Gradual economic recovery seen in India: UN ESCAP
New Delhi, May 8:A gradual economic recovery is seen in India, as the corporate sector adjusts to GST and infrastructure spending improves, said a UN report -- Economic and Social Survey of Asia and the Pacific -- on Tuesday.
"A gradual recovery is foreseen in India, according to the report; with private investment being expected to revive as the corporate sector adjusts to GST, infrastructure spending and corporate and bank balance sheets improving with government support," the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) said in a statement here.
As per the report, the 2018 growth rate is expected to moderate in South and South-West Asia, before picking up again in 2019.
"The annual Economic and Social Survey of Asia and the Pacific forecasts economic growth to moderate to 6 per cent in 2018 in South and South-West Asia (from 6.4 per cent in 2017), before picking up to 6.2 per cent in 2019," the statement said.
"South and South-West Asia remains the fastest growing sub-region in Asia-Pacific, according to the survey."
In addition, the report pointed out that due to robust domestic demand and improved global economic prospects, developing economies in the Asia-Pacific region are projected to grow by 5.5 per cent in both 2018 and 2019, with a slight moderation in China offset by a recovery in India and steady performance in the rest of the region.
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Approval of registered housing societies must to operate liquor shops on their premises: Ajit Pawar
Nagpur (PTI): Maharashtra Deputy Chief Minister Ajit Pawar on Wednesday said that shops selling Indian made foreign liquor (IMFL) as well as country liquor will be required to obtain mandatory consent from registered housing societies before commencing operations from the commercial spaces on their premises.
Pawar, who also heads the excise department, directed that this new policy be implemented across the state.
"Permission from registered housing societies will now be compulsory for both categories of liquor shops. The policy must be enforced uniformly throughout Maharashtra," Pawar told the Lower House of the state legislature while responding to a question raised by BJP MLA Shankar Jagtap, who represents the Chinchwad assembly constituency in Pune district.
Jagtap sought cancellation of licences of liquor shops operating in Chinchwad-Kalewadi area of Pune.
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During the discussion, he said that Vikrant Wine, a liquor shop in Sahyadri Society, had begun operations in violation of norms.
The building was incomplete when permission was granted, and the licence had been issued on the basis of incomplete documents, Jagtap said, demanding action against those responsible.
Responding to this, Pawar reiterated the mandatory requirement of the respective housing society's consent for liquor outlets, and informed the House about the action taken regarding the two shops against which complaints had been received.
During the Budget session of the state legislature held in March this year, Pawar had announced that a no-objection certificate (NOC) from housing societies will be mandatory for liquor vends if they wish to migrate to their premises.
Many housing societies have commercial establishments, with some even having liquor vends.
