11 Updates
India must remove investment barriers for growth: IMF
Photo Credit: , Getty Images

India must remove investment barriers for growth: IMF

Oct 9 2013, 12:20pm CDT | by IANS

Washington, Oct 9 (IANS) India needs to remove barriers to investment, maintain the credibility of its monetary and fiscal policies and keep the budget deficit reined in to return to a high growth path, according to the International Monetary Fund (IMF).

Washington, Oct 9 — India needs to remove barriers to investment, maintain the credibility of its monetary and fiscal policies and keep the budget deficit reined in to return to a high growth path,...

Filed under: news

YouTube Videos

 
 
 

41 weeks ago

India must remove investment barriers for growth: IMF

Oct 9 2013, 12:20pm CDT | by IANS

Washington, Oct 9 (IANS) India needs to remove barriers to investment, maintain the credibility of its monetary and fiscal policies and keep the budget deficit reined in to return to a high growth path, according to the International Monetary Fund (IMF).

Washington, Oct 9 — India needs to remove barriers to investment, maintain the credibility of its monetary and fiscal policies and keep the budget deficit reined in to return to a high growth path, according to the International Monetary Fund (IMF).

A number of domestic factors have played an important role in India's growth slowing down quite sharply, Rupa Duttagupta, deputy chief of IMF World Economic Outlook Division, told reporters after IMF's latest projections lowered India's growth for fiscal 2013 to 3.8 percent.

The IMF's Fall 2013 World Economic Outlook (WEO) expects India to gradually pick up to 5.1 percent next year, again one percentage point lower than projected in July, but "on the structural side, we still see investment recovery to be very slow".

"A lot of supply-side bottlenecks, say constraints in the mining sector, in the power sector, as well as, in general, investment sentiment has been very weak in terms of slow project approvals," Duttagupta said.

"These things have played a role in keeping investment still pretty subdued. Also, given much tighter monetary conditions, given the higher inflation, higher interest rates have played a role in keeping consumption demand pretty subdued," she said.

But Duttagupta noted "more recently the exchange rate has depreciated significantly in real effective terms, and agricultural production is also undergoing a strong rebound".

"So, built on these factors and high-frequency indicators show that even investment growth is picking up, we expect growth to pick up next year."

Noting that risks of higher capital outflows once unconventional policies unwind are always there, Dasgupta said, it was very important for India and Indonesia "to sort of maintain the credibility on both their monetary and fiscal policies".

The central banks of both countries in recent months have raised their interest rates given higher inflation "which helps because inflation is still very high in both countries", she said.

"For India, also, an important priority would be to make sure that the fiscal deficit target for the FY2013 budget is maintained even if additional measures are needed," Duttagupta said.

Olivier Blanchard, Economic Counsellor and Director of the Research Department, also stressed the need for urgent structural reforms "from rebalancing toward consumption in China to removing barriers to investment in India or Brazil."

(Arun Kumar can be contacted at arun.kumar@ians.in)

IANS

Source: IANS

 
Update
11

13 minutes ago

Windows Phone users score Uber app

Jul 23 2014 7:13pm CDT | Source: BetaNews

Microsoft CEO Satya Nadella Addresses Microsoft Worldwide Partner Conference
It's generally never a good idea to hitchhike. Any time a guy sticks out his thumb, or a girl sticks out her leg, it could be the beginning of their end. Quite frankly, getting a ride from a stranger seems like the start of a horror movie. One minute you are in the passenger seat of a car, and the next, you are in the trunk. The latest rage in getting a ride, is Uber. If you aren't familiar, it is an a ...
Source: BetaNews   Full article at: BetaNews
 

 
Update
10

4 hours ago

A Tree In India Is Bigger Than The Average Wal-Mart

Jul 23 2014 3:01pm CDT | Source: Business Insider

INDIA-TRIBUTE-ANNIVERSARY
It may sound hard to believe, but the world's widest tree, located near Kolkata, India, is bigger than the average Wal-Mart. The gigantic Banyan tree may look like a forest from far away, but it's actually comprised of a myriad of aerial roots that cover 3.5 square acres of land, which equals roughly 156,000 square feet, or 14,400 square meters.  Compare that to data from the most recent unit count and square footage report from Wal-Mart, which says that the average store size (that ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
9

4 hours ago

Video: A Hindu Legislator Forces Bread on a Muslim During the Ramadan

Jul 23 2014 2:47pm CDT | Source: Forbes Real Time

SYRIA-RELIGION-ISLAM-EID
In India, a video catches people’s attention in which a right-wing Hindu legislator tried to force a piece of bread on a Muslim during the Ramadan. In Taiwan, 47 were killed and 11 injured when a plane crashed soon after the Typhoon h ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
8

6 hours ago

Where the Brics Stand on Israel's Gaza Offensive

Jul 23 2014 1:02pm CDT | Source: IBTimes UK

(FILE) Israel At 60: The Birth Of A Nation
Brazil, Russia, India, China and South Africa agree on a two-state solution for Israel and Palestine ...
Source: IBTimes UK   Full article at: IBTimes UK
 

 
Update
7

8 hours ago

Indian boy has 232 teeth removed

Jul 23 2014 11:23am CDT | Source: BBC News

M. Ward With Ghost Of A Saber Tooth Tiger In Concert - New Orleans, Louisiana
Doctors in India extract 232 teeth from the mouth of a 17-year-old boy in a seven-hour opera ...
Source: BBC News   Full article at: BBC News
 

 
Update
5

8 hours ago

Agnikalam: Indian Railways - nostalgia and reality

Jul 23 2014 11:20am CDT | Source: Business Standard

INDIA-TRANSPORT-RAILWAY
Travelling by rail in India was once a pleasure, but has now become a forbidding cha ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
4

8 hours ago

A toll on the top

Jul 23 2014 10:34am CDT | Source: Business Standard

Business Groups Discuss Immigration Reform
Toll tax along highways and other major roads has become something of a controversial issue in India, and it is especially galling for ordinary commuters that politicians and ministers enjoy exemptions ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
3

9 hours ago

Naidu govt to continue public sector reforms

Jul 23 2014 10:10am CDT | Source: Business Standard

England & India Nets Session
Certain reforms started by Naidu remained unfinished when he lost power to Congre ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
2

9 hours ago

Pakistan yet to grant MFN status to India

Jul 23 2014 9:53am CDT | Source: The Nation - Pakistan

Day Eleven: The Championships - Wimbledon 2014
NEW DELHI-Pakistan has yet to grant the most favoured nation (MFN) status to India, Parliament was informed ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
1

9 hours ago

India will not back WTO protocol unless concerns addressed - sources

Jul 23 2014 9:47am CDT | Source: Reuters India

Japanese Prime Minister Shinzo Abe Visits Australia
NEW DELHI (Reuters) - India will not support a trade facilitiation protocol ahead of a July 31 deadline unless its concerns about subsidies are met, two senior government officials said, sticking to a hard line that critics say could derail a landmark global tra ...
Source: Reuters India   Full article at: Reuters India
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

47 killed in Taiwan as plane makes botched landing (Roundup)
Taipei, July 23 (IANS) Forty-seven people on board a Taiwanese TransAsia Airways plane were killed in a failed emergency landing in the island county of Penghu Wednesday, Taiwan's transportation authority has confirmed.
 
 
47 killed in Taiwan plane's botched landing
Taipei, July 23 (IANS) Forty-seven people on board a Taiwanese TransAsia Airways plane were killed in a failed emergency landing in the island county of Penghu Wednesday, Taiwan's transportation authority has confirmed.
 
 
51 killed in Taiwan plane emergency landing
Beijing, July 23 (IANS) At least 51 people were killed and seven others injured when a passenger plane with Taiwan's TransAsia Airways made an emergency landing on the outlying island county of Penghu Wednesday, media reported.
 
 
High salt ups heart disease risk in diabetics
Tokyo, July 23 (IANS) People with Type-2 diabetes have more to add to their list of dietary restrictions as researchers have found that a high salt diet may double their risk of developing cardiovascular disease.
 
 
 

Latest from the Network

Commonwealth Games declared open after colourful but touching ceremony
Glasgow, July 24 (IANS) The 2014 Commonwealth Games got off to a colourful start with some enthralling performances by singers Rod Stewart, Susan Boyle and violinist Nicola Benedetti at the Celtic Park and a minute's...
Read more on Sport Balla
 
UN to probe human rights violations by Israel
Geneva, July 24 (IANS) A special session of the United Nations Human Rights Council (HRC) adopted a resolution Wednesday to launch an inquiry into human rights violations from Israel's latest military offensive in the...
Read more on Politics Balla
 
Toll in Gaza mounts to 701
Gaza, July 24 (IANS) The Palestinian health ministry said early Thursday that six Palestinians have been killed by Israeli airstrikes in the southern Gaza Strip town of Khan Younis. The death toll of the Israeli...
Read more on Politics Balla
 
Late Amy Winehouse still speaks to her dad
London, July 24 (IANS) It may sound bizarre but singer Amy Winehouse's father, Mitch, claims that he still talks to his daughter, who died from accidental alcohol poisoning in July 2011. Mitch has admitted he can...
Read more on Celebrity Balla
 
39 killed in Nigeria bomb blasts
Abuja, July 24 (IANS) At least 39 people were killed in twin bomb blasts in Nigeria's northern city of Kaduna Wednesday, security sources and eyewitness said. In the first blast, 25 people were killed while the second...
Read more on Politics Balla
 
Alyssa Milano knew she was expecting a baby girl
Alyssa Milano knew she was expecting a girl. The former 'Charmed' star had a feeling she was carrying a baby daughter, even before it had been confirmed by a doctor, because she suffered with morning sickness, which she...
Read more on Celebrity Balla
 
Nicola Roberts splits from boyfriend
Nicola Roberts has split from her boyfriend. The former Girls Aloud singer reportedly called time on her six-year relationship with businessman Charlie Fennell late last year after their romance fizzled out. A source...
Read more on Celebrity Balla
 
Eva Mendes' pregnancy was 'unplanned'
Eva Mendes' pregnancy was reportedly ''unplanned''. The 40-year-old actress is expecting her first child with boyfriend Ryan Gosling, 33, but the baby news allegedly came as a complete shock to the couple. A source...
Read more on Celebrity Balla
 
Naya Rivera adopts husband's surname on Twitter
Naya Rivera has adopted her husband's surname on her social media accounts. The 'Glee' star only tied the knot with Ryan Dorsey last weekend, but she couldn't wait to flaunt her new marriage as she has already changed...
Read more on Celebrity Balla
 
Zoe Saldana pregnant?
Los Angeles, July 24 (IANS) "Avatar" fame actress Zoe Saldana is reportedly expecting her first child. The 36-year-old is set to become a mother for the first time with her Italian artist husband Marco Perego, reports...
Read more on Celebrity Balla