Page 30 - Economic Growth

Financial regulators designed in socialist era, must change: Amitabh Kant

Financial regulators were designed in the "socialist era" and there is a need for a change in the mindset of many regulators to aid economic growth, India's G-20 sherpa Amitabh Kant said on Wednesday. Kant, a career bureaucrat who was till recently heading the government's think-tank Niti Aayog, also hit out against certain politicians for "ruining" the country by offering freebies like free power without naming anyone. Speaking at the annual SBI conclave, Kant said financial sector regulators like the Reserve Bank of India, Securities and Exchange Board of India or even the Competitive Commission of India need to act as development and change agents. "...regulators were also designed at a particular period when you were going through a socialist era, and therefore, there is a huge need for a change of mindset amongst many of the regulators I strongly believe," he said. The remarks come at a time when the RBI has hiked interest rate by 1.90 per cent to tame inflation, which is its

OECD cuts India FY23 GDP forecast to 6.6% on slowdown at home, global fears

Says India is set to be second-fastest growing G-20 economy in FY23, despite decelerating global demand and tightening of monetary policy to manage inflationary pressures

Banking funds could outperform if economic recovery continues unimpeded

Global factors causing a slowdown and overexposure to this sector are key risks

Rupee sheds 0.2% to dollar as Covid worries trigger slump in yuan

Talk of persistent rate hikes by US Fed officials also drags rupee lower

Six months that make a leader

As time goes on, most elected leaders run out of ideas. It seems to hold as true for the world as for India

India, Australia to identify companies in critical mineral space

In the critical minerals space, Australia is the world's largest producer of lithium and the second largest producer of rare-earth elements

From UPA govt's CEA to PM Modi's NITI Aayog member: Who is Arvind Virmani?

Prime Minister Narendra Modi has approved Virmani's appointment notified on November 15. Here's all you need to know

US treasury secy Janet Yellen to visit India on Nov 11 for EFP dialogue

Yellen will meet with tech sector haeds, visit Microsoft India Development Center, and hold a bilateral meeting with FM Sitharaman

McKinsey lists 10 steps to decarbonise India while pursuing economic growth

India emits a net 2.9 gigatons of carbon-dioxide equivalent every year, third-largest globally, as of 2019, according to a report recently released by McKinsey Sustainability

Indian-Americans secret weapon for economic growth: Congressman Jim Himes

Indian-Americans are a "secret weapon for economic growth", Congressman Jim Himes said showering praises on the thriving community, which is the highest-earning ethnic group in the US.

FM Sitharaman lists climate finance, crypto regulation as key G-20 agenda

Nirmala Sitharaman says India will push for the voice of developing and low-income nations

Growth in Asia-Pacific region to slow down in 2022, 2023, says IMF

The International Monetary Fund (IMF) said in a report released on Friday that economic growth in the Asia and Pacific region is expected to slow down in 2022 and 2023

China's economic growth now seen below 5% through 2024 on Covid zero risk

Growth is now expected to be below 5% for each year through 2024, the latest Bloomberg survey of economists shows

JSW Steel logs Rs 848 crore loss in Sept quarter as steel prices fall

Led by an increase in volumes, the firm saw net sales increase by 28.9 per cent at Rs 41,122 crore

A less predictable outlook: How will Indian economy do in Samvat 2079?

While the frothier end of the market of unicorns has already seen a low tide when it comes to fresh funding, the more sober end of the market might provide a positive surprise, writes T N Ninan

Global economy facing disruptions, India can't be decoupled: Rakesh Mohan

Country has to tailor its actions in response to international crises, says economist and former deputy governor of RBI

Through a 40-year prism: India's record creditable, but not outstanding

India's share of world GDP, after shrinking in the 1981-91 decade from 1.7% to 1.1%, rose to 2.5% by 2011, and then to 3.3% in 2021, with still higher shares to come, writes T N Ninan

India has set global benchmarks; economic revival on sustained path: FM

Union Finance Minister Nirmala Sitharaman said that India is setting the global benchmarks on the digital front and that it will be able to face geopolitical and economic uncertainties

Growth in India, China, Indonesia will be less affected: S&P Global Ratings

Growth in large Asia Pacific economies like China, India and Indonesia will be less affected as their economies are more domestically oriented, said S&P Global Ratings on Thursday.

India maintained post-pandemic economic growth momentum, says Sitharaman

Nirmala Sitharaman said that India has maintained accelerated growth momentum, after the contraction in 2020, by balancing the immediate needs of the economy with long-term structural reforms