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

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indiachinaflage-k27G--621x414@LiveMint

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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Dalai Lama says that India and China have great potential

The spiritual leader feels that both the countries are doing compassionate works

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Dalai Lama talks about India and China
Tibetan spiritual leader Dalai says that India and China can work together. VOA

New Delhi, Nov 19

Tibetan spiritual leader the Dalai Lama on Sunday said India and China have “great potential” and they could work together at a “practical level”.

“I think, a great potential… India and China combined are doing more compassionate work… At a practical level also. Imagine two billion people working together,” he told reporters here after inaugurating Smile Foundation’s initiative, The World of Children.

The spiritual leader, who has lived in India in self-imposed exile since 1959, said neither country had the “ability to destroy the other”.

“Whether you like it or not, you have to live side by side,” he said.

Underlining the ancient spiritual connection between the two countries, he said Chinese Buddhist Hsuan Tsang visited Nalanda (now in Bihar) and brought Nalanda Buddhist traditions to China.

“All thinkers of Nalanda are Indian. So Nalanda’s tradition is India’s tradition,” he said.

The Nalanda traditions had turned Tibetans, who were warriors, into more compassionate, peaceful and non-violent nation, he said.

“So sometimes in Delhi, teasing my Indian friend, (I say) if Tibet still remained in the previous way of life, like Mongols, Chinese invasion may not have taken place,” the Dalai Lama said in a lighter vein.

He said nobody in the world wanted violence but it was happening “because our minds are dominated by destructive emotions due to short-sightedness”.

“Nobody wants problems. Yet, many problems are our own creation.”

The Dalai Lama said the existing modern education was oriented to material values. India can take lead in improving the education system by combining modern education with ancient knowledge, he said. (IANS)

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Manushi Chhillar from India Wins the Miss World 2017 Title

India's Manushi Chillar won the coveted Miss World 2017 pageant here, 16 years after Priyanka Chopra won the title in 2000.

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Miss World
Manushi Chhillar has been crowned as Miss World 2017. Instagram #ManushiChhillar

China, November 19: India’s Manushi Chhillar won the coveted Miss World 2017 pageant, 16 years after Priyanka Chopra won the title in 2000.

Chhillar competed against 108 contestants from various countries at a glittering event held at Sanya City Arena here.

Miss World 2016 winner Puerto Rico’s Stephanie Del Valle gave away the coveted crown to the winner.

Chhillar, who is from Haryana, had earlier this year won the Femina Miss India 2017.

Miss world
Anti Ageing was the official skin care expert for Manushi Chhillar at the Miss World 2017 pageant. Instagram #ManushiChhillar

India, England, France, Kenya and Mexico grabbed the top five spots at the peagant.

Manushi, born to doctor parents, studied in St. Thomas School in New Delhi and Bhagat Phool Singh Government Medical College for Women in Sonepat.

Her entire family including brother and sister were present and they looked excited watching Manushi grabbing top five spot.

As many as 108 beauty queens from different parts of the world participated in the prestigious pageant. (IANS)

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The major Challenge is to make the Youth of the Country Entrepreneurial and not Job Seekers : Venkaiah Naidu

"The challenge for us is to make the youth entrepreneurial, and not become job seekers," Venkaiah Naidu said pointing to the NDA government's various initiatives.

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Venkaiah Naidu
Venkaiah Naidu. Wikimedia Commons
  • At a time of tepid job growth and continuing income disparities, the major challenge is to make the youth of the country entrepreneurial and not job seekers, Vice President  Venkaiah Naidu said on Thursday.

“Disparities continue to remain in India and so there is a need for inclusive growth… there is the need to take care of the suppressed, oppressed and depressed,” Venkaiah Naidu said at the Bharatiya Yuva Shakti Trust’s (BYST) silver jubilee celebrations here with Britain’s Prince Charles as the chief guest.

“The challenge for us is to make the youth entrepreneurial, and not become job seekers,” Venkaiah Naidu said pointing to the NDA government’s various initiatives to encourage youth enterprises like Startup India, Standup India and the Mudra financing scheme for underprivileged sections.

Modelled on Prince Charles’ Trust for business startups, BYST, founded by Lakshmi Venkatesan, daughter of former President R. Venkatraman, is engaged in building rural entrepreneurship — “grampreneurs” — as also enterprise among under-privileged sections, which includes business mentoring. The current BYST chairman is Bajaj Group chief, Rahul Bajaj.

“Without mentoring, it would be very difficult to set up startups, with all the business, marketing and other vital issues involved in the first two-three years,” Prince Charles said in his address at the International Mentoring Summit organized by BYST to mark its 25 years.

“What amazes me are the sheer number of jobs these young entrepreneurs had created. The aim of such a project should be to create a virtual cycle of creating entrepreneurs who can then invest in the future of business,” Charles said referring to his trust.

BYST was officially launched in 1992 by Prince Charles and expanded its operations to six major regions of India.

Out of these six regions, four — Delhi, Chennai, Pune and Hyderabad — run the urban programme while two regions — Haryana and Maharashtra — run the rural programme.(IANS)