India will most probably overtake China as the most populous country in the world in 2030. China is better placed structurally than India for a good economic performance, but it is most likely to be much lower than its recent average performance of about 10 per cent a year. How much lower it would be would depend on its ability to maintain current labour productivity levels and the benefits likely to flow from its proposed trans-continental rail system and other transport-related activities. Troubles in China’s financial markets, a declining young and increasing older population as a proportion of the working age population, increasing wages in general and export industries in particular, costs associated with cleaning up serious environmental pollution, increasing competition from other countries in export industries using low-skill and semi-skill labour, lower savings rate and a possibly lower investment rate will have a negative effect on its growth. … [Read more...] about Can India catch up with China?
Deficit financing in india
The overall economic situation in the country is looking better and the basic parameters of the Indian economy are moving in the right direction, Union Finance Minister Arun Jaitley said ahead of the release of the advanced estimates by CSO. “India’s growth rate would be better than last year as per the old system,” he said addressing a parliamentary consultative committee. … [Read more...] about India fastest growing economy
The government is also considering providing duty protection to select domestic industries from imported finished goods, particularly from China. This could, however, be within the bound rate of the World Trade Organisation (WTO) for a period of five to six years under a phased manufacturing programme (PMP) . The scheme is aimed at sectors such as plastics, furniture and toys, the second official said, listing sectors where exports, especially from China, have hurt Indian industry. … [Read more...] about Govt considering series of measures to boost economy
New Delhi, Aug 26: India's economy will grow at a median rate of 6 per cent during the first quarter of the current financial year ended June 30, according to a Ficci report. The country's economy grew at 8.2 per cent in April-June 2018-19. The growth numbers for the first quarter are expected to be released by the Central Statistics Office next week. "The recently released unemployment numbers by NSSO reaffirm the grim situation with regard to employment in the country," said Ficci Economic Outlook Survey. It pegged the annual median GDP growth forecast for 2019-20 at 6.9 per cent, with a minimum and maximum estimate of 6.7 per cent and 7.2 per cent, respectively. The median is the middle number in a sorted, ascending or descending list of numbers which can be more descriptive of a data set than the average. A majority of the participating economists in the survey suggested the RBI will continue its accomodative stance, with a further cut in the repo rate in the remaining part of … [Read more...] about India’s GDP to grow at 6 per cent in Apr-Jun: Survey
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine. … [Read more...] about Centre postpones 42nd GST Council meet to October 5