India to regain top global GDP growth spot in 2018-19

India to regain top global GDP growth spot in 2018-19

The price-to-earnings ratios of the United States and Indian stock market have converged of late despite the economies of these countries following different paths as expectations of earnings growth are much higher in India, the economic survey said. During recent interviews with a few news channels, Prime Minister Narendra Modi had indicated that the Budget may not contain freebies and sops.

The Survey said that GDP growth for 2017-18 as a whole is expected to be close to 6.75 per cent.

The Economic Survey released on Monday suggested that the Indian economy was in the pink of health, but was cautious about risk arising from persistent high crude oil prices or a sharp correction in stock markets over the medium term and from climate change over the long run.

The Economic Survey is prepared by the Chief Economic Advisor and presented in both the Houses of Parliament, during Budget Session. Over the last 10 to 15 years, India's performance improved on 14 out of 17 indicators of women's agency, attitudes, and outcomes, according to the key findings of the survey.

He added that the survey "prays" that the world economy maintains its growth momentum, and that oil prices do not persist at current levels, to achieve its economic objectives for the future.

"The stock market surge in India has coincided with a deceleration in economic growth whereas U.S. growth has accelerated", said the report adding that India's corporate earnings to GDP ratio which now stands at 3.5% has declined since the 2008 financial crisis and real interest rates in India are near historic high levels. In 2013, India ranked 6th in the world in scientific publications.

How to Watch the Grammy Awards' Red Carpet
In this op-ed, Lauren Rearick discusses the Grammys 2018 nominees and how we need to give women of color the respect they deserve. Songwriter Diane Warren called the loss of Petty a shame, adding "There are so many great artists who didn't have to go".

Commenting on the outcome of a Rs6,000 crore financial package for the textiles sector, the survey said "since its implementation in June 2016, the package had a positive impact on the exports of ready-made garments (RMG) of man-made fibres while it did not have a statistically significant impact on the RMG of other natural fibres, except wool".

"The reason for a pause is primarily a structural reform like GST".

With the coming Union Budget being the last before the country goes to polls in 2019, Finance Minister Arun Jaitley has his task cut out.

With more women entering the agriculture sector due to growing migration of men from rural to urban areas, the Economic Survey 2017-18 called for gender-specific interventions to support them.

The Survey also stated that fears of major producing states that the shift to the new system would undermine their tax collections have been allayed as the distribution of the GST base among the states got closely linked to the size of their economies. The rupee declined 0.1 per cent to 63.5775, while Indian equities extended gains. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.