Prime Minister Narendra Modi and other BJP leaders have often spoken about the goal of turning India into a USD 5 trillion economy by 2024.
Sales in the residential property market fell 13 per cent to 2,63,294 units during the first nine months of this fiscal as against 228,220 units in the corresponding period of the previous year.
As the US-Iran tension ebbed and flowed, the market reaction was dramatic. What should you do in such a panic situation? Make your hay!
Despite a host of year-end discounts on passenger vehicles (PVs), its sales declined 1.2 per cent to 235,786 units in December, according to the data released by SIAM.
Muthuraman, vice chairman of Tata Steel said that the current slowdown may help in the long run.
Finance Minister Nirmala Sitharaman was conspicuous by her absence in the Thursday meeting held at the Niti Aayog.
The only consolation seems to be that the second half performance of 5.2% growth is better than the first half, which was a dismal 4.8%.
Another demand raised by the industry body is for reducing the GST on medical devices from 12 per cent to 5 per cent, the statement said.
The government is keen to improve business sentiments, get industrialists to loosen purse strings and invest and hopefully create jobs.
The Defence Minister assured the traders that the government will soon overcome the problems arising out of the current economic situation of growth slowdown.
The fiscal decisions of the government have not yielded the desired results, Rajya Sabha MP Subramanian Swamy said.
People who have been affected, and those who fear they are next in line, are not happy with the government’s handling of the situation.
It further said that India is also set to reach a GDP of USD 5 trillion by 2026, two years later than the government's target.
Economists are projecting growth to settle somewhere between 6 and 6.5 per cent in FY21, but none dare to go near the 7 per cent mark, last seen in FY18.
The World Bank arm’s advice is that India should avoid fiscal stimulus and instead generate revenue for its development needs by slashing debt.