Page 178 - Economy
The rebound: Consumption picks up in FY25 on rural demand, shows NSO data
Dharmakriti Joshi, chief economist, Crisil says that consumption growth outpaced GDP, primarily driven by robust rural demand supported by a strong agricultural sector.
 "The rebound: Consumption picks up in FY25 on rural demand, shows NSO data")
India's GDP expands 7.4% in Q4 to meet annual growth estimates of 6.5%
Nominal GDP for FY25 grew at single digit at 9.8 per cent to Rs 330.7 trillion, slightly higher than Rs 324.1 trillion factored in the Budget
 "India's GDP expands 7.4% in Q4 to meet annual growth estimates of 6.5%")
Fastest growth in years: Corporate manufacturing trumps household units
The gross value added by household manufacturing units has grown 13.5 per cent in absolute terms between FY19 and FY24 after adjusting for inflation
 "Fastest growth in years: Corporate manufacturing trumps household units")
ADB commits up to $4.5 billion in annual sovereign loans for India
ADB President Masato Kanda has said the bank is ready to lend India up to $4.5 bn annually, with added private sector funding, to support clean energy, rural development, and Viksit Bharat 2047 goals
 "ADB commits up to $4.5 billion in annual sovereign loans for India")
India's growth momentum to continue in Q1 of FY26: CEA Nageswaran
CEA Nageswaran says India may grow 6.3-6.8% in FY26, led by consumption and services exports, with momentum from Q4FY25 continuing into Q1FY26
 "India's growth momentum to continue in Q1 of FY26: CEA Nageswaran")
India fastest-growing economy for fourth year running: FM Sitharaman
FM highlights 7.4% Q4 GDP growth driven by industry, services and agri; calls for faith in India's abilities and urges reforms to eliminate corruption and ease regulation
 "India fastest-growing economy for fourth year running: FM Sitharaman")
Datanomics: India closes in on Japan to be fourth-largest economy this year
India is likely to overtake Germany in 2028 as the third largest economy in the world, according to projections by the IMF
 "Datanomics: India closes in on Japan to be fourth-largest economy this year")
Govt outperforms on fiscal deficit, brings it down to 4.77% of GDP in FY25
Capital expenditure for FY 2024-2025 at Rs 10.5 trillion stood at 103.3 per cent of the revised estimate for the year, CGA data showed
 "Govt outperforms on fiscal deficit, brings it down to 4.77% of GDP in FY25")
Manufacturing mission launch in June: NITI Aayog CEO B V R Subrahmanyam
NITI Aayog CEO BVR Subrahmanyam says new manufacturing mission will focus on clean tech, skilling, and structural reforms for a $7.5-trillion economy by 2047
 "Manufacturing mission launch in June: NITI Aayog CEO B V R Subrahmanyam")
FinMin suggests RBI to give relief for borrowers under ₹2 lakh gold loan
In April, the RBI released draft norms mandating, among other requirements, that borrowers furnish proof of ownership for the gold used as collateral
 "FinMin suggests RBI to give relief for borrowers under ₹2 lakh gold loan")
Interest rates on fresh deposits declined sharply by 35 bps in April
Fresh deposit rates declined more sharply than lending rates in April, as RBI's policy easing and surplus liquidity support rate transmission across the banking system
 "Interest rates on fresh deposits declined sharply by 35 bps in April")
India fastest growing economy for fourth consecutive year: FM Sitharaman
India has remained the fastest-growing major economy for the fourth straight year, driven by strong manufacturing, services, and farm sector growth, the finance minister said
Govt achieves fiscal deficit target of 4.8% for FY25, shows data
The economic growth in nominal terms for the fiscal 2024-25 is estimated at Rs 3,30,68,145 crore, according to the GDP data released earlier in the day
 "Govt achieves fiscal deficit target of 4.8% for FY25, shows data")
India's forex reserves rise $6.99 billion to $692.72 billion: RBI
For the week ended May 23, foreign currency assets, a major component of the reserves, increased by USD 4.516 million to USD 586.167 billion, the data released on Friday showed
 "India's forex reserves rise $6.99 billion to $692.72 billion: RBI")
India's GDP grows at 7.4% in Q4 FY25; full-year growth estimated at 6.5%
RBI had pegged the fourth quarter's GDP growth at 7.2%, and FY25 at 6.6%
 "India's GDP grows at 7.4% in Q4 FY25; full-year growth estimated at 6.5%")
Indian govt to release crypto policy discussion paper next month
This comes at a time when digital currencies are seeing growing acceptance worldwide, especially after US President Donald Trump openly supported them
 "Indian govt to release crypto policy discussion paper next month")
Shrimp export volume growth to stay flat in FY26 due to US tariffs: Crisil
Indian exporters are expected to face stronger competition in low-value-added segments like raw, frozen, and peeled frozen shrimp, according to the Crisil report
 "Shrimp export volume growth to stay flat in FY26 due to US tariffs: Crisil")
India's gold demand lags as wedding season ends, high prices deter buyers
This week, Indian dealers were offering a discount of up to $31 an ounce over official domestic prices, inclusive of 6 per cent import and 3 per cent sales levies
 "India's gold demand lags as wedding season ends, high prices deter buyers")
Finance ministry seeks relaxation in RBI's new gold loan proposals
In April this year, the RBI had proposed tighter rules for monitoring and disbursement of gold loans, often used by low-income borrowers
 "Finance ministry seeks relaxation in RBI's new gold loan proposals")
India's GDP growth likely accelerated in Q4 on rural demand, state spending
Rural consumption improved during the quarter, while urban demand indicators remained mixed
 "India's GDP growth likely accelerated in Q4 on rural demand, state spending")