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IMF reaffirms that India to be fastest-growing major economy in 2018

In its latest report “Asia and Pacific Regional Economic Outlook”, the International Monetary Fund (IMF) has reaffirmed that India will be the fastest-growing major economy in 2018, with a growth rate of 7.4% that rises to 7.8% in 2019 with medium-term prospects remaining positive. As per report, India was recovering from the effects of demonetisation ..

India world’s 6th largest economy

As per the database of IMF’s World Economic Outlook (WEO) for April 2018, India is the world’s 6th largest economy with record Gross Domestic Product (GDP) of $2.6 trillion for 2017. The five economies ahead are the United States, China, Japan, Germany and United Kingdom. This is the first time India crossed the $2.5 trillion ..

IMF projects India’s growth rate to 7.4% in 2018 and 7.8% in 2019

The International Monetary Fund in the latest World Economic Outlook (WEO) has projected India to grow at growth rate at 7.4% in 2018 and 7.8% in 2019, up from 6.7% in 2017. The report stated that India in 2018 and 2019 would re-emerge as one of the fastest growing major economies. The IMF explained this ..

Redistributive Resource Transfer

Redistributive Resource Transfer or RRT to a state (from the Centre) is defined as gross devolution to the state adjusted for the respective state’s share in aggregate Gross Domestic Product (GDP). Differences between foreign aid and RRTs are as follows: RRTs are intra-country transfers whereas foreign aid, as the name suggests, is an aid given by ..

India Ratings and Research (Ind-Ra) projects India’s growth to 7.1%

The India Ratings and Research (Ind-Ra) has projected the India’s economic growth to improve to 7.1% for FY19 (2018-19) from 6.5% this year, buoyed by robust consumption demand and low commodity prices. In its outlook for 2018-19, the India Ratings, a subsidiary of Fitch Ratings, stated that there will be a gradual pick up in ..

IMF reduces India’s growth forecast to 6.7%

The International Monetary Fund (IMF) has recently released its October 2017 World Economic Outlook. In it, IMF slashed India’s growth forecast by 0.5% points to 6.7% in FY 18 due to the lingering effects of disruption caused by demonetisation and transition costs of GST. Earlier, in April, the IMF had pegged India’s GDP growth at ..

The United Nations (UN) launches #NotATarget campaign for 2017 World Humanitarian Day (WHD)

The World Humanitarian Day (WHD) is observed every year on August 19 to pay tribute to aid workers who risk their lives in humanitarian service, and to rally support for people affected by crises around the world. The 2017 WHD campaign “#NotATarget” follows the UN Secretary-General’s report on the protection of civilians in armed conflict, ..

Russia formally joins WTO

After 18 years of negotiations Russia has finally become a formal member of the World Trade Organisation(WTO). Russia is ready to cut import tariffs on goods, including food and cars and to ease controls on foreign companies entering its financial and telecom sectors. Russia joins as the 156th member of the WTO.