Page 4 - Economic Growth In India

When everyone is slowing, India in relatively bright spot than others: IMF

When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday. Just look at the global conjuncture right now, which is the overarching problem, IMF Director of Asia and Pacific Department, Krishna Srinivasan, said, adding that the growth was "slowing across many parts of the world even as inflation is rising". "We expect countries accounting for 1/3 of the global economy to go into a recession this year or the next. And inflation is rampant. So that is the overarching story, Srinivasan told PTI in an interview. Almost every country is slowing. In that context, India is doing better and is in a relative bright spot compared to the other countries in the region, Srinivasan said. The IMF on Tuesday in its World Economic Outlook projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2

Sitharaman says India's growth rate to be around 7% this financial year

Amidst reports of a global recession and downgrading of growth rates of almost all major economies, Finance Minister Nirmala Sitharaman on Tuesday exuded confidence on India's relative and absolute growth performance in the rest of the decade and forecast the country's growth rate to be around 7 per cent this financial year. Addressing a gathering here, Sitharaman said India's foundation for the ongoing successful recovery from the pandemic was laid when Prime Minister Narendra Modi took office in 2014. "I am aware that growth forecasts around the world are being revised lower. We expect India's growth rate to be around 7 per cent this financial year. More importantly, I am confident of India's relative and absolute growth performance in the rest of the decade, she said. The minister, however, observed that the Indian economy is not exempt from the impact of swirling global currents. No economy is, she said. After the unprecedented shock of the pandemic, came the conflict in Europ

Services PMI at 54.3 in Sep; slowest expansion in 6 months amid weak demand

Growth in India's services industry slumped in September to a six-month low, led by a substantial easing in demand amid high inflation

Karnataka, Manipur, Cahandigarh top NITI ranking for innovation, growth

Chhattisgarh is last among major states in index based on seven broad parameters and 66 indicators

India's economy seen growing 9.2% in FY22 on upbeat rural sector: BoB

India's economy is expected to have grown at 9.2 per cent in the fiscal ended March 2022, after having contracted by 7.3 per cent in the previous financial year

Indian banks to benefit from strong domestic economic growth: Moody's

Ukraine conflict will not derail the country's recovery

Top sectors to invest in 2022

This year is likely to test the sustainability of the economic growth momentum in India, amid new Covid-variants. Investors will have to be careful in stock selection. Find out what analysts say

Indices to remain range-bound in 2022 as earnings catch up: Ajay Garg

With the pandemic risk still lurking around the fringes, global growth is yet to attain a structural foothold, Garg said

Privatisation, growth should remain Budget focus, says EAC-PM

It also said the clear road map of privatisation and growth orientation of FY22 Budget should be maintained in FY23 as well

Festival season in India fuels its return to world-beating growth

India showed more signs of a recovery taking hold last month as its festive season kicked off

Best of BS Opinion: Race to the bottom, increasing infection, and more

Here are the best of Business Standard's opinion pieces for Thursday

India's economic recovery likely to be 'U' shaped and not 'V': Analysts

The world over various countries are in different stages of opening up after going through a complete lockdown for 60-90 days.

Covid-19 impact: 1 in 5 Mumbai, Bengaluru consumers anxious about finances

The findings are based on a survey of 1,000 residents in Mumbai and Bangalore by the Swiss Re Group, a global reinsurer

Economists raise doubts over timing of economic revival after Covid-19

State Bank of India's chief economic advisor Soumya Kanti Ghosh said GDP for one quarter had been lost, amounting to Rs 40-50 trillion, due to the coronavirus crisis

Govt unlikely to press for hike in GST rates for non-essentials next month

However it will have to find ways in which essential and non-essential items can be segregated

Amit Shah speaks to CMs before meeting Modi on next phase of lockdown

The central government is expected to announce its decision on the lockdown within the next two days

Top headlines: Indian economy to shrink 5% says S&P, power sector woes

Business Standard brings to you the top headlines of the day

Mamata calls Modi's mega Rs 20 trillion package a 'big zero and eyewash'

West Bengal CM says extension of the deadline to file tax return is not a benefit as people are under lockdown and in any case they cannot meet the earlier deadline

Tax break to provident fund: What stimulus has for you and economy

Government support in the form of 12% employer and 12% employee contribution extended for another three months - June, July and August

Top headlines: TDS rate cut by 25%, ITR filing extended till Nov 30

Business Standard bring to you a snapshot of events which made the news today