-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...
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New GDP Numbers Make Jaitley Happy -Lola Nayar
-Outlook 7.4 per cent growth is good news for the NDA's finance minister who will present his full budget two weeks from now. Indian economy is forecast to grow at an accelerated 7.4 percent in the fiscal year ending in March 2015 as against 6.9 percent in the previous fiscal, according to advance estimates released Monday. The high growth numbers, based on the new formula (with 2011-12 as the base year)...
More »The twist in the growth story -C Rangarajan
-The Hindu Reforms must be part of a continuing agenda. The basic principle guiding reforms must be to create a competitive environment with a stress on efficiency. In many ways the coming decade will be crucial for India as growth is the answer to many of its socio-economic problems The data on national income released recently give a new twist to India's growth story. The most significant change is with respect to...
More »The love for sons and appropriate attire -Megan N Reed & Devesh Kapur
-The Hindu Although urban Indians are slowly showing more openness in their attitudes towards women's attire, this is not the case when it comes to the issue of son preference As one of the world's most socially heterogeneous societies, building solidarity across social groups has been a singular challenge in India. Social bias in India is pervasive across a range of key cleavages - whether caste or class, region or religion. In this...
More »Private sector, ‘care economy’ will be key engines of job creation for next 5 years –UN report
-The United Nations Private sector services, such as business and administrative services, and real estate, as well as related industries, will employ more than a third of the global workforce over the next five years, according to new data released by the United Nations labour agency. "Service sector employment will remain the most dynamic with respect to job creation in the next five years," said Raymond Torres, a head researcher of...
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