Page 6 - Economic Growth

S Korea's top think tank lowers growth projection, citing Trump's tariffs

South Korea's top economic think tank slashed its growth forecast for the country's economy for the second time in four months on Tuesday, expressing concern about the impact of US President Donald Trump's expanding tariffs. The Korea Development Institute now projects South Korea's economy to grow by 1.6 per cent in 2025, which is 0.4 percentage points lower than its previous estimate announced in November. Kim Jiyeon, a KDI economist, said the deterioration of the trade environment following Trump's inauguration was a major factor. South Korea is also grappling with political instability caused by the impeachment and criminal indictment of President Yoon Suk Yeol after he briefly imposed martial law in December. Domestic demand remains weak due to slowing consumer spending and a declining job market, and the pace of exports is slowing with most key industries aside from semiconductors struggling to find momentum, said Jung Kyuchul, who heads KDI's macroeconomic analysis department

India can achieve 7% growth rate and should aspire for more: RBI Governor

RBI prioritises growth as inflation cools, cuts repo rate to 6.25% in Feb 2025 MPC meeting

Almost all of govt borrowing going for asset creation: FM Sitharaman

Sitharaman spoke on issues ranging from the theme of the Budget to income tax relief and challenging geopolitical environment

Budget 2025: Focused on fiscal discipline, growth, and tax relief

Overall, the government has taken a disciplined approach in this Budget, keeping long-term benefits in mind

Pakistan's economic growth stalls despite interest rate cuts: Report

Pakistan failed to kick-start economic growth in the first seven months of the current fiscal year despite a massive 10 per cent reduction in the interest rate by the central bank during this period, according to a media report. The State Bank of Bank in the latest cut on January 27 further reduced the interest rate by 1 per cent to set it at 12 per cent, a whopping 10 per cent down from 22 per cent in June last year. It was expected the decision would help to increase money supply and growth. The Dawn newspaper reported that despite a steep fall in the interest rate, the monetary expansion remained negative during the first seven months of the current fiscal year, noting that the frequent declines in interest rates resulted in a massive outflow of liquidity from banks to the private sector and non-bank financial institutions (NBFIs). Still, it has failed to stimulate economic growth, it said. Bank advances to the private sector and NBFIs increased sharply in the second quarter of

Globalisation may be a thing of the past, says CEA V Anantha Nageswaran

Addressing a press conference on the Economic Survey 2024-25, Nageswaran told reporters, "Regulations disproportionately affect small businesses

Indian economy expected to grow 6.3-6.8% in 2025-26: Economic Survey

Budget 2025: GDP projections in line with international agencies including International Monetary Fund (IMF), Asian Development Bank (ADB), and World Bank

Banks to continue good run with caution and innovation, say PSB CEOs

The economy is very strong and on sound footing and we, as banks, typically mirror the economy

Germany cuts 2025 economic growth forecast to 0.3% after two-year slump

The German government on Wednesday slashed its 2025 growth forecast for the country's economy, Europe's biggest, to just 0.3% after it shrank for two consecutive years. The new projection is much lower than the government's previous forecast of 1.1% growth, issued in October. Germany has managed no meaningful economic growth in the past four years as it has struggled to deal with major shifts in the global economy and with structural challenges of its own. Preliminary figures released two weeks ago showed that gross domestic product contracted by 0.2% last year, following a 0.3% decline in 2023. The economy is one of the top issues in the campaign for an early German parliamentary election on Feb. 23. It is being held seven months before it was originally scheduled after Chancellor Olaf Scholz's three-party coalition collapsed in November in a dispute about how to revitalise the economy. Contenders to lead the next government have made contrasting proposals on how to get it growing

Dare to be different? Budget FY26 must prioritise growth and employment

If India wants more growth and jobs, business-as-usual won't do the trick

Taming inflation: How Union Budget can address economic challenges

By easing supply-side constraints and using counter-inflationary tariff policy, the finance ministry can ensure prices remain in check

Govt to tighten fiscal purse despite slowing economic growth: Reuters poll

An expected fiscal deficit of 4.5% of gross domestic product represents a slight tightening of the purse compared with the fiscal year about to end, at 4.8%

Andhra Pradesh govt to develop Data City near Vizag, create 2 mn jobs

In line with the Telugu Desam Party's election promise to create 2 million jobs within five years, the state government has unveiled plans to develop the Data City in Madhurawada

Bank of Japan raises interest rates to highest level since 2008 at 0.5%

The hike is part of the BOJ's plan to gradually increase rates to a neutral level of around 1% to sustain economic stability

Indian economy projected to grow in range of 6.5-6.8% in FY25: Deloitte

Deloitte India on Tuesday projected India's GDP to grow at 6.5-6.8 per cent in the current fiscal and said India will have to adapt to the evolving global landscape and harness its domestic strengths to drive sustainable growth. In its Economic Outlook report, Deloitte India also said the country needs to decouple from global uncertainties and harness its domestic potential. Despite global and domestic challenges, India is moving up the global value chains, as highlighted by the rising share of high-value manufacturing exports, particularly in electronics and machinery and equipment. Deloitte India, in its latest Economic Outlook, has revised its annual GDP growth projection for FY2024-25 to 6.5-6.8 per cent, with expectations for 6.7-7.3 per cent in the following year. The adjustment reflects the need for cautious optimism as the economy navigates rising global trade and investment uncertainties. In its Economic Outlook report in October, Deloitte India had projected the country's

An uncertain world: India needs to improve its economic growth potential

The challenge for policymakers in India is to protect financial stability and find ways to increase growth potential at a time when global growth is likely to be below trend

Startup India initiative sparks nation's modern entrepreneurial revolution

India has historically been an entrepreneurial nation, accounting for 25-35 per cent of global GDP through the centuries

India to become world's third-largest economy by 2027: Piyush Goyal

Union Minister of Commerce and Industry, Piyush Goyal on Tuesday said that by 2027, India will be the world's third-largest economy, ahead of Japan and Germany. Addressing the annual meeting of Tamil magazine 'Thuglak' here, Goyal said, "What did Mr Modi do in ten years? He took India from the 11th largest GDP to the fifth-largest GDP." Further, the minister said that the then Union Finance Minister P Chidambaram in his interim budget of 2014 had predicted that in the next 3 decades, India's nominal GDP would take the country to the third rank, after US and China. Chidambaram had predicted in 2014, a 30-year duration for India to become the third-largest GDP, he noted. "What did Mr Modi do? He said I will do it in less than half that time and I assure you friends, by 2027, India will be the world's third-largest economy, ahead of Japan and Germany; in only 13 years and not 30 (years), that is Prime Minister Modi's commitment and courage of conviction," Goyal asserted. Also, he sai

Community validation for inclusive outcomes: Mission Antyodaya for SDGs

With updated SECC 2011 data, Mission Antyodaya supports truly inclusive, evidence-based planning, enabling poverty-free GPs through decentralised action

SBI lowers India's FY25 GDP growth forecast to 6.3%, below NSO's 6.4%

Despite projected growth rates of 6 per cent in first half of FY25, with a pickup to 7 per cent in the second half, SBI flags weak private investment as a concern to economic growth