Page 30 - Economic Growth

Envisioning a truly smart city

The success of the smart city mission depends on urban local bodies, and it is imperative to carve out a bigger role for them in the national development strategies

India Budget to balance capex, social agenda, says Nomura's Sonal Varma

"India will have the benefit of lower subsidy bills, helped by a fall in international fertilizer prices and a readjustment of the nation's free food program," she said

Premature to think India will replace China in influencing growth: Rajan

Former RBI governor Raghuram Rajan on Tuesday said it is too premature to think that India will replace China when it comes to influencing global economic growth

73% CEOs globally expect eco growth to decline over the year: PwC survey

In the most pessimistic outlook in more than a decade, a global survey of CEOs on Monday showed 75 per cent of them expecting the global economic growth to decline over the next 12 months. Releasing the annual survey on the first day of the World Economic Forum Annual Meeting here, PwC said this is a significant departure from the optimistic outlook of 2021 and 2022 when more than two thirds thought economic growth would improve. This is the most pessimistic CEOs have been regarding global economic growth since PwC began asking this question 12 years ago. The survey further showed that nearly 40 per cent of CEOs do not believe their organisations would be economically viable in 10 years if they do not transform. Inflation, macroeconomic volatility and geopolitical conflict ranked as the top global threats while cyber and health risks fell from a year ago. The survey also showed that companies are cutting costs but do not plan yet to reduce headcount or salaries in their fight to .

China's trade tumbles sharply in Dec, clouds 2023 growth outlook

Exports contracted 9.9 per cent year on year in December, extending a 8.7 per cent drop in November

Top headlines: World Bank cuts economic growth forecast, DESH Bill deadlock

Business Standard brings you the top headlines at this hour

This Budget's focus should be on expenditure, not taxation: Pronab Sen

Revival in capex in the non-corporate sector, which is our MSME (micro, small, and medium enterprises) sector, is beginning now

No K-shaped recovery in India, pandemic 'leveler' to reduce inequality: SBI

Economists at the country's largest lender SBI on Monday dismissed the 'K-shaped recovery' critique, saying the pandemic was a 'leveler' which helped in reducing inequalities. They said government transfers to the poor alone are adding up to Rs 75,000 per household per annum. It can be noted that in the months following the outbreak of the COVID-19 pandemic, concerns were being raised about deepening inequalities in India, with some calling it as a 'K-shaped' recovery, where rich emerged richer while the poor slipped down further. After analysing data and studies, the SBI economists said, " in hindsight, the pandemic may have been a leveller in terms of inequality with the poor getting protected through measures such as food transfers." It said India has delivered a sharp recovery after the pandemic and acknowledged that critics are still quoting it as a K-shaped recovery for India. " It is true that the strong rise in financial assets resulted in an increase in inequality in 2021

Freebie culture hurting economic growth, must end: L&T chairman A M Naik

Developing infrastructure should be the govt's top priority, says L&T chairman

Price stability top priority for South Asia: RBI governor Shaktikanta Das

'Approach to disinflation' needs to consider risks to growth outlook, says Shaktikanta Das

PM Modi to chair second National Conference of Chief Secretaries in Delhi

The three-day Conference, from 5-7 January, will focus on achieving rapid and sustained economic growth in partnership with the States

Opportunities and choices in the Budget

Fiscal consolidation is needed if India is to seek sustainable private sector-led growth

Infra brushstrokes for the Budget

There are seven key areas that the FY24 Budget needs to address to re-energise the infrastructure sector

Top Headlines: India ups windfall tax on crude, 6.5% growth likely in FY24

Business Standard brings you the top headlines at this hour

Investors must have moderate return expectations in 2023: Nippon India exec

Earnings could be challenging as global economic growth is weakening, says Sailesh Raj Bhan

Indian stocks top Asian markets, strong economic growth fuels hope

Next year's optimism for India is driven by strong corporate earnings, a post-pandemic retail boom and an economy set to grow by 6% in the next fiscal year

Revisiting international trade's role in domestic development

Unlocking trade-enabled economic development alongside tenets of development including gender equity, income inequality, infrastructure, and other SDGs is very much possible

Austria's economy expected to face stagnation in 2023 amid energy crisis

With the projected stagnation in 2023, the country's economy is expected to return to significant growth of 1.8% in 2024

ADB keeps India's GDP growth unchanged at 7% for current financial year

Asian Development Bank (ADB) has kept its outlook for India's economic growth unchanged at 7 per cent for the current fiscal year while forecasting a weaker-than-previously expected pace for developing Asia. ADB's 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22. For 2023-24, the GDP growth has been kept unchanged at 7.2 per cent. The Manila-based ADB in a report on Wednesday saw Asia expanding 4.2 per cent this year before accelerating to 4.6 per cent in 2023. These projections compare to the previously estimated expansion of 4.3 per cent and 4.9 per cent, respectively. "Despite recent global headwinds, the Indian economy is expected to grow by 7.0 per cent, as projected in the Update, supported by a strong domestic base. "While some recent high-frequency indicators are more favourable than expected -- notably consumer confidence, electricity supply and purchasing ...

We see trade with India growing two-fold in next 5 years: Ontario minister

In a Q&A, Victor Fedeli says several top Indian companies are continuing to build their presence in the Canadian province despite concerns of tighter global financial conditions