The reform plans championed by Prime Minister Shinzo Abe, known as Abenomics, are not likely to lift Japan out of sluggish growth, they said, citing the persistent deflationary risks and weak investment growth.
India targets to be a "low-cost economy" by reducing interest rates and transaction cost, Economic Affairs Secretary Shaktikanta Das said Tuesday while projecting a near-8 percent growth for current fiscal.
Finance Minister Arun Jaitley has virtually rebutted RBI Governor Raghuram Rajan's remarks that India is 'one-eyed king in the land of blind' saying compared to the rest of the world, the Indian economy was growing much faster and, in fact, the fastest.
The International Monetary Fund said Tuesday that the global economy faces wide-ranging threats from weak growth and rising protectionism, warning of possible "severe" damage should Britain quit the European Union.
Fitch Ratings expects India to be on the top of the global growth ladder and expanding by 7.7 percent in the current fiscal, a shade higher than the estimated 7.5 percent in the previous year due to higher disposable income and a likelihood of a normal monsoon.
The global economy`s already modest prospects will decline further unless authorities take stronger action to boost growth, the head of the IMF warned on Tuesday, saying the Fund would cut its headline forecasts next week.