Service sector has potential to contribute to achieve target of $5 trillion GDP: Goyal

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Expressing optimism over growth of India’s economy, the minister of Railways, Commerce and Industry Piyush Goyal has said the country’s service sector can help achieve the Central government’s target of $5 trillion Gross Domestic Product (GDP). He said the service sector has the potential to be the largest job creators in the country and over … Read more

India GDP growth at 4.7% in Q2FY20: Ind-Ra

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Fitch group firm India Ratings and Research (Ind-Ra) has said Indian economy may have slowed to 4.7% in second quarter of current financial year (Q2FY20). The 4.7% projection for the second quarter of the current fiscal would mark six consecutive quarters of slowing growth. The Indian economy expanded 5% in April-June, its slowest annual pace … Read more

Growth may have slowed down but economy will never slip into recession: Sitharaman

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Talking about the economic situation of India, Finance Minister Nirmala Sitharaman has said that the growth may have slowed down but the economy will never slip into recession. She added that steps taken by the government post her maiden budget have started bearing fruits and some sectors such as automobiles have shown signs of recovery. … Read more

Auto sector’s problems derived from SC’s order to upgrade to BS-VI emission norms: Sitharaman

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Finance Minister Nirmala Sitharaman has said the problems in the automobile sector are essentially derived because of the Supreme Court’s (SC) order to upgrade to Bharat Stage (BS) VI emission standards, thus resulting in churn in the sector. She said the auto sector is among the industries that are facing headwinds but have responded to … Read more