The decision was taken following the BJP's parliamentary board meeting attended by party president Rajnath Singh and senior leader L.K. Advani among others.
New Delhi, Feb 18: India emerged as the world's fifth-largest economy by overtaking the UK and France in 2019, says a report.
A US-based think tank World Population Review in its report said that India is developing into an open-market economy from its previous autarkic policies.
"India's economy is the fifth-largest in the world with a GDP of $2.94 trillion, overtaking the UK and France in 2019 to take the fifth spot," it said.
The size of the UK economy is $2.83 trillion and that of France is $2.71 trillion.
The report further said that in purchasing power parity (PPP) terms, India's GDP (PPP) is $10.51 trillion, exceeding that of Japan and Germany. Due to India's high population, India's GDP per capita is $2,170 (for comparison, the US is $62,794).
India's real GDP growth, however, it said is expected to weaken for the third straight year from 7.5 per cent to 5 per cent.
The report observed that India's economic liberalisation began in the early 1990s and included industrial deregulation, reduced control on foreign trade and investment, and privatisation of state-owned enterprises.
"These measures have helped India accelerate economic growth," it said.
India's service sector is the fast-growing sector in the world accounting for 60 per cent of the economy and 28 per of employment, the report said, adding that manufacturing and agriculture are two other significant sectors of the economy.
The US-based World Population Review is an independent organisation without any political affiliations.
Washington, Feb 12: US President Donald Trump said on Tuesday he would sign a trade deal with Prime Minister Narendra Modi if 'it was the right one'.
The two countries have been trying to reach a limited trade pact with lower tariffs, but talks have run into problems over issues with data privacy and e-commerce controls.
Trump further said that he is looking forward to his visit to India later this month where millions of people would welcome him. "He (Modi) is a great gentleman and I look forward to going to India. So, we'll be going at the end of the month," Trump told reporters in his Oval Office, a day after the White House announced dates of his anticipated India trip.
Responding to a question, the president indicated that he is willing to sign a trade deal with India if it is the right one. "They (Indians) want to do something and we'll see... if we can make the right deal, (we) will do it," said Trump, a fortnight ahead of his visit to the country as the 45th US president.
India's new Ambassador to the US, Taranjit Singh Sandhu told PTI that Trump's forthcoming visit is a "reflection of the strong personal rapport" between Trump and Modi. "It also demonstrates their strong desire to take the relationship to new heights," said Sandhu, who had presented his credentials to Trump in Oval Office last week.
Over the last three years, Trump and Modi have developed a personal friendship and in 2019, the duo met four times including their joint address before a strong 50,000 crowd of Indian Americans in Houston.
This year, they have spoken over the phone on two occasions, including the one over the weekend. "Just spoke with Prime Minister Modi," Trump told reporters on Tuesday in response to a question on his India visit.
Excited to travel to India later this month, said Trump referring to his conversation with Modi during which the prime minister apparently told him about the hundreds and thousands of Indians who would be there to welcome him in Ahmedabad.
Trump jokingly told reporters that now he will "not feel good" about the size of the crowd that he addresses in the US which is usually between 40,000 to 50,000. "He (Modi) said we will have millions and millions of people. My only problem is that last night we probably had 40 or 50,000 people... I'm not going to feel so good... There will be five to seven million people just from the airport to the new stadium (in Ahmedabad)," Trump said.
"And you know (it) is the largest stadium in the world. He's (Modi) building it now. It's almost complete and it's the largest in the world," Trump said. The two leaders are expected to joint address a massive public rally at the newly build Motera Stadium in Ahmedabad.
Being built at an estimated cost of USD 100 million, the Motera Stadium with a seating capacity of 100,000 spectators will be the world's largest cricket stadium overtaking the Melbourne Cricket Ground in Australia.
Waste of money and time.....!!!
New Delhi, Jan 27: The government on Monday issued the preliminary information memorandum for 100 per cent stake sale in national carrier Air India. As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as per the bid document issued on Monday.
Management control of the airline would also be transferred to the successful bidder.
The government has set March 17 as the deadline for submitting the Expression of Interest (EoI).
EY is the transaction adviser for Air India disinvestment process.
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