The World Bank says that a lack of credit and drop in private consumption have led to a gloomy growth outlook for India with a steep cut in growth rate for the current fiscal year and only a modest gain projected for the next year.
India's growth rate is forecast to be only 5 per cent for the current fiscal year, weighed down by a growth of only 4.5 per cent in the July-September quarter, according to the 2020 Global Economic Prospects report released on Wednesday.
"In India, [economic] activity was constrained by insufficient credit availability, as well as by subdued private consumption," the Bank said.
The growth rate is forecast by the Bank to pick up to 5.8 per cent in the next fiscal year and to 6.1 per cent in 2021-22.
India's growth rate was 6.8 per cent in 2018-19.
The 5 per cent growth rate projection for the current financial year is a sharp cut of 2.5 per cent from the 7.5 per cent forecast made by the Bank in January last year, toppling it from the rank of the world's fastest growing economy.
India's performance follows a global trend of lowered growth weighed down by developed economies.
The report estimated world economic growth rate to be only 2.4 per cent last year and forecast it to edge up 0.1 per cent to 2.5 per cent in the current year.
Even with the lower growth rate of 5 per cent in the current fiscal year and 5.8 per cent forecast for the next, India holds the second rank among large economies, behind only China with an estimated growth rate of 6.1 per cent for 2019 and 5.9 per cent this year.
The report blamed "weak confidence, liquidity issues in the financial sector" and "weakness in credit from non-bank financial companies" for India's slowdown.
The Bank predicated India's recovery to 5.8 per cent in the coming financial year for India but "on the monetary policy stance remaining accommodative" and the assumption that "the stimulative fiscal and structural measures already taken will begin to pay off."
It also warned that sharper-than-expected slowdown in major external markets such as United States and Europe, would affect South Asia through trade, financial, and confidence channels, especially for countries with strong trade links to these economies."
The Bank said that the growth of advanced economies was 1.6 per cent last year and "is anticipated to slip to 1.4 per cent in 2020 in part due to continued softness in manufacturing."
In contrast the growth of emerging market and developing countries is expected to accelerate from 3.5 per cent last year to 4.1 per cent this year, the report said.
In South Asia, Bangladesh is estimated to have the highest growth rate of 7.2 per cent in the current fiscal year, although down from 8.1 per cent last fiscal year.
But its higher regional growth rates are coming off a lower base with a per capital gross domestic product of $1,698 compared to $2,010 for India.
Bangladesh is expected to grow by 7.3 per cent in the next financial year.
Pakistan's growth rate is estimated at only 2.4 per cent in the current fiscal year and is projected to rise to 3 per cent in the next, according to the Bank.
The Bank blamed monetary tightening in Pakistan for a sharp deceleration in fixed investment and a considerable softening in private consumption for the fall in growth rate from 3.3 per cent in the 2018-19 fiscal year.
Sri Lanka's growth rate was estimated to be 2.7 per cent last year and forecast to grow to 3.3 per cent this year.
Nepal grew by an estimated 6.4 per cent in the current fiscal year and will rise to 6.5 per cent in the next.
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Who is RAMA ?
Answer : he the king of ayodhya.
is he human being
Answer : yes.
how come an human being can become GOD.
my dear hindu brother, please understant the concept of GOD,
rama cannot save sita from kidnapping then how he will save you??
rama need army to capture ravana then how he will become GOD.
Rama born and died, so you think GOD also born & die.
if there is so many gods then there is no justic...same as indian political party one want to pull the leg of other to get power..
Who is GOD ?
The Most Concise Definition of God:
The most concise definition of God in Islam is given in the four verses of Surah Ikhlas which is Chapter 112 of the Qur’an:
"Say: He is Allah,
The One and Only.
"Allah, the Eternal, Absolute.
"He begets not, nor is He begotten.
And there is none like unto Him."
What does Islam say about ‘god-men’?
India is often called the land of ‘god-men’. This is due to the abundance of so-called spiritual masters in India. Many of these ‘babas’ and ‘saints’ have a large following in many countries. Islam abhors deification of any human being. To understand the Islamic stand towards such pretenders to divinity, let us analyze one such ‘god-man’, Osho Rajneesh or RAMA.
Let us put this candidate, ‘Bhagwan’ Rajneesh, to the test of Surah Ikhlas, the touchstone of theology:
i) The first criterion is "Say, He is Allah, one and only". Is Rajneesh one and only? No! Rajneesh was one among the multitude of ‘spiritual teachers’ produced by India. Some disciples of Rajneesh might still hold that Rajneesh is one and only.
ii) The second criterion is, ‘Allah is absolute and eternal’. We know from Rajneesh’s biography that he was suffering from diabetes, asthma, and chronic backache. He alleged that the U.S. Government gave him slow poison in prison. Imagine Almighty God being poisoned! Rajneesh was thus, neither absolute nor eternal.
iii) The third criterion is ‘He begets not, nor is He begotten’. We know that Rajneesh was born in Jabalpur in India and had a mother as well as a father who later became his disciples.
God does not become a human being:
God does not take human form:
Some may argue that God does not become a human being but only takes a human form. If God only takes a human form but does not become a human being, He should not possess any human qualities. We know that all the ‘God-men’, have human qualities and failings. They have all the human needs such as the need to eat, sleep, etc.
The worship of God in human form is therefore a logical fallacy and should be abhorred in all its forms and manifestations.
That is the reason why the Qur’an speaks against all forms of anthropomorphism. The Glorious Qur’an says in the following verse:
"There is nothing whatever like unto Him."
GOD is beautiful, GOD is Merciful, GOD is Loving his creation based on his good deeds.
GOD want human being to live in this earth happly and cooperate each other in bad time.
one important thing GOD want that he want him to worship alone. he is supreme
dont add idol, photo, animal, stone, humans, sun, star etc.
all belong to HIM.
hope you will find the truth before you die!!!
Dear Advocate Sir,
Saying is not enough sir, All courts need concrete evedence to prove and to discharge the verdict.
Please provide the concrete evidence to get the verdict in favor.
We ask advocate Vaidyanathan to respect his post and constitution by not giving incorrect statement. We ask him the base he say that babri masjid was constructed by razing temple. Where is the proof. He is throwing ball in darkness. He is betraying his oath taken while receiving lawyer certificate that he will say truth only. Dear Vaidyanathan, please dont misguide the court and show the evidence. How about the home you are staying. What will be your response if I say that it was constructed demolishing church or gurudwara or masjid.
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