Page 3 - Economy Growth

Nifty likely to reach 25,810 by December 2024: Prabhudas Lilladher

The NSE benchmark Nifty is likely to reach the 25,800 level by December 2024 as stable economic policies and normal monsoon will boost demand growth, Prabhudas Lilladher said in a report on Thursday. The index is currently trading at 22,570.35 level. Going by the prediction of Prabhudas Lilladher, the Nifty is expected to climb another 3,239.65 points or 14.35 per cent from its current level by December-end this year. "Recently, the Nifty reached its all-time peak, but subsequently experienced a correction of around 4 per cent attributed to escalating geopolitical tensions, fluctuations in crude oil and commodity prices, and differing perspectives on the anticipated interest rate adjustments by the US Federal Reserve," Amnish Aggarwal, Head of Institutional Research, Prabhudas Lilladher, said. The Nifty is expected to scale up to 25,810 levels by December 2024, Aggarwal added. "The upward mobility in Nifty is attributed to the continuation of the NDA government and La Nina led norm

Sensex closes above 75,000 mark for first time, RIL and ITC gains

But hotter-than-expected US inflation may put brakes on the rally

Strong showing: Markets end year of records on a high, Nifty rises 29%

Despite the recent selloff, the Nifty Smallcap 100 and the Nifty Midcap 100 indices gained 70 per cent and 60 per cent, respectively

Feasibility check of four Indian states in pursuit of a $1 trn economy

Uttar Pradesh and Maharashtra aim to achieve this milestone by 2027-28, while Tamil Nadu targets 2030-31 and Karnataka aims for 2031-32

Banks' asset quality to improve in next six months as economy grows: Survey

FICCI, Indian Banks' Association survey had 23 respondents represent 77% of industry by asset size

India has moved to 5th spot from 10th in world in terms of economy: FM

Union Finance Minister Nirmala Sitharaman on Friday said under Prime Minister Narendra Modi's leadership, India has moved up to the fifth position from the 10th spot in the world in terms of economy. "In the next year and a half, we will be at the third position," she said, adding that the standard of living of the citizens is better in a country that has a strong economy and everyone benefits from it. The senior Bharatiya Janata Party (BJP) leader said this is the first government in the country that listens to people, then makes schemes and works to deliver the benefits of such schemes to people. "The BJP is such a party in which even the smallest worker can reach the highest position by working for the party," she said. Claiming that the INDIA opposition bloc has disintegrated, Sitharaman said nothing is achieved by taking photographs. "They (Congress leader Rahul Gandhi and Samajwadi Party chief Akhilesh Yadav) have nothing left to say to the public. Prime Minister Modi has a

Economy likely to grow 7% in 2024-25, inflation to ease further: RBI Guv

Indian economy should record a growth rate of 7 per cent in the next fiscal and inflation is likely to ease further, RBI Governor Shaktikanta Das said on Wednesday. He also credited the government for structural reforms undertaken in recent years, saying they have boosted the medium and long-term growth prospects of the Indian economy. He said that amidst a challenging global macroeconomic environment, India presents a picture of growth and stability. Speaking at a CII session on 'High growth, low risk: The India story' here during the World Economic Forum Annual Meeting, Das said recent information on the global economic front has been reassuring with inflation falling, though growth remains low. "Chances of soft landing have improved and markets have reacted positively. However, geopolitical risks and climate risks remain matters of concern," he said. The RBI Governor said the real GDP growth in India is expected at 7.2 per cent this year.

Karnataka eyes Rs 1.4 trillion investment annually to boost state economy

Some of the big-ticket investment proposals received by the state include Foxconn, IBC, AMD, Qualcomm, Applied Materials, Marubeni and Tata Technologies

In boost to local economy, four new industrial estates to come up in J&K

The Jammu and Kashmir administration on Saturday approved the setting up of four new industrial estates in the Union Territory to boost investment and promote local employment, according to an official spokesperson. Approval for the setting up of new industrial estates at Budhi in Kathua district, Medicity Jammu in Jammu district and Chandgam and Lelhar in Pulwama district was given by the Administrative Council (AC) that met under the chairmanship of Lt Governor Manoj Sinha here, the spokesperson said. He said the new industrial estates will be developed on 1,379 kanals of land with an investment of Rs 136.65 crore. Apart from attracting investments, the projects will provide a boost to local employment and are expected to generate over 11,497 private sector jobs, he said. As per the spokesperson, new industrial estates will be comprehensively developed in terms of infrastructure, such as internal road works, availability of electricity, centralised water distribution system, ...

IPEF's clean, fair economy deals shouldn't restrict policy space: GTRI

With the IPEF members concluding the negotiations for fair and clean economy agreements, India should follow a cautious approach while finalising the text of these pacts as new commitments need not restrict its policy space or tax revenue generation abilities, a report said. Think tank Global Trade Research Initiative (GTRI) said in its report that after the conclusion of the negotiations, the IPEF member countries, including India will now do domestic consultations and legal reviews and prepare final texts of the proposed agreements. While doing that, the government needs to "focus on ensuring that new commitments do not overly restrict its policy space or tax revenue generation abilities," it said. This includes careful considerations in areas such as clean economy commitments, labour standards, and agricultural policies, it added. India, the US and 12 other members of the Indo-Pacific Economic Framework for Prosperity (IPEF) have this week concluded the negotiations on the clean

India's tourism challenge: Foreign arrivals remain below 2019 levels

CMIE data shows that in February 2020, just before the pandemic struck, 1.02 million foreign tourists had arrived in India. In August 2023, the number stood at 640,000

RBI's decision will support growth and check inflation, say experts

The Reserve Bank will announce the next bi-monthly monetary policy on December 8

Savings for growth

Low household savings can create risks

We see signs of buoyancy in the economy, says FM Nirmala Sitharaman

Inflation a permanent challenge; won't sit back, says FM Nirmala Sitharaman

Industry 4.0 key to achieve $1 trn economy target for Tamil Nadu: Minister

T R B Rajaa was speaking at a public-private discussion in the city, hosted by the Tamil Nadu government and the World Economic Forum

Govt looking to seek bids for ways to estimate size of digital economy

The IT ministry has floated a request for proposal seeking bids from agencies to provide an estimation of the size of the digital economy by reviewing the existing literature and methodologies

Global perspectives at mid-year

Challenges increase for the world's economic and socio-political prospects

Three out of five large economies show pick-up in growth, shows data

The UK and Germany were among those who have been in the midst of a slowdown

Behind the K-shaped growth

The worst kind of growth is when a small number of (very rich) people do very well while the vast majority languish

More than Rs 40,700 crore sanctioned under Stand-Up India Scheme in 7 years

The scheme aims to promote entrepreneurship at the grassroot level focusing on economic empowerment and job creation and has been extended up to the year 2025