General Awareness

April 04, 2017 @ 01:15 PM

April 04, 2017 @ 01:15 PM

Will decade lowest 5% growth halt economic reforms?

MBA aspirants must be updated with General Awareness on current topics. General awareness topics with analytically drawn conclusions will benefit you in Essay writing   / GD & PI. Today, you will read General Awareness Topic:

Will decade lowest 5% growth halt economic reforms?

In 2012-2013, India’s economy expanded by five percent, which is considered the slowest pace in the last decade. Reasons for this bleak performance include high inflation, lack of confidence among investors, fall in the demand for exports from Western nations and high inflation. 
From the last quarter of 2012 to the first quarter of 2013, the Gross Domestic Product (GDP) grew by 4.8 percent, higher than the previous quarter when the GDP stood at 4.5 percent. 
To boost the economy, the Indian government came up with policies and reforms. Unfortunately, analysts are continuing to witness a drop in economic activities. 
Standard and Poor’s, a global ratings company, declared that India faces a 33 percent chance of losing its current grade rating in light of new threats to the country’s economic reforms and growth. 
Currently, the country’s investment rating stands at ‘BBB-minus’, the lowest among all the other BRICS countries – Brazil, Russia, China and South Africa. 
According to Shubhada Rao, Yes Bank’s Chief Economist, the Indian government needs to come up with more effective policies and reforms to turn around investors’ sentiments. Recently, several government officials were dodged by corruption scandals, making it slightly harder to see through existing economic reforms. 
However, the decade’s lowest economic growth of five percent does not seem to stop the Indian government from making efforts to reform the economy. 
Even the US President Barack Obama urged the Indian government to push for economic reforms to address the concerns of companies in India with regard to H-1B visas.
The Chairman of the US Indian Business Council, Ajay Banga, believes the US and India can work closely to enhance the economic status of both the countries. 
According to him, the US needs to realise and recognise that Indian investments in the US are growing. Currently, they stand at Rp 625 billion (US$ 11 billion) and are a driving force for the creation of jobs for Americans. 
Through these investments, the US is able to facilitate technology transfer too. So, it is in the interest of the US government to increase the number of H-1B visas issued to Indian IT professionals. This is also known as immigration reform, which will ultimately improve India’s economy. 
So, despite problems faced by India in terms of economic growth, it is not hampering the Indian government from implementing further economic reforms. It is true that given the current economic growth status, it is difficult to see through certain reforms. 
However, the Indian government is not losing hope. So far, the government has opened up aviation and retail sectors to increase foreign investments. It has also reduced fuel prices slightly to reduce the burden of subsidies. However, there is more on the government’s plate. It still has to open up insurance and pension sectors, which may pose a challenge.
India is in talks with many countries, including the US, to enhance bilateral ties, increase its export value and increase the amount of investments in the country. 
Although the Indian economy is not performing as well as what was projected by international organisations such as the Organisation for Economic Cooperation and Development, which had predicted that India’s growth, will be 5.9 percent initially, it has not been shattered completely.
The number of economic reforms is increasing and Indians are confident that the economy will be revived slowly but surely.
Read General Awareness Topics, Stay informed and inspired at MBA Rendezvous

Crucial Dates, You Should not Miss

XAT 2018
Application Last Date 30th November 2017
IMI New Delhi
Application closes 4th December 2017
XIM Bhubaneshwar
Last Date 8th December 2017
SIBM Bengaluru
Apply for SNAP 2017 to be held on Dec 17 and apply for SIBM-Bengaluru through the SNAP Form
Institute of Rural Management Anand
IRMASAT will be conducted on February 4,2018, Apply Before December 31,2017
IBSAT 2017
Last date for IBSAT registration is December 12 , 2017
Last date to register for SNAP is 24th November, 2017. Last date for SSBF is 2nd January 2018
SIBM Hyderabad
Apply for SNAP 2017 to be held on Dec 17 and apply for SIBM-Hyderabad through the SNAP Form
K J Somaiya Institute of Management Studies & Research, Mumbai
Last date for Application is 31st Jan, 2018
Application for PGDM 2018-20 at SDMIMD is open till February 28, 2018
Institute of Management Technology
Application closes on November 24, 2017
MDI Murshidabad
Application for PGPM 2018-20 at MDI Murshidabad is open till November 24, 2017

Show More

Admission Open Now

Following Colleges are accepting applications.


Admissions open for 2018-20

PGDM, PGDM (HRM), PGDM(B & FS), Executive PGDM

Apply Online