Following up the research on India, Goldman Sachs and Co. economists Jim O’Neill and Tushar Poddar have come up with a report on 10 things the country needs to do to achieve a per capita GDP of at least $20,000 (Rs 8.58 lakh today) by 2050 (from less than $1,000 now).
Posts Tagged ‘BRIC’
India inflation rate rises to 11%
India’s inflation rate accelerated to a 13-year high on a recent hike in retail fuel prices and because of an increase in non-food items.
India’s wholesale prices jumped 11.05 percent in the week to June 7, the highest since February 1995. The inflation rate was 8.75% in the previous week. India doesn’t calculate wholesale price inflation on a monthly basis.
India’s inflation rate has jumped to 8.24 percent
India’s Annual inflation rose to 8.24 percent for the week ended May 24, the highest since August 2004, from 8.10 percent a week earlier, according to the Wholesale Price Index, the most watched cost tracker.
India’s Annual Inflation Unexpectedly Accelerates
India , the Asia’s third-largest economy’s inflation soared to 7.83% for the week ended May 03, 2008 from 7.61% – a 44-month high .
Earlier, Indian government banned cement export and non-basmati rice export , reduced import duty on some items and imposed export duty on some steel items to control the surging prices.
India’s economy to grow about 8.8% – NCAER Report
According to National Council for Applied Economic Research (NCAER) report , The Indian economy is expected to register a growth rate 8.5-8.8 % during fiscal 2008-09 with stable interest rates but inflation may be higher than last year.
Global Recession close to reality, IMF Predicts
The world is heading towards a global recession, latest forecasts from the International Monetary Fund (IMF) have predicted.
In it’s latest report International Monetary Fund (IMF) have predicted world growth could slow to 3.7 % in 2008— 0.5 % point lower than what was forecast in the January 2008, citing the unfolding financial market turmoil as the biggest downside risk to the global economy.