Page 4 - India Economic Growth

Inclusive development

India must reduce the gender gap

India remains world's fastest growing major economy globally: World Bank

The global economic report of the World Bank noted that in the South Asian region, India is set to sustain its robust growth momentum although it will moderate in coming years

India deserves faster, ecologically sustainable economic growth: Ramesh

India deserves faster economic growth that is socially just and ecologically sustainable, former environment minister and senior Congress leader Jairam Ramesh said on Wednesday. On World Environment Day, Ramesh called for enforcement of laws and regulations, without fear or favour and strengthening of institutions. In a post on X, Ramesh said, "June 5th is celebrated as World Environment Day to mark the opening of the first-ever UN Conference on the Human Environment in Stockholm in 1972." It was in this assembly that Indira Gandhi had made her historic speech on June 14, he said. "India deserves faster economic growth that is, at the same time, socially just and ecologically sustainable. This is not an impossible trinity. It is both doable and essential," Ramesh said. "It demands enforcement of laws and regulations, without fear or favour, strengthening of institutions, and a deep understanding of and actions based on a fundamental truth that our ancient heritage teaches us," he

'Omens good', India can grow 6.5-7% in the next decade: CEA Nageswaran

Inflation headed towards central bank's tolerance range; 'don't see scope for nasty upside surprises'

Interest rate cuts in India 'off the table' in FY24-25, says Morgan Stanley

The central bank seeks to ensure inflation aligns durably and sustainably to its 4 per cent target

Lamba's 2047 vision: Enhancing human capital, services-led growth

Says economic growth overstated at 8%, actually 6-6.5% and unsustainable without addressing K-shaped recovery

Subramanian's remark on 8% growth projection for India not ours, says IMF

The recent remarks of Krishnamurthy Subramanian, Executive Director at the International Monetary Fund, about India's growth figures does not represent the views of the IMF and were in his role as India's representative at the global body, the IMF has said. "The views conveyed ...by Mr. Subramanian were in his role as India's representative at the IMF," Julie Kozack, IMF spokesperson, told reporters here on Thursday. She was responding to a question on recent remarks by Subramanian, in which he projected a growth rate of 8 per cent for India, which is different from the last growth rate projections by the IMF. Subramanian, at a event in New Delhi on March 28, had said Indian economy could grow at 8 per cent till 2047, if the country redoubles the good policies that it has implemented over the last 10 years and accelerate reforms. "So, the basic idea is that with the kind of growth that India has registered in the last 10 years, if we can redouble the good policies that we have ...

India needs to become economically self-reliant in next 10 years: PM Modi

Prime Minister Narendra Modi on Monday said India needs to become economically self-reliant in the next 10 years so that the nation is not impacted much by global factors. Speaking on the 90th anniversary of the Reserve Bank of India (RBI), the Prime Minister also said a lot of work will be generated for everyone once the BJP-led NDA assumes office for the third term in June. "We have to increase India's economic self-reliance," he said. Modi said the banking sector has become profitable and credit growth has been increasing because of efforts taken by his government and the RBI in the last decade. He further said the gross NPAs of public sector banks, which was around 11.25 per cent in 2018, dropped to less than 3 per cent by September 2023. The "twin-balance sheet" problem is now a thing of the past, Modi said, adding that banks are now registering a credit growth of 15 per cent. The RBI has played a significant role in all these accomplishments, the Prime Minister added.

India making a mistake believing 'hype' about growth, says Raghuram Rajan

Rajan said it was "nonsense" to talk of that goal "if so many of your kids don't have a high school education" and drop-out rates are high

Sustaining rapid growth is challenging

India's goal of Viksit 2047 requires both luck and clearly outlined plans and policies

GDP or GVA: Take your pick for methodology to compute growth numbers

The raging debate may boil down to what you are looking for

Confident of India's growth at 6-8% for next 10 years, says Vaishnaw

Union Minister Ashwini Vaishnaw on Thursday expressed confidence that India will continue to demonstrate a 6-8 per cent consistent growth rate over the next 10 years as he invited global players to the country to tap domestic and global markets. India is open to the world, and to new ideas, Vaishnaw, the Minister of Railways, Communications and IT, said while speaking at Raisina Dialogue 2024. "The Indian economy is growing at a consistent clip at a very good rate. In the next 10 years, India will continue to grow at 6-8 per cent consistent growth rate...I can say that with a high level of confidence," Vaishnaw said. The building blocks for this are already in place and the results are visible, he said, outlining various growth initiatives taken by the government under Prime Minister Narendra Modi. The next five years will further lay the foundation for India to become a developed country by 2047, he said. Vaishnaw said that the focus over the next five years will be on the full .

India's economic growth may exceed 6% for rest of the decade: Goldman Sachs

India's demographics, strong government-led spending and healthy domestic demand makes it a "favorable destination for investments going forward," he said

RBI MPC meet begins: First meet post interim budget 2024; 5 things to know

The RBI MPC meeting will conclude on February 8, following which the RBI Governor Shaktikanta Das will announce the decision of the committee

Budget focused on economic resilience, creates opportunities for all

It carefully allocates public resources and commits to reduce the country's fiscal debt

Success of India grounded in pursuit of reforms over last years: IMF MD

The economic success of India is grounded in the pursuit of reforms over the last years, Managing Director of International Monetary Fund (IMF) Kristalina Georgieva said Thursday exuding confidence that it would achieve its goal of being a developed nation by 2047 by staying the course. "India has been a bright spot in the world economy, and it continues to be so. We are upgrading projections for Indian growth to 6.5 per cent in 2024. This comes on the back of fairly strong performance in 2023. The success of India is grounded in the pursuit of reforms over the last years," Georgieva told a group of reporters here. Georgieva said that one very significant advantages of India is the bold actions on the digital front with the digital public infrastructure, digital ID and making digital a strong comparative strength of India allowing small entrepreneurs to tap into markets in the way they were not able to do before. "We also see in India recognition that female participation in the ...

Disability sector can contribute $1 trn to economy by 2047, says expert

India's specially-abled population can actively contribute USD 1 trillion to the country's economy by 2047, according to a prominent Indian-American leader in the sector. Pranav Desai, the founder of the Voice of Specially Abled People, recently travelled to India and met top leaders of the ruling BJP in New Delhi including Finance Minister Nirmala Sitharaman and BJP president J P Nadda; the Gujarat Chief minister in Ahmedabad to present his vision document for the cause. He also travelled to Goa for a volunteer meeting. In an interview with PTI, Desai said that with proper strategy, policy and action, India's specially-abled population can actively contribute to the nation's economic growth, ultimately achieving a USD 1 trillion contribution to the disability sector by 2047 in Viksit Bharat. India can be a leader in this sector. My proposal was well received in New Delhi, Desai said, referring to his conversations with the top leadership in India. Desai said in his meeting with ..

Brookfield planning $1.2 billion of debt to buy India assets: Reports

Investment firm Brookfield is betting on growth in India, whose economy is outpacing that of other large countries and where smartphone usage is increasing rapidly

Peak power demand in India may cross 400 Gw by 2030, says R K Singh

Peak power demand in India is likely to cross 400 GW by 2030 and more generation capacity is being set up to meet the rising demand, Union Power Minister R K Singh has said. Electricity is the most important infrastructure which is a sine qua non for development, the minister said at a summit here on Thursday. One major distinguishing feature between a developing and a developed country is that in a developed country, there is no load shedding, the minister was quoted as saying in a release by the Power Ministry. "No country can develop if it does not have sufficient power. The power shortage in India has come down from around 4.5 per cent in 2014 to less than 1 per cent today. We have ensured universal electricity access, connecting 29 million homes in 19 months, which the International Energy Agency called the largest and fastest expansion of energy access in the history of the power sector, he added. Speaking about the rising power demand, the minister informed that in 2014, th

Davos 2024: Is India's economic growth showing Chinese characteristics?

The talk in Mumbai's financial circles is about a cheery prediction by Goldman Sachs Group Inc. that by 2027 100 million Indians will enjoy incomes of at least $10,000 a year, five times the national