Page 11 - Economic Growth

Indian economy to grow at 6.5-7% in FY 2024-25 on steady state basis: CEA

Chief Economic Advisor (CEA) to the Union government, V Anantha Nageswaran, on Friday said that the Indian economy is expected to grow at a rate of 6.5-7 per cent in the current financial year on a steady state basis. He said the growth rate is commendable given the current global scenario. Speaking virtually at an event organised by the Bengal Chamber of Commerce and Industry (BCCI), Nageswaran said that while the economy will grow at 6.5 per cent in real terms, the nominal rate of growth will be 11 per cent, taking inflation into account. "The Indian economy is poised to remain the fastest growing in the current financial year with a growth rate of 6.5-7 per cent on a steady state basis. This is a very good achievement in the current global context," Nageswaran said. He said that while the world is facing medium-term uncertainties with global trade slowing to a crawl, post-COVID recovery in India is now cemented due to calibrated fiscal and monetary policies pursued by the ...

Bangladesh economic growth threatened by rapidly depleting water resources

Groundwater in the climate-vulnerable country is depleting faster than ever before, according to new research from WaterAid

Slowing Indian economy to drag APAC's growth in 2025: Moody's Analytics

S&P expects RBI to cut rates next month

Time for private investment is now; delays risk economic competitiveness

Despite softening inflation, the degrees of freedom for the central bank to reduce interest rates might decrease, due to higher government borrowing to keep pump-priming the economy

Growth, revenue, deficit: Delhi's economy under two Chief Ministers

How Sheila Dikshit and Arvind Kejriwal have shaped the national capital's development

India to become third-largest economy by 2030-31, says S&P Global

The country is forecast to grow at an annual rate of 6.7 per cent

Best of BS Opinion: Challenges for a transitioning power and more

Here is the best of Business Standard's opinion pieces for today

India's foreign policy dilemma: Balancing global ambitions & domestic needs

India's growing global role clashes with its domestic challenges. Navigating foreign policy requires a balance between global responsibilities and the imperative of social and economic development

Climate crisis may push 40 mn more children into severe hunger: Report

The annual report of Bill & Melinda Gates Foundation projects that climate change could result in an additional 28 million children suffering from wasting by 2050

Why is FDI important for India's economic growth and development process?

To get a 10x gain in FDI, we need to solve the deeper issues. The problems in India are reminiscent of those seen in China, on a smaller scale

India to drive 20% of global economic growth in next decade: Amitabh Kant

India will be driving 20 per cent of the world's economic growth in the next decade as it continues its march to become the third largest economy globally, according to G20 Sherpa Amitabh Kant. Speaking at the AIMA convention here, he noted that India continues to be the fastest-growing large economy in the world and is the fifth-largest economy. "In the next three years, we will overtake Japan and Germany to be the third largest economy in the world. In a world which is starved for growth, India is an outlier and has emerged as a very resilient powerhouse driving growth," he stated. The country will be driving 20 per cent of the world's economic growth in the next decade, he added. "What we are witnessing today is a once-in-a-generation shift in our economic position. Just a few years back, we were in the fragile five, and from the fragile five, we moved to the top five in a decade," Kant said. He noted that the country needs to transform the lives of people living in rural areas

Indian economy has finally taken off, says veteran banker Deepak Parekh

US manufacturing, infra cos should invest more, says veteran banker

Fiscal prudence through disclosure: A key Budget move that went unnoticed

Statement 27-A, a voluntary disclosure of state-owned entities' borrowings, introduced in the Budget for 2024-25, enhances fiscal transparency and signals prudent fiscal management

Maharashtra leads FDI with Rs 70,795 cr in Q1FY25, Karnataka a distant 2nd

Maharashtra has held the top spot in foreign direct investment (FDI) for the past two years. Karnataka followed at a distant second, with FDI totalling Rs 19,059 crore

E-gaming, cryptos add little in terms of social value: CEA Nageswaran

The CEA said that imposing these costs on micro, small, and medium enterprises (MSMEs) before they can stand on their own feet would be counterproductive

World Bank raises India's FY25 GDP growth forecast to 7% from 6.6% earlier

India grew at 8.2% in FY 2023-24, becoming the fastest-growing major economy in the world

India needs faster growth for a decade to meet goals: RBI Dy Guv Patra

It's possible for India's per capita income to climb to levels required to be considered a high income or developed country, Patra said

Demand for work under MGNREGS drops for 10th consecutive month in August

Nearly 19 million individuals requested work under MGNREGS, showing a 17 per cent decrease compared to the same period last year

Restaurant sector to turn around after tough Q1: Speciality Restaurants CMD

The restaurant industry is expected to turn around on the back of India's overall strong fundamentals after facing temporary headwinds such as high food inflation and people dining out less that hurt the sector in the first quarter, according to Speciality Restaurants Ltd CMD Anjanmoy Chatterjee. The company, which has a slew of brands such as Mainland China, Asia Kitchen by Mainland China, Episode One, Haka, and Sweet Bengal, among others and shut 29 outlets during the pandemic, is now focussing on profitable growth while expanding its footprint. "It should be clear that India not eating out or inflation not settling down is something which I don't believe in. India is better than many more countries...," Chatterjee told PTI. He was responding to a query on how long factors such as high food inflation and people dining out less after the diminishing of 'revenge eating' post pandemic that affected the restaurant industry, will continue to impact the sector. "It is a short-term ...

India's Q1 GDP data: Investment, consumption growth picks up pace

Investment growth above 30 per cent is considered important for driving economic growth