Page 14 - Banking Finance February 2022

ROUNDUP

per annum currently, Union minister "We hope that a relatively modest come from divestment of strategic and
Nitin Gadkari said. adjustment to the tiller will bring the non-strategic sales, besides OFS and
Addressing an event here, the road non-transitory elements under control. employee OFS route of NMDC, Hudco
transport and highways minister said If not, then the world will need to and Hindustan Copper Ltd.
that there is a huge opportunity for in- brace itself for a recession in 2023 or
vestors in India's infrastructure sector as 2024." India to pip Japan as
the traffic density is rising every year. The report showed Germany was on Asia's 2nd largest economy
"Our (state-owned NHAI's) current toll track to overtake Japan in terms of by 2030
income is Rs 40,000 crore. It will rise economic output in 2033. Russia could
to Rs 1.40 lakh crore in the next three become a Top 10 economy by 2036 India is likely to overtake Japan as
years," he said. and Indonesia looks on track for ninth Asia's second-largest economy by 2030
Inviting investments in the infrastruc- place in 2034. when its GDP is also projected to sur-
ture sector, Gadkari said that size of pass that of Germany and the U.K. to
Indian economy is rising, so naturally, Govt receives bumper rank as the world's No.3, IHS Markit
said in a report.
internal rate of return on infrastruc- dividend from Coal India,
ture projects is also rising. Currently, India is the sixth-largest
other PSUs economy, behind the U.S., China, Ja-
The Union minister said conciliation
committees should decide cases related The government received Rs. 3,668 pan, Germany and the U.K.
to road infrastructure projects within crore from Coal India as dividend "India's nominal GDP... is forecast to
three months, as delay in the decision tranche, taking the total proceeds rise from $2.7 trillion in 2021 to $8.4
making process results in higher costs. from dividend from public sector enter- trillion by 2030," IHS Markit said. "This
prises to over Rs. 33,479 crore for FY22 rapid pace of economic expansion
World economy to top so far. would result in the size of Indian GDP
$100tn in 2022 for first It also received Rs. 21 crore, Rs. 48 exceeding Japanese GDP by 2030,

time: Report crore, Rs. 69 crore and Rs. 23 crore making India the second-largest
from Telecommunications India Ltd, economy in the Asia-Pacific region." By
The world's economic output will ex- IRCON, RITES and NIIFL as dividend 2030, the Indian economy would also
ceed $100 trillion for the first time next tranches. Filed.
year and it will take China a little be larger in size than the largest West-
longer than previously thought to over- "Government has received about Rs. ern European economies of Germany,
take the United States as the No.1 3668 crore from Coal India Ltd and Rs. France and the U.K. The long-term
economy, a report showed. 21 crore from Telecommunications In- outlook for the Indian economy is
dia Ltd as dividend tranches," secretary supported by a number of key growth
British consultancy Cebr predicted drivers.
China will become the world's top of the department of investment and
economy in dollar terms in 2030, two public asset management (DIPAM) "An important positive factor for India
years later than forecast in last year's Tuhin Kanta Pandey said in a Twitter is its large and fast-growing middle
World Economic League Table report. post. class, which is helping to drive con-
India looks set to overtake France next "Government has respectively re- sumer spending," IHS Markit said, fore-
year and then Britain in 2023 to regain ceived about Rs. 48 crore, Rs. 69 crore casting that the country's consumption
its place as the world's sixth biggest and Rs. 23 crore from IRCON, RITES expenditure will double from $1.5 tril-
economy, Cebr said. and NIIFL as dividend tranches," he lion in 2020 to $3 trillion by 2030.
added.
"The important issue for the 2020s is For the full fiscal year 2021-22, India's
how the world economies cope with The government has so far received a real GDP growth rate is projected to
inflation, which has now reached 6.8% total of Rs. 42,809.48 crore from pro- be 8.2%, rebounding from the severe
in the U.S.," said Cebr deputy chairman ceeds of disinvestment and dividends, contraction of 7.3% year-on-year in
Douglas McWilliams. of which only Rs. 9,329.9 crore has 2020-21, IHS Markit said.

14 | 2022 | FEBRUARY | BANKING FINANCE