Page 9 - Economy

Fall of govt leaves France without clear path to cutting deficit: S&P

Michel Barnier was set to hand in his resignation and become the shortest serving prime minister in modern France after far-right and leftist lawmakers voted to topple his government

Sustainability measures in trade adding to economic uncertainties: Govt

FTAs need to take a holistic view of the commercial significance they hold for the country and emphasise the importance of looking at goods, services, and investment together

Govt mulls change in base year to 2022-23 from 2011-12 for GDP computation

The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said. This will be the first revision in over a decade. It was last done in 2011-12. Addressing an event here, Ministry of Statistics and Programme Implementation (MoSPI) Secretary Saurabh Garg further said the ministry will come up with monthly estimates of Periodic Labour Force Survey (PLFS) from January next year. "...next base year (GDP) will be 2022-23...will be implemented from February 2026," Garg said. The 26-member Advisory Committee on National Accounts Statistics (ACNAS), which was constituted under the Chairmanship of Biswanath Goldar, is expected to complete the exercise by early 2026. Regularly updating the base year is essential to ensure that indices accurately reflect changes in the economy's structure, such as shift in consumption pattern, sector weight and the incorporation of new ...

BS Samriddhi 2024: UP's priority sectors need Rs 5.73 trn lending in FY25

The growth marks 50% increase in credit flow year-on-year

Russia's labour shortage spreads as defence sector cuts down staff

Heavy recruitment by the armed forces and defence industries has drawn workers away from civilian enterprises, as has emigration, pushing unemployment to a record low of 2.3 per cent

Sluggish demand likely weighed on India's GDP growth in Sept quarter: Poll

Passenger vehicle sales recorded their first decline in 10 quarters and sales of two-wheelers experienced a sharp slowdown

India, UK to relaunch FTA talks in 2025, 'address remaining issues'

Announcement follows first meeting between Prime Minister Modi and his British counterpart during G-20 summit in Brazil

Fed Chair Jerome Powell says no need to hurry rate cuts with strong economy

US central bankers began lowering borrowing costs in September with an aggressive half-percentage-point cut, and then lowered the policy rate again by a quarter point last week

Pak faces IMF scrutiny as bailout programme review may shift to quarterly

A quarterly review would allow for continuous oversight of the approximately 40 conditions outlined in the $7 billion agreement

Andhra Pradesh govt presents Rs 2.9 trn budget; see all major allocations

The estimated revenue deficit stands at Rs 34,743 crore (2.12 per cent of the GSDP), while the fiscal deficit is estimated at Rs 68,743 crore (4.19 per cent of the GSDP)

BFSI Summit 2024 highlights: RBI's caution against unsecured lending is appropriate, says KV Kamath

Business Standard BFSI Summit highlights: Catch all the updates related to the BFSI summit here

Pakistan's national carrier stake sale now uncertain after low offer

Pakistan's government has failed to privatize the airline in previous attempts because of protests by labor unions and political parties

Guruji student credit card scheme fails to take off in Jharkhand

Under the scheme, a loan of up to Rs 15 lakh will be given at an interest rate of only 4 per cent with a condition to repay in 15 years

RBI's upbeat growth estimates create confusion, concern among economists

The central bank has stuck to its forecast that India's economy will expand 7.2 per cent in the year ending March 2025

What's driving complacency in global markets?

The world is beset with risks - political, geo-political, fiscal and monetary. But markets choose to look the other way, either being blissfully oblivious or wantonly negligent

Canada's economy won't take a hit from immigration curb, says minister

The Canadian government on Thursday set targets to lower admissions across all key immigrant groups starting in 2025

Core inflation in Japan's capital slips below BOJ's target in October

BOJ Governor Kazuo Ueda has said the bank will keep raising rates if inflation remains on track to stably hit 2 per cent as it projects

Scenarios for India's future: How planning can shape growth and inclusion

Scenario planning, having being successfully implemented in businesses, has tremendous potential for shaping India's future

Pakistan's FM Aurangzeb sees 'encouraging' reply from China debt talks

Pakistan is seeing a period of stability after securing a new $7 billion loan program from the IMF

Indian economy to grow 7-7.2% in FY25 on strong govt spending: Deloitte

The Indian economy could grow between 7-7.2 per cent in the current fiscal on strong government spending, and higher manufacturing investments, but a tempered global growth will impact the outlook for the next fiscal, Deloitte India said on Tuesday. In its 'India Economy Outlook for October 2024', Deloitte said the thriving manufacturing sector, stable oil prices, and potential US monetary easing post-elections may boost India's capital inflows, reduce production costs, and enhance long-term investments and job opportunities. The economy grew 6.7 per cent year-over-year in the April-to-June quarter of the current fiscal ending March 2025. Although this marks the slowest growth in five quarters, India ranks among the fastest-growing major economies globally. Deloitte India retains its annual GDP growth projection to be between 7 per cent and 7.2 per cent in FY 2024-2025 and between 6.5 per cent and 6.8 per cent the following year, it said in a statement. India's central bank RBI had