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High-income states, which account for 26 per cent of India's population, contribute 44 per cent of GDP, while low-income states, with 38 per cent of the population, generate only 19 per cent of GDP, a divergence that is worrisome, NITI Aayog Vice-Chairman Suman Bery said. Delivering a lecture on India's Macro Challenge: Generating and Financing a Big Investment Push' at the 6th Economics Conclave at the School of Economics, University of Hyderabad here, on Monday, he said, "The development strategy that's appropriate for Tamil Nadu and for Bihar or Uttar Pradesh will necessarily be very different." "And so it is the case that there has been divergence, and that's something we need to worry about. As you see, high-income states account for 26 per cent of the population but 44 per cent of GDP, while low-income states have 38 per cent of the population but only 19 per cent of GDP," he said. Bery added, "I do want to bring to the Indian context the point that I made in a global ...
High tariffs imposed by the United States on Indian goods pose a major risk to the country's growth, Crisil Intelligence said in its September report. The tariffs will impact both Indian goods exports and investments, the report added. However, domestic consumption, driven by benign inflation and rate cuts, is expected to support growth, it said. The country's GDP rose to a five-quarter high of 7.8 per cent in the first quarter of fiscal 2025-26, up from 7.4 per cent in the similar quarter in the previous year. Nominal GDP growth, however, slowed to 8.8 per cent from 10.8 per cent during the same period, it added. The report said consumer price index (CPI) inflation is likely to soften to 3.5 per cent in the current fiscal from 4.6 per cent in the previous year. Healthy agricultural growth is expected to keep food inflation under check, though the impact of excess rain was yet to be fully assessed. Lower crude prices and benign global commodity prices are expected to contain non
Union Minister Nitin Gadkari on Wednesday stressed on the need to increase the share of agriculture and allied sector in the GDP to at least 26 per cent from the present 18 per cent to make India self-reliant. Addressing an annual general meeting of Crop Care Federation of India, Gadkari, the Union Road Transport and Highways Minister, emphasised on reducing the cost of production to make agriculture sector economically viable. To cut input costs, he called upon the farm equipment manufacturers to make electric as well as flex-engine tractors. Gadkari also asked the agro-chemicals industry to focus on introducing affordable bio-pesticides and bio-insecticides products by undertaking intensive research & development (R&D) works. He also told the industry to produce basic raw material in India itself and reduce import dependency to ensure the quality of the finished agro-chemicals. Talking about the agriculture sector, Gadkari said the farm sector is the backbone of our ...
In a veiled rebuttal to the 'dead economy' jibe, Prime Minister Narendra Modi on Tuesday said the Indian economy grew 7.8 per cent in the first quarter, surpassing all expectations despite global uncertainties and challenges driven by economic self-interest. Speaking at the Semicon India 2025 conference here, he said GDP growth in April-June was better than 'every expectation, hope and estimate'. Indian economic performance came amidst global uncertainties and "aarthik swarth se paida hue chunautiya hai" (challenges stemming from economic self-interest), he said. "Once again, India has outperformed every expectation, every estimate, and every forecast," Modi said. While economies around the world are facing concerns and challenges driven by economic self-interest, India has achieved a growth rate of 7.8 per cent. Modi emphasized that this growth is visible across all sectors -- manufacturing, services, agriculture, and construction -- with enthusiasm evident everywhere, and added