India is projected to grow at 6.4 per cent in fiscal year 2025 and 2026, and the country's stable growth is driven by a reform momentum supporting robust consumption growth and a push for public investment, the International Monetary Fund has said. The IMF released its World Economic Outlook (WEO) Update on Tuesday.
India-bashing on outsourcing of jobs from America is totally unjustified, in fact the US and Britain have the largest net surpluses in business services and hence would suffer the most in terms of the foregone dollar value
Gita Gopinath, the IMF's Indian-American chief economist has been promoted as its First Deputy Managing Director recognising her exceptional intellectual leadership in helping the global economy and the Fund to navigate the "twists and turns" of the "worst economic crisis of our lives". Gopinath would replace Geoffrey Okamoto who plans to leave the International Monetary Fund early next year, Kristalina Georgieva, IMF's managing director announced on Thursday. Gopinath, who was scheduled to return to her academic position at Harvard University in January 2022, has decided to stay, she said. Gopinath, 49, has served as the first female chief economist of the Washington-based global lender for three years.
IMF's Chief Economist Gita Gopinath will leave her job in January next year and return to the prestigious Harvard University, according to the global financial institution.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
India is projected to grow at 6.3 per cent in 2015 and 6.5 per cent in 2016, when it is likely to cross China's projected growth rate of 6.3 per cent, the IMF said.
The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 per cent from 6.8 per cent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 per cent in 2022 to 2.9 per cent in 2023, then rise to 3.1 per cent in 2024. "Our growth projections actually for India are unchanged from our October Outlook.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
Insider trading -- a punishable offence in the United States -- which increases stock market volatility, is relatively high in India, China, Russia, Venezuela and Mexico, according to a study done for the International Monetary Fund.
IMF said in 2017, India is likely to grow at the rate of 7.2 per cent instead of the earlier projected 7.6 per cent.
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
Their research paper on aid by rich nations got leaked
IMF Chief Economist Gita Gopinath also said the pickup in global growth for 2020 remains highly uncertain as it relies on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for under-performing emerging and developing economies such as Brazil, India, and Mexico.
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
The ongoing Greece economic crisis poses a little threat to the rest of the world as the global economy has withstood the stress tests of the last two weeks fairly well.
The global lending agency also said that Brexit has resulted in global economic uncertainty.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
A high-tech Chinese research ship docked at the strategically important Hambantota port departed from Sri Lankan waters on Monday after a controversial six-day visit.
Although the first woman to hold the position of chief economist at IMF, it would be wrong to see her appointment through the lens of gender
Mainstream American newspapers, many of which had been sceptical of India's space mission and sometimes even made fun of it through cartoons, noted the great Indian achievement.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Obama said every country, every democracy in particular, has tussles over the budget.
In his first interview since becoming the chief economic advisor, Arvind Subramanian agrees the Narendra Modi government has taken some initial steps to revive private investments but says many more measures would be required to restore macroeconomic stability - reining in inflation and fiscal deficit - and bring the economy back on high-growth path. Subramanian, who has earlier worked in the research department of the International Monetary Fund, tells IMF Survey, an online magazine of IMF, that the Gujarat model is to be replicated across India but there also are macroeconomic problems at the national level that need to be addressed.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
Here is some background on the candidates seen as potential successors to Rajan at the RBI
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
India's economy - ranked eighth in 2015 with a GDP of $2 trillion - is projected to climb past Brazil, the United Kingdom, France, Germany and Japan and become the world's third-largest in 2030 with a GDP of $7.3 trillion.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
What does Nobel Laureate Abhijit Banerjee thinks about India's education sector?
Vajpayee had always felt that India must act with conviction and panache. He decided that, irrespective of the attendant risks, he would undertake what many felt was a precarious course. A fascinating excerpt from N K Singh's Portraits Of Power: Half A Century Of Being At Ringside on Atalji's 96th birthday, December 25.
There is a sense of relief in Beijing that Modi will be at the helm of affairs in Delhi at a critical juncture in the geopolitics of the region, says Ambassador M K Bhadrakumar.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
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