Source: http://ift.tt/eKERsB - Friday, February 27, 2015
New Delhi (AFP) - Prime Minister Narendra Modi's right-wing government will unveil its first full budget on Saturday, a day after announcing the time was ripe for long-awaited reforms to kickstart the economy. Modi swept to power last year on a pledge to revive India's flagging economic fortunes and provide jobs for its rapidly growing population of over 1.2 billion. But he has been criticised for failing to push through the concrete reforms experts say India needs if it is to attract much-needed foreign investment. On Friday, his government forecast India's growth would exceed eight percent in the next financial year, leaping from around five percent for the past two years and overtaking China to become the world's fastest-growing major economy. This "gives an opportunity to the increasingly young, middle-class and aspirational India to realise its full potential," the government said in a statement on the India Economic Survey, an annual report prepared by the finance ministry. "It appears that India has reached a sweet spot and that there is a scope for big bang reforms now." The apparent turnaround was due partly to a change in the way the data is calculated, but economists say low oil prices and reduced inflation have given India a genuine growth boost. Finance Minister Arun Jaitley is expected to increase spending on the country's underfunded transport network and dilapidated power infrastructure as part of Modi's plans to
from Top News on RSS Feeds http://ift.tt/1Bp0DqV
New Delhi (AFP) - Prime Minister Narendra Modi's right-wing government will unveil its first full budget on Saturday, a day after announcing the time was ripe for long-awaited reforms to kickstart the economy. Modi swept to power last year on a pledge to revive India's flagging economic fortunes and provide jobs for its rapidly growing population of over 1.2 billion. But he has been criticised for failing to push through the concrete reforms experts say India needs if it is to attract much-needed foreign investment. On Friday, his government forecast India's growth would exceed eight percent in the next financial year, leaping from around five percent for the past two years and overtaking China to become the world's fastest-growing major economy. This "gives an opportunity to the increasingly young, middle-class and aspirational India to realise its full potential," the government said in a statement on the India Economic Survey, an annual report prepared by the finance ministry. "It appears that India has reached a sweet spot and that there is a scope for big bang reforms now." The apparent turnaround was due partly to a change in the way the data is calculated, but economists say low oil prices and reduced inflation have given India a genuine growth boost. Finance Minister Arun Jaitley is expected to increase spending on the country's underfunded transport network and dilapidated power infrastructure as part of Modi's plans tofrom Top News on RSS Feeds http://ift.tt/1Bp0DqV
Aucun commentaire:
Enregistrer un commentaire