Tag Archives: economy

India To Become $5 Trillion Economy In 8-9 years: Suresh Prabhu

Manufacturing sector contributes 20 percent to India’s economy. (Representational) NEW DELHI: Commerce and Industries Minister Suresh Prabhu today said India is expected to become a $ 5 trillion economy in the next 8-9 years with the manufacturing sector contributing 20 per cent to that. “India is going to be $5 trillion economy in 8-9 years. $1 trillion will come from ... Read More »

H-1B Visa Holders Drive Innovation, Help Build US Economy: American Lawmakers

Hundreds of thousands of Indians on H-1B visas drive innovation, build and strengthen the US economy WASHINGTON:  Asserting that H-1B visa holders drive innovation and help build and strengthen the American economy, top US lawmakers today backed the Trump administration’s decision that it was not considering any proposal which would force such people to leave the country. “H-1B visa holders, many ... Read More »

Economy on revival mode amid sprouts of green shoots in many sectors; all eyes on FY18 GDP estimates on Friday

How do you spot an economic revival? The earliest signs are visible on the highways. Are there more lorries on expressways ferrying goods across states? Latest data show truck sales grew at a robust pace in December, a sign that transport companies are buying more vehicles to rapidly move goods to meet growing consumer demand. Sample this. Homegrown auto major ... Read More »

Commentary: The ‘Bomb Cyclone’ Could Bomb This Region’s Economy

The 2018 “bomb cyclone” won’t necessarily have the strongest impact on the Northeast U.S., as has been suggested in the media. Instead, the deepest consequences will be felt down map, where wearing heavy gloves and snow boots is not business as usual. The first days of 2018 brought the first snowfall to Louisiana’s Gulf Coast and areas of Florida in 30 years. Of course, ... Read More »

Economy looking up, says Jaitley

The minister assured the members that a positive impact of the reforms like GST and demonetisation would get reflected in the medium to long term. Union Finance Minister Arun Jaitley said in the Rajya Sabha on Thursday that key economic indicators were showing an upward swing. Mr. Jaitley assured the members that a positive impact of the bold reforms like the Goods ... Read More »

China’s new consumption-driven economy isn’t what it seems

Are Chinese consumers really spending heavily? Data suggests it is the rich who are consuming, not the masses. (Photo by Akira Kodaka) BEIJING — China’s transition to an economy driven by consumption, rather than investment, is complete — at least according to the National Bureau of Statistics. Mao Shengyong, a bureau spokesman, on Dec. 14 told reporters that while investment ... Read More »

China to overtake US economy by 2032 as Asian might builds: report

The growing importance of Asia’s major economies will continue in 2018 and beyond, according to a league table that sees the region dominating in terms of size in just over a decade. The report by the Centre for Economics and Business Research in London sees India leapfrogging the UK and France next year to become the world’s fifth-biggest economy in dollar ... Read More »

Economy is different from politics

Planning for Economic Recovery and Growth: How Far So Far? One of the key mandates of Federal Ministry of Budget and National Planning is to render policy advice to Federal Government on national development and national plans. The ministry is expected to advise government in all aspects of national development and design national plans in form of long, medium and ... Read More »

India passing through fast formalisation of economy, says Arun Jaitley

Finance minister Arun Jaitley on Friday said India is at present passing through a stage that will in future be recognised as a phase of fast formalisation of the economy. Speaking at a State Bank of India (SBI) event here, he said India is seeing “the replacement of a cash dominated economy with a more formal and digitised economy. One ... Read More »

20 More Platforms for Workers in the Gig Economy

The gig economy has been defined as part-time, temporary and freelance jobs. And though it might sound like the kind of thing that would most interest college students on summer break, it is projected half of the working U.S. population will move into the gig economy within the next five years. The stats are pretty much the same globally where the digital ... Read More »