A rickshaw puller transports a passenger as he rides past closed ATMs in Kolkata, India. Reuters
Indian economy is likely to swell to $5 trillion mark ahead of its target of 2024 despite huge challenges and global trends. This was stated by T.N. Manoharan, non-executive chairman of India’s Canara Bank recently in Dubai,
Adding to the persisting concerns of a weakening economy, an IHS Markit report said that business sentiment in the country in June fell to the lowest level since 2016 as companies are worried over a subdued economy, government policies, regulation and water shortages.
India’s government forecast on Thursday that economic growth could get back up to 7% per cent this year, but cautioned it will face challenges keeping its fiscal deficit in check.
Reserve Bank of India (RBI) Governor Shaktikanta Das has said the gross fiscal deficit has adhered to budgetary targets, and that the current account deficit is expected to be around 2.5 per cent of the GDP in 2018-19. Das said this earlier this week while speaking at the “Governor Talks”
India slashed corporate taxes on Friday to among the lowest in Asia as part of its drive to kickstart the stuttering economy, sending stock surging as analysts predicted a renewal of interest in the subcontinent.
Pakistan has approved the construction of five liquefied natural gas (LNG) terminals by groups that include Exxon Mobil Corp and Royal Dutch Shell, aiming to triple imports and ease the country's chronic gas shortage,
Dubai has risen in the ranks of the Global Financial Centres Index, GFCI, to the eighth position, representing its highest ever-ranking.