The ambitious Goods and Services Tax (GST) to be implemented from July 1 would help raise India's medium-term growth to above eight per cent, the International Monetary Fund has said adding that the reforms being done is expected to pay off in terms of higher growth in the future.
Jaitley, who holds the additional charge of the Defence Ministry, said the Union Government has made the initial policy changes while some more are being planned.
Rising corporate debt continues to be a risk to the growth. The report says while emerging markets (EMs) are now better equipped to handle headwinds, rising corporate debt poses a threat.
The latest World Economic Report, she noted, has forecasted growth in 2017 at 3.5 per cent and in 2018 at 3.6 percent.
Lagarde, speaking ahead of next week's IMF and World Bank spring meetings in Washington, argued for countries to strengthen the post-war open trade architecture by cooperating multilaterally to solve trade issues such as reducing excessive external imbalances.
India fared poorly in terms of regional disparity of per capita income among the BRICS nations.
"The IMF board took the decision to grant Ukraine one billion dollars," wrote Petro Porochenko on his Facebook page, seeing it as "another sign of the reforms under way in Ukraine."
Lagarde said in a speech in Washington that the private sector alone will not be able to generate enough innovation to lift productivity to acceptable levels without government help.
According to a Finance Ministry report, per capita debt (calaculated on basis of Union Government debt) is at Rs 53,796 as on March 31, 2016, as against Rs 49,270 on March 31, 2015.
IMF chief Christine Lagarde condemned the explosion as a cowardly act of violence. "I ... reaffirm the IMF's resolve to continue our work in line with our mandate. We are working closely with the French authorities to investigate this incident and ensure the safety of our staff," she said.
Cooperation between countries that have current account deficits and those that have surpluses is required to address such imbalances, he told an IMF-hosted seminar in Tokyo on the international monetary system in Asia.
In his lengthy work report submitted to China's parliament, the National People's Congress (NPC) yesterday, Chinese Premier Li Keqiang said "the renminbi exchange rate will be further liberalised, and the currency's stable position in the global monetary system will be maintained".
In one of his addresses, Prime Minister Narendra Modi spoke on the timing of demonetisation, saying that you treat a patient when he is healthy and not when he is weak. His assessment of the economy being healthy at the time of demonetisation seems to be correct if the latest GDP numbers are to be believed.
The comments were a reference to the new sanctions the Trump administration imposed early this month on individuals and companies supporting Iran's ballistic missile program and the Revolutionary Guards military force.
China's bad loans totalled a whopping USD 220 billion last year with the provincial governments causing most of them due to their penchant for infrastructure overdrive, a banking report said today.
"That's why we think India will be, I'm not going to say immune, but less affected than other emerging economies if there's a further shock to the global economy, including a general global slowdown," Cashin said.
India's growth is projected to slow to 6.6 per cent in 2016-17 fiscal due to the strains that have emerged in the economy as a result of "temporary disruptions" caused by demonetisation, the IMF said today.
The cost of recapitalising India's struggling banks would be affordable even under a negative scenario, the International Monetary Fund said on Wednesday, urging government steps to strengthen the financial system.
Greek pensioner Dimitra says she never imagined a life reduced to food handouts: some rice, two bags of pasta, a packet of chickpeas, some dates and a tin of milk for the month.
The imperatives that drive Africa-India engagement are based on "shared challenges, common interests, and perceptions of mutual benefit" and come from "our complementary strengths and capacities that make us natural economic and commercial partners," Ansari said.
The IMF welcomed the Brussels meeting Monday where eurozone ministers said they had made some progress in the months-old dispute, with Greece agreeing to new bailout reforms.
In a rare interview and his first since he became RBI Governor, Patel on Friday opened up on the latest monetary policy decision and the factors that will curate the future interest rates.
The trade between India and China in 2016 was USD 71 billion. India had a very wide trade deficit of USD 46 billion.
"From the little we know, and I will insist on the little we know, because this is really work in progress... but from the little we hear, we have reasons to be optimistic about economic growth in the United States," Lagarde said at the annual World Government Summit in Dubai.
Christine Lagarde said Trump's plans for additional investment in US infrastructure and his likely tax reforms will boost the American economy.