IMF predicts India will hit 7.5% growth, overtake China
- The International Monetary Fund on Tuesday forecast India’s growth to strengthen from 7.2% in 2014 to 7.5% in both 2015 and 2016, overtaking China’s growth — for the first time since 1999 — that it projected will slow down to 6.8%.
- The World Bank too projected India’s growth to accelerate to 7.5%in 2015, but added that on the back of significant acceleration of investment, growth could even reach 8% in 2017-18. The country is attempting to shift from consumption to investment-led growth, at a time when China is undergoing the opposite transition, the Bank said in its bi-annual South Asia Economic Focus report.
- Switching sides to support Net neutrality, e-commerce major Flipkart decided on April 14 not to join Airtel Zero, which offers subscribers free browsing of websites of companies that join the platform for a fee.
- The proposed tie-up was in the eye of a storm as it raised questions on the need to maintain equal Internet access to all. Net neutrality provides for equal treatment of all traffic; any priority given to an application or company for payments made amounts to a violation of the concept.
- “We will be walking away from the discussions with Airtel for Airtel Zero,” Flipkart said. “We were in the midst of discussions, and ... have pulled out of that. We, at Flipkart, have always strongly believed in the concept of Net neutrality.”
- Airtel said, “The statement by Flipkart regarding their decision not to offer toll-free data service to customers is consistent with our stand that Airtel Zero is not a tariff proposition. It is merely an open platform for content providers to provide toll-free data services.”