According to the IMF latest report, India is projected to clock an economic growth of 7.5 % in the FY 2019-20, on strengthening of investment and robust private consumption. Current account deficit is projected to widen further to 2.6 % of GDP.
Headline inflation is projected to rise to 5.2 %.
Government will shortly unveil a new industrial policy that aims to speed up regulatory reforms and lower power tariffs to make businesses more competitive.The overarching body like GST will be established.
Commerce and Industry Minister-Suresh Prabhu.
Michelle Bachelet, Chile's twice-serving president has been appointed as the new chief of UN human rights by UN Secretary-General Antonio Guterres. She will replace Zeid Ra'ad Al Hussein of Jordan.
She also served in 2010 as the first director of UN Women.
Insurance Regulatory and Development Authority has relaxed the rules on pension products and allowed policyholders to completely withdraw smaller amounts accumulated through pension products.
IRDAI Chairman-Subhash Chandra Khuntia.
The Competition Commission of India (CCI) approved the acquisition of Flipkart by US-based Walmart, three months after the acquisition plan. Acc. to CCI proposed combination is not likely to have an appreciable adverse effect on competition in India.
CCI Chairman- Devender Kumar Sikri.
Reliance Industries has surpassed IT major Tata Consultancy Services (TCS) to clinch the status of the most valued company by market capitalisation. RIL's market valuation stood at Rs 7,71,450.43 crore.
Mukesh D. Ambani – Chairman, RIL
India Post Payments Bank will partner with banks and other financial companies to offer loans, mutual funds and insurance policies to its customers.
It will sell some of PNB products, including loans & has partnered Bajaj Allianz for insurance.
By December, countries all Post offices will be linked to IPPB.
The Reserve Bank of India (RBI) will transfer ₹50,000 crore of its surplus money to the government, in a partial relief for the latter struggling to replenish public sector banks.It will provide more elbow room to infuse capital into the banks it owns.
RBI Governor-Urjit Patel, Founded -1935
SBI has launched a new device Multi Option Payment Acceptance Device (MOPAD), a Point of Sale (PoS) terminal. It will facilitate transactions from cards to QR code based payments.It accepts payments through UPI, Bharat QR, and SBI Buddy along with cards.
Rajnish Kumar-SBI Chairman
According to govt report, the average per capita in the country over the last four years has been higher at approximately Rs 80,000 per person as compared to earlier fiscals.
The per capita income from FY12 to FY15 was roughly Rs 67,594.
Per capita income- gauge for measuring living standard.