Indian economy boosted by reforms and export growth

Why RBI Has Limited Scope To Cut Rates

The Budget session of the Parliament commenced with the customary presentation of the Economic Survey by the finance minister.

"Maharashtra, UP, Tamil Nadu and Gujarat are the states with the greatest number of GST registrants".

A series of major reforms undertaken over the past year will allow real GDP growth to reach 6.75 percent this fiscal and it will rise to 7 to 7.5 percent in 2018-19, according to the Economic Survey.

Chief Economic Adviser Arvind Subramanian had earlier said that the policy agenda for the government in the next year will be to stabilise GST and head off macro-economic pressures arising due to alarming oil prices, among other things. And it had called that the prevailing high oil prices are the matter of concern.

India's average GDP growth between 2014-17 was 7.3% against the global average of 3.4%.

Govt troops and separatists clash in Aden, Yemen
Saudi and Emirati troops present in Aden did not intervene when the clashes first broke out, security sources said. In March 2015, the rebels advanced on Aden , where Hadi took refuge after escaping house arrest in the capital.

Indian economy accelerated in second half of current fiscal due to Goods and Services Tax, bank recapitalisation, liberalisation of FDI and higher exports, the Economic Survey 2018 said.

India's recent slowdown has been blamed on several factors, including declining exports and falling private investment.

Congress leader P Chidambaram said on Monday that the Economic Survey showed that the Centre had admitted its failure to address the challenges faced by the education, employment and agricultural sectors of the economy.

Former finance minister and Congress leader P Chidambaram said the survey was depressing but candid.

"That this growth has been achieved in a milieu of lower inflation, improved current account balance and notable reduction in the fiscal deficit to GDP ratio makes it all the more creditable", it says.

China unveils plans for 'Polar Silk Road'
China on Friday outlined its plan to extend its Belt and Road initiative to the Arctic with the "Polar Silk Road ". And is that the Chinese government is not the first to announce new intentions about the Arctic in recent dates.

Economic Survey 2018 states that there has been a large increase in registered indirect and direct taxpayers.

The survey also highlights the scope of reducing substantial tax litigation through government action.

Indian shares touched record highs on the projected acceleration in growth in 2018/19, but bonds fell in response to the survey's suggestion that some fiscal slippage could be warranted.

India's stock market boom is different from that of the US.

Deriving many data points from the implementation of GST, as a precedent, the survey details statewise global exports and draws a strong correlation between exports and the states' standard of living. The government's effort to seek more dividend from the central bank is said to have failed.

Lucas Moura in London for transfer talks with Tottenham
This would represent an upgrade for Tottenham and a crucial one at that as they look to add a different dimension to their game. PSG coach Unai Emery has confirmed that he won't stand in the player's way and said: "I spoke with Lucas".

The Survey noted that there was an improvement in quantitative indicators such as enrolment levels, completion rates and other physical infrastructure such as the construction of school buildings and class rooms, drinking water facilities, toilet facilities and appointment of teachers etc.at the elementary school level.

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