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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    World Bank lowers India growth forecast to 5.5%; cautions on Iraq

    Rocky
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    World Bank lowers India growth forecast to 5.5%; cautions on Iraq Empty World Bank lowers India growth forecast to 5.5%; cautions on Iraq

    Post by Rocky Sun 22 Jun 2014, 9:49 am

    World Bank lowers India growth forecast to 5.5%; cautions on Iraq




    06/21/20140 

    The World Bank on Friday lowered India’s growth projection to 5.5% from the earlier forecast of 5.7% for 2014-15 and warned that the impending crisis in Iraq, which has the potential to inflate the oil bill, can hinder the country’s economic recovery.
     
    “Iraq is a big concern and extremely unpredictable… India, being an energy-deficient country, could be faced with increased fiscal pressures on the fuel side,” Onno Ruhl, country director India, World Bank, told reporters after releasing the report on Global Economic Prospects 2014.

    Ahead of the NDA government’s first budget in July, the World Bank also suggested implementation of reforms such as rolling out of Goods and Services Tax (GST), improving business environment by removing bottlenecks and managing subsidies to put India back on the high-growth trajectory.
    According to the GEP 2014 report, India’s growth rate is set to accelerate to 6.3% in 2015-16 and 6.6% in 2016-17.

    “With rising global demand, we expect that a rebound in domestic investments and a pick-up in manufacturing activities will help India move from two years of sub-5% growth to over 6% in the next year,” Ruhl said.

    However, inflation and the impact of the El Nino (a weather phenomenon in the Pacific), rise in non-performing assets of the banking sector and weak investments continue to pose challenges for India.  


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