Page 13 - Economic Growth

Economic Survey 2023-24: How India's overtime premium dwarfs peers'

This could be a disadvantage for the Indian economy, mentions the survey

India can grow at over 7% in the medium term, says Economic Survey

The Survey said the global trade outlook for 2024 remains positive, with merchandise trade expected to pick up after registering a contraction in volumes in 2023

Tourism sector witnessed revival, foreign arrivals went up: Eco Survey

Public policy should pay particular attention to boosting the tourism sector, Survey notes

Survey links growth to ongoing reforms

While services exports may continue to have a competitive advantage, future growth will hinge on domestic consumption and investment demand

FPIs invest Rs 30,772 cr in equities in July so far on sustained growth

Foreign investors injected Rs 30,772 crore into Indian equities so far this month, driven by hopes of continued policy reforms, sustained economic growth and a better-than-expected earnings season. Additionally, the anticipation of a reform-oriented budget has also lifted investor sentiment, Himanshu Srivastava, Associate Director - Manager Research at Morningstar Investment Research India, said. Going forward, if the recent trend of weakness in dollar and bond yields persists, FPIs are likely to continue their buying in the market, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said. Domestic and foreign investors are keenly watching for possible tweaks in the long-term capital gains tax in the Budget to be presented on July 23, he added. According to the data with the depositories, Foreign Portfolio Investors (FPIs) have made a net inflow of Rs 30,772 crore in equities this month (till July 19). This came following an inflow of Rs 26,565 crore in equitie

Prez Xi's big economic meeting shows party bracing for slower growth

The real estate sector, which at one point accounted for a quarter of China's gross domestic product, was mentioned just once in the nearly 4,000-word announcement

Fiscal policy reset needed, especially after a difficult Covid phase

Government intervention during the pandemic seemed conscious of the fact that India's fiscal position was not very strong at the beginning of the crisis

Best of BS Opinion: The real challenge of Viksit Bharat@2047 and more

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

Demographic destiny

India has a limited window of growth

The real challenge of Viksit Bharat@2047

The primary hurdle of the 2047 development goal lies in job creation for surplus agricultural workers and fresh workforce entrants

Amid Ukraine war, Russia upgraded to 'high-income' nation; here's why

Thriving in a war economy: Amid heavy sanctions, Russia's economy defied expectations, achieving a high-income status for the first time since 2014, according to the World Bank

China's Communist Party's 3rd Plenum begins key meet stem economic slowdown

China's ruling Communist Party is starting a four-day meeting Monday that is expected to lay out a strategy for self-sufficient economic growth in an era of heightened national security concerns and restrictions on access to American technology. While the meeting typically focuses on such long-term issues, business owners and investors will also be watching to see if the party announces any immediate measures to try to counter a prolonged real estate downturn and persistent malaise that has suppressed China's post-COVID-19 recovery. There's a lot of unclarity of policy direction in China, which is weighing on consumer and investor confidence, said Bert Hofman, the former World Bank country director for China and a professor at the National University of Singapore. This is a point in time where China needs to show its cards. Economic growth slowed to 4.7% on an annual basis in the April to June quarter, the government reported Monday. The outcome of the meeting will send a message t

China's Communist Party to unveil new reforms to halt economic slowdown

China's ruling Communist Party headed by President Xi Jinping will begin its four-day key economic review meeting on Monday to finalise a new set of economic reforms to revitalise the country's economy hamstrung by the persistent slowdown that has sparked concerns at home and abroad. The meeting called the third Plenum to be attended by 376 full and alternate members of the Communist Party of China (CPC) Central Committee will meet from Monday to Thursday to primarily examine issues related to comprehensively deepening reforms and advancing Chinese modernisation, according to an official announcement earlier. The meeting to be presided over by President Xi who also heads the party aroused global attention as the world's second-largest economy worth USD 18 trillion was unable to shake off its slowdown mode, especially after the COVID-19 lockdowns. The party's powerful Politburo presided over by Xi finalised the draft for the discussion at the Plenum, CPC's top economic policy body on

India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani

The Indian economy will grow around 7 per cent in the current fiscal year and is on track to maintain a similar growth rate for several years, NITI Aayog member Arvind Virmani said on Friday. Virmani said there are new challenges facing the country and they will have to be dealt with. "Indian economy will grow at 7 per cent plus minus point 0.5 per cent... I expect that we are on track to grow at 7 per cent for several years from today," he told PTI in an interview. Last month, the Reserve Bank of India (RBI) pegged the FY25 gross domestic product (GDP) growth rate at 7.2 per cent. Responding to a question on the decline in private consumption expenditures in the last fiscal year, Virmani said it is actually recovering now. "The effect of the pandemic was to draw down savings... and very different from previous financial shocks," he said. Explaining further, Virmani said it is like what he calls a double drought situation. "We also had, of course, El Nino last year, but what the

Rajasthan budget: Rs 15k cr for tap water, greenfield expressways. Updates

Rajasthan Finance Minister Diya Kumari proposed Rs 27,000 crore for the health sector and said that bio pink toilets will be built for women

India will be superpower by 2047, but not high-income economy: Martin Wolf

He added that India's size gives It the resources to diversify and upgrade the economy overtime and can become a magnet for FDI

JSW Energy plans Rs 15,000 crore capex in FY25, says Sajjan Jindal

JSW Energy Chairman & Managing Director Sajjan Jindal on Friday said the company has planned a capital expenditure of Rs 15,000 crore during the current fiscal year. In his address to shareholders at the annual general meeting, he said, the company intends to spend around Rs 1,15,000 crore to reach the goal of 20 GW generation and 40 GWh storage under 'Strategy 2.0'. He further said the company's plan is to spend approximately Rs 15,000 crore in current fiscal year and it is also actively scouting for acquisition opportunities in the power sector. The company is on track to commission ongoing projects for power generation, battery storage and green hydrogen production, it said. The growth capital secured through the recently completed QIP (qualified institutional placement) strategically positions the company to accelerate the execution of returns accretive growth plans, he noted. In April 2024, JSW Energy had raised Rs 5,000 crore of equity through a QIP issue to build a war ...

Tier-II,-III cities can contribute to Karnataka's economic growth: CII

The 'Beyond Bengaluru' initiative is expected to empower Tier-II and Tier-III cities by enhancing the ease of doing business, implementing skilling programmes, and promoting energy efficiency

Sustainable development

The recent report showed mixed results

Budget must signal change

It needs to move beyond headline GDP to prioritise job creation and alleviating rural distress