Skip to main content

India remains one of fastest-growing countries: White House report(theindianexpress)

India remains one of the fastest-growing countries in the world, the White House has said even as it underlined that inefficiencies persist in the country’s public sector the poor still lacking healthcare coverage and access to financial services. “India remains one of the fastest-growing countries in the world, with real GDP expanding at 7.3 per cent in the four quarters through 2016:Q3,” said the Economic Report of the President for the year 2017, which was sent to the Congress. The voluminous report running into nearly 600 pages says that economic growth in India continues at a solid pace of a projected 7.4 per cent over the four quarters of 2016.
Aim to make India 'world's most open economy': PM Modi in Japan
“Private consumption has been a major driver in economic growth, contributing 4.3 percentage points to its 7. 3 per cent real GDP growth rate in the four quarters through 2016:Q3,” the report said, adding that lower inflation and fiscal consolidation over the past year has created additional policy space for India to stimulate growth should a crisis occur.
“Macroeconomic risks revolve around inflationary pressure stemming from increasing commodity prices, which could weigh on the current account and fiscal deficit,” it said. “Inefficiencies remain in the public sector, with India’s poor still lacking healthcare coverage, educational attainment, and access to financial services. Further, inequality in India remains high,” the White House report said.
The report also noted the countries that export to China and the advanced economies have suffered due to the slowdown in those important markets, the report added. “Economic growth in China has been on a downward trend since a brief rebound after the global financial crisis. China has been attempting to re-balance from an investment- and export-driven economy to an economy driven more by private consumption,” it said.
The White House said as China’s economy grew to 15 per cent of global GDP in 2015, targeted industrial policies have made it the world’s largest manufacturer and the dominant producer of some key goods in the global marketplace, as well as a major source of demand for an array of goods, magnifying the effects of changes in its domestic economy on global prices and growth.

Comments

Popular posts from this blog

Khar’s experimentation with Himalayan nettle brings recognition (downtoearth)

Nature never fails to surprise us. In many parts of the world, natural resources are the only source of livelihood opportunities available to people. They can be in the form of wild shrubs like Daphne papyracea and Daphne bholua (paper plant) that are used to make paper or Gossypium spp (cotton) that forms the backbone of the textile industry.

Nothing can compete with the dynamism of biological resources. Recently, Girardinia diversifolia (Himalayan nettle), a fibre-yielding plant, has become an important livelihood option for people living in the remote mountainous villages of the Hindu Kush Himalaya.

There is a community in Khar, a hamlet in Darchula district in far-western Nepal, which produces fabrics from Himalayan nettle. The fabric and the things made from it are sold in local as well as national and international markets as high-end products.

A Himalayan nettle value chain development initiative implemented by the Kailash Sacred Landscape Conservation and Development Initiati…

SC asks Centre to strike a balance on Rohingya issue (.hindu)

Supreme Court orally indicates that the government should not deport Rohingya “now” as the Centre prevails over it to not record any such views in its formal order, citing “international ramifications”.

The Supreme Court on Friday came close to ordering the government not to deport the Rohingya.

It finally settled on merely observing that a balance should be struck between humanitarian concern for the community and the country's national security and economic interests.

The court was hearing a bunch of petitions, one filed by persons within the Rohingya community, against a proposed move to deport over 40,000 Rohingya refugees. A three-judge Bench, led by Chief Justice of India Dipak Misra, began by orally indicating that the government should not deport Rohingya “now”, but the government prevailed on the court to not pass any formal order, citing “international ramifications”. With this, the status quo continues even though the court gave the community liberty to approach it in …

Cloud seeding

Demonstrating the function of the flare rack that carries silver iodide for cloud-seeding through an aircraft. 
Water is essential for life on the earth. Precipitation from the skies is the only source for it. India and the rest of Asia are dependent on the monsoons for rains. While the South West Monsoon is the main source for India as a whole, Tamil Nadu and coastal areas of South Andhra Pradesh get the benefit of the North East Monsoon, which is just a less dependable beat on the reversal of the South West Monsoon winds.