Wait...
  1. Home >
  2. Export Import News >
  3. Economy News >
  4. India has potential to become a $10 trillion economy by 2030: Official >
  5. India has potential to become a $10 trillion economy by 2030: Official

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

India has potential to become a $10 trillion economy by 2030: Official.


Date: 20-06-2018
Subject: India has potential to become a $10 trillion economy by 2030: Official
India has the potential to become a $10 trillion economy by 2030, a top government official said on Tuesday.

According to Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of Finance: “It is a plausible aspiration for India to become a $10 trillion economy by 2030.”

Garg who was addressing the “6th Growth Net Summit” organised by Ananta Centre, Confederation of Indian Industry (CII) and Smadja and Smadja in New Delhi said a “sustained” average growth of 8 per cent coupled with an assumed devaluation of Indian rupee vis-à-vis US dollar at Re one per year would likely take India to the stated target.

On fiscal management, he said the fiscal situation will not be allowed to deteriorate even though this is an election year.

Besides, he said that India would shortly achieve the targeted three per cent fiscal deficit level and that it will be more permanent and sustainable in nature.

In terms of macros, Garg said that tax to GDP ratio has improved from 10 per cent to 11.6 per cent, and fresh private capital investment is likely as capacity utilisation has increased.

Commenting on the banking sector, ha said that great level of financialisation of the economy has happened since demonetisation where mutual funds have become a major non-banking investor. He predicted that going forward, the economy will rebalance from bank-based to financial markets based lending.

Garg said that GST has changed the way corporates interact with the tax infrastructure. He expressed satisfaction with ‘job creation’ in the economy and highlighted that more needs to be done in infrastructure and manufacturing sector.

Source: financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 13-12-2019
Notification No. 68/2019 – Central Tax
Seeks to carry out changes in the CGST Rules, 2017.

Date: 13-12-2019
Notification No. 69/2019 – Central Tax
Seeks to notify the common portal for the purpose of e-invoice.

Date: 13-12-2019
Notification No. 70/2019 – Central Tax
Seeks to notify the class of registered person required to issue e-invoice.

Date: 13-12-2019
Notification No. 71/2019 – Central Tax
Seeks to give effect to the provisions of rule 46 of the CGST Rules, 2017.

Date: 13-12-2019
Notification No. 72/2019 – Central Tax
Seeks to notify the class of registered person required to issue invoice having QR Code.

Date: 13-12-2019
Notification No. 90/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver - reg.

Date: 12-12-2019
TRADE NOTICE No. 41/2019-20
Online filling and Issuance of Preferential Certificate of Origin under SAFTA and SAPTA for India's Exports to Nepal w.e.f. 18th December 2019

Date: 12-12-2019
Notification No. 35/2015-2020
Amendment in Para 2.25 of Foreign Trade Policy, 2015-20.

Date: 12-12-2019
Notification No. 63/2019 – Central Tax
Seeks to extend the due date for furnishing of return in FORM GSTR-1 for registered persons in Jammu and Kashmir having aggregate turnover more than 1.5 crore rupees for the months of July, 2019 to September, 2019

Date: 12-12-2019
Notification No. 64/2019 – Central Tax
Seeks to extend the due date for furnishing of return in FORM GSTR-1 for registered persons in Jammu and Kashmir having aggregate turnover more than 1.5 crore rupees for the month of October, 2019.



Exim Guru Copyright © 1999-2019 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001