India Positive - 07 October, 2016
- November 30, -0001
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India's gross domestic product (GDP) is expected to grow at 7.9 per cent in FY 2016-17, led by growth in private consumption, while agriculture GDP is expected to grow above-trend at 4 per cent to Rs 1.49 trillion (US$ 22.35 billion), according to Crisil.
The International Monetary Fund (IMF) has revised its projection for India’s economic growth to 7.6 per cent for FY2016-17 and FY2017-18, up from its earlier projection of 7.4 per cent, based on effective policy actions and stronger external buffers which have helped boost investment in the country.
The Reserve Bank of India (RBI) has cut its key repo rate by 25 basis points to 6.25 per cent, in order to boost growth as according to RBI, the inflation momentum has moderated because of a normal monsoon.
The Ministry of Corporate Affairs (MCA) has launched a Simplified Proforma for Incorporating Company Electronically (SPICE), aimed at providing speedy incorporation related services within stipulated time frames to bring ease of doing business in the country on a par with global norms.
The Reserve Bank of India (RBI) plans to allow start-ups to raise up to US$ 3 million a year, either in rupees or in any convertible foreign currency or a combination of both, through the external commercial borrowing (ECB) route.
The Government of India has unveiled a new Urban Development strategy for the next 20 years, aimed at development of rural and urban areas, housing for all urban poor and ensuring gender equity in the country among other objectives.
Mr Radha Mohan Singh, Union Minister of Agriculture & Farmers Welfare, announced launch of the e-NAM (National Agriculture Market) Mobile App and successful completion of e-NAM first phase, which means the electronic platform for agricultural trading is now connected to 250 markets across 10 states so far, with plans underway for connecting total 399 markets across 14 states.
Mr Rob Reeg, President, MasterCard operations & technology, has expressed confidence in India's growth potential and outlined plans of investing in the country to support the country's emerging start up ecosystem.
The Indian automobile industry is seeking to expand sales to Bangladesh by organising an expo in Dhaka, which would be known as the Dhaka automotive show, in February 2017.
Participants of the India Economic Summit, organised by World Economic Forum (WEF) in partnership with Confederation of Indian Industries (CII), appreciated the unanimity on the reforms undertaken by the Government and the improvement in India’s ranking in World Competitiveness Index, and expected India to do better to achieve growth of over 8 per cent.
Mr Johan C. Aurik, Chairman and Global Managing Partner, AT Kearney and co-chair of the World Economic Forum’s India Economic Summit, has appreciated the efforts taken by the Government to enable and drive change, which along with high growth of nearly 8 per cent, improvement in competitiveness, foreign investments and government’s commitment to reforms, increases positivity about India.
The International Monetary Fund (IMF) has welcomed the strong reform steps taken by India, especially related to passing of legislation for the Goods and Services Tax (GST), which the IMF expects to boost the country’s medium term growth.
Indian GDP to grow 7.9 per cent this fiscal, agriculture at 4 per cent: Crisil
India's gross domestic product (GDP) is expected to grow at 7.9 per cent in FY 2016-17, led by growth in private consumption, while agriculture GDP is expected to grow above-trend at 4 per cent to Rs 1.49 trillion (US$ 22.35 billion), according to Crisil.
IMF revises India’s growth to 7.6 per cent for FY17 and FY18
The International Monetary Fund (IMF) has revised its projection for India’s economic growth to 7.6 per cent for FY2016-17 and FY2017-18, up from its earlier projection of 7.4 per cent, based on effective policy actions and stronger external buffers which have helped boost investment in the country.
RBI puts growth ahead of inflation, cuts repo rate by 25 bps
The Reserve Bank of India (RBI) has cut its key repo rate by 25 basis points to 6.25 per cent, in order to boost growth as according to RBI, the inflation momentum has moderated because of a normal monsoon.
Ministry of corporate affairs eases rules for incorporating companies
The Ministry of Corporate Affairs (MCA) has launched a Simplified Proforma for Incorporating Company Electronically (SPICE), aimed at providing speedy incorporation related services within stipulated time frames to bring ease of doing business in the country on a par with global norms.
Start-ups can now take foreign currency loans via ECB route
The Reserve Bank of India (RBI) plans to allow start-ups to raise up to US$ 3 million a year, either in rupees or in any convertible foreign currency or a combination of both, through the external commercial borrowing (ECB) route.
Government unveils sustainable Urban Development strategy for next 20 years
The Government of India has unveiled a new Urban Development strategy for the next 20 years, aimed at development of rural and urban areas, housing for all urban poor and ensuring gender equity in the country among other objectives.
250 markets Connected to e-NAM Platform : Shri Radha Mohan Singh
Mr Radha Mohan Singh, Union Minister of Agriculture & Farmers Welfare, announced launch of the e-NAM (National Agriculture Market) Mobile App and successful completion of e-NAM first phase, which means the electronic platform for agricultural trading is now connected to 250 markets across 10 states so far, with plans underway for connecting total 399 markets across 14 states.
Huge market potential for online transactions in India: Rob Reeg
Mr Rob Reeg, President, MasterCard operations & technology, has expressed confidence in India's growth potential and outlined plans of investing in the country to support the country's emerging start up ecosystem.
Indian auto industry to hold its first expo in Bangladesh next year
The Indian automobile industry is seeking to expand sales to Bangladesh by organising an expo in Dhaka, which would be known as the Dhaka automotive show, in February 2017.
World sees India as bright spot, experts expect more sunshine
Participants of the India Economic Summit, organised by World Economic Forum (WEF) in partnership with Confederation of Indian Industries (CII), appreciated the unanimity on the reforms undertaken by the Government and the improvement in India’s ranking in World Competitiveness Index, and expected India to do better to achieve growth of over 8 per cent.
India is lucky that it is so big that it doesn’t need the world: Johan C. Aurik
Mr Johan C. Aurik, Chairman and Global Managing Partner, AT Kearney and co-chair of the World Economic Forum’s India Economic Summit, has appreciated the efforts taken by the Government to enable and drive change, which along with high growth of nearly 8 per cent, improvement in competitiveness, foreign investments and government’s commitment to reforms, increases positivity about India.
Adoption of GST poised to boost India’s medium-term growth: IMF
The International Monetary Fund (IMF) has welcomed the strong reform steps taken by India, especially related to passing of legislation for the Goods and Services Tax (GST), which the IMF expects to boost the country’s medium term growth.
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