Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: due date for vat payment :: TDS :: VAT RATES :: empanelment :: ACCOUNTING STANDARDS :: VAT Audit :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: form 3cd
 
 
« News Headlines »
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31

IMF Director: India as a leading power and an economic powerhouse
December, 03rd 2010

IMF Managing Director Dominique Strauss-Kahn, who was on a day's visit here and had meetings with Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee, on Thursday described India as a leading power and an economic powerhouse.

Speaking to the media after his meeting with Mr. Mukherjee, Dr. Strauss-Kahn said: India is becoming one of the leading powers in the world. It is really an economic powerhouse...Your result here in terms of economic growth and also in terms of inclusive growth are really amazing.

Describing his discussions with the Finance Minister as very fruitful and that the relationship between India and the IMF is expanding, Dr. Strauss-Kahn said: The forecast we had in the IMF is exactly what you are following now, which is probably the maximum that the Indian economy can provide these days. So you are running as fast as you can.

Alongside, however, the IMF chief warned that a higher economic growth than what is being achieved could lead to risks such as inflation coupled with a high current account deficit.

IMF projections

In its projections on India, the IMF had estimated an economic growth of 9.7 per cent during 2010 while the government, using a different computation methodology, had conservatively forecast a GDP growth of 8.5 per cent for the current fiscal.

The overall growth for the first half of 2010-11 has been 8.9 per cent.

At the meeting with Mr. Mukherjee, both the leaders held wide ranging discussions on global issues, the current situation in Europe, the risks to the global economy and India's role in the IMF. Lauding the government's role in management of the country's economy, Dr. Strauss-Kahn said time has come for India to play its rightful role in global economic governance while expressing confidence in its handling of capital inflows.

While expressing happiness over India's increasing role in the global economy and in the IMF, Dr. Strauss-Kahn also appreciated that as a fast growing balanced economy focussed on inclusive growth, it has been able to bring millions out of poverty. Technology, especially in the services sector, he said, has been another hallmark of the country's rapid growth and he felt that the emergence of G-20 had changed the rules of the game in international policy cooperation, and that emerging markets like India would increasingly play an important role in the global grouping. Reforms in the IMF to give more voice to the EMDCs, including India, is making the IMF more legitimate, he said.

Mr. Mukherjee, on his part, noted that the broader global recovery was very crucial for the world at large, including India, and hailed the IMF's role during the recent global financial crisis under his stewardship.

India, Mr. Mukherjee said, would play its due role in the G20 and support the process of policy cooperation in addressing external imbalances and development imbalances. He reiterated India's view that global savings need to be recycled to address development imbalances as part of world community addressing global imbalances.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions