Page 34 - India Economy

Global economic turmoil not to impact India's recovery, says Moody's

India's economic recovery is unlikely to be derailed by rising challenges to the global economy, higher inflation and tightening financial conditions, Moody's Investors Service on Tuesday said, affirming a stable outlook for the country's rating. Moody's saw the Indian economy expanding by 7.6 per cent in the current fiscal compared to 8.7 per cent growth in the last financial year that ended on March 31. For 2023-24, it estimates a 6.3 per cent GDP growth. It rates India at Baa3, the lowest investment grade rating. In October last year, it revised upwards the rating outlook to stable from negative. "The credit profile of India reflects key strengths, including its large and diversified economy with high growth potential, a relatively strong external position, and a stable domestic financing base for government debt," Moody's said in a note. Principal credit challenges include low per capita income, high general government debt, low debt affordability and limited government ...

Surpassing UK as 5th largest economy is a pleasure to behold, says PM Modi

Addressing the gathering, the Prime Minister paid homage to former President of India Sarvepalli Radhakrishnan, whose birthday is commemorated as Teachers Day across the country

Sheikh Hasina likely to seek India's economic support during 4-day visit

Bangladesh's growth story runs into global economic instability, expensive fuel and slowdown in textile orders

Surplus parked with RBI falls below Rs 1 trillion as liquidity shrinks

RBI's forex moves, strong credit off-take lead to faster liquidity decline

Base effect to lift India's GDP growth to double-digits in Apr-Jun: Poll

Growth would be the fastest in a year, but slightly weaker than the Reserve Bank of India's forecast of 16.2%. The data will be released at 1200 GMT on Aug. 31

PM Modi should work with states to strengthen economy: Rajasthan CM Gehlot

Rajasthan Chief Minister Ashok Gehlot on Saturday said Prime Minister Narendra Modi should take states into confidence and work with them to strengthen the economy. He also reminded the Centre of its "duty" to give grants to the states and support them. "We should be worried about the situation the country is moving towards. I am seeing such an atmosphere for the first time. It is time for Modi to take all states along and work towards strengthening the economy," he said. Gehlot was speaking after inaugurating the Rajiv Gandhi Centre of Advance Technology (R-CAT) here. The chief minister said his government had been making optimum use of information technology for good governance. During Covid, he said, he had held about 500 video conferences with officials at various levels to review the situation. R-CAT will conduct training programmes on advanced and emerging IT technologies with duration ranging from one week to six months for graduates like BE/B.Tech., BCA, MCA, MBA, and M.Sc

Slowing economy affected profits, wages but investments upbeat in FY20

Annual Survey of Industries shows that firms' GVA shrank 3.4%, while GFCF touched 8-year high

Most economists see GDP growing at slower pace in Q1 than MPC projection

At the MPC's estimate of 16.2%, the economy would have grown 6.1% over the corresponding quarter of 2019-20

Teenagers' share in India's gig sector grows 8 times in last 4 yrs: Report

Around 40% of the gig workers now come from the age group of 16 to 23, says a study by Taskmo, an on-demand staffing platform

Top Headlines: GST compensation to states; battle for 5G networks, and more

The Centre may release about Rs 35,000 crore to states as GST arrears by September-end, Business Standard has learnt

India @75 should shun protectionism and get more competitive

The task ahead is to discard the protectionist trade and tariff policies that have failed us and adopt the liberal policies that have helped us

Cloud tech helping us to tap global creator economy: Kuku FM Co-founder

As content consumption goes through a churning in India, with the creator economy surpassing all metrics, Kuku FM which is a podcast platform is re-inventing the traditional radio.

Despite fiscal steps, wheat, pulses and LPG see high inflation in July

The government announced a number of fiscal steps after overall inflation refused to come below six per cent since January this year.

India's bioeconomy likely to touch $300 billion by 2030, says report

India's bioeconomy is likely to touch $150 billion by 2025 and over $300 billion by 2030, a report said

Chidambaram slams Centre over handling of economy for falling rupee

Former finance minister P Chidambaram has launched a scathing attack on the central govt, blaming its handling of a host of issues including falling rupee, employment generation and LPG price rise

Global recession fears may ease inflationary pressures: Govt report

Review released by ministry also said that global headwinds would continue to pose downside risk to growth as crude oil and edible oils, remain major imported components

Low growth and high inflation expected this year: N Chandrasekaran

The World Bank last month cut India's economic growth forecast for the current fiscal to 7.5 per cent owing to rising inflation, supply chain disruptions and geopolitical tensions

Rupee at record low as US dollar surges globally, domestic markets fall

Fears of a global recession weigh on the unit despite RBI measures to boost dollar inflow

Govts should mobilise more domestic resources via tax reforms: Albert Park

In an Q&A, ADB Chief Economist Albert Park tells that countries in region may not be able to carry on with large expenditures and social transfers meant for pandemic, given rising debt burden

PSBs back on growth path as India's economic recovery gains traction

While the impetus to double-digit credit growth was from wholesale lending, retail credit growth continued to be robust