Basu’s remarks comes a day after government released the data showing GDP dropped to a three-year low of 5.7 per cent during April-June.
BJP president Amit Shah on Sunday said India’s economy has become the fastest growing in the world since Prime Minister Narendra Modi took over and that it was in a state of paralysis during the previous UPA rule
The Indian economy is at the cusp of entering its strongest growth phase and a full blown bull market is yet to play out with the wide-based Nifty expected to touch 11,500 in 2018
The ADB report said South Asia will remain the fastest growing of all sub-regions in Asia and the Pacific, with growth on track to meet original projections of seven per cent in 2017 and 7.2 percent in 2018.
The Foreign Direct Investment (FDI) has seen a huge jump from $34,487 billion to $61,724 billion since 2013, Prime Minister Narendra Modi said on Wednesday
Describing it as an unprecedented moment in the country's history, Modi said the creation of the one-nation, one-market and one-tax system would greatly benefit the common man.
Panagariya said that India, on an annual basis, is ahead of China and will regain the growth momentum soon on the back of host of reforms initiated by the Narendra Modi Modi government.
Leading the attack over "falling GDP", Congress Vice President Rahul Gandhi accused the Modi-led NDA government of using diversionary ploys.
With this, India has lost its status of the world’s fastest growing economy, superseded by China whose GDP grew 6.9 per cent during the same quarter
The World Bank report says that the overall impact of GST on equity and poverty is likely to be positive.
Indian economy is expected to rebound to 7.2 per cent growth in the financial year 2017-18 and in the 2018-19 fiscal, it is likely to grow at 7.7 percent, the International Monetary Fund (IMF) said on Monday.
In its 3-year draft action agenda, it has also stressed upon the need for reforms in taxation, agriculture and governance for accelerating all-round development of the country.
The International Monetary Fund (IMF) on Friday said that post demonetisation, India's growth is projected to rebound to 7.2 per cent in fiscal year 2018 and further to 7.7 per cent the next year.
In February, the Central Statistics Office (CSO) estimated that India's GDP growth for the full fiscal 2016-17, at 7.1 per cent, which marked a sharp fall from the 7.9 per cent recorded for the fiscal 2015-16.
President Pranab Mukherjee on Monday said India's services sector has been a key growth driver of its economy.
The Asian Development Bank (ADB) today said that India's growth rate will improve to 7.4 per cent during 2017-18 and go up further to 7.6 per cent in the next fiscal, remaining ahead of China.
Global ratings agency Fitch today said that the Indian economy will grow by 7.1 per cent in the current fiscal before stepping up to 7.7 per cent in the next two financial years.
Minister of State for Civil Aviation Jayant Sinha on Monday said the government's demonetisation decision has led to a dramatic improvement in India's economic landscape.
The government’s decision to scrap old Rs 500 and Rs 1,000 notes, in an attempt to fight corruption and black money, will have a profound and positive impact on India’s economy, World Bank CEO Kristalina Georgoieva has said.
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