Question: Who published the report titled Growth Outlook for 2019 for Indian economy?
(a) NITI Aayog
(b) Indian Chamber of Commerce
(c) Confederation of Indian Industries
(d) Ministry of Finance
- The Confederation of Indian Industry (CII) published a report titled ‘Growth Outlook for 2019’. In this report CII suggests that the economy will continue to achieve the growth rate ranging around 7.5% in the year of 2019. This would be possible because of the favorable environment which will drive the economy with this growth rate.
- Factors like better demand condition, settled GST implementation, improve credit availability and capacity expansion from increasing investment in infrastructure are the key drivers helping the economy to achieve high growth rate.
- The report also mentions that amid the vulnerabilities of GST implementations and note-ban as well as global trade wars, India did exceptionally well in being fastest growing major economy in the world in 2018.
- It also suggested some reform to the government including simplification of process in doing business like single window systems in state, digitization of land records for better recordkeeping. It also suggested only three tax slabs for GST- a standard rate, a higher rate for demerit goods and lower rate for mass consumption items.
- CII also mentioned the need to solve the issue of Non Performing Assets and suggested opening of additional benches of National Company Law Tribunal to address this issue.
- CII is a non-govt. industry led and managed organization working to create and sustain an environment conducive to the development of India, partnering industry, Government and civil society through advisory and consultative process. It was established in 1895 and is headed by Mr. Rakesh Bharati Mittal.