Page 22 - Economic Growth

Indian economy expected to sustain strong growth amid global gloom

India's is seen as the bright spot globally as some Western countries are flirting with the possibility of recession, while China, the world's second-largest economy, has slowed down

India's GDP growth expected to slow to 6.3% in FY24: OECD economic outlook

The GDP growth is expected to further slow to 6.1 per cent in the next financial year (FY25), before rebounding in FY26

Mixed results

Economic activity remains uneven

Steel demand to touch 190 MT-mark; production to reach 210 MT: SteelMint

India's steel demand is expected to grow at a CAGR of 7 per cent to touch 190 Million Tonne (MT) level by 2030, according to a report by SteelMint India. The demand will be largely fuelled by construction and infrastructure sectors, which contribute 60-65 per cent to the demand, the market research firm said. In 2030, India's steel demand is projected to reach 190 MT based on a 7 per cent Compound Annual Growth Rate (CAGR). "In the best case scenario, it can also reach 230 MT by 2030," the report titled 'India's Steel and Coking Coal Demand 2030' stated. The demand will also be pushed by sectors like auto and engineering, and factors like population growth, growing urbanisation, various government initiatives will be its key drivers. The demand is expected to touch 120 MT mark by 2023-end, and production will be at 136 MT, as per the report. India's crude steel production is expected to be at 210 MT by 2030, 45 per cent higher from production levels of 2023. Many countries, incl

Here's why the world's most loved-emerging market is feeling jittery

Where India has stood apart from most other emerging markets is in delivering high economic growth - 6 per cent-plus expected in 2023 and 2024, according to the International Monetary Fund

FY24 should conclude as projected with strong growth: Finance ministry

The government is also confident of achieving the budgeted deficit target for the current fiscal year

Moody's retains India's 2023 forecast at 6.7% on strong domestic demand

Moody's Investors Service on Thursday retained India's economic growth forecast for 2023 at 6.7 per cent and said strong domestic demand will likely sustain the growth in the near term. With exports remaining weak against an unfavourable global economic backdrop, Moody's in its Global Macroeconomic Outlook 2024-25 said sustained domestic demand growth is propelling India's economy. We expect India's real GDP to grow about 6.7 per cent in 2023, 6.1 per cent in 2024 and 6.3 per cent in 2025, Moody's said. India's real GDP rose 7.8 per cent year-over-year in June quarter, up from 6.1 per cent in March quarter and bolstered by a 6 per cent increase in household consumption and solid capital expenditure and service sector activity. Moody's said high-frequency indicators show that the economy's strong June quarter momentum carried into July-September as well. Robust goods and services tax collections, surging auto sales, rising consumer optimism and double-digit credit growth suggest ur

Oil prices up 1.5% as Saudi Arabia and Russia stick to supply cuts

Oil was rebounding after both benchmarks lost about 6 per cent in the week to November 3

Southeast Asia woos Indians with more flight seats and free visas

What was striking about Q3 2023 was that the number of airline seats between China and southeast Asia was 53 per cent of the 2019 levels, or 4.24 million seats

CEA V Ananatha Nageswaran sees RBI holding fire if US Fed hikes rate again

The Federal Reserve left interest rates unchanged on Wednesday while still keeping alive the possibility of more hikes given inflation remains above its 2 per cent target and economic growth is strong

BS BFSI Summit: Q2 GDP numbers likely to surprise on upside, says RBI's Das

The RBI has projected a GDP growth rate of 6.5 per cent for July-September while growth for 2023-24 too is seen at 6.5 per cent

Conflicts and macro threaten India's firewalls

Policy agility, prudence, and resilience will be key for sustained growth in a rapidly changing global landscape

Sustainable finance will foster economic growth: Deputy Guv Swaminathan J

He said that lenders need to go beyond mere compliance and must imbue the organisation's practices with sustainable finance principles in order to foster a culture of financial inclusion

India's core sector output touches 14-month high of 12.1% in August

In August last year, the core sector had grown by 4.2 per cent

India to hold top spot for growth but risks to downside remain: Poll

Forecasts for this fiscal year ranged widely from 4.6 per cent to 7.1 per cent

Through the economic data fog

The picture of the Indian economy is one of near stagnation between 2011 and 2020, a massive bounce-back in the immediate post-pandemic period, and now muted growth

Employment challenge

Economic growth is not creating jobs

India slips one notch to 87th out of 165 nations on economic freedom index

India has fallen one notch to the 87th position out of 165 countries on the economic freedom index, according to a report released on Thursday. The country was at the 86th spot in previous year's rankings. The 'Economic Freedom of the World: 2021 Annual Report' by Canada's Fraser Institute has been released in India in conjunction with New Delhi-based think tank Centre For Civil Society. "From 1980 to now, India's rating has gone up considerably, from 4.90 to 6.62 but, our rank has fallen. This means while India is improving considerably in absolute terms but is not doing enough relative to other countries," it said. However, in South Asia, India is doing pretty well, as per the report. India reported marginal increase in the size of government (7.64 from 7.57) and and regulation of credit, labour and business (5.98 from 5.96), while it was down slightly in legal system and property rights (5.29 from 5.3) and freedom to trade internationally (6.19 from 6.27). A score closer to 10

Growth needs more electricity

Many states need a new electricity policy that can support high economic growth

Jobs more likely to be augmented than destroyed with Gen AI: ILO D-G

The latest ILO data highlights India's significant progress in enhancing social protection, says Gilbert F Houngbo, director-general, ILO