Women represent half of India's electorate. Their vote can make-or-break the fortunes of political parties. No wonder, women are key vote bank for them. Today, we look at how the political class is wooing women with welfare schemes.

Greater economic participation of women essential for India's growth

The Reserve Bank of India governor, Shaktikanta Das, raised India's economic growth forecast for 2024, citing strong performances in manufacturing, construction, and rural demand. He expects the economy to grow close to 8% this year, exceeding previous estimates. The governor also reiterated the RBI's commitment to controlling inflation despite ongoing geopolitical and weather uncertainties.

RBI Governor: India's growth forecast revised upward nears 8% this year

World Bank on Tuesday (April 4) revised its forecast for India as it lowered the economic growth expectations in the current fiscal year that started on April 1 to 6.3 per cent from 6.6 per cent.&nbsp;

The international financial institution said that it expects that higher borrowing costs would hurt consumption. The World Bank said in a report: "Rising borrowing costs and slower income growth will weigh on private consumption growth."&nbsp;

"Government consumption is projected to grow at a slower pace due to the withdrawal of pandemic-related fiscal support measures," the report added.&nbsp;

World Bank also told a media outlet that in the second half of the last fiscal, India's growth will continue to be resilient. However, there will be moderation in growth.&nbsp;

Auguste Tano Kouame, who is World Bank's Country Director in India, told India-based media outlet NDTV that "whilst we have revised our forecast, India is still going to be one of the fastest-growing economies in the world".&nbsp;

As quoted, he also said that&nbsp;India wants to become an upper middle-income country by 2030 and a developed economy by 2047, for which it will need to grow at eight&nbsp;per cent.&nbsp;

WATCH |&nbsp;Economists: Manufacturing numbers indicate a recession soon&nbsp;

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The report mentioned that it projected the current account deficit to narrow to 2.1 per cent of gross domestic product for the current fiscal year from an estimated three per cent in the previous year.&nbsp;&nbsp;

World Bank economist Dhruv Sharma said that the impacts of the recent turmoil in financial markets in the United States and Europe pose&nbsp;a risk to short-term investment flows to emerging markets, including India. As quoted by news agency Reuters, Sharma said, "But Indian banks remain well capitalised."&nbsp;

(With inputs from agencies)&nbsp;

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World Bank on Tuesday (April 4) revised its forecast for India as it lowered the economic growth expectations in the current fiscal year that started on April 1 to 6.

World Bank on Tuesday (April 4) revised its forecast for India as it lowered the economic growth expectations in the current fiscal year that started on April 1 to 6.3 per cent from 6.6 per cent. The international financial institution said that it expects that higher borrowing costs would hurt consumption. The World Bank said in a report: "Rising borrowing costs and slower income growth will weigh on private consumption growth." "Government consumption is projected to grow at a slower pace due to the withdrawal of pandemic-related fiscal support measures," the report added. World Bank also told a media outlet that in the second half of the last fiscal, India's growth will continue to be resilient. However, there will be moderation in growth. Auguste Tano Kouame, who is World Bank's Country Director in India, told India-based media outlet NDTV that "whilst we have revised our forecast, India is still going to be one of the fastest-growing economies in the world". As quoted, he also said that India wants to become an upper middle-income country by 2030 and a developed economy by 2047, for which it will need to grow at eight per cent. WATCH | Economists: Manufacturing numbers indicate a recession soon × The report mentioned that it projected the current account deficit to narrow to 2.1 per cent of gross domestic product for the current fiscal year from an estimated three per cent in the previous year. World Bank economist Dhruv Sharma said that the impacts of the recent turmoil in financial markets in the United States and Europe pose a risk to short-term investment flows to emerging markets, including India. As quoted by news agency Reuters, Sharma said, "But Indian banks remain well capitalised." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

World Bank lowers India FY24 growth forecast, but 'growth continues to be resilient'

After a near-certain contraction last year for the third time since 2019, Hong Kong’s economy is coming back stronger this year and may even grow faster than rival financial hub Singapore for the first time in more than a decade.

World Business Watch: Hong Kong's GDP growth likely to be above Singapore's

The IMF on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.

The International Monetary Fund's growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by eight per cent in 2020 due to the pandemic.

In its latest update, the IMF projected a 11.5 per cent growth rate for India in 2021. This makes India the only major economy of the world to register a double-digit growth in 2021, it said.

China is next with 8.1 per cent growth in 2021 followed by Spain (5.9 per cent) and France (5.5 per cent).

Revising its figures, the IMF said that in 2020, the Indian economy is estimated to have contracted by eight per cent. China is the only major country which registered a positive growth rate of 2.3 per cent in 2020.

India's economy, the IMF said, is projected to grow by 6.8 per cent in 2022 and that of China by 5.6 per cent.

With the latest projections, India regains the tag of the fastest developing economies of the world.

IMF Chief Economist Gita Gopinath, during a virtual press conference to release the WEO update, said that India has somewhat a faster pace of recovery, but cumulatively by the end of 2022, it is nine per cent below its pre-pandemic projected level.

"Cumulatively by the end of 2022, India is still nine per cent below its pre pandemic projected level,"&nbsp;Gopinath said.

"We are seeing India come back to its 2019 levels and 2021, but it's still below. Why do we have these upgrades (in IMF's growth projections for India)....because the activity and mobility particularly came back much faster than expected in India. We have not seen another wave,"&nbsp;Gopinath said.

"In fact, we are seeing a very strong decline in cases, which is again a bit different from other parts of the world. So, these factors, including what we're seeing in terms of high frequency indicators, point to have some what faster pace of recovery. But again, there is still some distance to go,"&nbsp;Gopinath said.

Early this month, IMF Managing Director Kristalina Georgieva had said that India actually has taken very decisive action, very decisive steps to deal with the pandemic and to deal with the economic consequences of it.

India, she said, went for a very dramatic lockdown for a country of this size of population with people clustered so closely together. And then India moved to more targeted restrictions and lockdowns.

The IMF on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic.

The IMF on Tuesday projected an impressive 11.5 per cent growth rate for India in 2021, making the country the only major economy of the world to register a double-digit growth this year amidst the coronavirus pandemic. The International Monetary Fund's growth projections for India in its latest World Economic Outlook Update released on Tuesday reflected a strong rebound in the economy, which is estimated to have contracted by eight per cent in 2020 due to the pandemic. In its latest update, the IMF projected a 11.5 per cent growth rate for India in 2021. This makes India the only major economy of the world to register a double-digit growth in 2021, it said. China is next with 8.1 per cent growth in 2021 followed by Spain (5.9 per cent) and France (5.5 per cent). Revising its figures, the IMF said that in 2020, the Indian economy is estimated to have contracted by eight per cent. China is the only major country which registered a positive growth rate of 2.3 per cent in 2020. India's economy, the IMF said, is projected to grow by 6.8 per cent in 2022 and that of China by 5.6 per cent. With the latest projections, India regains the tag of the fastest developing economies of the world. IMF Chief Economist Gita Gopinath, during a virtual press conference to release the WEO update, said that India has somewhat a faster pace of recovery, but cumulatively by the end of 2022, it is nine per cent below its pre-pandemic projected level. "Cumulatively by the end of 2022, India is still nine per cent below its pre pandemic projected level," Gopinath said. "We are seeing India come back to its 2019 levels and 2021, but it's still below. Why do we have these upgrades (in IMF's growth projections for India)....because the activity and mobility particularly came back much faster than expected in India. We have not seen another wave," Gopinath said. "In fact, we are seeing a very strong decline in cases, which is again a bit different from other parts of the world. So, these factors, including what we're seeing in terms of high frequency indicators, point to have some what faster pace of recovery. But again, there is still some distance to go," Gopinath said. Early this month, IMF Managing Director Kristalina Georgieva had said that India actually has taken very decisive action, very decisive steps to deal with the pandemic and to deal with the economic consequences of it. India, she said, went for a very dramatic lockdown for a country of this size of population with people clustered so closely together. And then India moved to more targeted restrictions and lockdowns.

IMF projects 11.5% growth rate for India in 2021

Prime Minister Narendra Modi on Thursday addressed the nation on the occasion of Buddha Purnima and urged people to take inspiration from each other and stay resolved in their fight against coronavirus.

Speaking at a virtual global Buddha Purnima event, Modi said, "People world over working selflessly for others in these difficult times are worthy of praise."

Buddha Purnima, also called Buddha Jayanti marks the birth anniversary of Gautam Buddha, the founder of Buddhism.

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Remembering the noble teachings of Lord Buddha. <a href="https://t.co/nQWoa5qNX0">https://t.co/nQWoa5qNX0</a>
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PM Modi also expressed that India's growth will always be aiding global growth. Buddha Purnima celebrations this year are being held virtually due to the COVID-19 pandemic.

"While India is making every effort to save the life of every Indian today,? it is also taking its global obligations equally seriously. India is standing strong and selflessly in these difficult times with those facing trouble in India or abroad," he said.&nbsp;

"For us, this time of crisis is the time for extending help to those that need it. That is why countries across the world have looked towards India for help during this crisis and we too have reached out to them," he said.&nbsp;

"The goals and standards of our success change with time, but we need to keep in mind is that our work should be done with a sense of compassion and service for mankind," he said.

"Times have changed, conditions have changed, systems of society have changed, but the message of Lord Buddha has been constantly flowing in our lives. This is possible only because Buddha is not just a name but also a sacred thought. An idea that beats in the heart of every human being guides humanity," he said.

(With inputs from PTI)

Prime Minister Narendra Modi on Thursday addressed the nation on the occasion of Buddha Purnima and urged people to take inspiration from each other and stay resolved in their fight against coronavirus.

Prime Minister Narendra Modi on Thursday addressed the nation on the occasion of Buddha Purnima and urged people to take inspiration from each other and stay resolved in their fight against coronavirus. Speaking at a virtual global Buddha Purnima event, Modi said, "People world over working selflessly for others in these difficult times are worthy of praise." Buddha Purnima, also called Buddha Jayanti marks the birth anniversary of Gautam Buddha, the founder of Buddhism. Remembering the noble teachings of Lord Buddha. https://t.co/nQWoa5qNX0 — Narendra Modi (@narendramodi) May 7, 2020 × PM Modi also expressed that India's growth will always be aiding global growth. Buddha Purnima celebrations this year are being held virtually due to the COVID-19 pandemic. "While India is making every effort to save the life of every Indian today,? it is also taking its global obligations equally seriously. India is standing strong and selflessly in these difficult times with those facing trouble in India or abroad," he said. "For us, this time of crisis is the time for extending help to those that need it. That is why countries across the world have looked towards India for help during this crisis and we too have reached out to them," he said. "The goals and standards of our success change with time, but we need to keep in mind is that our work should be done with a sense of compassion and service for mankind," he said. "Times have changed, conditions have changed, systems of society have changed, but the message of Lord Buddha has been constantly flowing in our lives. This is possible only because Buddha is not just a name but also a sacred thought. An idea that beats in the heart of every human being guides humanity," he said. (With inputs from PTI)

'India's growth will always aid global growth': PM Modi at Buddha Purnima event

The world bank has released its outlook for 2020 and there is some bad news for Indian economy. In the ongoing fiscal year India's growth is expected to shrink to 5%. Lack of credit has been sighted the reason behind the shrink. #WION #IndianEconomy #India #FiscalYear

World Bank on Indian Economy: India's growth expected to shrink to 5% in 2020

The International Monetary Fund has said it wants continued momentum in India's growth and structural reforms despite the election period.

A number of elections are scheduled to be held in India within the next one year with assembly polls in Karnataka, Mizoram, Chattisgarh, Madhya Pradesh and Rajasthan as well as the 2019 Lok Sabha election.

"We are not saying that India's structural reform speed will slow down because of elections. What we are saying is that the growth momentum and the structural reform momentum should continue despite the election period," said Changyong Rhee, Director of the Asia and Pacific Department at the IMF.

India is projected to grow at 7.4 per cent in the fiscal year 2018-2019 as the economy recovers from temporary destruction due to currency exchange initiatives and the roll out of the new goods and services tax, Rhee said Thursday.

Ken Kang, Deputy Director, at the IMF Asia and Pacific Department said the implementation of the GST was "a major reform" of the Indian tax system.&nbsp

"In recent years, India has made impressive progress in reforms.. It (GST) will enhance the efficiency of intra-Indian movement of goods and services, help create a common national market as well as help boost jobs and growth," said Kang.

He said India's introduction of flexible inflation targeting and of a statutory monetary policy which has helped strengthen the monetary policy framework was another big achievement.&nbsp

"The government has recently announced a major recapitalisation plan for the public-sector banks in order to accelerate the work out of non-performing loans, as well as made some important legal improvements through a new insolvency and bankruptcy law," said Kang.

"The IMF hopes that the reform momentum would continue," Kang added.&nbsp

Looking ahead, said Kang, India needed to focus on labour market reforms with a focus on increasing formal female labour participation, to improve the business environment, and reduce complex regulations, but also to address supply bottlenecks, particularly in the agricultural sector and distribution networks.

Responding to a question, Kang said that the IMF expects India's role in the region to expand.

"India does have room to expand its export orientation and to reduce further trade and non-trade barriers. The statutory tariff rate in India is relatively high at about 15 per cent and higher than those in the rest of the region. So there is room to do more on trade reforms," he said.

A number of elections are scheduled to be held in India within the next one year with assembly polls in Karnataka, Mizoram, Chattisgarh, Madhya Pradesh and Rajasthan as well as the 2019 Lok Sabha election

The International Monetary Fund has said it wants continued momentum in India's growth and structural reforms despite the election period. A number of elections are scheduled to be held in India within the next one year with assembly polls in Karnataka, Mizoram, Chattisgarh, Madhya Pradesh and Rajasthan as well as the 2019 Lok Sabha election. "We are not saying that India's structural reform speed will slow down because of elections. What we are saying is that the growth momentum and the structural reform momentum should continue despite the election period," said Changyong Rhee, Director of the Asia and Pacific Department at the IMF. India is projected to grow at 7.4 per cent in the fiscal year 2018-2019 as the economy recovers from temporary destruction due to currency exchange initiatives and the roll out of the new goods and services tax, Rhee said Thursday. Ken Kang, Deputy Director, at the IMF Asia and Pacific Department said the implementation of the GST was "a major reform" of the Indian tax system. "In recent years, India has made impressive progress in reforms.. It (GST) will enhance the efficiency of intra-Indian movement of goods and services, help create a common national market as well as help boost jobs and growth," said Kang. He said India's introduction of flexible inflation targeting and of a statutory monetary policy which has helped strengthen the monetary policy framework was another big achievement. "The government has recently announced a major recapitalisation plan for the public-sector banks in order to accelerate the work out of non-performing loans, as well as made some important legal improvements through a new insolvency and bankruptcy law," said Kang. "The IMF hopes that the reform momentum would continue," Kang added. Looking ahead, said Kang, India needed to focus on labour market reforms with a focus on increasing formal female labour participation, to improve the business environment, and reduce complex regulations, but also to address supply bottlenecks, particularly in the agricultural sector and distribution networks. Responding to a question, Kang said that the IMF expects India's role in the region to expand. "India does have room to expand its export orientation and to reduce further trade and non-trade barriers. The statutory tariff rate in India is relatively high at about 15 per cent and higher than those in the rest of the region. So there is room to do more on trade reforms," he said.

India's growth momentum must continue despite elections: IMF

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