The hype surrounding the Union Budget is an Indian oddity given that the document is primarily the Government’s revenue and expenditure statement containing few policy directions. Nevertheless, for the BJP-led …Read More
he Indian economy grew at 7.3 percent in 2014-15 compared to 6.9 per cent in 2013-14, making it the second straight quarter during which it grew at a faster rate than that of China.
According to reports released by the Central Statistics Office (CSO) on May 29, the economy surged primarily due to the improvements in the performance of service as well as the manufacturing sector. Although the GDP growth saw a marginal surge during 2014-15, it was lower than the earlier estimated figure of 7.4 percent. The fourth quarter (January-March 2015) recorded the highest percentage growth at 7.5 percent, better than 6.6 percent recorded in the previous quarter.
The manufacturing sector showed better improvement in 2014-15, as it grew at 7.1 percent against 5.3 percent recorded in the year 2013-14. The output of electricity, gas, water supply and other utilities increased by 7.9 percent against 4.8 percent in the previous year.
With the international community betting big on the India growth story under a reform-minded prime minister, the World Bank has projected that the Indian economy will catch up with China’s …Read More
A strong central government and a stable monetary policy has given India an edge over other BRICS countries to achieve swifter economic growth, says leading financial services firm JP Morgan. …Read More