#Special Edition – May 2017, #Last Word
A US Federal Reserve report forecasts that the Goods and Services Tax (GST) has the potential to hike India’s GDP by nearly $100 billion.
The US Federal Reserve has confirmed what many people, including Prime Minister Narendra Modi and Finance Minister Arun Jaitley, have been saying for a long time.
Countering nay-sayers, they have maintained that the Goods & Services Tax (GST), which will come into force from July 1 this year, will push India into a higher growth trajectory and improve India’s GDP growth rate to 8 per cent and beyond.
Now, an International Financial Discussion Paper (IFDP) at the US Federal Reserve (FED) has calculated that the rollout of GST could increase India’s GDP by Rs 6.5 lakh crore ($100 billion) or 4.2 per cent. It did not mention the time frame by which this will be achieved. The additional output is almost double the government’s borrowing programme of Rs 3.48 lakh crore ($54 billion) for the current financial year.
#UK/Europe, #2017/2016, #April 2017, #Special Edition – May 2017, #OTHER HIGHLIGHTS
From a silent film set to the tunes of the sitar at the Taj Mahal to a travelling exhibition celebrating Indian achievements in science, this year promises to take India-UK cultural collaboration to a whole new level.
The Taj Mahal will form the backdrop of a rare screening of a silent film set to live music by sitar maestro Anoushka Shankar as part of a wide range of celebrations to mark UK India Year of Culture 2017.
#2017/2016, #July/August 2016, #Brexit Special
The frayed nerves have calmed; the markets have stabilised; and investor attention has turned from the fallout of Brexit to the flight path of the Monsoon clouds over India and the fairly good probability of the long awaited GST Bill finally going through the Rajya Sabha and becoming law.
More than a month after the unexpected vote in favour of Brexit, economists, analysts and policy planners are unanimous that that Britain’s shock decision to exit from the European Union (EU) is unlikely to cause any major long-term damage to the Indian economy as it is still very dependent on domestic consumption, which is mostly insulated from global even.
#May/June 2016, #2017/2016, #USA
Against the backdrop of Indian Prime Minister Narendra Modi’s visit to the US in June, here is a very brief snapshot of some of the recent trends in the India US economic ties over the past few weeks.
#Year, #March/April 2016, #2017/2016, #Asia Pacific
, Narendra Modi
, Arun Jaitley
, New Zealand
, Look East
, Piyush Goyal
, Adani Group
, Barrack Obama
, Nirmala Sitharaman
India’s rising global profile, its increasing integration into the global economy and expanding geo-political interests are changing the profile of ANZ – from a distant outpost somewhere in the southern hemisphere with hard to beat cricketers and harder to understand accents, these countries have suddenly emerged as important economic, strategic and military partners in India’s Act East initiative.