(Video) Rajya Sabha TV (RSTV) The Big Picture: Indian Economy Going Strong

Topic: Indian Economy Going Strong

Guest:

Dr. Yamini Agrawal, (Professor of Finance, Indian Institute of Finance)
K A Badrinath, (Editor in Chief, Financial Chronicle)
Ajay Dua, (Former Secretary, Ministry of Commerce & Industry)

Topic Description:

Indian economy in the times when major economies around the world are seeing slow growth rate...

The International Monetary Fund (IMF) on Tuesday pegged India’s economic growth forecasts for India to 7.3 per cent for FY 2020 and 7.5 per cent for the next fiscal. The IMF report also cited continued recovery of investment and robust consumption amid a more expansionary stance of monetary policy and some expected impetus from fiscal policy...

It, however, said that in the near term, continued fiscal consolidation is needed to bring down India’s elevated public debt. This should be supported by strengthening goods and services tax compliance and further reducing subsidies...

The IMF also commended the government for taking steps to strengthen financial sector balance sheets through accelerated resolution of non-performing assets (NPAs) under a simplified bankruptcy framework...

The report though argued that global growth... which peaked at close to 4 per cent in 2017... dropped to 3.6 per cent in 2018, and is projected to fall further to 3.3 per cent in 2019...

Does this report means economic stability and indication of solid growth in the future