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Title

INDIA - ECONOMY

Global Competitive Index

Title

INDIA - ECONOMY

Date-wise Events

September 28, 2016:
- Global Competitiveness Index, GCI 2016-17:
  - India has jumped 16 places in Global Competitiveness Index, GCI 2016-17 released by the World Economic Forum. For the second year in a row, India climbed 16 positions to occupy the 39th spot out of 138 countries which were reviewed. Switzerland, Singapore and the US remain as the world's most competitive economies. China ranks 28 in the index. Among the other BRICS nations, Russia is ranked 43rd, South Africa is at 47 and Brazil at 81. In the report, India showed biggest improvement in rankings as its competitiveness improved on several fronts including efficiency in goods market, business sophistication and innovation.
December 19, 2016:
- Economy Size:
  - In over 150 years Indian economy size surpassed that of United Kingdom. So India became the 5th largest economy in the world after USA, China, Japan and Germany.

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Foreign Direct Investment (FDI)

Title

INDIA - ECONOMY - Foreign Direct Investments (FDI)

Date-wise Events

June 20, 2016:
- FDI norms
  - eased in Aviation, Pharma and Defence sectors.
    - Under the new norms, 74 per cent FDI would be allowed in pharma sector under the automatic route, which means that investors will not need government's approval to invest up to 74 per cent in existing companies. Currently, FDI up to 100 per cent is permitted in new projects in the pharmaceutical sector.
    - The government also allowed 100 per cent FDI in scheduled airlines. Foreign airlines are currently allowed to own only 49 per cent in a local airline.
    - In the crucial defence sector, foreign companies can own 100 per cent equity, according to the latest rules.
    - The government had last year relaxed FDI norms in about dozen sectors, a move that helped FDI flows to hit an all-time high of $40 billion in 2015-16.

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Smart Cities Project

Title

INDIA - ECONOMY - Smart City Projects

Date-wise Events

August 27, 2015:
- List of 98 cities released.
  - The government on 27 Aug 2015 finally declared its plans to convert 98 Indian cities into Smart Cities. The Centre has earmarked Rs 48,000 crore for development of 100 smart cities. Some of the lesser-known cities and municipal areas such as Bihar Sharif in Bihar, Moradabad and Saharanpur in Uttar Pradesh, Dharamsala in Himachal, Shivamogga in Karnataka were nominated by the states. In the first phase, the Centre will pick 20 cities and in the next two years, 40 cities each will be selected for receiving the central funding of Rs 500 crore spread over the next five years. Each Smart City would get a Central assistance of Rs 100 crore per year for five years.

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Capital Market

Title

INDIA - ECONOMY - Capital Market

Date-wise Events

Nov-05, 2014:
- The Bombay Stock Exchange (BSE) Equity index, viz. SENSEX, crossed the figure of 28000 for the first time ever, on this day.
October 29, 2007:
- On this day, the Bombay Stock Exchange (BSE) Index, SENSEX, surpassed the 20,000 points mark for the first time in its history.
October 30, 2006:
- On this day, the Bombay Stock Exchange (BSE) SENSEX surpassed the 13,000 points mark for the first time in its history.

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