Sunday, April 22, 2012

Pranab Mukherjee confident India's growth rate would bounce back

WASHINGTON: Minister Pranab Mukherjee on Sunday sought to allay concerns over a slowdown in India's economic growth, exuding confidence that the Indian economy to ride on its strong foundations and resilence to take a high growth trajectory.

Mukherjee pointed out that although the last digit reflects that India's growth has come down, the country still remains the second fastest growing economy in the G-20, with only China.

"In 2008-09 our GDP down to 6.9 per cent, but very quickly we recovered in the next two years and was 8. 4 per cent. Again came down to 6.9 per cent, but the elasticity, basic fundamentals of Indian economy, which all recognizes, high rate of savings, substantial investment coming from the domestic savings itself.

"Therefore, these two basic fundamentals and resilience of the economy clearly shows that Indian economy will grow at a fast pace. There is also an important factor, a huge market, growing purchasing power, growing middle class, the domestic demand driven factors to provide the stimulus to the growth elements in the Indian economy is very strong. So I feel Indian economy would grow more quickly, "Mukherjee said.

Mukherjee addressed a press conference at the end of his Washington visit to attend the annual meeting of the spring International Monetary Fund and the World Bank. Referring to his meetings here, Mukherjee said they shared his view of the recovery of the global economy.

"The U.S. economy is recovering. There are some signs of recovery in Europe, but there has been some downward projection of emerging market economies. But it is expected that 2012 would be relatively good," the minister said in his opening remarks.

Primary consideration this time, both in G-20 and the IMF, it was like to mobilize the resources to improve the fire power of the IMF to intervene in the crisis situation, he said, adding it was agreed that this would be USD 430 billion.


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Why Is Filing Bankruptcy Nashville The Best Route For You

By Melody Lyons


Filing bankruptcy Nashville is a long and strenuous process. IT requires time, consideration and possibly Nashville bankruptcy lawyers or legal aid. Going bankrupt with a chapter 7 will remove most debt, but not alimony, child support, medical bills or student loans.

It is vital for an individual to be eligible before trying to file. Some criteria should be checked before taking the time to file. First it is important that you are a United States citizen. The Means Test must also be taken and passed in order to file for chapter 7. Credit counseling courses are also required for this chapter. A steady income is needed for chapter 13, and you cannot file chapter 7 if a chapter 13 has been filed for you in the previous six months.

There are three chapters that you can choose between before filing. Chapter seven will eliminate almost all of the debt you have except loans, medical bills, child support or alimony. Chapter eleven is used for companies. The final chapter is thirteen and includes making a payment plan and paying your creditors off between three to five years.

If you are concerned about having to file than you may want to hire a lawyer or legal aide. A lawyer will help you fill out the proper paperwork. They will also help you sign up for credit courses and choose the best option for your situation.

When doing bankrupt be sure to remember that liquidation is a must. You will low all of your assets and it will go to your debt. Any property that you have that is not beneficial to your settlement is going to be sold. Also consider the fact that for years it will remain on your record.

Dealing with bankruptcy nashville is important if you are going through financial hardships. Be careful to consider all pros and cons of filing. Also keep in mind that it stays on your record and can stop you from getting approved down the road for lots of stuff like credit cards and apartments.




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