The New Year to introduce a new ray of hope for the Indian economy
Monday - December 30, 2019 12:14 pm ,
Category : WTN SPECIAL
The country's economy soon to pick up the pace
The global economic slowdown seems to end
DEC 30 (WTN) - The global economic slowdown has affected the fast-growing Indian economy to a great extent. The GDP growth rate of the quarters so far in the current financial year suggests that the Indian economy has suffered a major setback due to economic slowdown. The GDP growth rate of the Indian economy is going to be so less than expected in this current financial year due to many other international and national reasons including the US-China trade war. But according to the economics experts, the impact of the economic slowdown will end only a few days later and all major economies around the world, including India, will see a boom.
The economic slowdown has slowed India's growth rate, but the time is going to be very good for the Indian economy, which is included in the world's big economies. After the end of the economic slowdown, if the Indian economy works as expected, India can overtake Germany, the developed country of Europe by 2026, to become the fourth-largest economy in the world. On the other hand, if by 2026, India overtook Germany, by 2034, the Indian economy could overtake Japan's economy and can become the third-largest economy in the world.
For your information, let us know that according to the report 'World Economic League Table 2020' (Center for Economics and Business Research), UK-based Center for Economics and Business Research, the Indian economy even after the economic slowdown in 2019 has outpaced the economies of Britain and France and the Indian economy has become the fifth largest economy in the world. At the same time, the report also said that India can become an economy of 5 trillion dollars by 2026. However, the Modi government has set a target of making India a five trillion dollar economy by 2024.
CEBR has stated in its report that the competition for the world's third-largest economy will continue amid Japan, Germany, and India for the next 15 years. For your information, let us know that America is the world's largest economy at the moment, while China is the second-largest economy in the world. It is obvious that the global economic slowdown has given a big jolt to India's fast-growing economy. According to the International Monetary Fund (IMF), economies such as India and Brazil have been the most affected by the economic slowdown, but economists believe that as fast these both economies have shocked back, the more these economies will move fast as once the economic slowdown ends.
It is speculated that along with the reduction of other global trade tensions including the US-China trade war, as well as corrective and positive measures taken by the Modi government and the Central Bank of India, the Reserve Bank of India, the Indian economy will improve in the year 2020. However, like every time, the increasing fiscal deficit will continue to be a cause of concern for the government in the coming times. However, some business organizations suggest that the government should adopt a flexible fiscal policy, which should include a target of 0.5 percent to 0.75 percent for the central government's fiscal deficit.
After facing a long economic slowdown, business organizations believe that the bad time for the economy is going to end soon and the year 2020 would prove to be the best for the Indian economy. If the measures taken by the Central Government and the Reserve Bank for the betterment of the economy yield positive results in the supposed time, the Indian economy will grow very fast for the next 4 financial years and on this basis, the target of $ 5 trillion economy can be achieved.
In the three consecutive quarters of the current financial year, softening has been observed in almost all sectors of the economy. In the services sector as well as the manufacturing sector, due to slowness, unemployment increased in large numbers. At the same time, the automobile sector has suffered the biggest loss due to economic slowdown. For your information, let us know that the biggest and longest impact of the economic slowdown has had on the Indian automobile sector. At the same time, the GDP collection for this fiscal year has not been as expected, due to which the budget deficit of the government has increased.
But the phase of the economic slowdown is on the verge of ending. The manufacturing and services sector is expected to pick up soon and will also see an increase in employment. Due to an increase in employment and an increase in the salary of the workers, people will purchase and this will bring money in the market. Demand for goods and services will increase due to cash flow in the market and production will increase as more and more orders come in industries and companies. It is obvious that when the production will increase and the sales in the market pick up, the economy will get a lot of support and the GDP growth rate will increase. It is to be hoped that India will soon be able to get rid of the ill effects of the economic slowdown and compete with Japan and Germany to become the world's third-largest economy with the goal of a $ 5 trillion economy.
DEC 30 (WTN) - The global economic slowdown has affected the fast-growing Indian economy to a great extent. The GDP growth rate of the quarters so far in the current financial year suggests that the Indian economy has suffered a major setback due to economic slowdown. The GDP growth rate of the Indian economy is going to be so less than expected in this current financial year due to many other international and national reasons including the US-China trade war. But according to the economics experts, the impact of the economic slowdown will end only a few days later and all major economies around the world, including India, will see a boom.
The economic slowdown has slowed India's growth rate, but the time is going to be very good for the Indian economy, which is included in the world's big economies. After the end of the economic slowdown, if the Indian economy works as expected, India can overtake Germany, the developed country of Europe by 2026, to become the fourth-largest economy in the world. On the other hand, if by 2026, India overtook Germany, by 2034, the Indian economy could overtake Japan's economy and can become the third-largest economy in the world.
For your information, let us know that according to the report 'World Economic League Table 2020' (Center for Economics and Business Research), UK-based Center for Economics and Business Research, the Indian economy even after the economic slowdown in 2019 has outpaced the economies of Britain and France and the Indian economy has become the fifth largest economy in the world. At the same time, the report also said that India can become an economy of 5 trillion dollars by 2026. However, the Modi government has set a target of making India a five trillion dollar economy by 2024.
CEBR has stated in its report that the competition for the world's third-largest economy will continue amid Japan, Germany, and India for the next 15 years. For your information, let us know that America is the world's largest economy at the moment, while China is the second-largest economy in the world. It is obvious that the global economic slowdown has given a big jolt to India's fast-growing economy. According to the International Monetary Fund (IMF), economies such as India and Brazil have been the most affected by the economic slowdown, but economists believe that as fast these both economies have shocked back, the more these economies will move fast as once the economic slowdown ends.
It is speculated that along with the reduction of other global trade tensions including the US-China trade war, as well as corrective and positive measures taken by the Modi government and the Central Bank of India, the Reserve Bank of India, the Indian economy will improve in the year 2020. However, like every time, the increasing fiscal deficit will continue to be a cause of concern for the government in the coming times. However, some business organizations suggest that the government should adopt a flexible fiscal policy, which should include a target of 0.5 percent to 0.75 percent for the central government's fiscal deficit.
After facing a long economic slowdown, business organizations believe that the bad time for the economy is going to end soon and the year 2020 would prove to be the best for the Indian economy. If the measures taken by the Central Government and the Reserve Bank for the betterment of the economy yield positive results in the supposed time, the Indian economy will grow very fast for the next 4 financial years and on this basis, the target of $ 5 trillion economy can be achieved.
In the three consecutive quarters of the current financial year, softening has been observed in almost all sectors of the economy. In the services sector as well as the manufacturing sector, due to slowness, unemployment increased in large numbers. At the same time, the automobile sector has suffered the biggest loss due to economic slowdown. For your information, let us know that the biggest and longest impact of the economic slowdown has had on the Indian automobile sector. At the same time, the GDP collection for this fiscal year has not been as expected, due to which the budget deficit of the government has increased.
But the phase of the economic slowdown is on the verge of ending. The manufacturing and services sector is expected to pick up soon and will also see an increase in employment. Due to an increase in employment and an increase in the salary of the workers, people will purchase and this will bring money in the market. Demand for goods and services will increase due to cash flow in the market and production will increase as more and more orders come in industries and companies. It is obvious that when the production will increase and the sales in the market pick up, the economy will get a lot of support and the GDP growth rate will increase. It is to be hoped that India will soon be able to get rid of the ill effects of the economic slowdown and compete with Japan and Germany to become the world's third-largest economy with the goal of a $ 5 trillion economy.
