Tag: Growth

Govt faces flak over drop in GDP growth forecast

As the Indian economy is forecast to grow at its slowest in four years this fiscal (2017-18), Congress chief Rahul Gandhi on Saturday hit out at Prime Minister Narendra Modi and finance minister Arun Jaitley and said that their GDP (Gross Divisive Politics) was affecting the country’s GDP (Gross Domestic Product). In a tweet, the...

January 7, 2018

India Inc expects 2017-18 GDP growth to be above 6.5%

India Inc expects the country’s 2017-18 economic growth to be above the 6.5 per cent-mark due to a favourable base effect. Its reactions came after the estimate of national income for 2017-18, released by the Central Statistics Office (CSO), showed that implementation of GST and subsequent slowdown in the manufacturing sector was expected to drag...

January 6, 2018

Facilitating communication and growth

To nearly all of us who have been human resource professionals, a performance appraisal is a systematic process that evaluates an employee’s performance in terms of his productivity with respect to the pre-determined set of objectives. But since appraisals facilitate communication between management and employees, which further helps in conveying the expectations of the management...

December 28, 2017

Indian government’s IT spending to hit $8.5 bn in 2018

Picking up the pace after demonetisation and a drop in industrial production, IT spending in the Indian government sector is projected to reach $8.5 billion in 2018. This is an increase of 8.9 per cent from the 2017 estimated spending of $7.8 billion as software and IT services continue to exhibit strong growth along with...

November 15, 2017

IT spending in India to hit $87.1 bn in 2018

Riding on the wave of digital transformation, the IT spending in India is forecast to hit $87.1 billion in 2018 — an increase of 9.2 per cent from $79.7 billion (estimated) this year, Gartner said on Tuesday. Enterprise software and IT services continue to exhibit strong growth, with devices segment driving the majority of overall...

November 14, 2017

India should aim for quantum jump in agro-processing: Goyal

India should not get satisfied with 10 to 20 per cent growth rate in agro-processing but should aim for a quantum jump to truly improve lives of the country’s farmers, Railways Minister Piyush Goyal said on Sunday. “I think we should not rest on the laurels of numbers. 10 or 20 per cent cent growth...

November 5, 2017

May the farce be with you: Rahul mocks Jaitley’s on growth forecast

Congress Vice President Rahul Gandhi on Wednesday again mocked the government over its growth forecast, terming as a “farce” the Modi government’s statements on its economic performance. Attaching a tweet posted on Tuesday by the Press Information Bureau, the government’s official publicity wing, which said that real GDP growth average was 7.5 per cent in...

October 25, 2017

Economic stimulus not linked to Gujarat: Arun Jaitley

Finance Minister Arun Jaitley rejected attempts to link Monday’s announcement of economic stimulus package to Wednesday’s announcement of Gujarat elections. “This is for the first time structural reforms is being undertaken. It has nothing to do with politics. It is a long-term plan and it has nothing to do with Gujarat elections,” said Jaitley. Jaitley...

October 25, 2017

British economic growth forecast calls for bank rate rise

The British economic growth rate is estimated at a slight increase in comparison with the second quarter, which will bolster the argument for the central bank the Bank of England (BOE) to raise the bank rate, a leading economic think-tank has said. The British economic growth is estimated to expand 0.4 per cent in the...

October 12, 2017

PM Modi’s economic council asks govt to stick to fiscal consolidation

The newly-constituted Economic Advisory Council to the Prime Minister (EAC-PM) held its first meeting here on Wednesday, deciding to focus on 10 areas of interest in a bid to rev up the slowing Indian economy. This panel of economists and experts was recently set up by Prime Minister Narendra Modi in order to find ways and...

October 11, 2017

World Bank lowers India’s growth forecast

India’s GDP may slow from 8.6 per cent in 2015 to 7.0 per cent in 2017 because of disruptions by demonetisation and the GST, the World Bank has forecast and warned that subdued private investment due to internal bottlenecks could put downside pressures on the country’s potential growth. The International Monetary Fund yesterday also lowered...

October 11, 2017

`Reduction in clerical staff hiring in banks is part of a design’

Central government owned banks’ plan to hire 7,883 clerical staff next fiscal is inadequate when compared to the growth in business and the number of accounts, said a top leader of All India Bank Employees’ Association (AIBEA). “This seems to be a part of a design to reduce the intake of clerical staff. Despite growth...

September 27, 2017

Boosting private investment, banks’ growth major concerns: Jaitley

Looking at ways to boost economy amid a slowdown, Finance Minister Arun Jaitley on Friday said that encouraging private investment and improving capacity of banking system to support growth are the two major challenges for which best solutions have to be found. “There are two major challenges – encouraging private sector investment and improving capacity...

September 22, 2017

Yechury hits out at Shah’s comment on dip in India’s GDP growth

CPI-M general secretary Sitaram Yechury criticised BJP national president Amit Shah for his comment on dip in Gross Domestic Product (GDP) and said that Shah and Prime Minister Narendra Modi lack courage to admit the shortcomings of demonetisations. Shah had commented that the drop in GDP growth to 5.7 per cent in the first quarter...

September 21, 2017

‘India FY18 GDP growth likely at 7.1 pc’

India’s GDP growth is expected to be around 7.1 per cent this fiscal following a likely pick up in industrial production as firms resort to ‘restocking’ post GST especially ahead of festive season, says a Nomura report. According to the Japanese financial services major, post-GST restocking is likely to drive a faster pace of industrial...

September 13, 2017

Manufacturing sector must improve for 9-10% GDP: ASSOCHAM-EY

If India has to maintain a sustained gross domestic product (GDP) growth of 9-10 per cent per annum, it is crucial that the manufacturing sector grows steadily at 14-15 per cent per annum over the next three decades, a joint study has said. The joint report by ASSOCHAM-EY stated that while the Goods and Services...

September 12, 2017

Indian economy’s growth slows down in Q1 2017-18 at 5.7%

India’s GDP growth for the first quarter of the current fiscal ended June slowed down to 5.7 per cent, from 6.1 per cent reported for the fourth quarter of 2016-17, official data showed on Thursday. According to data from the Central Statistics Office (CSO), the GDP for Q1 stood at Rs 31.10 lakh crore, or...

August 31, 2017