Modi Led India Poised for Major Economic Reforms


The global economic outlook in the year ahead is expected to squash hopes of impending prosperity, despite a slump in oil prices and projected recovery in high income countries such as the US and Britain.
Besides China’s self-imposed economic slowdown, the Eurozone’s depressing performance and deflation fears in Japan’s recession-hit economy do not inspire confidence.
Thus, the outlook for 2015 appears to be sluggish as it has been since the 2007-2009 financial crisis.
The future may not appear bleak, but it is not rosy either.
“The global economy is at a disconcerting juncture,” World Bank Chief Economist Kaushik Basu warned at the start of the year.
“It is as challenging a moment as it gets for economic forecasting,” he added, speaking at the release of the Global Economic Prospects report for 2015.

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