NEW DELHI: India probably gathered momentum to hold its ranking as the world’s fastest growing large economy in the quarter through March, giving Prime Minister Narendra Modi more to celebrate after completing two years in office last week.
Modi swept to power promising to revitalise Asia’s third-largest economy and, despite a dearth of private investment and shrinking exports, his policies are having some success as cooling inflation and lower interest rates have boosted consumer demand. A Reuters survey of economists expected data out on Tuesday will show India’s gross domestic product grew 7.5 per cent year-on-year between January and March, faster than the previous quarter’s 7.3pc.
“This 7.5pc growth, in a global slowdown environment, has a potential to pick up even more,” Finance Minister Arun Jaitley said last week in general comments about the trends.
India’s upbeat outlook contrasts with neighbouring China, where growth slipped to 6.7 in the first quarter – the slowest posted by the world’s second largest economy in seven years.
Read more » DAWN
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By Joseph Parilla and Jesus Leal Trujillo
With only 20 percent of the population, the world’s 300 largest metropolitan economies account for nearly half of global economic output. Through our new Global Metro Monitorreport and interactive, users can understand the individual trajectories of the world’s large metropolitan economies and gain new insights into sources of growth that national or regional assessments tend to obscure.
The fastest growing metro areas this year, as measured by our economic performance index that combines employment and GDP per capita growth, are concentrated in China, Turkey and the Middle East.
Read more » Brrokings
See more » http://www.brookings.edu/blogs/the-avenue/posts/2015/02/10-worlds-10-fastest-growing-metropolitan-areas-parilla-trujillo?cid=00900015020089101US0001-02241
Bolivia has reduced poverty and inequality more than any country in the Western Hemisphere over the last ten years by increasing the minimum wage 87%, doubling investment in schools and healthcare, and lowering the pension retirement age from 65 to 60. The government paid for these programs by increasing taxes on oil profits from 18% to 82%, which also allowed the country to eliminate its debt and amass the world’s largest surplus. Bolivia is now estimated to have the region’s fastest growing economy this year and next, according to the IMF.
See more » http://www.theguardian.com/commentisfree/2014/oct/14/evo-morales-reelected-socialism-doesnt-damage-economies-bolivia
Learn more » http://www.cepr.net/index.php/blogs/the-americas-blog/bolivias-economy-under-evo-in-10-graphs