Page 7 - Economic Growth

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

Centre focuses on new strategy to tackle mounting economic challenges

Asia's third-largest economy forecast annual growth of 6.4 per cent in the fiscal year ending in March, the slowest in four years

FY25 GDP growth may slip to 4-yr low of 6.4%: NSO's first advance estimates

Falls short of RBI estimate; better showing in agri and manufacturing expected in H2

Budget needs to prioritise strategies for sustainable economic growth

The government is unlikely to be pleased with the FAE, which could increase challenges both for the current year and the medium term

India's GDP likely to grow 6.4% in 2024-25, show first advance estimates

Economic Survey had projected a GDP growth of 6.5% to 7%. This was later revised to 6.5% by the finance ministry in November 2024

Prosenjit Datta's book highlights facts about India's development goals

Prosenjit Datta's simply argued and logically constructed book encourages readers to look beyond political posturing for the facts on India's developmental goals

Shooting itself in the foot - again: This trade barrier hurts India more

The real problem with India's trade policy lies in a seemingly innocent administrative procedure that doesn't sound half as dangerous as tariffs

India eyes robust growth in 2025, tackling inflation and global headwinds

India will have to navigate geopolitical headwinds, tame domestic inflation and nudge the private sector to further loosen their purse strings as the world's fastest-growing major economy seeks more purple patches in 2025, leaving behind September quarter growth blues. Economists at the Reserve Bank of India (RBI) say that high-frequency indicators for the third quarter of 2024-25 indicate the economy is recovering, driven by strong festival activity and a sustained upswing in rural demand. In what has been described as a "temporary blip" by Union Finance Minister Nirmala Sitharaman, the country's economic growth slid to a seven-quarter low of 5.4 per cent in the July-September period after clipping a healthy rate of 7-8 per cent. With the growth versus inflation debate leaving the finance ministry and RBI on different pages, all eyes will also be on possible interest rate cuts in February when the central bank's monetary policy panel meets for the first time under the new Governor

The India story: Progress in manufacturing sector but key challenges remain

The fourth part of the series assesses what it will take to encourage domestic manufacturing, while also being an alternative to China

The India story: How India, the 'bright spot', can continue to shine

The third part of the series looks at the areas it needs to focus on to realise its $5 trillion ambition and be counted among the top three economies

Need to guard against risks of currency appreciation: RBI MPC member Kumar

Says expanding the manufacturing sector could also help in containing inflationary pressures by enhancing the supply capacity