Page 3 - Economy

Policy choices that deepened the slowdown demand urgent course correction

What's troubling is that this slowdown is unfolding despite a broadly stable global economy-no financial crisis, no commodity shock

Trump tariffs unlikely to impact rising Indian textile exports, say experts

In terms of tariffs on textiles and clothing, while India imposes a 10.4 per cent tariff on US imports, the tariff for Indian importers in the US is 9 per cent

PM aims for India to be 3rd largest economy, developed by 2047: Amit Shah

He highlighted the vital role of the dairy sector in accelerating the country's development, ensuring nutrition, and uplifting rural areas, landless farmers

India's GDP growth picks up to 6.2% in Q3; FY25 projection now 6.5%

Data released by the Ministry of Statistics and Programme Implementation (Mospi) on Friday showed the economy is expected to grow at 6.5 per cent in FY25, marginally higher than the 6.4 per cent proje

EPFO keeps interest rate at 8.25% for FY25, benefiting 300 million members

This comes against the backdrop of ebbing stock markets and bond yields in the current financial year

Bihar's economy has increased to Rs 8.54 trn in 2023-24: Dy CM Choudhary

Bihar Deputy Chief Minister Samrat Choudhary on Friday said the size of the state's economy at current prices has increased 3.5 times, from Rs 2.47 lakh crore in 2011-12 to Rs 8.54 lakh crore in 2023-24. Choudhary who holds the Finance portfolio tabled the Bihar Economic Survey report for 2024-25 in the state assembly on the opening day of the budget session on Friday. "Bihar has witnessed significant economic growth over the last two decades, resulting in notable improvements in several socio-economic indicators. The size of Bihar's economy at current prices has increased 3.5 times, rising from Rs 2.47 lakh crore in 2011-12 to Rs 8.54 lakh crore in 2023-24", he said. "According to the latest available estimates, the Gross State Domestic Product (GSDP) of Bihar for the year 2023-24 is estimated to be Rs 8,54,429 crore at current prices and Rs 4,64,540 crore at constant (2011-12) prices. In the fiscal year 2023-24, tax revenue amounted to Rs 1,61,965 crore, making it the most ...

Q3 GDP growth seen stronger on improved rural demand, govt spending

In the three months to December, gross domestic product likely expanded by 6.3% from a year earlier, according to a Reuters' poll

India's private consumption almost doubles to $2.1 trn in 2024: Report

India's private consumption has almost doubled to USD 2.1 trillion in 2024 from USD 1 trillion in 2013, growing at 7.2 per cent CAGR, faster than the US, China and Germany, according to a report. On course to become the world's third-largest consumer market by 2026, India is well-positioned to reap the benefits of a demographic dividend, said the report titled 'India's changing discretionary spending: Key insights for brands' launched by Deloitte India with Retailers Association of India on Thursday. "Surpassing Germany, India's private consumption has almost doubled to USD 2.1 trillion in 2024 from USD 1 trillion in 2013, and during 2013-23, India's consumption grew at 7.2 per cent CAGR, faster than China, the US and Germany," it said. By 2030, the report said, "The number of Indians earning over USD 10,000 annually is expected to nearly triple, increasing from 60 million in 2024 to 165 million. This reflects the significant growth of the country's middle class and a fundamental ..

Manthan Day 1 Highlights: Against all odds, India is moving ahead with growth, says FM Sitharaman

Business Standard Manthan updates: Catch all the latest developments from the summit here

MP has potential for 18-fold growth to be $2.1 trn economy by 2047-48: CII

Madhya Pradesh can potentially increase the size of its economy by 18 times to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, according to a report by industry body CII. In order to realise its potential, the state needs to focus on boosting the manufacturing industry and industrial expansion must take center stage, CII said. According to the report 'Envisioning Madhya Pradesh Economy@2047', the gross state domestic product (GSDP) of the state can rise to USD 2.1 trillion (Rs 248.6 lakh crore) by 2047-48, growing at a CAGR of 8.6 per cent, from the current USD 164.7 billion (Rs 13.6 lakh crore). With a proactive state government dedicated to boosting investment and driving growth, Madhya Pradesh is well-placed to increase its contribution to India's GDP from the current 4.6 per cent to 6 per cent by 2047-48, CII Director General Chandrajit Banerjee said. As per the report, for Madhya Pradesh to achieve its ambitious growth targets, manufacturing and industrial expansion must tak

Discontented Germany votes in election with economy, migration in focus

German voters are choosing a new government in an election on Sunday dominated by worries about the years-long stagnation of Europe's biggest economy, pressure to curb migration and growing uncertainty over the future of Ukraine and Europe's alliance with the United States. The centre-right opposition is favoured to win, while polls point to the strongest result for a far-right party since World War II. Germany is the most populous country in the 27-nation European Union and a leading member of NATO. It has been Ukraine's biggest second-weapons supplier, after the US. It will be central to shaping the continent's response to the challenges of the coming years, including the Trump administration's confrontational foreign and trade policy. What are Germans voting for? More than 59 million people in the nation of 84 million are eligible to elect the 630 members of the lower house of parliament, the Bundestag, who will take their seats under the glass dome of Berlin's landmark Reichst

US reciprocal tariffs to have limited impact on Indian economy: S&P

S&P Global Ratings on Wednesday said the impact of the US reciprocal tariff will be limited on India as the economy is domestically oriented with less reliance on exports. YeeFarn Phua, Director, Sovereigns and International Public Finance Ratings, Asia-Pacific S&P Global also said India will clock a 6.7-6.8 per cent GDP growth over the next two years. He said the fiscal 2025-26 budget will boost growth for the next few years, largely by domestic demand through tax cuts for households and GDP growth is now normalising to a more "sustainable level". "The government remains very much focused on investment-led growth and also on agriculture sector reforms. However, we do think that economic expansion in India is startling to normalise towards a more sustainable level after real growth had averaged 8.3 per cent over the last three years post-pandemic. "Right now, we anticipate that consumer spending and public investments will maintain real GDP growth at around 6.7 to 6.8 per ...

Sri Lanka expects economic growth at 5%, to repay all debt: Dissanayake

Dissanayake said that he expects the economy to grow at 5 per cent in the medium term and plans to maintain low inflation, while also taking steps to keep exchange rates stable

Japan's economy grows more than expected on strong exports, consumption

Japan's economy grew at a better-than-expected annual rate of 2.8 per cent in October-December, underlined by steady exports and moderate consumption. On a quarter-to-quarter basis, the world's fourth largest economy grew 0.7 per cent for its third straight quarter of growth, the Cabinet Office reported on Monday in its preliminary data. For 2024, the Japanese economy eked out 0.1 per cent growth in seasonally adjusted real GDP, or gross domestic product, which measures the value of a nation's product and service. That's the fourth straight year of expansion. Private consumption grew at an annual rate of 0.5 per cent during the three months through December, holding up while losing momentum. Exports jumped 4.3 per cent, and capital investment increased 0.5 per cent. The positive data sent Japan's benchmark Nikkei 225 higher, as well as other Asian markets. Some analysts think the anticipation of President Donald Trump's tariffs may have lifted trade. Unlike the US and some other

India-US TRUST, IMEC to drive economic, infra cooperation: Experts

India-US TRUST (Transforming Relationship Utilizing Strategic Technology) will pave the way for economic and technological cooperation between the two countries, while focus on the IMEC framework will deepen collaboration in infrastructure and economic corridors, according to industry experts. Prime Minister Narendra Modi and US President Donald Trump have agreed on the TRUST initiative, to emphasise on creating strong supply chains of critical minerals, advanced materials, and pharmaceuticals. As per a joint statement issued after the Trump-Modi meeting in Washington, both countries have decided to launch a recovery and processing initiative for strategic minerals such as lithium and rare earth. The two sides will also work together on economic corridors and connectivity infrastructure under the IMEC (India-Middle East-Europe Economic Corridor) and I2U2 frameworks. "TRUST initiative on critical minerals and advanced materials marks a significant step toward economic and technologi

PwC rejigs key leadership roles to strengthen India presence from April

PwC said that it has achieved its ambitious milestone of $1 billion in topline revenue well ahead of schedule

Foolish to expect pvt sector to take care of everything: Economist Duflo

France has a lot of good presses that specialise in publishing stories for children. I grew up reading books as well as weekly and monthly magazines, Esther Duflo said

Pakistan sees economy on long-term recovery path under new IMF programme

The comments came from Pak PM Sharif in his meeting with Kristalina Georgieva on the sidelines of the World Government Summit (WGS) 2025 in Dubai

India Energy Week: Govt opens biggest oil & gas bidding round under OALP

19 large offshore blocks part of 25 on offer; India is keen to attract foreign bids this time

Pakistan requests China to reschedule $3.4 billion debt for two years

Pakistan has requested China to reschedule USD 3.4 billion debt for two years to bridge a foreign funding gap identified by the International Monetary Fund, according to a media report on Saturday. This is the second time in the past five months that Islamabad has requested Beijing to reschedule loans provided by its Exim bank. Deputy Prime Minister Ishaq Dar made the formal request during this week's visit to Beijing, The Express Tribune newspaper reported, quoting government sources. Pakistan requested the Export-Import (Exim) Bank of China to consider rearrangement of its loans due from October 2024 to September 2027, said the government officials. A two-year extension was sought to repay the official and guaranteed debt obtained from the Exim Bank. Pakistan would keep making interest payments. Sources said that Pakistan was required to identify financing sources to fill the external financing gap of USD 5 billion for the three-year programme period. They added the Chinese ...