The antagonistic political environment is weakening global and national institutions, lowering the shock-absorption capacity of sovereigns with high debt burdens and low fiscal buffers, it said.
The PMI data for October showed a continuation of manufacturing sector weakness in India, "with sales growth softening to the slowest in two years", said Pollyanna De Lima, Principal Economist at IHS Markit.
“We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline,” Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
The International Monetary Fund on Thursday said though India has worked on the fundamentals of its economy, there are problems, including the long-term drivers of growth, that need to be addressed.
In the previous fortnight to August 16, advances grew 11.64 percent to Rs 96.82 lakh crore and deposits by 10.15 percent to Rs 126.80 lakh crore.
Factory output, as measured in terms of Index of Industrial Production (IIP), had expanded 6.5 per cent in July 2018.
"The computer services industry in India is increasingly catering to the domestic market, leveraging expertise gained from exporting while at the same time reducing an over-reliance on such exports," the report said.
Growth of eight core industries dropped to 2.1 per cent in July, mainly due to contraction in coal, crude oil and natural gas production, according to a government data released on Monday.
Following are the top business stories of Friday, August 23. Nirmala Sitharaman's much-awaited announcement on FPI surcharge is finally here along with some good news for Auto sector that was witnessing its worst crisis in decades. IndiaTvNews.com brings to you the business news round-up of the day.
He said the GIS is critical to many of 41 focus areas identified by the Niti Aayog and several government departments are applying it to solve problems in mapping, forestry, water resources, smart cities.
The focus of the second term of the Narendra Modi government is accelerated economic growth led by the private sector and private enterprise, according to NITI Aayog Vice Chairman Rajiv Kumar who asserted that India will be at the "cusp of a major transformation" over the next five years.
The incident occurred last year and the pilot has now challenged in the Delhi High Court the DGCA and Civil Aviation Ministry's decisions to suspend him.
It said that while the middle-class tax relief will weigh somewhat on direct tax revenues, GST collections will continue to pose risks to indirect tax collections if they fall short of budgeted expectations.
US President Donald Trump cheered the numbers, holding an impromptu press conference outside the White House to tout the "amazing" growth and said "this is just the beginning".
The company's global IT services business contributed Rs 13,700 crore, registering 5.2 per cent annual and 2.2 per cent sequentially growth.
The economy grew at the highest rate since September quarter of FY17, ahead of the demonetisation drive that began in November 2016.
The size of India's music industry which stood at Rs 1,080 crore in 2015 is expected to grow to Rs 2,060 crore by 2020.
India’s GDP growth for 2016-17 will get a 50 basis points push to 7.6 per cent following the recent revision in the base year for the Wholesale Price Index (WPI) and the Index of Industrial Production (IIP), former Chief Statistician Pronab Sen said
The Goods and Services Tax to be implemented from July 1 would help raise India's medium-term growth to above eight per cent, the International Monetary Fund has said.
Cutting India’s growth rate by one percentage point due to the "temporary negative consumption shock" of demonetisation, the International Monetary Fund (IMF) predicted it to be 6.6 per cent for the current fiscal year.
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