Blue Marlin
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i dont care what you say about pakistan, but the uk...........lol why you become troll? so you are pak origin...
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i dont care what you say about pakistan, but the uk...........lol why you become troll? so you are pak origin...
India On Track To Knock Britain Out Of World's Top 5 Economies
India's economy is still recovering from a cash ban that sucked out 86 percent of currency in circulation near the end of last year.
© 2017 Bloomberg L.P | Anirban Nag, Bloomberg | Last Updated: April 28, 2017 09:53 (IST)
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Highlights
India will overtake Germany in 2022 as the world's fourth-largest economy and push Britain out of the top five, based on analysis of growth projections by the International Monetary Fund. But the challenges the South Asian nation must surmount to get there are many.
- According to IMF projections, India will overtake German economy in 2022
- But there are many challenges for India to get to that position
- Implementation of GST and bad loan pile at banks are biggest among them
These include executing a wide-ranging overhaul of the tax system, sorting out the biggest pile of distressed assets among major economies, reviving lackluster productivity, substantially increasing employment opportunities, encouraging corporate investment and overcoming a significant infrastructure shortfall.
India's economy is still recovering from a cash ban that sucked out 86 percent of currency in circulation near the end of last year. And then there's the likely near-term disruptions from the implementation of a nationwide goods and sales tax; indeed the government has already missed an April deadline for putting the tax in place and is now working against the clock to meet its new July 1 goal.
While there is little doubt the GST will be beneficial in the long run, economists are concerned about India's banking system and the overall health of its public finances -- both seen as lightning rods for global credit agencies that already rate Indian debt just above "junk'' status.
Bad loans, restructured debt and advances to companies that can't service their debt have risen to about 16.6 percent of total loans, government data show. That spike in bad loans has forced banks to focus on recovering bad debts. As a result, loan growth has fallen to near record lows, posing a challenge to Prime Minister Narendra Modi's government as it seeks to revive investment and boost employment.
Apart from slowing investment, India's labor productivity has been weakening, limiting growth and employment opportunities.
Labor productivity per person employed eased from 10 percent in 2010 to 4.8 percent in 2016 as reforms sputtered. According to the International Labour Organisation, output per worker is projected at $3,962 for India in 2017, a fraction of Germany's $83,385.
Still, the potential remains. Ranking countries and regions on their gross domestic product, for 2017 and 2022 based on IMF forecasts, India, growing at 9.9 percent a year in nominal terms, will surpass Germany by 2022 as the world's fourth largest economy, with the U.K dropping out of the top five after 2017.
Some seven decades after independence, India may outshine its former colonial master.
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Uk is the most undeserving country which hardly mfrs anything and is purely well off as a commission agent. Living of the sweat of others.
Uk is the most undeserving country which hardly mfrs anything and is purely well off as a commission agent. Living of the sweat of others.
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My point was that uk mfrs nothing substantial but has 80 % service industry which gets a cut for every financial transaction poor countries like pakistan or india makes.Oh boy don't know where to start . You don't have to manufacture anything to be something . The most developed country in the world Norway is hardly a manufacturing giant .
="peacefulguy, post: 9427970, member: 184555"
My point was that uk mfrs nothing substantial but has 80 % service industry which gets a cut for every financial transaction poor countries like pakistan or india makes.
Read about the libor manipulations made by their banks.
They have a undeserving stanglehold with their currencies and financial institutions with no productivity.
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I hope you have included depreciation of pound as well. Exit from EU made it go on a roller coaster ride... Whereas India rupee is appreciating cos of macro economic conditions and yea GST too.This is happening because of Rupee appreciation by 5% in last few months. I wrote one article on it and now it is ha and it is happening now.
https://defence.pk/pdf/threads/indi...-economy-in-2-days-and-nobody-noticed.484549/
I love your imagination you stand by your name.In the long run India will be no. 3 behind US and China both in economic and military terms. Today India is a poor country with only 20-30% of the country propelling the growth story so the potential is huge, imagine the whole country being part of the growth story
I hope you have included depreciation of pound as well. Exit from EU made it go on a roller coaster ride... Whereas India rupee is appreciating cos of macro economic conditions and yea GST too.
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