In the latest edition of ThePrint 'Off The Cuff', Gita Gopinath, Chief Economist of the International Monetary Fund (IMF), was in conversation with our...
IMF says much of the downgrade was due to slower growth in India, which is now forecast to expand 9.5% this year, and South East Asia, where the virus continues to wreak havoc.
Steep jump in medium-term growth rates, of the kind projected, needs strong private & govt investment, domestic demand & exports. Govt has bet on growth in own investment, while exports are doing well.
Demand for steel is expected to surge 17% to 110 mn tonnes this financial year due to rising power consumption & mining activity, and higher tractor & passenger vehicles sales.
IMF spokesperson Gerry Rice said it sees speeding vaccination campaign, providing fiscal resources to the health sector and social support as immediate policy priorities for India.
While capital controls may be useful in maintaining financial stability, Indian experience suggests IMF should focus on yardsticks of transparency, rule of law.
In its latest assessment, IMF warned of significant downside risks and economic scarring as labor market participation falls with the most vulnerable likely to be the hardest hit.
IMF chief economist Gita Gopinath said that the cumulative loss for the world economy this year and next as a result of the recession is expected to reach $12.5 trillion.
The IMF's record reveals that this is the lowest for India since 1961. However, it said that India's economy is expected to bounce back in 2021 with 6% growth.
After 19 years, the Bombay High Court finally held what governments and intelligence services have long known: The men sentenced for their role in the bombings had nothing to do with it.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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