Page 17 - Economic Growth

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

Waiting for the states

The future of key economic reforms seems to depend more on the states

India could be in upper-middle income category over FY33-FY36: Ind-Ra

The rating agency reported that India would reach to a $15 trillion economy over financial years 2043-2047

India's shift to transition economy needs financing for equitable growth

A large migration to cities will require focus on urban development

Uttar Pradesh govt acquires around 1,000-acre land near expressways

Yogi Adityanath government is estimated to incur Rs 4,000 crore on acquiring land flanking the expressways, especially at the entry and exit points for faster transportation and logistics

Moody's ups GDP forecast, India to remain fastest growing G20 nation

Moody's Ratings on Thursday raised India's GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The estimate comes a day after RBI Governor Shaktikanta Das said the economic growth in the current financial year could be close to 8 per cent in view of the third quarter GDP data released by the government. The latest estimate of Moody's is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023. The National Statistical Office (NSO) has projected 8.4 per cent growth in December quarter of the current financial year. It has also revised GDP estimates for the first and second quarters to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively. "We expect India to be the fastest-growing economy among major G20 countries, with its real GDP growth to accelerate to around 8 per cent in the fiscal year ending March 2024 (fiscal 2023-24) from 7 per

CRISIL raises India's GDP growth forecast to 6.8% from 6.4% for FY25

On the inflation front, Crisil expects softening to continue in the next fiscal on the back of healthier agriculture output that tames food inflation, and benign oil and commodity prices

Indian economy likely to grow close to 8% in FY24, says RBI Governor

RBI governor says 85% Paytm wallet users won't face disruption

Annual GDP growth for current FY could be very close to 8%: RBI chief Das

Das said rural demand had been improving and was much stronger than a year ago, while urban demand continued to be very strong

Day after Q3 GDP surprise, analysts raise growth forecast for FY25

SBI projected the Indian economy to grow at 8 per cent in FY25

Japan as number four

If the economy's fall to number four is not enough to wake Japan up, it will soon fall to number five