US investment banker Morgan Stanley said on Thursday that lower return expectations from the Indian stock market is due to persistent growth disappointment of past few years, signalling low investor confidence in the nation's growth story.
The ADB's growth projection of 7.3 per cent this fiscal is in line with that of rating agency Fitch, but a tad lower than RBI's forecast of 7.4 per cent.
According to the data released by the Finance Ministry on Monday, 6.84 crore returns were filed during 2017-18, significantly higher than 5.43 crore filed in the previous fiscal.
"We are growing decently as an economy, but we are not creating jobs because those who have skills aren't getting access to finance and support," Gandhi said.
"The BJP-led government messed up the Indian economy. The ill-considered demonetisation and hastily implemented GST have destroyed small scale enterprises," he said.
Calling this development a "welcome change", an IMF official said the growth prospects remain positive.
The 3rd quarter growth of 7.2% was highest in 5 quarters. The previous high was recorded at 7.5% in the July-September quarter of 2016-17. In the first quarter of the current fiscal, the GDP grew at 5.7%, while the second quarter growth stood at 6.5%
Pranab Mukherjee, however, said that to sustain such a growth rate for the longer term, the country will need to address issues like employability for the youth and boosting the rural economy.
With this, India has reclaimed the status of fastest-growing major economy in the world, surpassing China which grew by 6.8% in the October-December period.
Indian economy grew at 7.2 per cent in October-December quarter of the current fiscal, official data released by the Central Statistics Office (CSO) showed today.
Official data released by the Comptroller General of Accounts (CGA) today showed that during April-January, the capital expenditure during the period stood at Rs 2.64 lakh crore.
Chidambaram, who served as the finance and home minister in the UPA government, wrote on Twitter, "For participants in the Global Business Summit: best decadal growth was under the UPA government between 2004 and 2014."
According to country-sourced statistics provided to the IMF, NPLs as a share of all loans (i.e. NPL slippage ratio) in India stood at 9.7 per cent in the third quarter of 2017, compared with 1.7 per cent in China (IMF 2017).
India's GDP growth in the third quarter of the current fiscal is likely to be in the range of 6.5-7 per cent and may expand further in following three months, said a SBI research report.
Rajnath Singh said country's world-wide prestige has grown in the recent past and the young people need to work dedicatedly in the field of knowledge and science to ensure that no one can stop India from becoming a world leader.
The statistics ministry has proposed the new base year for GDP and IIP as 2017-18 while for CPI it will be 2018.
P Chidambaram said that every economist of the government is speaking against the Union Budget provisions.
According to Jaitley, this phase of "consolidation" will be led by the Micro, Small & Medium Enterprises (MSME) sector.
The 2018-19 Union Budget unveiled yesterday contains a number of policy measures with the potential to support economic demand and social wellbeing.
This comes hours after Finance Minister Arun Jaitley presented the Economic Survey for 2017-18 in Parliament.
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