Page 6 - Economy

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

State rankings 2025: A closer look at assumptions and indicators

The report ranks performance of states in terms of 7 pillars - namely, economic, fiscal, financial, infrastructural, social, governance, and environment - and works out composite index to rank states

India's coal production increases 3.63% to 81.57 MT in April

Both coal production and dispatch witnessed steady growth in April 2025, compared to the same period last year, the coal ministry has said

Net $1.6 billion sold in spot FX market in February: RBI bulletin

The RBI said it purchased $45.03 billion and sold $46.6 billion. In January, the central bank had sold a net of $11.1 billion in the spot market

UK inflation slows to 2.6% in March, lowest level in three months

Falling fuel prices and unchanged food costs helped bring down the inflation rate but the price of clothes rose strongly after a surprise fall in February

Trend growth returns, but reforms key to sustain India's 6.5% GDP pace

The NSO's estimate marks a return to the pre-pandemic decadal trend growth rate, following an above-trend average growth of 8.8 per cent between financial years (FY) 2021-22 and 2023-24

Tamil Nadu Round Table 2025

Watch policymakers and industry experts discuss Tamil Nadu’s path to a knowledge-driven economy, covering AI, Global Capability Centers (GCCs), advanced manufacturing, and key policy reforms.

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