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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Shreyas Iyer becomes most expensive IPL buy at Rs 26.75 crore, goes to PBKS
Jeddah (Saudi Arabia) (PTI): India batter Shreyas Iyer became the most expensive player in the history of IPL as Punjab Kings broke the bank to buy him for Rs 26.75 crore in the tournament's mega auction here on Sunday.
Iyer surpassed the record held by Australian pacer Mitchell Starc, who was bought by Kolkata Knight Riders for Rs 24.75 crore in the last auction.
Among others, Left-arm seamer Arshdeep Singh's consistency earned him a massive bid of Rs 18 crore, also from Punjab Kings via the Right to Match card, while South African speedster Kagiso Rabada was bought for Rs 10.75 crore by Gujarat Titans.
Iyer, the former Kolkata Knight Riders captain, started with a base price of Rs two crore.
Delhi Capitals had the bid at Rs 26 crore for him but PBKS raised the amount to get the player.
Chennai Super Kings started with the first bid for Arshdeep, whose base price was also Rs two crore.
Eventually, after an intense bidding war, the seamer was bought back by Punjab, who exercised the right to match option to complete the deal, having released him earlier.
This is the second time an IPL auction is being held outside the country after last year's event in Dubai.
