This website uses cookies to ensure you have the best experience. Learn more

Economy Today Essay

584 words - 3 pages

NEW DELHI: The economic upturn appears to have truly begun. The latest government data on Monday showed the economy growing by 6.1% year-on-year
| |

| |

during the first quarter (April-June) of the fiscal the fastest for any quarter since the global Error! Hyperlink reference not valid. began almost a year ago making officials expect 6.5% growth this year.

This growth rate means India remains the second-fastest growing major economy after China, which notched almost an 8% growth rate. More importantly, it's an improvement over the 5.8% notched up by India in the previous quarter and 5.3% recorded in the quarter before that.

If there's a shadow of cloud accompanying this brightening sky it's the uncertainty about whether the economy can maintain this momentum in ...view middle of the document...

In contrast, top government officials were gung-ho. "I am glad that the worst may be over and we expect to see improved performance in subsequent quarters. It (the growth figure) is very good, it is consistent with what we were hoping for,'' Planning Commission deputy chairman Montek Singh Ahluwalia told reporters in Delhi.

In Mumbai, Error! Hyperlink reference not valid. secretary Ashok Chawla said with encouraging first quarter growth, the government expects the economy to grow at 6.5% this fiscal. "We expect the growth rate to be 6.5% or above. Growth in the economy was very encouraging and it is expected to improve further going forward,'' he said.

Not everyone, however, was buying this argument. "We are expecting 5.8% for the entire fiscal, which means that growth in the second and third quarters should come down,'' agencies quoted HDFC Bank chief economist Abheek Barua as saying.

Electricity generation and mining output were the best performers as they grew 6.2% and 7.9%, respectively, in the first quarter of this fiscal against 2.7% and 4.6% a year ago. Error! Hyperlink reference not valid., insurance, real estate and business services also expanded 8.1% against 6.9% from a year-ago period. Construction was slightly down at 7.1% from 8.4% and community services at 6.8% from 8.2%.

The services sector, which accounts for more than 57% of the economy's output, grew an annual 7.8% in the first quarter, against 10.2% in the year-ago period. Manufacturing output expanded 3.4% in the June quarter, while farm output was up 2.4%.

The worst-hit sectors were trade, hotels, transport & communication. Together, these sectors posted 8.1% growth in the first quarter this fiscal compared to 13% a year ago. Manufacturing was down to 3.4% against 5.5% and agriculture to 2.4% versus 3%.

Other Essays Like Economy Today

Developing Bahamian Entrepreneurship Essay

671 words - 3 pages be a major help to the Bahamian public’s economic positions and to the country’s as well. Entrepreneurship plays a vital role in the world’s economy today and we can clearly see from the evidence previously stated that it is needed to benefit the economy as a whole. So I answer yes to the question is entrepreneurship necessary for sustained growth in the Bahamas financial sector. Because all around the world we see new

Keynes vs Classical Essay

694 words - 3 pages come up with a “perfect” model that we can use in our world today. First, we should look at some characteristics of both the Classical and the Keynesian models. The classical model assumes that everything goes into the economy. Classical economist believed that all money flows into the economy in some way shape or form. They say that money that is invested in banks, or stocks flows back in the economy through investments. Even when you have

Consumer Behaviour

752 words - 4 pages -term failure. In the 20th century, the former Soviet Union was an example of a command economy. China and India used to also have a command economy. Today, countries using command economy are rare, remaining examples of countries with a command economy include Cuba and North Korea. For example, in the former USSR, state planners decided what was to be produced. They passed orders down to factories, allocating raw materials, workers, and other

Aggregate Demand And Supply Model

1547 words - 7 pages Aggregate Demand and Supply Models Renee Chaplin, Angel Cole, Tamara Northern, Katrina Schreiber, Ryan Shaw ECO/372 November 3, 2014 Alexander Heil Aggregate Demand and Supply Models In order to have a strong economy, you have to have certain elements to keep the U. S. economy going. This paper will discuss four different elements that affect our U. S. economy today. Those four elements are unemployment, expectations, consumer income, and

Good news is in the eye of the beholder <>

370 words - 2 pages the people investing in the stock market today have nothing positive to look forward to, but many negatives surround investments. in the past, money in the market was sound to some sort of profit, but things today are hardly set in stone. the most fear came from the corporate scandals that took place earlier this year. investors can no longer be as naive anymore as to buy, buy, buy, and never stop.the scandal is just part of the problem. all of

The Remarkable Phenomena

583 words - 3 pages Globalization Hello everyone, today my topic is globalization. Globalization is one of the most remarkable phenomena of the late 20th and the early 21st centuries. Globalization of economy is an amazing significance to the globalization of the world. The benefits of globalization of economy are obvious, also creates a number of problem have to face. Next, I will discuss about some different fields with the globalization of economy

Business Incubation

593 words - 3 pages within the United States economy. This has become known as the “industrial age” as well as the “information age.” Certain conditions today has set roles and contribution of firms, new businesses starting up, and small business has made it necessary to regional and also national economies. This known to be part of the realization showing the importance in the business world today and is fix totally in both natural and physical resources as well as

Keynesian and Hayekian Economics

637 words - 3 pages Nik Heckman 10/10/2013 Mr. Buchan Block 2 Keynes and Hayek were two academic economists who had two differing views about what economic policies would pull the U.S. economy out of the Great Depression. What I find interesting is that these two views still have importance today because we’re in a pretty similar situation right now, the only difference is that this time it’s a recession instead of a depression. Keynesian economics says

Monetary Poliocy

1105 words - 5 pages Monetary Policies Daniel Batt University of Phoenix, Harrisburg Monetary policies dictate how the government disperses money in the economy. In this paper I will discuss how money has a purpose and function in an economy. Next, I will discuss how a central bank manages a nation’s monetary system. I will outline the United States most recent monetary policy and its intended direction and give an example of one policy action that the

Swot Analysis

685 words - 3 pages . The current state of the economy shows slow signs of improvement, however, the U.S. is a long way from bouncing back. An outward shift in the supply of capital would jump start the economy again and result in lower interest rates which would ultimately have a positive effect on our standard of living. References Mullaney, T. (2013, August 23). New home sales plunge 13.4%. USA Today. Retrieved September 17, 2013, from Skousen, M. (2010). Chapter 11. In Economic logic. Washington, DC: Capital Press.

Energy Crises - Essay

1033 words - 5 pages ” documentarys (e.g. “An Inconvenient Truth“) even in cinema proves this possibility. Mass media is connected to economy, politics and of course to society as whole. The media of communication or meaning could be “climate protection”. It already touches communication in economy, politics, science, law and education. So a future developement based on today´s awareness is possible. Scientists like Marcel Mazoyer point out that the nutrition of the

Related Papers

Macroecons Great Summary Essay

558 words - 3 pages billion of treasury. Once again, the market responded positively as seen from the increase in US share prices. Slide 4: This cycle repeats itself multiple times till today. We are in the midst of QE4 where the Fed continued buying financial assets at $85billion a month. So by using the stock market as a representation of the economy, we see that the economy is performing much better now than it was at the start of the great recession. However of

Candian Economy Essay

458 words - 2 pages Canada is an affluent, high-tech industrial society, and closely resembles the US in its market-oriented economic system, pattern of production, and high living standards. Today Canada is primarily industrial and urban, compared to its past rural economy. Unemployment is falling and government budget surpluses are being partially devoted to reducing the large debt. The US is one of its most important trading partners so it can keep a strong

The Economy And The Federal Reserve

1248 words - 5 pages previous studies, other indicators should be analyzed also. Economist should not rely on the results of one indicator to determine the state of the economy. Current Yield Curve If economist wanted to determine the state of the economy today using the yield curve, the yield curve spread would be steep shaped which means the economy is at a recession. But other forecast indicators like inflation and the increased percentage rate of

Can A Country Afford To Run Deficits Indefinately?

548 words - 3 pages by contracting the money supply and raising interests. Again, if this is done in too much in this direction, the country will go in to a recession and possibly a depression (take a look at the United States economy today). When a country falls into a recession, this brings higher unemployment. This is caused by products and/or services not being in high demand as much as it was a few years ago. As the demand lowers, so do wages and people