Indian Economy fastest growing economy in Asia; on track to meet an FY18 target
The Asian Development Bank (ADB) said India will continue to be the fastest growing country in the world. China is going beyond the rapid growth. Indian economy is expected to grow at 7.3 per cent in the fiscal year 2018-19 and 7.6 per cent in 2019-20, according to the Associated Reports on Asian growth estimates. ADB continues same expectation which released earlier this year April. Indian Economy
No. 1 in South Asia: India’s growth in the South Asian region grew by 7.7 per cent in the last quarter (2017-18), ADB said. This is the highest growth rate of India in a quarter after the first quarter of 2016-17. ADB estimates that This 7.7 per cent growth in the last quarter is likely to exceed 6.7 per cent growth rate for the full fiscal year. India also plays a key role in the development of South Asia. Indian Economy
China’s growth projections …: ADB estimates China’s growth rate will be 6.6% in 2018 and 6.4% in 2019. In 2017, China’s growth rate was 6.9 per cent. ADB has said that developed nations in Asia and the Pacific may have strong growth in the next two years, despite the impact of tensions between the US and its trade partner countries. On the other hand, major industrial economies (US, Europe, Japan) have not changed the rate of growth.
The impact of trade war fears has come to an end: The ADB has shown that despite the protection of trade policies and trade warfare by the respective countries so far in the current year, there has been little impact on export imports among Asian countries.
Challenges .. India is ahead: FICCI
FICCI estimates that India’s GDP growth may not exceed 7.5 per cent in the current fiscal. In the coming years, this growth rate will be improved. In May, industrial output declined and there was not much concern the rise in inflation in June. The effect is short-lived. “In the coming days, industrial growth is likely to rebound. On the other hand, RBI will have surveillance on inflation, “Ficci President Rakesh Shah said.
These are the ones that boost India economy ..
* Government costs are rising
* Enhancement of production capacity utilization.
* Upgrading private investments
* Steps to strengthening the banking system
* Gesture policy results start