India to remain fastest growing major economy in next decade: Report
India will remain the fastest growing major economy, much ahead of China, in the next decade 2019-28, according to a global economic research report.
The report prepared by Oxford Economics, which is engaged in global forecasting and quantitative analysis, India is likely to achieve an average growth of 6.5 per cent in 2019-28, the highest among the emerging economies.
India will be followed by the Philippines (5.3 per cent) and Indonesia (5.1 per cent), the report titled 'Emerging Markets Sustained Growth in EMs Calls for Thrift and Innovation' said.
China has been assigned the fourth slot with an average growth rate of 5.1 per cent for the next decade (2019-28).
The report is authored by eminent economist Louis Kuijs.
It pointed out that emerging markets (EMs) with sustained fast growth are distinguished by rapid capital accumulation – mainly domestically financed – and robust total factor productivity (TFP) growth.
According to the report, to avoid the middle income trap (MIT), the upper middle income countries (MICs) in particular need to make progress in terms of 'mastering technology', raising the involvement of firms and/or people in innovation and R&D.
"Major saving is required for sustained rapid growth in emerging economies," it said, adding that TFP growth driven by innovation and R&D, especially in middle income countries.
India is projected to grow at 7.5 per cent in 2019 and 7.7 per cent in 2020, more than China's estimated growth of 6.2 per cent in these two years, according to the International Monetary Fund's recent World Economy Outlook update.
译文来源：三泰虎 http://www.santaihu.com/47105.html 译者：Jessica.Wu
OUR COUNTRY PEOPLE HAVE FAITH IN GODS DON''T ACT MERCILESSLY. FASTEST GROWING N FASTER DOWN FALL IS THE RULERS OF THE GAMES.
Only condition- ''''Politics should not reset things again & again, by which though we might a sense of motion, it is actually a movement of going in circles''''- or, absence or REAL forward motion. [However much we cry for Govt. to have a short-term, a medium term and a long-term program for steady progress in vital sectors like AGRI.- sector, this NDA Govt. badly missed the boat- and now nearer elections, is trying to make amends or, over-compensate, as is usually the case!]
Doesn''t make sense to compare economic growth with countries like China. China grew at more than 10% for almost 20 years. We''ve never done that. That should be the goal of go nment along with job creation, reforming education health care, judiciary, police and reducing co ption big time. Just trumpeting 7% growth rates is useless, we can do much better as a nation!!
It cities and villages families are unable to meet standard of living, selling of properties, assets, loan, moving to rented property, trying new earnings, migration, insecurity is economy business.
Inadequate and below potential. India will be poor this century
Everything is growing fast except salary of Indian Citizens.
Ok Vote for Feku Maharaj on this
That is the reason go nment has started GST. Which everyone has to pay when they buy any goods or avail any service. If everyone pays honestly, then Income tax rates will come down. industries getting loss or bankrupt because either they are incompetent to run their business or they are corrupt.
Raise more resources by increasing taxes. Income tax target raised from Rs10 to 12 crores. Govt spend that money in un-organised sector, where proper accounting cannot be done. Hawkers , plumbers earning Rs1000 per do not pay income tax , get all the benefits like pension, medical benefits , mudra loan, awas yozna, loans without collateral security.Fastest growing economy at what cost. Make every body poor. One of the richest indians Anil Ambani has become bankrupt.