Page 33 - Economic Growth

Annual Economic Survey explained

Before the Union Budget, the govt releases the Economic Survey. It is an annual document that offers a peek into India's economic development over the previous fiscal year. This report explains more

J&K's economy can be scaled up to Rs 3.6 trillion within 5 yrs: Chief secy

Jammu and Kashmir Chief Secretary Arun Mehta has said with the collective efforts of the administration and banks, the economy of the Union Territory can be scaled up to Rs 3.60 lakh crore within the next five years. Mehta stated that the administration is committed to lower the unemployment rate in Jammu and Kashmir to below the five per cent mark and directed the banks to provide its facilities in identified uncovered villages by March 31. "With the collective efforts of the government and banks, the economy of Jammu and Kashmir, which is presently at around Rs 1.80 lakh crore, can be scaled up to Rs 3.60 lakh crore within next five years," Mehta said. Chief Secretary and Deputy Governor of Reserve Bank of India, M K Jain on Friday co- chaired the special meeting of J&K level bankers' committee to review the measures taken by banks in enhancing the flow of credit in UT. Informing that digitisation of land records in Jammu and Kashmir has been completed and access to land records

HSBC sees coronavirus surge slowing India's economic growth this year

Economic cost will be there, but hopefully it will just be about a third or lower than the economic cost of previous waves, HSBC economist Pranjul Bhandari said

Japan's manufacturing activity growth softens in December: Report

The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) in December fell to 54.3 on a seasonally adjusted basis, easing from the previous month's 54.5

At 7.2%, Singapore's 2021 GDP grows at fastest pace in over a decade

The city-state's economy grew 7.2% in 2021, preliminary data showed on Monday, broadly in line with the government's official projection and rebounding from the record 5.4% contraction in 2020

India's economic growth rate over 8%, foreign investment at record high: PM

Prime Minister Narendra Modi on Saturday said that the country's economic growth rate is over 8 per cent.Speaking at the release of the 10th installment of financial benefit under PM-KISAN, the Prime Minister said that the foreign investments, forex reserves, and GST collections are also at record high levels."Today the growth rate of our economy is more than 8 per cent. Record foreign investment has come to India. Old records have also been broken in the GST collection. We have also set new paradigms in the matter of exports and especially agriculture," said PM Modi.PM Modi said that it is time to start a "new vibrant journey" of the country's resolves in the year India will complete 75 years of independence."Today, as we are entering the new year, taking inspiration from our efforts of the past year, we have to move towards new resolutions. This year we will complete 75 years of our independence. This is the time to start a new vibrant journey of the country's resolves, to move ...

Indicators show Indian economy was growing steadily before Omicron hit

All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called 'Animal Spirits' unchanged at 5

Less economic activity in lockdown led to low air pollution in most parts

According to the study, ozone, carbon monoxide and NO2 showed an increase of about 15 per cent over the central-western part of India

Growth momentum loses steam in Nov amid demand, supply disruption: ICRA

Rating agency ICRA on Friday said the growth momentum lost steam in November 2021 on the back of "some satiation" of pent-up demand as well as supply chain disruptions

Motilal Oswal cuts FY23 growth forecast to 6.3% amid growth 'uncertainty'

The estimate is lower than the market consensus of 7.6 per cent, and the RBI's more optimistic 8-8.5 per cent, Motilal Oswal said

Mobile internet enabling inclusive growth: Nobel laureate Michael Spence

Nobel prize winning economist Michael Spence said that mobile internet is enabling inclusive growth and opening up employment opportunities.

Web 3.0 a $1.1 trn growth opportunity for India: USISPF-CrossTower research

Digital assets like Bitcoin, Ether, Solana, etc are the fuel of future financial ecosystem and Web 3.0, report says; CrossTower chief says India's stance on crypto is unfavourable

Omicron likely to reinforce IMF downgrade of global growth forecasts: MD

Omicron variant is likely to reinforce a downgrade of IMF's outlook on the global economy, Managing Director Kristalina Georgieva said

NITI Aayog's unflattering report vexes Nitish Kumar govt in Bihar

The Nitish Kumar govt in Bihar has reacted with dismay to the Niti Aayog report on poverty index, which places the state among the bottom-ranking ones

Germany's independent economic advisers cut 2021 growth forecast

The German government's panel of independent economic advisers on Wednesday cut its 2021 growth prediction for Europe's biggest economy to 2.7%, the latest in a series of downgrades by forecasters

Asian factories shake off lockdown blues, now face supply headaches

Factory activity in October expanded in Vietnam, Indonesia and Malaysia as operations gradually normalised after being hit by shutdowns caused by a spike in COVID-19 infections.

Recovery tracker: Lower power generation, decline in workplace visits

Traffic congestion rose during the latest week

Pandemic resurgence slows recovery in Asia: IMF's Asia-Pacific Regional Economic Outlook

The growth projection for the Asia and Pacific region downgraded by more than 1 percentage point from April 2021 forecasts to 6.5%

Indian economy to see 10.5% or higher growth this fiscal: Niti Aayog VC

Indian economy is expected to grow 10.5% or more in the current fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Thursday

India looks at close to double digit growth this year: Sitharaman

India is looking at near close to double-digit growth this year and the country will be one of the fastest-growing economies, Finance Minister Nirmala Sitharaman has said.