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India is the worlds fastest growing economy and will beat China in 2016

Discussion in 'Indian Defence Industry' started by Averageamerican, Jul 10, 2015.

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  1. Averageamerican

    Averageamerican Colonel ELITE MEMBER

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    Washington: India will be the world's fastest growing major economy for the second consecutive year in 2016 at 7.5 per cent, the International Monetary Fund (IMF) said on Thursday, even as it lowered its global economy growth forecast for the current year to 3.3 per cent.

    In its World Economic Outlook Update released here, IMF retained India's growth projection for current year at 7.5 per cent which will be higher than China's 6.8 per cent. It forecast a growth rate of 7.5 per cent for India in 2016 as well, as against China's 6.3 per cent.

    China was the fastest growing economy in 2014 at 7.4 per cent as against India's 7.3 per cent, IMF data showed.

    IMF's growth projection for India, however, is lower than the estimates of the Finance Ministry and the Reserve Bank of India. The Finance Ministry expects GDP growth to be 8-8.5 per cent in 2015-16, while the Reserve Bank of India has estimated it at 7.6 per cent.

    For India, IMF follows data for fiscal year ending March whereas for other countries, it considers the December-ending periods.

    In case of both India and China, IMF has retained the projection made earlier in April, while it has lowered global growth forecast from 3.5 per cent to 3.3 per cent for 2015.

    The global growth projection for 2016 has been retained at 3.8 per cent.

    "Global growth is projected at 3.3 per cent in 2015, marginally lower than in 2014, with a gradual pickup in advanced economies and a slowdown in emerging market and developing economies. In 2016, growth is expected to strengthen to 3.8 per cent," the report said.

    In emerging market economies, it said, the continued growth slowdown reflects several factors, including lower commodity prices and tighter external financial conditions, structural bottlenecks, rebalancing in China and economic distress related to geopolitical factors.

    A rebound in activity in a number of distressed economies is expected to result in a pickup in growth in 2016.

    Growth in emerging market and developing economies has been estimated at 4.2 per cent in 2015, down 0.1 per cent from the projection made April.
     
  2. INDIAN NATIONALIST

    INDIAN NATIONALIST Major SENIOR MEMBER

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    Great prediction, but China over the last few decades has managed to pull well ahead in terms of overall state of development of its society.

    I would like for GoI to maximize participation in primary and secondary schooling, and to have India partake in international standardized testing so to identify and ultimately resolve any deficits between the predicted competence of our future citizens and that of other nations. I'd speculate that these metrics would make the most convincing case that the development gap for our people and foreign societies will be bridged, which is an end in itself.
     
    Last edited: Jul 10, 2015
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  3. The Drdo Guy

    The Drdo Guy Captain SENIOR MEMBER

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    Modi Magic,i would just say.. Pro khangrassi's and AAPTARDS are welcome to comment on this....
     
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  4. TSUNAMI

    TSUNAMI Captain SENIOR MEMBER

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    They will go in denial mode.
     
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  5. vstol jockey

    vstol jockey Colonel MILITARY STRATEGIST

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    They must be waiting for their media cell to send them the material and they will post about 20-30 things and run away without explaining anything. The whole MSM is quiet today while DTC retired employees have not been paid their pension since Apr 2015. DTC comes directly under Khujli and not under BJP controlled MCD. He has money of 526crores for presstitutes but has no money for the pension of employees of DTC for whom this pension is the only source of survival after retirement. So much for his concern about senior citizens and women of Delhi.
     
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