Page 2 - Economic Growth

India must shape global outcomes, not remain passive spectator: Sitharaman

'Very foundation of the global order is shifting beneath our feet,' says Finance Minister

ADB lowers FY27 India growth forecast to 6.5% citing US tariff impact

The Asian Development Bank lowered India's FY26 growth projection to 6.5% from 6.7%, citing steep US tariffs that could hit exports, manufacturing and investment in key sectors

Indian economy to grow at 6.5% in FY26, US tariffs to weigh on exports: ADB

Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday. It is to be noted that the Asian Development Outlook (ADO) of the Asian Development Bank (ADB), released in April, had projected a higher growth rate of 7 per cent, which was lowered to 6.5 per cent in the July report on concern of a steep 50 per cent US tariffs on shipment from India. While GDP grew strongly in the first quarter (Q1) of FY26 at 7.8 per cent on improved consumption and government spending, additional US tariffs on Indian exports will reduce growth, particularly in the second half of FY26 and in FY27, though resilient domestic demand and service exports will cushion the impact, ADO September 2025 said. The reduction in exports will impact India's GDP in both FY26 and FY27 as the tariffs are implemented. A

GST reforms will boost market purchasing and economy: MoS Chaudhary

The recent GST reforms will spur market consumption and boost the domestic economy, Minister of State for Finance Pankaj Chaudhary said on Monday. He said the impact of these reforms will be known in the next four to six months. Chaudhary interacted with businessmen, entrepreneurs, and tax experts in Indore regarding the Goods and Services Tax reforms. "Prime Minister Narendra Modi believes that when GST reforms bring additional money into the hands of the common people, it will definitely boost market purchasing and accelerate our economy," he said. Chaudhary said that though the GST system was introduced in 2017 under the leadership of PM Modi, efforts for it were going on for 10 years. Taking aim at the previous Congress-led UPA government, the MoS said, "The then government was not successful in introducing the GST system because people didn't trust that government. The lack of credibility was the reason that the erstwhile government couldn't convince states to adopt the GST .

FM Sitharaman to inaugurate 4th Kautilya Economic Conclave 2025 on Oct 3

Finance Minister Nirmala Sitharaman will inaugurate the 4th Kautilya Economic Conclave (KEC 2025) with the theme 'Seeking Prosperity in Turbulent Times' here on October 3. External Affairs Minister S Jaishankar will close the proceedings with reflections on India's foreign and economic policy on October 5, the Finance Ministry said in a statement on Saturday. The three-day KEC 2025 promises to be a dynamic forum, combining India's domestic priorities with global perspectives and charting pathways to prosperity in a time of turbulence, it added. Building on its rich experience, KEC has significantly improved its quality and international presence with 75 participants from abroad, representing over 30 countries, to focus on contemporary challenges, it noted. Special luncheon sessions will include a forward-looking session on 'Communications: Emerging Technologies' led by Communications Minister Jyotiraditya Scindia with leading experts on AI and digital infrastructure. The conclave

In a clear change of strategy, govt turns to tax benefits to boost demand

The 'Festival of Savings' appears to be the new policy instrument to revive and sustain growth

FY26 borrowing plan to remain unchanged, says CEA V Anantha Nageswaran

CEA V Anantha Nageswaran said India's Q1 growth momentum will continue into Q2 FY26, with GST reforms lifting demand, fiscal deficit on track, and borrowing plans unchanged

Next-gen GST reforms to boost savings, benefit all sections: PM Modi

PM Modi said that the reforms will boost savings and directly benefit every section of society

In managing national debt, France could borrow a leaf from India

European giant's subsidies and welfare spending blamed for stretched financial resources

Focus must be on growth, self reliance amid global turbulence: Vaishnaw

Union Minister Ashwini Vaishnaw on Thursday underlined the need to maintain steadfast focus on the nation's goals and economic growth, advocating an approach of self-reliance and a firm resolve to navigate the global turbulence. Speaking at the 12th Annual Public Affairs Forum of India (PAFI) event, Vaishnaw, Minister for IT, Railways and I&B, said an important question on the mind of every policymaker today is how to effectively deal with rapid changes unfolding globally at the moment. "So yes, these are very interesting times. We must keep our focus very clear on what we want to achieve in our country. How do we want to grow our economy, strengthen ourselves, so that the storm which is there in the world...we should be strong enough to absorb those and pass our ship through those big storms," he said. The Prime Minister has articulated a strong focus on growth supported by an approach of 'atmanirbharta' or self-reliance, the minister said during an interactive chat that ...

On track to achieve fiscal deficit target of 4.4% for FY26: DEA Secy Thakur

Dispelling fears that the government may miss its ambitious fiscal deficit target of 4.4 per cent for the current financial year, Economic Affairs Secretary Anuradha Thakur on Saturday said the government is on track to meet the goal set in the Budget despite temporary mismatches which may have been exhibited in the latest monthly numbers. The statement from the Department of Economic Affairs (DEA) Secretary assumes significance in the light of Centre's fiscal deficit rising to 29.9 per cent of the full-year target at the end of July as against just 17.2 per cent of the Budget Estimates (BE) in the same period of the last financial year. "So this question (of achieving the target) has been coming up because of the latest numbers. I would like to say that quarter-by-quarter or month-by-month assessments of fiscal deficit numbers may not give a correct picture because of temporal mismatches, which may come in on the receipt and expenditure side. "On the overall fiscal deficit numbers,

Gen-next economic reforms: Big ticket projects, slashed compliances

These include an ambitious push for big-ticket projects, projecting India as a destination for major investments, and slashing the compliance burden on enterprises and citizens

Rajasthan is goldmine of opportunities for growth: Rathore at BS Samridhhi

Rajasthan Industries Minister Rajyavardhan Singh Rathore says the state is focused on ease of doing business, reducing costs, and welcoming investors, as Business Standard launches Jaipur editions

Rajasthan needs ease of doing business, cost cuts: Experts at BS Samriddhi

Experts at Business Standard's Rajasthan Samriddhi 2025 said the state must cut business costs, improve logistics, and ease rules to attract investors and boost growth opportunities

Trump calls India and Russia 'dead economies' but data tells a different story

From India's trillion-dollar export surge to Russia's energy strength, trade data counters Trump's claim amid escalating tariffs and tensions

Fresh tourism policy on anvil for investment, economic growth in UP

Chief Minister Yogi Adityanath has called for promoting different forms of tourism such as heritage, rural, religious, and fort tourism

Growth must mean jobs, value addition and economic stability: Sitharaman

At the launch of A World in Flux, FM Nirmala Sitharaman said India's top priority is quality growth focused on jobs, value addition and sustainability

Historic port to future hub: Thoothukudi's giant leap for global reach

Thoothukudi is witnessing a major economic revival with Rs 1 trillion in investments across sectors, including EV manufacturing, green hydrogen, and space, alongside upgraded infrastructure

RBI may cut rates further if inflation falls or growth slows: Guv Malhotra

While price stability remains the central bank's primary objective, growth is also a key consideration

India needs strategy to tackle challenges, boost global share: Ex-Niti VC

India's leadership needs to mobilise all necessary talent to design and implement a development strategy and respond to challenges facing the country, said a new book co-authored by former NITI Aayog Vice Chairman Rajiv Kumar. The book titled 'Everything All at Once: India and the Six Simultaneous Global Transitions', co-authored by Kumar with Ishan Joshi, offers a timely and thought-provoking perspective on the seismic changes currently reshaping the world with a significant impact on India's future prospects. "India's leadership has to mobilise all necessary talents and resources to design and implement a development strategy that innovatively responds to these multiple challenges and effectively exploits the opportunities that are inherent in the evolving trends for meeting our goals," the book says. Noting that never before in the history of global economic development did countries have to contend with such enormous challenges while pursuing their development agenda, the book .