UK High Court denies bail to Nirav Modi

New Delhi, Jan 20: Surging inflation and slowing growth are raising serious concerns about the future growth prospects of the economy and as a remedial measure the government should resolve supply-side hurdles and ensure more stringent governance norms, a report said on Monday.

According to the Dun and Bradstreet Economy forecast, even though the Index of Industrial Production (IIP) turned positive in November 2019, it is likely to remain subdued.

"Slowdown in consumption and investment along with high inflationary pressures, geopolitical issues and uncertainty over the recovery of the economic growth are likely to keep IIP subdued," the report noted.

Dun and Bradstreet expect IIP to remain around 1.5-2.0 percent during December 2019.

As per government data, industrial output grew 1.8 percent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.

On the price front, uneven rainfall along with floods in many states and geopolitical issues have led to a surge in headline inflation even as demand remains muted.

The Consumer Price Index (CPI) in December rose to about five-and-half year high of 7.35 percent from 5.54 percent in November, mainly driven by high vegetable prices.

"The sharp rise in inflation has constrained monetary policy stimulus while revenue shortfall has placed limits on the government expenditure," Dun & Bradstreet India Chief Economist Arun Singh said.

According to Singh, growth-supporting measures and deceleration in growth are likely to cause slippage in fiscal deficit target by a wider margin.

"The government should focus on taking small steps to address the slowdown; in particular, resolve the supply-side hurdles and ensure more stringent governance norms," Singh said.

Unless these concerns are addressed through a comprehensive policy framework, it will not be easy for India to clock a sustainable growth rate to become a USD 5 trillion economy, he added.

Kathmandu, June 18: Nepal's National Assembly on Thursday unanimously passed the Constitution Amendment Bill to update the country's political and administrative map incorporating three Indian territories. 

The new map also includes land controlled by India. It requires President Bidhya Devi Bhandari's approval.

India, which controls the region - a slice of land including Limpiyadhura, Lipulekh and Kalapani areas in the northwest - has rejected the map, saying it is not based on historical facts or evidence.

India has termed as untenable the "artificial enlargement" of territorial claims by Nepal after its lower house of parliament on Saturday unanimously approved the new political map of the country featuring areas which India maintains belong to it.

The National Assembly, or the upper house of the Nepalese parliament, unanimously passed the constitution amendment bill providing for inclusion of the country's new political map in its national emblem.

The bill was passed with all the 57 members present voting in its favour.

The dispute

The latest border dispute between the countries began last month after India inaugurated Himalayan link road built in a disputed region that lies at a strategic three-way junction with Tibet and China.

The 80km (50-mile) road, inaugurated by Indian Defence Minister Rajnath Singh, cuts through the Lipulekh Himalayan pass, considered one of the shortest and most feasible trade routes between India and China.

The road cuts the travel time and distance from India to Tibet's Mansarovar lake, considered holy by the Hindus.

But Nepal says about 19km of the road passes through its area and fiercely contested the inauguration of the road, viewing the alleged incursion as a stark example of bullying by its much larger neighbour.

Nepal, which was never under colonial rule, has long claimed the areas of Limpiyadhura, Kalapani and Lipulekh under the 1816 Sugauli treaty with the British East India Company, although these areas have remained under the control of Indian troops since India fought a war with China in 1962.

New Delhi, Jan 21: With the IMF lowering India's economic growth estimate for the current fiscal to 4.8 per cent, senior Congress leader P Chidambaram on Tuesday claimed an attack on the world body and its chief economist Gita Gopinath by government ministers was imminent.

He also alleged that the growth figure of 4.8 per cent given by the International Monetary Fund (IMF) is after some "window dressing" and he won't be surprised if it goes even lower.

"Reality check from IMF. Growth in 2019-20 will be BELOW 5 per cent at 4.8 per cent," Chidambaram said in a series of tweets.

"Even the 4.8 per cent is after some window dressing. I will not be surprised if it goes even lower," the former finance minister said.

IMF Chief Economist Gopinath was one of the first to denounce demonetisation, he noted.

"I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath," Chidambaram said.

The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.

In October, the IMF had pegged India economic growth at 6.1 per cent for 2019.

Listing decline in rural demand growth and an overall credit sluggishness for lowering of India forecasts, Gopinath, however, had said the growth momentum should improve next year due to factors like positive impact of corporate tax rate reduction.