UN lowers India's growth forecast for FY20 to 5.7% : Bulletin: Business Today
Business Today

UN lowers India's growth forecast for FY20 to 5.7%

Loading the player...

BusinessToday.In | January 17, 2020

UN lowers India's growth forecast for FY20 to 5.7%
GDP growth in India and few other large emerging countries may gain some momentum this year after the global economy recorded its lowest growth of 2.3 per cent in 2019 due to prolonged trade disputes, a UN study said on Thursday while lowering its current and next fiscal forecasts for the Indian economy. According to the United Nations World Economic Situation and Prospects (WESP) 2020, a growth rate of 2.5 per cent is possible in 2020, but a flare up of trade tensions, financial turmoil, or an escalation of geopolitical tensions could derail a recovery.

Growth requires removing obstacles to businesses; need to remove suspicion, micromanagement: N Chandrasekaran
India is fraught with micromanagement and suspicion, and upping the growth trajectory requires removing the obstacles that impede businesses, Tata Sons chairman N Chandrasekaran said on Thursday. The comments come amid a slide in growth to a decadal low of 5% expected for current fiscal, and also years after the Narendra Modi government made ease of doing business its priority.

Vodafone Idea lost 3.6 crore subscribers in November, Reliance Jio user base up 54 lakh: Trai data
Vodafone Idea lost maximum 3.6 crore wireless subscribers in November, while Reliance Jio gained over 56 lakh subscribers, says Trai data. While Reliance Jio and Airtel's subscriber base increased 1.54 per cent and 0.51 per cent, respectively, Vodafone Idea's user base shrunk 9.77 per cent in the period. Overall, Vodafone Idea has lost 10.5 crore subscribers since both telcos joined hands in September 2018.

Snub more people to make India $5 trillion economy: Chidambaram on Piyush Goyal's 'no favour' jibe at Jeff Bezos
Taking a satirical dig at Union Railways and Commerce Minister Piyush Goyal's "no favour" jibe at Amazon Inc founder and Chief Executive Officer Jeff Bezos, former finance minister and Congress leader P Chidambaram, in a series of satirical tweets, said on Thursday the commerce minister should snub more people as it could help India achieve the $5 trillion economy target. Goyal's comments came a day after the world's richest man Jeff Bezos announced fresh $1 billion investment to help bring small and medium businesses online in India.

China grows slowest in 29 years; posts 6.1% GDP growth in 2019
China's economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown. But data on Friday also showed the world's second-largest economy ended the year on a firmer note as trade tensions eased.

BJP highest earner in FY19 at Rs 2,410 crore; TMC's income spikes 3,628%
Bharatiya Janata Party (BJP) accounted for 65.16 per cent of the total income generated by six national parties at Rs 2,410.08 crore in FY19. The saffron party was followed by Congress, Trinamool Congress, CPM and BSP. Of the total income generated during FY19, the BJP spent 47.71 per cent or Rs 1,005.33 crore. The Congress generated income worth Rs 993 crore and spent around 51.19 (Rs 469.92 crore) per cent of it.
More from this section