Top Economic news: May 4 – May 13, 2018 – SSC CGL and SSC CPO 2018 Exam

SSC CGL 2018 Exam and SSC CPO 2018 exam are nearing. The preparation for both these exams must be in full swing by now. To assist you further with your preparation of SSC CGL and SSC CPO exams we have compiled Top Economic news: May 4 – May 13, 2018, in this blog for you.

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SSC CGL and SSC CPO – Top Economic news: May 4 – May 13, 2018

  • India slips to 11th spot in AT Kearney FDI Confidence Index 2018 – The index ranked India at the 11th spot, three places down from the previous year. In the year 2017, India was ranked 8th. It is the first time since 2015 that India has been pushed out of the top 10.
  • GST Council approves simplified return filing process – The GST Council, in its 27th meeting on May 4, 2018, approved simplified principles for filing return based on the recommendations of the Group of Ministers on IT simplification.
  • GST Council approves the conversion of GST Network into government holding – The council approved converting of the firm providing IT backbone to the Goods and Services Tax (GST) into a government-owned entity from being a private company. The decision was taken at the end of the 27th meeting of the GST council
  • India tops the list of fastest-growing economies for coming decade: Harvard study – The report stated that India tops the list as the fastest growing country for the coming decade, at 7.9 percent annually, in the economic complexity growth projections.
  • GST, bank balance sheet problems pushed India’s economic growth downward: UN report – As per the UN report, India’s economic growth was pushed downward in 2017 due to the implementation of the Goods and Services Tax (GST) as well as due to issues such as bank balance sheet problems. Moreover, these factors led to the decline in India’s GDP in 2017 to 6.6 percent, from 7.1 percent in 2016.
  • Business Optimism Index: India slips to 6th position globally in the first quarter of 2018 – India was ranked 6th on Global Optimism Index released as part of Grant Thornton’s International Business Report (IBR) in the first quarter of 2018.
  • Walmart buys 77 percent stake in Flipkart – Global retail giant Walmart on May 9, 2018, formally signed a definitive agreement to acquire 77 percent stake in Flipkart with an investment of around USD 16 billion. The deal will value Flipkart at around USD 20.8 billion, up from its previous valuation of USD 12 billion.
  • India to grow 7.4% in 2018: IMF’s Asia & Pacific Regional Economic Outlook report – The International Monetary Fund (IMF) in its Asia and Pacific Regional Economic Outlook report has reaffirmed that India will be the fastest-growing major economy in 2018, with a growth rate of 7.4% and 7.8% in 2019.

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We hope you liked the – Top Economic news: May 4 – May 13, 2018, given in this blog. Top Economic news: May 4 – May 13, 2018 – this blog will prove very useful in your SSC CGL and SSC CPO exam preparation

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