Indian Economy: News and Discussion

Kshatriya87

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New investments being made

Investments
Following are some major investments and developments in the Indian consumer market sector.

  • US-based food company Cargill Inc, aims to double its branded consumer business in India by 2020, by doubling its retail reach to about 800,000 outlets.
  • Yum!Brands, plans to open 100 Taco Bell outlets in India over the next five years, which makes Indian expansion a key part of its plan to triple its outlets outside US to 1,000.
  • Hamleys has stated that India is one of the most important markets for Hamleys globally, and outlined plans of opening six more stores, taking its total store count in the country to 32 by the end of March 2017.
  • Roche Bobois Group, outlined plans of opening new stores in cities like Hyderabad, Chennai, Pune, Kolkata and Ahmedabad, in order to make India one of its top five markets by 2021.
  • Diageo, the world’s largest spirit maker, has announced opening of a new business service centre called Diageo Business Services India (DBSI) in Bengaluru, which aims to increase its workforce to 1,000 from 100 currently.
  • Amway, India’s largest company in the Rs 7,500 crore (US$ 1.12 billion) direct-selling market, plans to invest Rs 400 crore (US$ 60 million) over the next five years to expand its product portfolio and open 50 ‘express’ stores in top 20 cities of India, in addition to strengthening its e-commerce website.
  • Furlenco, an online furniture rental company, has raised US$ 30 million in series B round of funding led by LightBox Ventures, Axis Capital and a number of high net-worth individuals, which will be used to expand its geographical presence and product offerings in the next 12 months.
  • Dyson, the UK-based manufacturer of innovative vacuum cleaners and air purifiers, plans to enter Indian consumer market by 2017 and invest GBP 154 million (US$ 190 million) over the next five years in areas of retail infrastructure, marketing, promotion and taxes to the government.
  • Zefo, a Bengaluru-based refurbished goods marketplace, has raised Rs 40 crore (US$ 6 million) in a funding round led by Sequoia India, with participation from Beenext and Helion Venture Partners, which will be used to expand its team, invest in technology, and expand its presence in Mumbai and Delhi, which were recent additions.
  • Adidas India Private Limited, outlined plans of opening around 30-40 big flagship stores across Delhi, Mumbai and Bengaluru, by 2020.
  • Swiss watchmaker Montres Corum Sàrl, better known as Corum, has partnered with the luxury watch retailer Ethos Watch Boutiques to sell Corum watches in India, in order to strengthen its presence in India by rebuilding its distribution network and boosting revenues.
  • AO Smith, a US based water technology and air purification solutions company, sees India as one of key markets and plans to grow at double-digit growth rate, having invested US$ 75 million so far.
  • Crocs India Pvt Ltd, outlined plans of increasing its store count in India from 38 to 100 by the end of 2017, and increasing its focus on the casual footwear category to expand its consumer base and thereby boost its overall revenue.
  • Panasonic Corporation plans to set up a new manufacturing plant for refrigerators in India with an investment of Rs 250 crore (US$ 37.5 million), and also invest around Rs 20 crore (US$ 3 million) on an assembly unit for lithium ion batteries at its existing facility in Jhajjar.
  • Bosch & Siemens, the largest manufacturer of home appliances in Europe, plans to manufacture more products in India in the next three years, led by rise in demand for premium home and kitchen appliances.
Government Initiatives
The Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in online retail of goods and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India.

With the demand for skilled labour growing among Indian industries, the government plans to train 500 million people by 2022 and is also encouraging private players and entrepreneurs to invest in the venture. Many governments, corporate and educational organisations are working towards providing training and education to create a skilled workforce.

The Government of India has drafted a new Consumer Protection Bill with special emphasis on setting up an extensive mechanism to ensure simple, speedy, accessible, affordable and timely delivery of justice to consumers.

In the Union Budget 2017, the government has proposed to spend more on the rural side with an aim to double the farmer’s income in five years; as well as the cut in income tax rate targeting mainly the small tax payers, focus on affordable housing and infrastructure development will provide multiple growth drivers for the consumer market industry.

Union Cabinet reforms like implementation of the Goods and Services Tax (GST) and Seventh Pay Commission are expected to give a boost to consumer durable sector in India.






Consumer spending in India poised for explosive growth: report


By 2020, consumption will reach US$3.6 trillion, as new generation hits its prime spending years, according to a recent CII-BCG report

The Boston Consulting Group (BCG) and The Confederation of Indian Industry (CII) jointly released a study titled An In–Depth Analysis of How a Billion Plus People Consume. “This report examines the shape and size of consumption expenditure in India in detail, and its expected evolution over the next decade. While India’s robust consumption growth presents attractive opportunities for companies, its unique diversity and variety makes it challenging to capture these opportunities. Towards that end, this report presents a framework and approach on how to de–average the opportunity to better segment consumers and effectively understand their buying preferences," says Abheek Singhi, Leader of the Consumer & Retail Practices, BCG India and co-author of the report.



Buoyed rising household income, the coming of age of a new generation, and other socioeconomic forces, overall consumer spending in India is likely to expand 3.6 times from US$991bn in 2010 to US$3.6 trillion by 2020. The projected 14% growth rate is much faster than the anticipated annual global growth of 5.5% and even faster than the anticipated growth in emerging economies of 9%. By 2020, India will constitute 5.8% of global consumption more than double the 2.7% it now represents.



Despite the current global economic environment, India continues to march along a robust growth path. With the recent regulatory changes, increasing consumption levels and changing consumer preferences, the FMCG and retail sectors are standing at the point of inflexion," says Amitabh Mall, Partner & Director, BCG India.



India has a billion plus consumers spanning all income segments. The income pyramid is real but does only a partial job of explaining consumer attitude and behaviour. This report provides a definitive view of the income segmentation and more importantly uses other parameters of location, education and occupation to define the seven segments in India.

  • Professional Affluent (2% of households)
  • Traditional Affluent (4% of households)
  • Urban Aspirers (8% of households)
  • Rural Aspirers (6% of households)
  • Large Town Next Billion (6% of households)
  • Small Town and Rural Next Billion (24% of households)
  • Strugglers (50% of households)
Food, housing & consumer durables and transport & communication are expected to be the Top 3 categories, accounting for 65% of consumption in 2020. The Professional Affluent are expected to dominate consumption in 2020, accounting for 26% of total consumption expenditure, up from 16% in 2010. By contrast, spending by struggler households will decline from 26% in 2010 to 11% in 2020.



"The roar of the Tiger is a fitting metaphor for consumer spending in India. Consumer spending in India will continue to roar, but the companies that try to capture it may not be so fortunate. India is a big and growing consumer market, but not an easy one. Understanding the size and shape of the prize and where it is hidden in the challenging fabric of India are the first steps to capturing it," concludes Abheek Singhi.


http://www.indiainfoline.com/articl...r-explosive-growth-report-113103007422_1.html

Consumer spending in India is expected to triple by 2020.



Indian consumer spending is projected to rise to $3.6 trillion in 2020, from $991 billion in 2010.

Source: Boston Consulting Group

http://www.businessinsider.in/16-Fa...ted-to-triple-by-2020-/slideshow/37120467.cms

Household final consumption expenditure, etc. (% of GDP)


For india it is 59 % approx
http://data.worldbank.org/indicator/NE.CON.PETC.ZS
Would like to add IKEA in that list.
 

Kshatriya87

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scatterStorm

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The Largest public sector bank to consolidate more banks making it one of the worlds largest banks like Jp Morgan, HSBC, Bank of China to name a few:

Our public sector bank, Sate Bank of India will consolidate with other small banks to cater and estimated 550 Billion dollars.

On an economic perspective this would alllow, our banks to grow more reserves at a much faster rates.

Here's the video by BBC:

 

Prashant12

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Forex reserves move up $2 bn to $369.95 bn

India's forex reserves went up by USD 2.02 billion to USD 369.95 billion in the week to March 31 on a huge jump in currency assets, the Reserve Bank said today.

The forex kitty had increased by USD 1.15 billion to USD 367.93 billion in the previous reporting week.

Foreign currency assets (FCAs), a major component of the overall reserves, rose by USD 2.08 billion to USD 346.32 billion in the reporting week, the RBI said.

Expressed in US dollar terms, FCAs include the effect of appreciation and depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.

Gold reserves moved down by USD 45 million to USD 19.87 billion, it said.

The special drawing rights with the International Monetary Fund fell USD 5.1 million to USD 1.45 billion while India's reserve position with the IMF, too, dropped by USD 10.7 million to USD 2.32 billion, the apex bank added.

http://www.business-standard.com/ar...move-up-2-bn-to-369-95-bn-117040700935_1.html
 

Akshay_Fenix

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India jumps 12 spots in WEF’s global travel & tourism ranking

India has jumped 12 places to 40th rank globally in travel and tourism competitiveness list by World Economic Forum.

India is one of the countries that improved the most as it gained 12 places in Asia, but lagged behind its other Asian peers like Japan and China which were ranked way ahead at 4th and 13th place, respectively. Spain is ranked at the top in the list.

“India continues to enrich its cultural resources, protecting more cultural sites and intangible expressions through UNESCO World Heritage lists, and via a greater digital presence,” WEF said in its Global Travel and Tourism Competitiveness Report 2017.

Some of the factors that helped India climb up the ladder include international openness through strong policies such as implementing visa on arrival and e-visas, and improvements in the country’s ground transport infrastructure which benefited the travel and tourism sector in the country, it added.

India has seen continued growth in international arrivals over the past 15 years, reaching the 8 million mark in 2015, WEF said, adding the country’s vast cultural and natural resources, and its price competitiveness advantage also attracted international tourists.

The report, however, noted that though health conditions are improving, they remain “inadequate”. Similarly, ICT readiness, security concerns and human resources are improving, but remain “weak”.

“While further improvements are needed across these dimensions, India is taking small but important steps in the right direction,” WEF said, adding that the Indian travel and tourism sector presents significant opportunities that are yet to be reaped, especially in the provision of tourist service infrastructure, and in terms of additional accommodation capacity and entertainment facilities.

In the global ranking Spain, France and Germany were ranked at the top three positions, making them the most tourism friendly economies.

Traditional strong travel and tourism destinations, including Japan (4th), the United Kingdom (5th), the United States (6th), Australia (7th), Italy (8th), Canada (9th) and Switzerland (10th), have also made it to the top 10.

While advanced economies still hold the top slots, 12 of the top 15 most improved countries are emerging markets.

“The rise of Asia’s giants shows that the Asian Tourism Century is becoming a reality. To reach their potential, the majority of countries still have more to do, from enhancing security, promoting their cultural heritage, building their infrastructure and creating stronger visa policies,” WEF Community Lead of the Aviation, Travel and Tourism Industries Tiffany Misrahi said.

These results are of significant importance as tourism helps economic growth and job creation - up to 1/10th of global GDP and jobs are tourism-related, WEF noted.

The report ranks 136 countries across 14 dimensions, revealing how well countries could deliver sustainable economic and societal benefits through their travel and tourism sector.


http://www.hindustantimes.com/busin...ism-ranking/story-jQLwAXYwhgEVw0JrlDq6wJ.html


We had been hovering around 68-65 rank since the ranking began which was back in 2007. In just 2 years we reached 40th spot. Now that's a commendable achievement.
 

Superdefender

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Well, well, well. Looks like Rupee will appreciate to 64 mark against dollar very soon.
 

Kshatriya87

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India jumps 12 spots in WEF’s global travel & tourism ranking

India has jumped 12 places to 40th rank globally in travel and tourism competitiveness list by World Economic Forum.

India is one of the countries that improved the most as it gained 12 places in Asia, but lagged behind its other Asian peers like Japan and China which were ranked way ahead at 4th and 13th place, respectively. Spain is ranked at the top in the list.

“India continues to enrich its cultural resources, protecting more cultural sites and intangible expressions through UNESCO World Heritage lists, and via a greater digital presence,” WEF said in its Global Travel and Tourism Competitiveness Report 2017.

Some of the factors that helped India climb up the ladder include international openness through strong policies such as implementing visa on arrival and e-visas, and improvements in the country’s ground transport infrastructure which benefited the travel and tourism sector in the country, it added.

India has seen continued growth in international arrivals over the past 15 years, reaching the 8 million mark in 2015, WEF said, adding the country’s vast cultural and natural resources, and its price competitiveness advantage also attracted international tourists.

The report, however, noted that though health conditions are improving, they remain “inadequate”. Similarly, ICT readiness, security concerns and human resources are improving, but remain “weak”.

“While further improvements are needed across these dimensions, India is taking small but important steps in the right direction,” WEF said, adding that the Indian travel and tourism sector presents significant opportunities that are yet to be reaped, especially in the provision of tourist service infrastructure, and in terms of additional accommodation capacity and entertainment facilities.

In the global ranking Spain, France and Germany were ranked at the top three positions, making them the most tourism friendly economies.

Traditional strong travel and tourism destinations, including Japan (4th), the United Kingdom (5th), the United States (6th), Australia (7th), Italy (8th), Canada (9th) and Switzerland (10th), have also made it to the top 10.

While advanced economies still hold the top slots, 12 of the top 15 most improved countries are emerging markets.

“The rise of Asia’s giants shows that the Asian Tourism Century is becoming a reality. To reach their potential, the majority of countries still have more to do, from enhancing security, promoting their cultural heritage, building their infrastructure and creating stronger visa policies,” WEF Community Lead of the Aviation, Travel and Tourism Industries Tiffany Misrahi said.

These results are of significant importance as tourism helps economic growth and job creation - up to 1/10th of global GDP and jobs are tourism-related, WEF noted.

The report ranks 136 countries across 14 dimensions, revealing how well countries could deliver sustainable economic and societal benefits through their travel and tourism sector.


http://www.hindustantimes.com/busin...ism-ranking/story-jQLwAXYwhgEVw0JrlDq6wJ.html


We had been hovering around 68-65 rank since the ranking began which was back in 2007. In just 2 years we reached 40th spot. Now that's a commendable achievement.
Very good pace. Incredible India needs to be further publicized all across the world.
 

Indx TechStyle

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There is no point in doing that until and unless we have a proper tourist infrastructure.
India lags in hotels per capita when comes to tourist infra. Rest is being done at okay pace.
As the increment in hotels and restaurants is demand driven, we can only wait & see.
More tourists means more hotels.
 

Akshay_Fenix

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Exports jump 27.6% in March; trade deficit swells to $10.4 bn

Export growth touched an over five-year high of 27.6 per cent in March on account of better performance of petroleum and engineering sector, though the expansion during 2016-17 stood at only 4.7 per cent.

During the last fiscal, exports aggregated at USD 274.64 billion. In March, the outward shipments were at USD 29.23 billion.

The trade deficit in March, however, more than doubled to a four-month high of USD 10.43 billion due to surge in imports specially of gold.

While overall imports rose by 45.25 per cent to USD 39.7 billion, gold imports jumped to USD 4.17 billion in March as against USD 973.45 million in March 2016.

"In continuation with the double digit growth exhibited by exports during February, exports during March have shown a significant growth," the commerce ministry said in a statement.

Commenting on the figures, FIEO said it is an encouraging sign for exports as for the overall economy.

"We have recorded healthy growth in exports during such challenging times when currencies across the globe have been impacted because of the dwindling global trade," Federation of Indian Export Organisations (FIEO) President Ganesh Gupta said.

The previous high in export growth was recorded at 36.3 percent in September 2011. In February also, the outward shipments had registered a double digit growth.

Exports during 2016-17 showed an upward trend after declining in the two consecutive financial years.

The main sectors that helped boost shipments include engineering, petroleum, textiles, chemicals, pharma, gems and jewellery, iron ore and marine products.

For the entire last fiscal, imports dipped 0.17 per cent to USD 380.3 billion, lowering trade deficit at USD 105.7 billion against USD 118.7 billion in 2015-16.

Oil imports grew by 101.43 per cent to USD 9.71 billion in March. Non-oil imports too increased by 33.21 per cent to USD 30 billion during the month.

Cumulatively, oil imports during the April-March of last fiscal were valued at USD 86.45 billion, about 4.24 per cent higher than the previous year. Non-oil imports during theyear, however, declined by 1.39 per cent to USD 294 billion.

http://www.moneycontrol.com/news/bu...-trade-deficit-swells-to-10-4-bn-2258339.html
 

tharun

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Looking at our service sector's import is almost 65-70% of export.
Looks like we are not good at the present situation..we need to decrease the services....loot at it.
upload_2017-4-16_17-16-57.png

Every year we had lot of trade deficit..which is mostly covered by remittances and service sector.
Either we need to decrease our imports in both product and service...or...increase exports.
 

Kshatriya87

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There is no point in doing that until and unless we have a proper tourist infrastructure.
True. I've been to US and observed one thing there. No matter how remote and inaccessible, they've built tracks & kacha roads where pakka roads are not possible for hikers etc.

I mean it was everywhere in california. Any remote place, you would find a proper track built there. And all these small locations too were mentioned in tourists pamphlets to visit.
 

Cutting Edge 2

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Indian economy set to overtake Germany’s by 2022, push UK out of top 5: IMF
India is set to leapfrog Germany to rank fourth globally by 2022, pushing the UK down to sixth place behind its European peer, according to IMF estimates

Lucy Meakin



Britain is set to drop out of the world’s five largest economies, according to the IMF. Photo: Bloomberg
London:The UK’s global economic power is waning as the Indian economy expands.

Britain is set to drop out of the world’s five largest economies based on gross domestic product in nominal terms, according to International Monetary Fund estimates published this week.

India is set to leapfrog Germany to rank fourth globally by 2022, pushing the UK down to sixth place behind its European peer. The slide in Britain’s relative size comes as the nation sets out to redefine its trading relationship with the rest of the world after Brexit.

The rankings also highlight India’s rapid rise, with the economy expanding 9.9% per year. By contrast, the IMF projects the UK will grow just 2% this year and 1.8% in 2018, impeded in part by “the negative effects of the United Kingdom’s decision to leave the European Union.”

http://www.livemint.com/Home-Page/w...-to-overtake-Germanys-by-2022-push-UK-ou.html
 

Cutting Edge 2

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GST reform an ‘act of courage’, says IMF chief Christine Lagarde
Lagarde said the situation in the country after demonetisation has "improved significantly".

By: PTI | Washington | Published:April 20, 2017 9:26 pm
International Monetary Fund (IMF) Managing Director Christine Lagarde. (AP Photo/File)
Describing the ongoing Goods and Services Tax (GST) reform as an “act of courage”, IMF chief Christine Lagarde on Thursday said she expects “some positive outcome” as a result of the decision. “The GST reform is really an act of courage,” Lagarde told reporters during the annual Spring meeting of the International Monetary Fund and the World Bank. It really means reforming in-depth in each of the Indian States in order to substitute the State taxes with overall federal tax, the re-allocation of it and the digital platform that supports it, she said.

“So, I am personally impressed by the work that is being done in that regard and expect some positive outcome,” Lagarde said in response to a question, adding that she is impressed by the other reforms being carried out by the Indian Government.

“There has been other reforms as well that has been conducted by the Indian authorities courageously. One of them -– as a former lawyer I am particularly attentive to because it particularly when you have to deal with the corporate sector banking sector that means help — is the bankruptcy reform,” the 61-year-old IMF chief said.

“We are seeing significant development and clear determination to continue and sustain growth going forward,” she said.

Lagarde said the situation in the country after demonetisation has “improved significantly”.

“We have slightly revised down our Indian projection as a result of demonetisation that has been announced recently a little bit unexpectedly. Our understanding is that demonetisation has now remedied about 75 per cent. Those are the latest figures that we have,” she said.

“So clearly the situation is now being mended. And we believe that India is going to continue to grow at a really fast pace. I think, we have 7.2 per cent forecast for 2017,” Lagarde said.

Touted as the biggest taxation reform since India’s Independence, the GST will subsume central excise, service tax, Value Added Tax (VAT) and other local levies to create an uniform market.

GST is expected to boost India’s GDP growth by about 2 per cent and check tax evasion.

http://indianexpress.com/article/bu...age-says-imf-chief-christine-lagarde-4621473/
 

Prashant12

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Forex reserves increase by $889.4 mn to $369.887 bn

MUMBAI: India's foreign exchange reserves rose by USD 889.4 million to USD 369.887 billion during the week ended April 14, helped by increase in foreign currency assets, the Reserve Bank said.

They had declined by USD 956.4 million to USD 368.998 billion in the previous reporting week.

The reserves had touched a life-time high of USD 371.99 billion in the week to September 30, 2016.

Foreign currency assets (FCAs), a major component of the overall reserves, surged by USD 881 million to USD 346.248 billion in the reporting week, RBI said.

Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.

Gold reserves remained unchanged at USD 19.869 billion, the apex bank said.

The special drawing rights with the International Monetary Fund was up by USD 3.1 million to USD 1.446 billion.

India's reserve position with the Fund, too, rose by USD 5.3 million to USD 2.323 billion, RBI said.

http://economictimes.indiatimes.com...9-4-mn-to-369-887-bn/articleshow/58299845.cms
 

Dark Lord

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Indian economy is house of cards. All fake numbers from Feku Modi.

in India unemployment is increasing at really high rate. Poor people are dying in streets. No toilets for 40% population.
 

Spectribution

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Indian economy is house of cards. All fake numbers from Feku Modi.

in India unemployment is increasing at really high rate. Poor people are dying in streets. No toilets for 40% population.
Is that a Sand ****** I see talking. You can start by cleaning my toilet and then send your sister up to my bedroom 'shaved' and 'clean'. Last time I found sand in her vagina.
 

Prashant12

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GST to boost GDP by 4.2% or Rs 6.5 lakh crore: Fed Paper

NEW DELHI: India’s changeover to the goods and services tax (GST) has resonated with the Fed: A research note at the US central bank reckons that the biggest indirect tax reforms since Independence could enhance the country’s gross domestic product by up to 4.2%, or Rs 6.5 lakh crore — a sum greater than the central government’s annual borrowing.

Apart of Federal Reserve System’s series of International Financial Discussion Papers (IFDP), the research note says that the potential gains to GDP — one of the most bullish growth estimates on the reform measure to date — will be underpinned by a surge in manufacturing output, something New Delhi has been trying to achieve for a while.

An estimate by economic think tank NCAER had earlier projected an increase of 1-2% in GDP after GST is implemented. “We find that the GST is expected to raise overall Indian welfare, and is projected to be an inclusive policy in that it would be welfare improving for all Indian states,” the paper said. The model suggests that the GST would lead to real GDP gains of 4.2% under the baseline assumptions, driven by a surge in factory production.

Growth is also driven by an increase in both domestic and international trade, it said. The GST is also expected to increase international competitiveness of Indian companies, thus helping the country expand external trade by 32%.



A NOTE OF CAUTION

“As a first order effect, the GST lowers internal trade barriers in this analysis, which improves internal trade by 29%....,” according to the paper authored by Eva Van Leemput and Ellen A Wiencek and published on March 24.

To be sure, the authors sounded a note of caution on placing goods in higher tiers of taxation. “We also find that the distribution of goods across tax rate tiers matters for the growth outlook. As more goods move to the upper tiers, the real GDP and manufacturing output gains would be dampened,” it said.

The rise in internal and external trade is expected to be carried by a surge in manufacturing production of 14%, said the paper. IFDP notes are articles in which Fed Board economists offer their own views and present analyses on a range of topics in economics and finance. In the just concluded Budget session, Indian lawmakers passed the crucial GST legislations, paving the deck for state assemblies to take up the relevant bills.

The GST, which seeks to replace multiple central taxes and state taxes with a single levy, is scheduled to be introduced from July 1.

http://economictimes.indiatimes.com...lakh-crore-fed-paper/articleshow/58306081.cms
 

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