Economy

IMF hasn't questioned GDP growth figures, says FM Nirmala Sitharaman

India got a 'C' grade only for its national accounts data because the base year used is still 2011 to 2012

US HIRE Act a greater concern than H-1B visa fee hike: Raghuram Rajan

The US HIRE Act aims to boost job creation in the US by discouraging companies from outsourcing work to other countries

GST net revenues inch up 0.6% in October; refunds jump nearly 40%

Muted domestic mop-up reflects rate-cut impact, festive deferment; import GST boost cushions growth

RBI board meets in Udaipur, reviews economic, geopolitical developments

The Reserve Bank's central board on Friday held a meeting in Udaipur and reviewed global and domestic developments. "The Board assessed the emerging global and domestic economic landscape, including the evolving geopolitical and financial market developments and associated challenges," an official statement from the central bank said. It "assessed" the activities of Deposit Insurance and Credit Guarantee Corporation (DICGC), the statement, which comes amid announcements on steps to increase the coverage amount under the scheme, said. Select Central Office Departments' working, including the Consumer Education and Protection Department, was also reviewed by the board, it added. This was the 619th meeting of the central board of directors of the RBI, it said, adding that Governor Sanjay Malhotra chaired the meeting. Deputy Governors T Rabi Sankar, Swaminathan J, Poonam Gupta and S C Murmu, and other directors, including financial services secretary M Nagaraju, economic affairs secre

Trump tariffs may cost firms $1.2 trn, consumers to bear burden: S&P Global

S&P Global report states that two-thirds of the total additional cost will be passed on to the consumers via higher prices, while one-third ($315 billion) is absorbed internally through lower earnings

Echoes of 2007 grow louder as risky debt, buyouts raise concerns

There are some key differences between now and 2007. Banks are more heavily regulated and have larger equity cushions. Consumers haven't borrowed as much this time around

Industrial classification set for a makeover, in line with new-age economy

An overhaul of the National Industrial Classification framework seeks to include multiple new activities that better capture a changing economy, data from which is expected to help policymaking

China’s economy slows down in August: What it means & why it matters | Unemployment | Demand

China’s economy lost steam in August, with weak factory output, retail sales, and investments dragging growth. Watch the video to know what it means and why it matters.

India's net GST kitty increases 10.7% to ₹1.67 trillion in August

Gross GST collections in August, for transactions undertaken in July, stood at about Rs. 1.86 trillion, 4.8 per cent lower than the previous month

₹2000 notes worth ₹5,956 crore remain in circulation in 2025: RBI

The high-value Rs 2000 notes worth Rs 5,956 crore are still in circulation, more than two years after the Reserve Bank's withdrawal of the currency notes, according to official data released on Monday. The Reserve Bank of India (RBI) had announced the withdrawal of Rs 2000 denomination banknotes from circulation on May 19, 2023. Rs 2000 banknotes continue to be legal tender. In a statement, the central bank said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, has declined to Rs 5,956 crore on August 31, 2025. "Thus, 98.33 per cent of the Rs 2000 banknotes in circulation as on May 19, 2023, has since been returned," it said. The facility for exchange of the Rs 2000 banknotes is available at the 19 issue offices of the RBI since May 19, 2023. From October 9, 2023, RBI issue offices are also accepting Rs 2000 banknotes from individuals/entities for deposit into their bank accounts. Further, public can send

Indian economy likely grew solidly before Trump tariffs hit outlook

India's gross domestic product probably expanded 6.7 per cent in the three months to June, the first quarter of the financial year, according to the median estimate in a Bloomberg survey

India may become world's second-largest economy by 2038: EY report

India's economy could reach USD 20.7 trillion in terms of purchasing power parity (PPP) by 2030 and may emerge as the second-largest economy by 2038 with USD 34.2 trillion GDP, an EY report said on Wednesday. The report also said that with appropriate countermeasures, India can limit the adverse impact of higher US tariffs on selected Indian imports to about 10 basis points of real GDP growth. India is emerging as one of the most dynamic among the world's five largest economies, with strong economic fundamentals including high savings and investment rates, favourable demographics, and a sustainable fiscal position, said the the August 2025 issue of EY Economy Watch. Despite global uncertainties such as tariff pressures and slowing trade, India's resilience stems from its reliance on domestic demand and increasing capabilities in modern technologies, it said. The report examines the comparative economic profile of the five largest economies against the backdrop of US tariff ...

India should negotiate trade deal with US on its own terms: EAC-PM chief

India should negotiate a trade agreement with the US on its own terms, keeping in view the national interest, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev has said. Dev expressed hope that India will have an advantage over other countries on tariffs once the Free Trade Agreements (FTAs) are signed, and it would boost exports. "The overall approach of India is negotiating trade agreements with countries on its own terms and keeping in view the national interests. The negotiations are going on and the ultimate decision depends on the mutual interests of both countries," he told PTI. US President Donald Trump has said the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday. Under the US-Indonesia trade pact, the Southeast Asian nation will provide complete access to its market to US products, while Indonesian goods would attract a 19 per cent duty in America. In addition, Indonesia has commit

Trade war: A second chance for India to attract global manufacturing

Services trade from India has become a major success. From 2005 to 2023, India's share of global services exports doubled - from under 2 per cent to over 4 per cent

Kerala's fishing economy reels from back-to-back maritime disasters

Back-to-back ship accidents in the Arabian Sea halt fishing, stir fears of contamination, and threaten the livelihoods of over a million people in Kerala

Zero-for-Zero Tariffs: Rethinking Trade Liberalization

In this SmartCut episode, Dr. Shikha Jain, Director of IMDR Pune, unpacks Zero-for-Zero Tariffs, their history, benefits, challenges, and why India needs to rethink trade liberalisation. >

Multi-partisanship for reforms can help India unlock stalled growth

Unravelling the Gordian knots in the ease of doing business demands wisdom from across the political aisle

Maharashtra to become $1 trillion economy by 2030, says CM Fadnavis

Maharashtra Chief Minister Devendra Fadnavis on Wednesday said his government has charted out a multidimensional roadmap for the state's progress and it will become a USD 1 trillion economy by 2030. "Maharashtra is firmly on the path to becoming a trillion-dollar economy by 2030," Fadnavis said while addressing the "India Investment Forum 2025" here. At the meet, the CM presented a comprehensive overview of Maharashtra's economic, industrial, social, and environmental strides. He highlighted that the state's economy has already crossed the half-trillion-dollar mark. An Economic Advisory Council (EAC), headed by Tata Sons chairman N Chandrasekaran, in collaboration with 20 senior CEOs, has developed a robust roadmap covering infrastructure, industries, services, agriculture, and fintech sectors in Maharashtra, the CM noted. He announced that the "Viksit Maharashtra 2047" blueprint will be unveiled on October 2, featuring short-term, mid-term, and long-term goals. The Chief ...

VP Dhankar urges farmers to explore agro products to increase income

Vice President Jagdeep Dhankhar on Thursday asserted that the income of people has to increase eightfold to define Viksit Bharat and urged farmers to look beyond agriculture and explore agro-based products to increase their income. Talking to reporters after paying tributes to former prime minister Charan Singh on his death anniversary here, the vice president said Viksit Bharat, or a developed India, does not refer to the rank of the nation's economy in the world. He felt that to define Viksit Bharat and make it a ground reality, people's income has to increase eightfold. Expressing confidence that such a development will certainly happen, provided farmers are far-sighted, Dhankar said farmers make a lot of effort in cultivating and harvesting crops, but beyond that their role is negligible. He also called on farmers to increase their participation in the animal husbandry and agro-based industry. Dhankhar highlighted that the entire food processing industry is based on farm produ

Japan loses world's top creditor spot to Germany after 34-year reign

Japan's net external assets hit ¥533.05 trillion ($3.7 trillion) in 2024, a 13% rise from last year, but it was surpassed by Germany, which now leads in net external assets