Page 10 - Economic Growth

How discussions at COP29 could shape India's renewable energy future

The goal of tripling renewable energy by 2030, set at COP28, depends on urgently mobilising international finances for the developing world

Need energy transition without compromising economic growth: CEA Nageswaran

Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday underlined the need to be cautious about energy transition and it should be without compromising growth. "We need to do it carefully so that we do not throw the baby of economic growth out with bath water in the name of managing energy transition and tackling climate change. Without growth there are no resources to invest for climate change management," he said while speaking at the Global Economic Policy Forum organised by CII here Citing negative impact, he said, Europe is facing an economic doldrum because of a sharp rise in industrial electricity prices partly because of focus on renewal energy and energy transition. He said that this is not just a political challenge, but also an economic one, affecting not only India but the entire global South. Assuaging concerns of slowdown, he said, India is on track to achieve 6.5-7 per cent GDP growth for the current fiscal pencilled in Economic Survey. He, however, said, the

India's economic growth by end of this fiscal will be back on track: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday expressed confidence that India's economic growth by end of this fiscal will be back on track despite global uncertainties. He said that this year also India will be the world's fastest growing economy. "We had an election in the first quarter and during the election, obviously policy making and decisions on next steps of growth or infrastructure spending does slow down and there is a lag effect. "But from what the initial numbers for this quarter, the third quarter show, the festive spending, the rebound in rural growth, the way banks are now seeing traction back again, the way infrastructure spending has come back on track, I think by the time we close the year in March, we will be back on track," Goyal said at Times Network's India Economic Conclave here. The minister was replying to a question whether the 5.4 per cent GDP growth in the July-September quarter of this fiscal worries him. The latest government data showed ..

Asian Development Bank lowers India's growth forecast to 6.5% for FY25

The multilateral funding agency also revised downwards its forecast for the next financial year (FY26) to 7 per cent from 7.2 per cent estimated earlier

RBI guv signs in, says focus to be on economic growth, policy stability

Still much work to be done on financial inclusion: Malhotra

Here's how India is sacrificing its growth and why it needs to stop

In the absence of meaningful private investment and job creation, India is slipping back into its pre-Covid-19 rut, and its economic czars are once again publicly refusing to acknowledge the slowdown

Will do what is best for economy, says incoming RBI guv Sanjay Malhotra

Malhotra, 56, will take over as governor today at a time when there is growing clamour for an interest rate cut to support slowing economic growth

RBI governors keep in mind requirements of the wider economy as well: Das

Outgoing RBI Governor Shaktikanta Das reflects on six years at the helm as Sanjay Malhotra prepares to take over

What Trump's second term means for climate change and green policies

The world has no doubt moved ahead on its journey to build a low-carbon economy and this cannot be reversed so easily

India's growth offers great opportunities to US investors: KV Subramanian

Of the belief that India is headed to be a USD 55 trillion economy by 2047, India's Executive Director at the IMF Dr K V Subramanian on Thursday said India's growth offers phenomenal opportunities to American investors. Subramanian said this during the launch of his latest book India@100: Envisioning Tomorrow's Economic Powerhouse. The opportunities that are available for the American investors actually are phenomenal., I don't think there is any other economy that is actually going to be providing this kind of return over the next 20 to 25 years, he said at the launch event organised by US India Strategic and Partnership Forum (USISPF) here. Investors who have an eye on India have the opportunity to actually not double but triple their money, the top economist said. They have the opportunity to grow their money 15 to 20 times, I think that is something that is important, said Subramanian, who previously was India's Chief Economic Advisor. In his book, Subramanian explores how In

DRI to celebrate 67 yrs of service: Fortifying India's economic frontlines

DRI must continuously adapt to these evolving trends, inter alia, utilising international collaboration and advanced intelligence-gathering techniques

In good position to deleverage from next year: Tata Steel's Chatterjee

The steel industry is clearly in a down-cycle

Economic potential eroding rapidly while PM Modi generates hype, says Cong

The Congress on Saturday attacked the government over India's economic growth slowing to near two-year low, saying the country's medium and long-term economic potential is "eroding rapidly" and asked how long will the grim reality of stagnant wages for crores of workers continue to be ignored. Congress general secretary in-charge communications Jairam Ramesh said the GDP growth figures released last evening for July-September 2024 are much worse than anticipated, with India recording a measly 5.4% growth and consumption similarly growing by an unimpressive 6%. "The non-biological PM and his cheerleaders are wilfully blind to the causes of this sharp slowdown, but a new report on 'Labour Dynamics of Indian States' released by a leading Mumbai-based financial information services company, India Ratings and Research, on the 26th of November 2024 reveals its real cause: stagnant wages," Ramesh said in a statement. The Congress leader pointed out that the report uses Periodic Labour Forc

GDP growth hits 7-quarter low of 5.4% in Q2 as manufacturing slows

Slowdown prompts calls for policy rate cuts in February

How UP's CM is shaping growth with bold reforms, visionary governance

The state's rapid growth, spanning economy, tourism, agriculture, and MSMEs, is credited to 'Yoginomics' by state policymakers

S&P Global cuts India's GDP growth forecast to 6.7% for FY26, 6.8% for FY27

S&P Global Ratings on Monday revised down its estimate for India's economic growth in the next two financial years as high interest rate and lower fiscal impulse temper urban demand. In an update to its economic forecast for Asia-Pacific economies after US election results, the rating agency projected a 6.7 per cent GDP growth rate in 2025-26 financial year (April 2025 to March 2026) and 6.8 per cent in the following fiscal year, down from 6.9 per cent and 7 per cent, respectively in previous projections. For FY25, S&P Global pegged GDP growth rate at 6.8 per cent. "In India we see GDP growth easing to 6.8 per cent this fiscal year as high interest rates and a lower fiscal impulse temper urban demand. While purchasing manager indices (PMIs) remain convincingly in the expansion zone, other high-frequency indicators indicate some transitory softening of growth momentum due to the hit to the construction sector in the September quarter," it said. The agency expects India's GDP to

India ready for global challenges, set to be third-largest economy: Goyal

The Indian currency has held its position as one of the least volatile among major currencies, and the forex reserves stand at about $675 billion-among the five largest in the world, the minister said

Heady to steady: Economic growth slows but becomes more broad-based

Using the widest variety of data available should give a more thorough picture of growth trends

Pvt consumption back, medium-term economic outlook bullish: RBI Bulletin

Record production estimates for kharif foodgrains as well as promising rabi crop prospects augur well for farm income and rural demand, going forward

Manufacturing slump likely to hit India's Q2 GDP growth to six-quarter low

During the June quarter of FY25, the economy grew 6.7 per cent