MAJOR EVENTS THAT HAPPENED IN INDIA IN LAST TWO YEARS!

India is country where a lots of things happen in a financial years in all the fields.But in last two years  lots of major things happened specially in the corporate field. From macro events,micro developments to global headwinds,the country has seen it all.

      Here is the list of some major happenings in last two years specially in economic sector.

  1. GOODS AND SERVICE TAX(GST):

          GST took India by storm. Implementation of GST was a much debated topic and companies spent sleepless nights overhauling their existing systems to align with the new tax regime. After a long waiting of 1 years it got mixed response.In the one side GST reduces the hidden taxes but on the other side people had a complain that our country is not fully ready for this types of taxes.For some people it is a confusing thing,but some other people are there who thinks its a good decision by the government towards the development of India's economy.

2. BANKING SECTOR FRAUDS:

         As per the report of Proxy advisory firm,Institutional Investor Advisory Service,the Indian banking sector has lost about Rs.18,170 to frauds in Financial Year 2017-18.Top banks like Punjab National Bank,HDFC bank, Bank Of Maharastra, ICICI bank etc. have huge number of cases.This types of frauds calls for an urgent internal control management for banking sector.The audit policy of banks needs to be strengthened by plugging in process gaps and rationalization checks and balances.

3.PUBLIC ISSUES:

       The financial year 2017-18 witnessed mobilisation of Rs.1.77 lakh crore through public issues.This is even more than the highest which was seen back in 2009-10.The largest IPO of the year was that of General Insurance Corporation which raised Rs.11,257 crore,while the largest SME IPO of the year was of East India Securities which raised a capital of Rs.88 crore.

4. FADING SHEEN OF INDIAN IT SECTOR:

Once touted as the sunshine sector, the Indian IT sector has apparently bitten dust. Though it is too early to conclude anything, the developments of last year have been far from encouraging. The Indian IT sector were in news for all wrong reasons. While mass layoffs made them unpopular, underlying issues such as curve on US H1B visa, dependence in US and EU for business, stronger Rupee and technological dis-reputation have lead to the downhill journey of Indian IT sector. Neutrally, this witness was reflected in their stock prices too.

5. MAJOR CHANGES IN TELECOM SECTOR:

Last two years has been a landmark year for the Indian telecom sector. After the launch of Reliance Jio in the late part of 2016, the telecom sector has witnessed intense competition, massive churning of subscribers and pricing wars. As a result there was consolidation like never before and there are only  three four big names left in the market. This is about to change the market structure from a perfect competition to a more oligopolistic one. Experts has an opinion that the future of Indian telecom will be marked by sustained structure and competition for better services.

6. INDIA'S ECONOMY GROWS FASTER THAN CHINA:

For the quarter ended December 2017, the GDP in India grew 7.2%, overtaking China's growth in the same period at 6.5%. This clearly indicated recovery of the nation following the slump in the first half of 2017. It is encouraging that IMF predicts this growth  to be 7.4%.

It is expected that in the coming years India may face different economic difficulties due to it's upcoming elections and the rising price of oil in the international market. India's GDP may drop by some percent due to low prices of it's product in share market. Prices of petrol and diesel may also increase in coming years.