Economy Growth

Pakistan's economy recovers, but rising terrorism threats test stability

The resurgence of terrorism in Pakistan's wild west has complicated Sharif's already difficult job

UP CM reviews $1 trn economy target, calls for accountability, reforms

Uttar Pradesh Chief Minister Yogi Adityanath on Sunday reviewed the state's progress toward achieving the One Trillion Dollar Economy (OTDE) target and directed all departments to fulfill their responsibilities. Chairing a meeting attended by additional chief secretaries, principal secretaries, and department heads, Adityanath emphasized key policy reforms, budget utilization, and public welfare initiatives. He instructed departments to simplify processes and enhance efficiency, stressing that empaneled hospitals under Ayushman Bharat and Mukhyamantri Jan Arogya Yojana must receive payments within a month. The empanelment process for new hospitals should also be streamlined, he added. The Chief Minister directed officials to submit proposals for dedicated Anganwadi buildings, assuring full government support. Highlighting the expected GDP boost from the upcoming Maha Kumbh in Prayagraj, he called for an economic impact analysis and said that efforts should be made to identify and .

Five years on, economic impact of Covid-19 still reshaping markets

Though the immediate shock has passed, Covid-19's legacy continues to reshape global economies and markets

Euro rallies as Germany's historic debt overhaul boosts growth outlook

Germany's bond yields surged as investors digested the additional borrowing expected to back the debt overhaul

GDP growth during current fiscal estimated to be 6.3%: SBI research

The State Bank of India (SBI), in its research, has estimated GDP growth during the current financial year (2024-25) to be 6.3 per cent, assuming that the NSO does not make major revisions to the erstwhile first and second quarter estimates. The report said that leveraging 36 high-frequency indicators, the estimated GDP growth for the third quarter of the current financial year should be between 6.2 per cent and 6.3 per cent. According to the National Statistics Office (NSO), the real and nominal GDP growth rates for 2024-25 are projected at 6.4 per cent and 9.7 per cent, respectively. The report said that a healthy rural economy is reinforcing stability and sustains momentum in other sectors. The slowdown in the current household inflation expectations encourages higher discretionary spending and drives demand-led growth, the report said. Capital expenditure is showing improvement in the third quarter of the current financial year, the report said. The slowdown in the third quar

India's $556 bn equity rout worsens amid growth, inflation concerns

The benchmark NSE Nifty 50 Index will likely drop at least 5 per cent in the three-months through March

Aiming to make Maharashtra $1 trillion economy by end of decade: Fadnavis

Maharashtra Chief Minister Devendra Fadnavis on Thursday said it would be the state's endeavour to become the country's first to have a USD 1 trillion economy by the end of this decade. While being interviewed in a programme titled 'Envisioning $1 Trillion Maharashtra' organised by Sakal News Group and Pune Public Policy Festival (PPPF), Fadnavis said, "It is being predicted that by 2032, Maharashtra will become USD one trillion economy. The reason for this prediction is that last year, we already surpassed the halfway mark. If we try a little hard, we can achieve the target by 2028, 2029 or 2030." "It would be our endeavour to make Maharashtra the first sub-national $ 1 trillion economy. Other states are way behind and they will take time to catch up with us. The youthful human resource of the state will contribute to this milestone," he added. By 2029, Maharashtra will be number one in every sector and will work as the growth engine of the country.

Despite moderation, India will be fastest growing economy: N Chandrasekaran

Tata Group Chairman N Chandrasekaran highlighted three major transitions in the world, including shift to renewable energy, that are moving in line with India's strengths

Meghalaya in 2024: $100 bn economy vision, majority for NPP, killer flood

Declaration of the vision for a USD 100-billion economy by 2047, the NPP securing majority, a devastating flood wreaking havoc as well as the unearthing of a multi-crore road project scam Meghalaya remained witness to a year of myriad developments in 2024. Hoisting the tri-colour at the Polo Grounds here on the occasion of Independence Day, Chief Minister Conrad K Sangma had unveiled the 'Viksit Meghalaya', the roadmap for a USD 100-billion economy by 2047. "I aspire for a 'Viksit Meghalaya' a USD 100-billion economy by 2047 when we celebrate the 75th anniversary of our statehood and the country's 100 years of independence," Sangma had said. In August this year, the National People's Party (NPP) got a shot in the arm when three out of the total four Congress MLAs joined the ruling party, increasing its strength to 31 in the 60-member assembly. The NPP secured a majority on its own in Meghalaya, which is ruled by a coalition, comprising other parties such as the UDP and BJP. Forme

1% rise in m-cap leads to 0.6% rise in GDP growth rate: SBI Eco Research

Savings of households in 'shares and debentures' has increased to 1 per cent of GDP in FY24, from 0.2 per cent in FY14

Corporate irregularities can impact economy at large: Justice Kumar

Justice Kumar added that regular audits and proper disclosures are essential to avoid instances of poor corporate governance, which may lead to the breakdown of a company

Economic empowerment of women will lead to country's progress: Prez Murmu

President Droupadi Murmu on Wednesday said economic empowerment of women will lead to the country's progress and development. She also asked women to avail of the welfare schemes of the Centre and the state government. Addressing a gathering here, where the beneficiaries of the Eknath Shinde-led government's 'Mukhyamantri Majhi Ladki Bahin Yojana' and 'Shashan Aplya Dari' programmes were given certificates, she said the economic empowerment will result in the personal growth of women, who account for half of the country's population. President Murmu expressed happiness that the Maharashtra government has set the target of making 25 lakh women Lakhpati Didis (women earning more than Rs one lakh per year). She said she was happy to note that 13 lakh women have already become Lakhpati Didis. "The Centre has revised the target of Lakhpati Didis from one crore to three crore," the president said. Murmu asked women to take care of their health while caring for their families. "If you

Japan's economy grew last qtr on healthy consumer spending, investments

Japan's economy grew at an annual rate of 3.1% in the April-June period, rebounding from the contraction in the previous quarter, government data showed Thursday. The world's fourth largest economy grew 0.8% in the fiscal first quarter, according to the Cabinet Office. Seasonally adjusted gross domestic product, or GDP, measures the value of a nation's products and services. The annual rate shows how much the economy would have grown or contracted, if the quarterly rate had continued for a year. Domestic demand grew a robust 3.5% from the previous quarter on the back of healthy household consumption and private sector investments, as well as government investments. Exports grew a booming 5.9%. Japan's GDP shrank 0.6% in January-March on quarter, after eking out 0.1% growth in October-December last year. Economic growth went back and forth between such periods of contraction and weak expansion for the past year. Today's GDP data signal that the virtuous cycle between income and ...

India likely to have highest per-capita income growth, says report

Study pegs growth at 5.4% during 2024-33

PM Modi's new govt spending plans to remain in line with early projections

A modest expenditure plan could give an extra fillip to India's bond market, where benchmark yields are edging toward a 2-year low

Thailand to roll out disputed $13.8 bn plan in digital money to citizens

Thailand's prime minister said on Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy. The government announced in April the widely criticised ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about USD 275) to 50 million citizens in digital money to spend at local businesses. Prime Minister Srettha Thavisin posted on the social platform X, saying the registration will begin on August 1 and that he has given instructions to ensure the smooth implementation of the program. The Digital Wallet was a major campaign promise of the ruling Srettha's Pheu Thai party ahead of last year's general election. The government says that this scheme will cause an economic tornado, and Srettha has said the stimulus and subsequent consumption are expected to boost gross domestic product growth by 1.2 to 1.6 percentage points. However,

Reforms in customs duties, GST, commerce to push India's growth: GTRI

Implementation of key strategic reforms such as simplification of customs duty structure, GST, and not incentivising low value-added electric vehicles would help India ensure its sustainable development and inclusive growth, GTRI said on Thursday. Economic think tank Global Trade Research Initiative (GTRI) also said that India is standing on the cusp of a transformative era and there is an urgent need for comprehensive economic reforms. "From simplifying the convoluted customs duty structure to pioneering regulatory sandboxes for cryptocurrencies, and from boosting the MSME sector through GST (Goods and Services Tax) reforms to fortifying our energy security, this agenda lays the foundation for a robust, resilient, and globally competitive India," it said. It said that the current basic customs duty structure, which affects USD 680 billion worth of imports, has not been reviewed in 20 years, leading to over 27 different duty rates and over 100 specific or mixed duty slabs. Currentl

IBBI proposes compliance procedures for IPs, seeks stakeholder feedback

The IBBI has proposed changes to the corporate insolvency resolution process (CIRP) forms and compliance framework to reduce compliance burden on insolvency professionals, and sought stakeholders' comments by July 1. These changes will reduce the amount of information and data that insolvency professionals (IPs) need to submit, thereby enhancing efficiency and reducing redundancy. The Insolvency Bankruptcy Board of India (IBBI) has also proposed to remove duplicate submissions and simplification of the reporting process. Under the discussion paper issued on June 10, the IBBI said the proposed changes will "simplify the compliance process by combining various reporting system on IP and IBBI website into a single, centralised IBBI website, eliminating duplication, and making it easier for stakeholders to access and use". The IBBI -- a statutory body functioning under the corporate affairs ministry -- has invited stakeholders to provide comments on the discussion paper by July 1. The

UP on track to become $1 trn economy, speed needs to double: CM Yogi

He said that when assessing the state's economic growth rate against national standards, efforts have yielded commendable results

Stock market future trajectory depends on new govt's policies, GDP growth

Future trajectory of stock market hinges on the new government's economic policies, with factors like GDP growth, inflation, and global conditions playing a key role, experts said on Tuesday. With the BJP-led NDA still looking to form a government, though with the important support of coalition partners, markets look jittery about the prospects of strong decision making. In fact, experts cautioned investors to be prepared for volatility due to currently high valuations and suggested adopting a diversified approach. Benchmark equity indices Sensex and Nifty tanked over 8 per cent in intra-day on Tuesday and later ended nearly 6 per cent lower, suffering their worst decline in four years, as trends showed the ruling BJP is short of clear majority in the Lok Sabha elections. Sensex crashed 4,389.73 points to settle at 72,079.05 and Nifty tanked 1,379.40 points to 21,884.50. However, markets jumped sharply on Monday after exit polls predicted a massive win for the BJP-led NDA in the Lo