Withdrawal, india will reveal how much growth has stalled since its controversial demonetisation programme. Sg connectivity what is its True Potential . Rory cellanjones has been finding out at the mobile World Congress in barcelona. Welcome to World Business report. Im sally bundock. In a minute well hear more about a tie up between two huge government backed companies. But first, could india become the engine which drives the Global Economy . The worlds second most populated country has attracted the attention of companies and governments, all keen to make the most of the opportunities. In a few hours well find out exactly how fast the economy is growing as india gives us their first gdp reading since novembers radical demonetisation experiment. Investors will be comparing it to the 7. 3 growth seen in the three months from july to september last year, but economists dont expect the figure to be so high this time around. And thats mainly due to the governments surprise move on November The 8th to replace about 86 of the banknotes in circulation. This has had a huge impact in india, where 9 out of 10 transactions are made in cash. Its one of a number of reforms which are historic and are bearing fruit, according to a newly released report from the organisation for economic co operation and development. One of the other positives that the oecd picks out is the comprehensive tax reform that Prime MinisterNarendra Modis government is putting into place. We have spoken about this at length, the detail and the chaos caused by that move in november. Today we will find out the impact on the economy . Thats right. It is the first real data that will be coming out and that will give some to how that experimental exercise in pak are the indian economy. Impacted the indian economy. Impacted the indian economy. Impacted the indian economy. The government put the ban in place in the first week of november. After that, businesses took a hit. Consumer spending was hit. Demand went down. That is why most economists have been really struggling to gauge how much it has really hurt the economy. This data is going to be very, very important in that sense. The bbcs Economics Editor spoke to indias Finance Minister and asked him why the government had to take the step, and how it had impacted the economy. inaudible . 0k, clearly we cannot hear that interview, which is a shame. Maybe we will get that soundbite later on. But just shame. Maybe we will get that soundbite later on. Butjust give us a sense of what he said to our Economics Editor, because it has been very controversial, hasnt it . Because many Rural Farmers and been very controversial, hasnt it . Because many ruralfarmers and Rural Communities have really suffered since the government made that move. That is right. It was a very controversial move, one of the biggest Economic Reforms in the last 60 or 70 years. But the minister defended the decision. He said it was imperative because there was a high level of corruption, and the whole intention was to bring down the amount of untaxed wealth in the economy, the black economy, or black wealth, as it is called in india. It isa wealth, as it is called in india. It is a huge component of the economy, it is also referred to as the parallel economy. Some people say it is as high as 70 of the countrys entire gdp. The Prime Minister says this will clamp down on the number of people who do not pay tax, which isa of people who do not pay tax, which is a very small number in india, and the about i of the population pays tax. The government says it will help crack down on those people who do not pay tax, and bring them under the law, and strict action can be taken against them. But i think the key question is what happens in the long term, the medium to long term. That is where the government is quite confident. Even this latest report that has come out talks about that, that some of the reforms the government has taken are on the right track, and really the impact of this band is going to be short term, 6 8 months. But can india bounce back after that . That is the big question, and we will the a nswer is the big question, and we will the answer today. 0k, thank you. You will keep this up to date today, because those numbers are coming through in a few hours. As you can tell, this is very much a Live Programme here at bbc world news, instead not always go to plan. But that interview with the countrys Finance Minister, you will hear that later on today, but you can also catch it online as well, it is on oui catch it online as well, it is on our website. Now more from the mobile World Congress in barcelona. As you know, our Technology CorrespondentRory Cellan Jones is there, and has been finding out about the potential of 5g connectivity. Sg 5g is the term everybody is handy in around here at mobile World Congress. There is a lot of hype around the next generation of mobile phone networks. Intel has gone as far as to build an experimental 5g network at it stands to illustrate the possible uses of it. There is a d riverless the possible uses of it. There is a driverless car demonstration, the theory being that lots and lots of data will be produced by cars like that. They will need the kind of Data Capacity that 5g can offer. Your whole home will be connected to the internet, and as i said, there isa the internet, and as i said, there is a lot of hype around it and i have been speaking to intels i share evidence about whether that is really justified. For consumers, share evidence about whether that is reallyjustified. For consumers, i would like them to think about what life was like about smartphones without smartphones. Start with that. Smartphones allow consumers to talk to each other, to get onto the internet, but all of the other things around the consumers today are not connected. Cars, for example, are not connected. That is going to be on the network, that is going to be on the network, that is going to be on the network, that is going to have live maps, driving around ina going to have live maps, driving around in a smart city. You are also going to have a distribution of media that today is not possible, in terms of video. All of those things are coming. We were promised all of that with four g. Four g is still rolling out for people. What is the difference between four g and 5g. Is it simply speed . It is speed, and it is also getting the Network Ready for the other machines coming onto the network. 4g is really about Data Communication onto the internet. It doesnt allow robotics, it doesnt allow autonomous driving, like if the majority of cars are autonomous. It doesnt deliver all of that bandwidth yet. 5g gets us ready for that next step. And is it actually going to come as quickly as some people seem to think . Arent they going to be delays . Arent they going to be delays . Arent they going to be arguments over standards, over what the right Technology Actually is . Yes, it is. We are going to have delays. We are going to arguments and physics issues. You know what . It is going to come fast. In 2020 youll start seeing commercial deployments. Yes, there will be delays. It is never as fast as the wireless people say, but it will be much quicker than it took the ag. Some of you may not even have three g yet, depending on where you are watching us around the world. 7 billion. Thats how much saudi arabias State Oilfirm is investing in an Oil Refinery Set Up by malaysias state oil company petronas. The deal comes as the Saudi King Salman arrived in kuala lumpur to kick off a multi nation tour aimed at boosting economic ties with asia. Sharanjit leyl joins us from our Asia Business hub. Quite exciting, isnt it . Two powerhouses coming together, Big Investments by saudi arabia into malaysia. That is right, so big that it makes saudi arabias state oil firm the single biggest investor into malaysia. 0f firm the single biggest investor into malaysia. Of course, this deal is between them and the malaysian state owned Energy Company petronas. They are investing in this huge Refinery Project in southern malaysia. What is interesting is that this marks a dramatic reversal from earlier this year when we heard from earlier this year when we heard from Industry Sources that the deal was off, that had planned to pull out of this deal at the time. Aramco had planned. But petronas and aramco had planned. But petronas and aramco executives are now scheduled to sign the agreement today, and they are saying that petronas may have had to make some concessions in order to make this huge deal happen. Thank you, good to see you. Lets show you the financial markets, because once again they are making the lines. In the united states, a record close for the Dowjones Industrial Average for the 12th Day Ina Industrial Average for the 12th day in a row. The biggest winning streak. And like 30 years. Asia has a mixed response to that at the moment. But we can show you that the us is all in anticipation of Donald Trumps speech later today, and his ambitions and plans for the worlds guest economy. I will see you soon. A new wave of Industrial Action in jails in england and wales will begin tomorrow. The Prison Officers Association has told its members to withdraw from voluntary duties in a dispute over pay and pensions. The government is thought to be considering taking the union to court. Holly hamilton reports. Allow on the frontline of a Prison Service that is struggling control its jails. But Prison Officer numbers have fallen dramatically, with many prisons in england and wales facing crisis over the past year. Among those in decline, this is in prison near wolverhampton, in its latest inspection, increased violence against staff and reports of inmates refusing to leave their cells, described as living in fear of other prisoners. There were concerns over health and safety, which led to a 24 hour walkout in november by thousands of Prison Officers, prompting government talks over pay and pensions. Last week the Justice Secretary responded with a pay increase for officers at 31 prisons, all of them in south east england. Neither union has described the offer as divisive. So from tomorrow, members are being instructed to withdraw from volu nta ry instructed to withdraw from voluntary roles. It includes working asa voluntary roles. It includes working as a first aid, hostage negotiator, 01 as as a first aid, hostage negotiator, or as part of a tornado team, specially trained to deal with dangerous situations. There is also to bea dangerous situations. There is also to be a ban on overtime phased in from april. It is understood the union is being warned it will be taken to court if the action goes ahead. But if it does, it could cause Serious Problems thatjails, already facing huge pressure. A bbc investigation has revealed there will more than 20,000 allegations of abuse made against home care workers over the past three years. Many of the cases involve neglect, but there are also allegations of physical, psychological and sexual abuse. The uk Home Care Association has described the findings of horrifying, but has warned the system is under extreme pressure. You are watching bbc world news. 0ne top story this owl, the official inquest into the deaths of 30 british tourist is murdered by an islamist gunman in tunisia two years ago, will conclude later today. Many of the relatives believe neglect contributed to the deaths. It has been the top story on the news review for at least a week, so lets correct that. Ahead of president trumps speech to the us congress, the New York Times says he seeks to boost Military Spending by 54 billion. It is likely to be paid for by cuts to foreign aid and environment protection, amongst other things. The 29 Billion Euros merger of the London Stock Exchange and is Deutsche Borse could collapse. That was our top story yesterday and it is in the papers again today. Shares for both the lse and Deutsche Borse fell quite a bit on monday and it is speculation. China daily is looking at the visit by chinas top diplomat to the us. They say that it could pave the way through meeting between the president s of the two global superpowers. Trade and security are highlighted as issues where they could be differences. The times reports that an Outsourcing Company in the uk may implement an employee appointan in the uk may implement an employee appoint an Employee Representative to its board. This follows theresa mays call for businesses to have employee directors. And finally, fancy a trip around the moon . Next year, in 2018, two private citizens are going to go ona two private citizens are going to go on a Spacex Mission around this incredible object, which actually, we have not been two to 45 years. Cani we have not been two to 45 years. Can ijust we have not been two to 45 years. Can i just checked, we have not been two to 45 years. Can ijust checked, it is not you . Youre not one of two people . No, but i have a good find that i will save until the end. Joining us is david buik, Market Strategist at Investment Bank panmure gordon. So many people speaking to the bbc in the american president ial campaign dead we like the fact that donald trump is going to build up the american military, and that is why they were voting for him. Well, we wait with all and trepidation for the end of the day to see