The global economy is projected to grow 6.0 percent in 2021 and 4.9 percent in 2022. Prospects for emerging markets and developing economies have been marked down for 2021, especially for Emerging Asia.
If India plans to double its economy to $5 trillion (Rs 350 lakh crore) by 2022 as Prime Minister Narendra Modi stated in August 2018 and grow at 8% per year as he predicted, it will need to invest more in health and education.
In India, the economic recovery is underway. Indian exports in July 2021 increased by 47.91% to $ 35.17 billion. India's manufacturing sector rebounded in July. The PMI of industrial productions was 55.3 in July as against in June 2021 when it was just 48.1. Should the pandemic continue to recede we expect a 9.7% annual increase in industrial production in the calendar year. GST collections are 25% higher to Rs. 1,16,393 crores in July2021. The unemployment rate in July has also come down 6.95%in July from 9.17% in June 2021 and 11.90% in May 2021.
Articles are invited free of charge on the following topics for the October issue of the journal. Submit by 30th September 2021. First come, first served.
Limited Liability Partnership Amendment
Deposit insurance Amendment
Retro Tax Law scrapped in India
Changes to Insolvency Law
Gig workers welfare
Global pandemic situation and the possibility of occurrence of the THIRD WAVE
Double taxation sword on tech companies
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