Page 18 - India Gdp Growth

Fiscal prudence is govt's top priority, says FM Nirmala Sitharaman

The Lok Sabha approved the additional gross spending of Rs 1.29 trillion, which includes net cash outgo of Rs 58,378 crore

India to be $5 trillion economy by end of 2025, Amit Shah exudes confidence

Union Home Minister Amit Shah on Saturday said India will become a USD 5 trillion economy by the end of 2025. Addressing the valedictory session of the Uttarakhand Global Investors Summit here, Shah said India has grown exponentially on every front over the past one decade due to the farsighted and visionary leadership of Prime Minister Narendra Modi. "The world is looking to India with hope today. Between 2014 to 2023 India has risen from its position as the 11th to the fifth (largest) economy in the world. "Never before did the country make so big a leap during 75 years of Independence," he said and attributed all this to Modi's visionary leadership and his capacity to translate his vision into a reality. Modi is leading the movement against climate change, he is trying to impart pace to the slowing GDP of the world through his Make in India program besides leading the international campaign for a terror-free world, he said. On G-20, he said the Delhi Declaration was India's big

Upward revision in RBI's GDP growth forecast very well placed: Ajay Seth

The upward revision in GDP growth forecast by the RBI is "very well placed" with high frequency indicators in October and November showing good momentum, Economic Affairs Secretary Ajay Seth said on Friday. "It is quite obvious that growth that India has achieved in the first half and then in two months (October, November), where the high frequency indicators are showing a good momentum... this upward revision is very well placed," he told reporters. The RBI in its bi-monthly policy review revised upwards growth projection for current fiscal to 7 per cent, from 6.5 per cent earlier. The Indian economy grew 7.8 per cent and 7.6 per cent in the June and September quarters of this financial year, taking the first half growth to 7.7 per cent.

RBI MPC: Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%

RBI MPC: Reserve Bank's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5% and also keeps the FY24 inflation forecast unchanged at 5.4%

Aiming beyond 7% growth

India is not the world's fastest-growing economy yet, but a revival of the animal spirits could propel it into that position

India set to become third-largest economy by 2030: S&P Global Ratings

S&P said that India will be the fastest-growing emerging market in the world, but its paramount test will be whether the country can become the next big global manufacturing hub

India to become $5 trillion economy early in Amrit Kaal: MoS Finance

India will become a USD 5 trillion economy early in the 'Amrit Kaal' on the path to achieve the goal of becoming an advanced economy by 2047, Minister of State for Finance Pankaj Chaudhary said on Monday. The International Monetary Fund (IMF) has projected India to become a USD 5 trillion economy with the third largest GDP in 2027-28. The USD 5 trillion milestone will be crossed with the help of a strong rupee which will result from macroeconomic stability, he said in a written reply in the Lok Sabha. "The government has set the goal of becoming an advanced economy by 2047. In the process, it will become a USD 5 trillion economy early in the Amrit Kaal," Chaudhary said. At the end of 2022-23, the Indian GDP stood at USD 3.7 trillion. In 1980-81, size of the Indian economy was USD 189 billion, which increased to USD 326 billion after a decade. In 2000-01, the size of the GDP rose to USD 476 billion. In 2010-11, India's GDP jumped to USD 1.71 trillion, and further increased to USD

India's GDP grew 7.6% in Jul-Sep quarter, higher than RBI MPC projection

At the Business Standard BFSI Summit last month, RBI Governor Shaktikanta Das said that the Q2 GDP figure is likely to surprise everyone on the upside

Sensex leaps 493 pts, Nifty ends at record closing high of 20,268

Closing Bell on Friday, December 1, 2023: The Nifty 50 index scaled a new peak of 20,291.55 in the intraday trade

Sensex soars nearly 1,400 points this week; Here's what led to the rally

November was a blockbuster month for the Nifty index, which rose 5.5 per cent, the most since July 2022

Q2 numbers an upside for FY24 GDP estimate: CEA V Anantha Nageswaran

The GDP numbers released on Thursday evening surpassed private estimates by a wide margin as manufacturing and construction activities expanded in double digits

India's GDP expected to grow by 6.5% in FY24, says finance ministry

Growth projections for Financial Year 2024 indicate that India will grow by 6.5 per cent. Growth prospects appear bright, though external factors pose a downside risk, the Finance Ministry said

Q2 GDP numbers show resilience and strength of Indian economy: PM Modi

Prime Minister Narendra Modi said that the Centre was committed to ensuring fast-paced growth to create more opportunities, rapid eradication of poverty and improving 'Ease Of Living'

Nifty 50's best month since July 2022 on IT, energy stocks, GDP data eyed

GDP growth is forecast to have moderated to 6.8% in the September-quarter from 7.8% in the previous quarter, but the country still remained the fastest growing major economy, according to Reuters

Second quarter GDP numbers likely to be good: Eco Affairs Secretary

Indian economy is showing momentum and the growth rate in the second quarter (July-September) is likely to be good, Economic Affairs Secretary Ajay Seth said on Wednesday. The GDP numbers for the second quarter are scheduled to be released on Thursday. The economy grew at 7.8 per cent in the first quarter (April-June) of the current financial year. "India economy showed good momentum in the second quarter. The second quarter numbers should be good", Seth told reporters on the sidelines of a national workshop on 'Leveraging private finance for urban infrastructure developments -- Learnings from G20 Infrastructure Working Group'. He further said that the fiscal deficit target of 5.9 per cent for the current financial year was feasible despite additional outgo towards food subsidy. "We are confident of meeting fiscal deficit target this year despite the government raising food subsidy for the next five years," Seth said. The Budget 2023-24 proposes to bring down the fiscal deficit to

'China slows, India grows': S&P pegs 7% GDP growth for India by 2026

India's GDP growth rate will rise to 7 per cent by 2026 compared to 4.6 per cent for China, S&P Global Ratings said on Tuesday. In a report titled 'China Slows India Grows', S&P said it expects Asia-Pacific's growth engine to shift from China to South and Southeast Asia. We project China's GDP growth to slow to 4.6 per cent in 2024 (2023: 5.4 per cent), edge up to 4.8 per cent in 2025, and return to 4.6 per cent in 2026. We see India reaching 7.0 per cent in 2026; Vietnam, 6.8 per cent (4.9 per cent); Philippines, 6.4 per cent (5.4 per cent); and Indonesia remaining steady at 5 per cent, S&P said. The US-based rating agency on Monday projected India's GDP to expand at 6.4 per cent in the current fiscal year and in the next. For 2025 it projected growth rate to rise to 6.9 per cent, followed by 7 per cent in 2026. S&P said with Asia-Pacific's central banks likely to keep interest rates high, the region's borrowers will see costlier debt servicing. Concurrently, a ...

Amid China outbreaks, India can position itself as manufacturing hub: GTRI

With China witnessing repeated outbreaks of respiratory ailments, India can position itself as a global manufacturing hub by enhancing its supply chain capabilities and investing in healthcare infrastructure, think tank GTRI said in a report. India can leverage its workforce and manufacturing potential in sectors like mobile phones and laptops, the Global Trade Research Initiative (GTRI) said. According to the report, China has experienced several outbreaks due to close human-animal contact, including COVID-19 (2019), H7N9 bird flu (2013), H5N6 bird flu (2014), and H10N3 bird flu (2021). While these outbreaks had varying impacts, COVID-19 notably escalated into a global pandemic. These outbreaks, especially COVID-19, have prompted a reevaluation of global supply chains and reliance on China for manufacturing. Businesses are considering alternatives like reshoring or diversifying supply sources to mitigate risks. "India is positioned to benefit from this trend by enhancing its supp

S&P Global, Morgan Stanley peg India's GDP growth at 6.4% in 2024

Those at Goldman Sachs, on the other hand, see the Indian economy growing a tad lower at 6.3 per cent in the year ahead.

S&P Global hikes India's FY24 GDP growth forecast by 40 bps to 6.4%

However, for FY25, the GDP growth projection has been slashed by 50 basis points (bps) to 6.4 per cent

Urban consumption likely to propel India's GDP growth in July-September

Besides, the index of industrial production (IIP) also grew at a robust pace of 7.34 per cent during the quarter, along with a robust 13.9 per cent growth in electricity demand