IMF lowers India's growth forecast over demonetisation, GST

Agencies
October 10, 2017

Washington, Oct 10: The IMF today lowered India's growth projection to 6.7 per cent in 2017, 0.5 percentage points less than its previous two forecasts and slower than China's 6.8 per cent, attributing it to demonetisation and introduction of the GST.

The International Monetary Fund (IMF) raised its current year growth forecast for China to 6.8 per cent, 0.1 percentage more than its two previous projections in April and July -- pushing the Communist giant above India at the top of the global growth tally.

It also lowered India's growth for 2018 to 7.4 per cent, 0.3 percentage points less than its previous two projections in July and April. India's growth rate in 2016 was 7.1 per cent, which saw an upward revision of 0.3 percentage points from its April report.

"In India, growth momentum slowed, reflecting the lingering impact of the authorities' currency exchange initiative as well as uncertainty related to the midyear introduction of the country-wide Goods and Services Tax," the IMF said in its latest World Economic Outlook report.

"Strong government spending and data revisions in India led to an upward revision of 2016 growth to 7.1 per cent (6.8 per cent in April), with upward revisions of about 0.2 percentage point, on average, for 2014 and 2015," it said.

The latest report, released ahead of the annual meetings of the IMF and the World Bank here this week, puts China slightly ahead of India in terms of growth rate for the year 2017.

However, India is likely to regain the tag of the fastest growth emerging economies of the world in 2018, with China projected to grow at 6.5 per cent in 2018, it said.

The GST, which promises the unification of India's vast domestic market, is among several key structural reforms under implementation that are expected to help push growth above eight per cent in the medium term, the report said.

"In India, simplifying and easing labour market regulations and land acquisition procedures are long-standing requirements for improving the business climate," the report said.

Between 1999 and 2008, India on an average grew at a rate of 6.9 per cent, the IMF said, adding that for the next three years its growth rates were 8.5 per cent in 2009, 10.3 in 2010 and 6.6 in 2011.

In the years 2012, 2013 and 2014 it grew at a rate of 5.5 percentage, 6.4 and 7.5 respectively. In 2015, India clocked a growth rate of 8 percentage points.

For the year 2022, the IMF has projected a growth rate of 8.2 per cent, as against its growth projection of 6.7 in 2017 and 7.4 in 2018.

The Goods and Services Tax (GST) was implemented in India from July 1 this year. It brings the economy under a uniform tax regime.

The Indian government scrapped Rs 500 and Rs 1,000 currency notes on November 8 last year, claiming that the move would eradicate black money, fake currency and corruption.

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Agencies
January 12,2020

Washington, Jan 12: The US State Department has described the recent visit of envoys of 15 countries to Jammu and Kashmir as an "important step" but expressed concern over the continued detention of political leaders and restrictions on internet in the region.

Alice Wells, the Acting Assistant Secretary of State for South Asia, tweeted on Saturday that she was "closely following" the visit of the envoys to Kashmir, describing it an "important step".

Wells, who will be visiting India this week, added: "We remain concerned by detention of political leaders and residents and Internet restrictions. We look forward to a return to normalcy."

The group of diplomats made a two-day visit to the Union Territory on Thursday and Friday to see the conditions thereafter Jammu and Kashmir's special constitutional status was removed last August.

While some US politicians and media have criticised the action by Prime Minister Narendra Modi's government, the US has officially appeared to support the abrogation of the Constitution's Article 370 on the special status.

Last October, Wells told the House of Representatives Subcommittee on Asia and the Pacific that the State Department supported the objectives behind it, while not directly mentioning the abrogation.

"The Indian government has argued that its decision on Article 370 was driven by a desire to increase economic development, reduce corruption, and uniformly apply all national laws in Jammu and Kashmir, particularly in regard to women and minorities.

"While we support these objectives, the Department remains concerned about the situation in the Kashmir Valley, where daily life for the nearly eight million residents has been severely impacted since August 5," she had said.

Washington has banked on India's democratic institutions - the judiciary and public debates - being able to steer the country.

Bearing this out, the Supreme Court last week ordered the government to review its decision to shut down the internet in Kashmir, which it declared was a fundamental right, thus taking a step to address Wells's concern.

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News Network
February 21,2020

Washington, Feb 21: US President Donald Trump has made yet another tall claim about the size of the crowd that will welcome him in Ahmedabad, saying Prime Minister Narendra Modi has told him that there will 10 million(1 crore) people to greet him on his arrival for his maiden visit to India.

President Trump and First Lady Melania are scheduled to travel to Ahmedabad, Agra and New Delhi on February 24 and 25.

Speaking to reporters at the Joint Base Andrews in Maryland on Tuesday, Trump said that Modi told him that "we'll have 7 million people between the airport and the event."

"So it's going to be very exciting. But he says between the stadium and the airport, we'll have about 7 million people. So it's going to be very exciting. I hope you all enjoy it," he said.

On Thursday, Trump upped the crowd size by three million at a 'Keep America Great' rally in Colorado.

"I hear, they are going to have 10 million people. They say anywhere from six to 10 million people are going to be showing up along the route to one of the largest stadiums in the world, the largest cricket stadium in the world, which is brand new and beautiful," said Trump, who is seeking reelection in the November presidential polls.

But according to a top civic official in Ahmedabad, the total population of the city is only around 70 lakh.

The authorities believe that between one to two lakh people are expected to line up along the 22-km route of the road show by Modi and Trump from the airport to the Motera cricket stadium, said to be the world's largest.

"We believe that around one to two lakh people will gather to welcome the dignitaries during the road show," Ahmedabad Municipal Commissioner Vijay Nehra said on Thursday, contradicting the claims made by the US President.

As per the road show route plan, Trump and Modi will first reach the Sabarmati Ashram, a place closely associated with Mahatma Gandhi, from Ahmedabad airport.

Addressing his supporters, Trump spoke about his India visit and said the "Namaste Trump" rally in Ahmedabad would spoil him.

"Prime Minister Modi said, we will have 10 million people greet you. Here's my problem. We have a packed house. We have a lot of people, thousands of people that couldn't get in. It's going to look like peanuts from now on," he said.

"I'll never be satisfied with the crowd. If we have 10 million people in India, how can I be satisfied when we fill up like a 60,000-seat stadium? I am getting spoiled," Trump said.

One of Trump's supporters from the audience then suggested that he build a bigger stadium.

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coastaldigest.com news network
January 15,2020

Mangaluru, Jan 15: The coastal city of Mangaluru witnessed a historic event as a sea of humanity converged at the Shah Gardan Maidan in Adyar-Kannur to register their protest against the Citizenship (Amendment) Act (CAA), National Register of Citizens (NRC) and National Population Register (NPR) besides the “categorical mistreatment” of Muslim community at the hands of the police across the country including in Mangaluru.

The protest is jointly being organised by the various Muslim organisations of Dakshina Kannada and Udupi district under the leadership of Muslim Central Committee. 

The main staged is named after Shaheed Jaleel Kudroli and Shaheed Nausheen, who were ruthlessly gunned down by the police during a chaos that erupted on December 19 in the city due to police batten charge against people during a minor protest against NRC. 

Even thought the police had banned public transport and blocked the highway to reduce the number of protesters, around one-and-a-half lakh people had reached the venue when the historic meeting commenced at 2:30 p.m. By 4 p.m. the number of protesters crossed 2 lakh, according to the organisers.

Both sides of the highway were filled with those who came to witness the rally and traffic went haywire along a five-kilometre stretch of the road. The people who took part in the rally were seen waving national flags.

The protest rally was inaugurated by Udupi Khazi Bekal Ibrahim Musliyar. Dua was offered by Dakshina Kannada Khazi Twaka Ahmed Musliyar. 

Addressing the protesters, former IAS officer and activist Kannan Gopinathan alleged that the Centre wants to create fear among all sections of people and silence them. Society began to protest when the government crossed the limits and put curbs on democratic freedom, he claimed.

The Centre thought that they can get away with CAA and NRC. However, people have realised the truth and have started coming out onto the streets, Gopinathan added.

Activist Harsh Mander said the theme of the protest against the CAA and NRC is "national flag in one hand, Constitution is another and people will march forward with love in their hearts”.

“The fight against NRC is the fight for the protection of our Constitution. The BJP is using NRC as a weapon to divide the people after Article 370 and Ram Mandir construction," he said and warned the Centre: “The more you try to divide us, the stronger and united we’ll be”

Human rights activist Shivasundar said the "chowkidar" appointed by the people is now asking them whether they are the real owners of their houses.

The BJP only delivered hollow promises which is evident from the rising unemployment, fall in GDP, farmers suicides and the economic slowdown, he alleged.

MLA UT Khader, MLC BM Farooq, former MLA Mohiyuddin Bava, Muslim central committee president KS Mohammed Masood, Ullal Qazi Fazal Koyamma Tangal, Dakshina Kannada district Wakf committee president UK Monu Kanachur, Sunni Youth Federation state general secretary Abdul Rashid Zaini and Karnataka Samastha Mushavara state secretary UK Abdul Aziz Darimi were present among others.

Also Read: 

#MangaluruAgainstNRC | Undeclared bandh in parts of Dakshina Kannada

‘Who are you? Are you British?’ PFI leader lambasts Mangaluru top cop at anti-NRC protest

Comments

wilfred
 - 
Friday, 17 Jan 2020

useless protest , Modi is not manmohan singh , amit shah is not chidambaram .. they are trained RSS men and once RSS men decide they wont go back .jihadists must understand that they cannot win globe with their mentality , thats why you guys flood christain countries in the name of prosecution and believe only population explosion can achieve your dream of darool uloom .ummah is a total flop and islamic countries are just even unable to face israel , forget about others . as per my observation , hindus were secular before , but nowadays in large no they are quitting this kind of secularism .even 10% of hindus become radicalised then it will be big probelm for anti india forces .muslim organisations are totally misleading muslim community in the name of CAA

 

 

You people made it!, Congratulations-Mangalore
 

I am extremely happy with the grand Success of Adyar kannur Mangalore NRC, CAB, NPR protest on January 15, 2020

It is a Unbelievable turn out. Mangalore people have made history. Alhamdulillah.
It is heartening to see the hard work, dedication and effort put by the leaders & there team to organize this function and bring in to its complete success and spirit. It’s an incredible achievement for Muslim central committee & its other 30 + supportive organizations. Which managed to accomplish so many tasks to its utmost goal set, and In sah Allah all there forthcoming projects will be a complete success. With immense pleasure I congratulate for the commanding leadership .innovative ideas, hard work, sincerity, dedication towards the community causes is highly appreciable

• My heartfelt thanks to the head of all Organizations, members and Volunteers without whose contribution it wouldn’t have achieved this task. The people of our Society have, time and again placed their trust and confidence in the basic values of Humanity. This has shown in the kind of Wishes shown by people from all walks of life. It is very pleasant to see, how Community has responded for a cause
• We the civil society assure our community members that we shall do our best of best to address the problems that society is facing.

 

Vande mataram  RSS chaddil muutaram...they sang like that...

just one call all muslim comes under one banner....what ever law you bring

 

 

Indian
 - 
Wednesday, 15 Jan 2020

Ma Sha Allah. may allah give success.aameen

Saudi
 - 
Wednesday, 15 Jan 2020

Did they sing Vande Mataram???

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