Indian economy is expected to grow slightly higher at 7.5 per cent in 2015, according to the global rating agency Moody’s.
“India’s economy is on a cyclical upswing. Forward looking indicators suggest domestic demand is gathering momentum,” said Faraz Syed, associate economist, Moody’s Analytics.
Lower oil prices will help to increase the incomes of India, especially among the lower class people and help to drive down the hike of prices keeping it close to target in 2015, said the world economy’s health report releasedon Tuesday.
“Lower rates as well as the government’s infrastructure and disinvestment programs should provide a boost to domestic-oriented industries,” said Syed.
While India’s economy is on an upwing, China’s growth story is showing a downfall.
According to the International Monetary Fund’s latest World Economic Outlook (WEO), “While India’s development is expected to stay steady at 7.5% in 2016 too, China’s growth is expected to fall from 7.4% in 2014 to 6.8% in 2015 and 6.3% in 2016.”
India has rejected Pakistan Foreign Secretary Tehmina Janjua’s claims denying her country’s links to the Pulwama terror attack, saying that JeM, which claimed responsibility for the attack on Thursday, is based in Pakistan, and the “links are clear and evident and for all to see”.
The External Affairs Ministry spokesperson on Friday termed as “preposterous” the demand for an investigation, saying there is a video of the suicide bomber declaring himself a member of the terror group Jaish-e-Mohammed (JeM).
The spokesperson said India has not seen any constructive approach from Pakistan on bilateral relations and it has been sheltering terrorists and terror organisations such as JeM. He said Islamabad has not taken any action against such groups despite international demands.
India also demanded that Pakistan take immediate and verifiable action against terrorists and terror groups operating from territories under its control to create a conducive atmosphere in the region free of terror.
The spokesperson’s response came over Pakistan Foreign Secretary’s briefing rejecting Pakistan’s involvement in the terror attack on a paramilitary convoy in Jammu and Kashmir that killed at least 45 troopers. Janjua met envoys of P-5 countries late on Friday.
The spokesperson said JeM has claimed responsibility for the attack.
“The organisation and its leadership are located in Pakistan. LeT and other terror groups have welcomed the news of the attack. These groups are also based in Pakistan. Pakistan cannot claim that it is unaware of their presence and their activities.
“They have not taken any action against these groups despite international demands, especially against groups and individuals proscribed by the UN and other countries. The links to Pakistan are clear and evident for all to see. Its own Ministers have shared the same podium with UN proscribed terrorists,” the spokesperson said.
He said there was audio-visual material linking JeM to the terror attack.
“The demand for an investigation is preposterous when there is a video of the suicide bomber declaring himself a member of the JeM. There are also other audio-visual and print material linking JeM to the terrorist attack. We have therefore no doubt that the claim is firmly established,” the spokesperson said.
He said while there are claims to offer dialogue from Pakistan, it continues to shelter terror outfits.
“We have not seen any constructive approach from Pakistan on relations with India. What we have noticed however, are claims to offer dialogue on the one hand, while sponsoring and sheltering terrorists and terrorist organisations such as JeM on the other,” the spokesperson added. (IANS)