Page 17 - Economic Growth

Centre appoints Manoj Panda as member of 16th Finance Commission

Panda's research areas span monitoring and analysis of macro-economic trends and prospects, evaluation of alternative trade and fiscal policy options from the point of view of growth and distribution

Asean finance leaders points challenges from geopolitics, volatile prices

Southeast Asian economies are gaining ground as tourism and exports recover from the shocks of the pandemic, but geopolitical tensions and volatile commodity prices still pose serious risks, regional financial leaders said on Friday. Laos' Finance Minister Santiphab Phomvihane read out a joint statement following meetings among finance ministers at a hotel in the Laotian city of Luang Prabang, a UNESCO heritage site, but he made no other remarks and took no questions. Estimates for economic growth in members of the 10-nation Association of Southeast Asian Nations vary but are generally near a robust 5 per cent for 2024. Nevertheless, there are still challenges due to adverse financial spillovers from geopolitical tensions, volatility in global commodity prices, Phomvihane said, also pointing to climate change, aging populations and rapid development of digitalization as key factors for the region. He did not elaborate, but the repercussions of the war in Ukraine and tensions betwee

Can Europe's economy exceed expectations in 2024?

Despite stabilising the United Kingdom, Prime Minister Rishi Sunak is hindered by the widespread perception that he is a lame duck

PM Modi sets ambitious India economic goals for probable third term

For the next six years, Modi's goal is to raise per capita income to $4,418 from around $2,500, the document says, without specifying the spending or reforms needed to achieve that

Will RBI change focus to growth after PM Narendra Modi's speech?

While the central bank has not hiked the repo rate for more than a year now, but it has refused to drop the guard on inflation even if core inflation has moderated

World Bank lifts India's economic growth forecast for FY25 to 6.6%

Cautions that South Asia Risks "Squandering" Its Demographic Dividend

FY25 likely to witness close to 7% economic growth, but risks remain

Finance Minister Nirmala Sitharaman at the Business Standard Manthan said the high capex growth needs to be maintained to meet growth targets

Key indicators suggest economy remains buoyant at end of FY24: NCAER

Indian economy shows resilience with PMI growth, strong GST collections, and bank credit growth

Need to cut our expenditures, take Pak towards self-reliance: PM Shehbaz

Pakistan Prime Minister Shehbaz Sharif on Saturday vowed to transform the country's economic landscape as he said he has shared the broad parameters of a five-year plan with all the ministries, the state media reported. Sharif, who earlier this month took oath as the prime minister for a second time since 2022 amidst staggering economic and security challenges, chaired a Cabinet meeting in which he shared the five-year plan with all the ministries specifying their targets, reported Radio Pakistan. He emphasised that the ministries would have to devise strategies to achieve these targets and the progress would be reviewed regularly. We have to cut our expenditures and take the country towards self-reliance, he said. Expressing determination to uplift various sectors such as agriculture and information technology, Sharif said We have to take the country on the growth trajectory and create employment opportunities. He was confident that the Ministry of Commerce would take the requisit

GDP set to grow at least 8% in Jan-March quarter: FM Nirmala Sitharaman

Country's economy is projected to grow at 7.6% in the current fiscal year to March 31, according to the latest government estimates

AI could have a surprising effect on interest rates

You might think economists would have a simple handle on such a straightforward query, but the both macroeconomics and AI are complex

Financial inclusion important for economic empowerment of women: Thakur

Union Minister Anurag Thakur on Friday urged women entrepreneurs to use digital technology to help small businesses become resilient and champions of change. Addressing the 40th Annual Session of the FICCI Ladies Organisation, Thakur said financial inclusion and going digital was critical to achieving the economic empowerment of women. "Women must be a larger part of the economic development. Empowering women, addressing their concerns and amplifying their voices is a priority for the present government," Thakur said. He said India has the third largest start-up ecosystem in the world with 1.2 lakh start-ups and 110 Unicorns. "Women's contribution will be much more when India will move to become the 3rd largest economy in the next three years," he said. "Adoption of advanced technologies and Artificial Intelligence (AI) by women can serve as a tool for growth for small businesses in building their resilient capacity," he said. Adoption of digitalisation by small businesses means

Growth could reach 9% with reforms in 5 years, says Arvind Panagariya

India can realistically push its economic growth close to 9 per cent from the current 7 per cent or so, by implementing a few more reforms in the next five years, Chairman of the 16th Finance Commission Arvind Panagariya said on Wednesday. Panagariya said Prime Minister Narendra Modi worked hard over the past 10 years to make India a friendly place for businesses, so investment is coming in. "Today, the economy is open. In the next 2-3 decades, we can sustain a very rapid growth," he said, while speaking at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the third quarter of FY24 -- the fastest in the past one-and-a-half years. "India is currently growing in real rupees at about 7 per cent or so per year. "Certainly with a few more reforms in the next five years, we can realistically push it to close to 9 per cent, certainly somewhere at 8-9 per cent and that can be sustained easily for a couple of decades," the economist said. Responding to a .

IndiGo aims to double in size by 2030 with new routes: CEO Pieter Elbers

IndiGo aims to double in size by 2030 with new domestic and international routes as well as destinations, its chief Pieter Elbers said as the airline pursues soaring global ambitions to match India's economic growth potential. The country's largest airline with a domestic market share of little over 60 per cent is also betting big on A321 XLR aircraft that are expected to be part of its fleet "somewhere in 2025", to further expand its overseas presence. Seeking to consolidate as well as expand its position on the global scale, Elbers told PTI in an interview that the next big jump for IndiGo will be to double its size by the end of the decade. For the next financial year starting April 2024, the IndiGo chief said the capacity guidance in terms of seat capacity is "early double digits" and one plane is coming in every week. Amid supply chain as well as Pratt & Whitney engine woes, Elbers also emphasised that the airline is taking a lot of mitigating measures that are bearing ...

We need to accelerate India's growth at 9-10% over next 3 decades: Kant

Discussing India's anticipated growth, Kant suggested transitioning people from agriculture to manufacturing-led smart cities to create better-quality jobs and foster economic development

India's economic growth rate resembles that of 2003-07, says Morgan Stanley

India's current world-beating economic growth rate on the back of an investment boom resembles that of 2003-07 when growth averaged more than 8 per cent, according to economists at Morgan Stanley. In a report 'The Viewpoint: India - Why this feels like 2003-07', Morgan Stanley said after a decade of investment to GDP steadily declining, capex has emerged as a key growth driver in India. "We think the capex cycle has more room to run, therefore the current expansion closely resembles that of 2003-07. The current cycle is driven by investment outperforming consumption, public capex leading initially but private capex rapidly catching up, the urban consumer leading consumption followed by catch-up in rural demand, market share in global exports rising and macro stability risks kept in check. "We think the defining characteristic of the current expansion is the rise in the investment-to-GDP ratio. Similarly, in the 2003-07 cycle investment to GDP rose from 27 per cent in F2003 (fiscal .

Fitch Ratings ups GDP growth forecast to 7% for FY25 on demand push

It expects 50 bps rate cut by RBI in the second half of 2024

Niti Aayog bats for easy financing, e-commerce push to boost MSME exports

The report jointly prepared by Niti Aayog and the non-profit Foundation for Economic Development, said that India needs a NTN to ease compliance burdens for MSMEs

Economy may grow by over 7% for 4th year running in FY25: CEA Nageswaran

Sustaining high growth over long periods rare, country has seen only short bursts of high growth

Best of BS Opinion: Waiting for the states, Bengaluru warning & more

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