The prospect of Prime Minister- designate Narendra Modi leading India’s most stable government in three decades has prompted economists to raise growth forecasts in the world’s second-most populous nation.
India may overtake China as the world’s fastest growing major economy by 2015, as the South Asian nation doubles infrastructure investment and adds six-fold more workers than its northern neighbor, Morgan Stanley said.
India’s current-account deficit narrowed to a fresh four-year low as gold imports cooled, offering a potential boost for the rupee even as economists said the gap may widen again if the economy improves.
India’s latest economic data and a renewed bid to pare a record current-account deficit that’s spurred a rupee slide show stagflation conditions persist almost a year after the government started a drive to revive investment.
Kamal Chand takes a break from watering his wheat field to sit under a banyan tree and flick through advertisements for motorbikes. Rising welfare payments have turned the Indian farmer’s dream of owning one into reality.
U.S. stocks tumbled, sending the Dow Jones Industrial Average down more than 400 points for the fourth time this month, on concern the global economy is slowing and speculation that European banks lack enough capital.