Booster doses for economic growth: Identifying key sectors for policy attention and containing the Fisc will create conditions for faster growth

Abstract

The global economy grew slowly at 3.2 per cent in 2012 as compared to 3.9 per cent in 2011, and is projected to grow by 3.5 per cent in 2013, according to the International Monetary Fund (IMF’s) most recent update to the World Economic Outlook (WEO) in October 2012. The growth rates for 2013 in most of the countries, both advanced and major emerging, have been revised downwards from the projections made in October 2012. The growth rates for many countries in the euro area and the US have also been revised downwards. In the emerging markets, downward revision in the projections have been made for Brazil, India, Russia, and South Africa, while the projections have been held steady for China and Mexico. The update mentions that the space for further policy easing has diminished, while supply bottlenecks and policy uncertainty have hampered growth in some economies, specifically mentioning Brazil and India. Read more at: https://www.business-standard.com/article/opinion/arvind-virmani-charan-singh-booster-doses-for-economic-growth-113013000079_1.html