Read IMF report on progess under NDA: Jaitley
New Delhi, Aug 26 : Referring to the latest International Monetary Fund (IMF) report on India, Finance Minister Arun Jaitley on Sunday said that it was only with NDA coming to power in 2014 that the economy had undergone a transformational change.
In postings over both Twitter and Facebook, Jaitley, who resumed his duties earlier this week, said that a comparison of the data released in 2014 and 2018 proved that high inflation, fiscal deficit and current account deficit, besides a standstill in the infrastructure and power sectors, as well as in allocation of natural resources, were some of the failures of the previous UPA government.
"We have come a long way. The last four years have seen a series of reforms, both legislative and otherwise, which have been carried on by the Government. The system has been substantially cleaned up and made more transparent," Jaitley posted on Facebook.
"Decisiveness has led to easier decision making and made the economy stand out before several other countries. I would urge all to read these two reports (IMF), the copy of which are now publically available," he said.
"The tightening of global liquidity has increased external pressures and heightened the focus on India's macroeconomic imbalances (high inflation, large current account and fiscal deficits) and structural weaknesses (particularly supply bottlenecks in infrastructure, power and mining)," The Finance Minister said regarding the report's references to the situation in 2014.
"Growth is expected to slow to 4.6 per cent this fiscal year, the lowest level in a decade, reflecting global developments and domestic supply constraints. Headline CPI inflation is expected to remain near double digits for the remainder of the fiscal year. The current account deficit is narrowing, driven by a significant improvement in exports, robust remittances flows, and a rapid diminution of gold imports.
"Nonetheless, India has very little room to adopt countercyclical policies, constrained by persistently-high inflation, and sizeable fiscal and external imbalances. Spillovers from renewed external pressures interacting with domestic vulnerabilities are the principal risks," he said referring to the situation in 2018.
"Stability-oriented macroeconomic policies and progress on structural reforms continue to bear fruit. Following disruptions related to the November 2016 currency exchange initiative and the July 2017 goods and service tax (GST) rollout, growth slowed to 6.7 per cent in FY 2017/18, but a recovery is under way led by an investment pickup", he added.
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Indian men's team clinches inaugural Kho Kho World Cup title after women's victory
New Delhi: The Indian men's team beat Nepal 54-36 in the final to win the inaugural Kho Kho World Cup title here on Sunday.
The Indian men's team title came after the women's side were also crowned the champions after defeating Nepal in the final.
The Men in Blue dominated the final against Nepal with captain Pratik Waikar and tournament standout Ramji Kashyap leading from the front.
Attacking first, an exceptional sky dive by Ramji Kashyap got Nepal's Suraj Pujara. Suyash Gargate then touched Bharat Sahu to give India a great start with 10 points in just four minutes.
Sky dives were the name of the game for the Men in Blue, and this ensured a bright start for the side in Turn 1, preventing the Dream Run for their opponents. At the end of the turn, the scoreline was 26-0 in favour of the Indians.
In Turn 2, Nepal were not able to match India's levels but did prevent the home side from going on a single Dream Run.
Aditya Ganpule and skipper Pratik Waikar carried the team through this turn, and despite regular touches from the likes of Janak Chand and Suraj Pujara, India carried a 26-18 lead into the second half of the clash.
India were in their stride in Turn 3, displaying unwavering confidence throughout. Captain Pratik Waikar shone on the mat with multiple sky dives, and with the support of Ramji Kashyap, another star of the tournament.
Aditya Ganpule was also at his finest, and the home team's collective effort took the score to 54-18 entering the final turn of the match -- and the tournament.
Nepal fought hard in Turn 4 in their bid to come back against India. But the defenders, once again led by Pratik Waikar and Sachin Bhargo proved too strong. Mehul and Suman Barman were equally impressive.
India showcased their dominance throughout the tournament, beginning with convincing victories over Brazil, Peru and Bhutan in the group stages. Their momentum continued through the knockout rounds, where they outclassed Bangladesh in the quarterfinals before overcoming a strong South African side in the semifinals.
MEN'S & WOMEN'S KHO KHO TEAM WON THE WORLD CUP
— SPORTS ARENA🇮🇳 (@SportsArena1234) January 19, 2025
Men's Kho Kho Team won the title defeating 🇳🇵 54-36.
Women's Kho Kho Team clinched the World Cup title defeating 🇳🇵 74-40. pic.twitter.com/9ruJ79IKJ6
