International Economy - Current Affairs for January, 2016

French President Francois Hollande has declared a state of emergency that is asocial and economic for redefining the economic and social model. Hollande has unveiled a euro 2 billion plan to catch up with fast moving economies of the world. As per the scheme, which lasts for two years, companies with less than 250 people will receive 2000 euro bonus for every new employee.

Featured as a bright spot in a gloomy global economy, India has outpaced China as the fastest growing economy in the world in 2015. It is expected to clock 7 to 7.5 percent growth in 2016 provided reform momentum persists and the business environment betters. FM Arun Jaitley has said subdued global economy and moderate private sector investment will posit challenge and top priorities of the New Year include rolling out delayed GST and ensuring further ease of doing business. India will remain off the targeted growth rate of 8 to 10 percent in the coming future until reforms momentum catches pace. India’s economic growth accelerated to 7.4% in July-September quarter overtaking China as the fastest growing economy in the world picking up on manufacturing, services sector and mining.