The World Economic Forum annual meeting for 2015 is being conducted in Davos, Switzerland. From India, Union Finance Minister Arun Jaitley led a team comprising Power Minister Piyush Goyal, Industry Secretary Amitabh Kant, Chief Ministers of Maharashtra and Andhra Pradesh, and Chief Economic Adviser Arvind Subramanian.
In the meeting, the Finance Minister has said “5.5% growth was much below the real capacity of India and the target was to get back to 8-9% growth rate”.
In 2012-13 and 2013-14, India’s economic growth fell drastically to below 5%. During the current financial year, the country’s economy is expected to recover and clock a growth rate of 5.5 per cent.
Knowledge is Wealth
- The World Economic Forum (WEF) was formed in 1971 and it’s HQ is Cologny, Switzerland.
- The WEF was formerly called as European Management Forum.
- The current Executive Chairman of WEF is Klaus Schwab.
- The Annual Meeting happens every year at the end of January in Davos, Switzerland.
- The theme for this year is ‘The New Global Context‘.