fragile economies of Turkey, South Africa, Indonesia and Brazil. And now, you look at the same variables, they look very different,” Pitterle said.

“When you look at the currencies side, the Indian Rupee is the only currency that has held up well here, which is a sign of confidence by investors and the international community in the Indian economy”, he said.

The report also pointed out to string of factors to give a clear view that India was having a very sustainable economic condition.

“The rupee has done better than most currencies, inflation is down, monetary policy is prudent, current account deficit has declined, external imbalances have reduced and oil prices have softened”, the report said.

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“I feel I give back less than what I receive, and this disturbs me”,Says Amitabh Bachchan

I do know, and am intelligent enough to know my present standing and what I deserve. But when it exceeds that, I feel a discomfort.

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Amitabh Bachchan
The veteran actor was also lost in nostalgia as he recounted the old times. Pixabay

Megastar Amitabh Bachchan, who is in Bulgaria to shoot “Brahmastra”, spared a thought about the care and concern he gets wherever he goes. But he finds it disturbing that he feels he gives back less than he gets.

In a blog post from Bulgaria, where he is enjoying the sun, Amitabh wrote: “Filmmaking from my times has undergone substantial change… Hundreds of unit and crew work assiduously on projects these days, every little detail of the making and production is looked at with such a degree of importance and a liberty it astonishes me.

“I feel guilty at times at what is on offer from the unit at times… Their care and concern, their efforts to make everything so comfortable and pleasant, all with such alacrity and love. I do know, and am intelligent enough to know my present standing and what I deserve. But when it exceeds that, I feel a discomfort.

“I feel I give back less than what I receive, and this disturbs me.”

Amitabh Bachchan
There were times in the past when prominence was shown in much the same manner. Wikimedia commons

The veteran actor was also lost in nostalgia as he recounted the old times.

“There were times in the past when prominence was shown in much the same manner. Well not to the extent it is nowadays, and I felt maybe it was justifiable. But now with diminished presence, I feel it not right. I try hard to skip past it but it catches up .. as does most things in life,” he added.

Also Read-Amitabh Bachchan Is All Set To His Compete With Actor Ranveer Singh According To His Instagram Caption

“Brahmastra” features Alia Bhatt an Ranbir Kapoor, with Nagarjuna cast in a special role. It is produced by Karan Johar and directed by Ayan Mukerji.

A trilogy, its first part will release on India’s Independence Day on August 15, 2019.(IANS)