Page 101 - Indian Economy

Upward revision: OECD raises India's FY24 GDP growth projection to 6.3%

Also revises inflation projection to 5.3% from 4.8%

India's growth rate and the sanctity of GDP deflator

The available data does not obviate the significance of the recent performance and resilience of the Indian economy, including in the context of the concomitant global trends

Jute mills foresee 30-50% production cuts on back of low procurement plan

The jute industry is concerned over a threat of a 30-50 per cent production cut in three months till November, compared to the same period last year, because of a low demand for packaging material for foodgrains from various states, a senior official said on Tuesday. The Indian Jute Mills Association (IJMA) has appealed to the Centre for a revision in the sixth (revised) supply plan issued by the Food & Public Distribution department. Foodgrain producers have to use jute as a packaging material to a certain extent. "In the current jute season from September to November 2023, the actual demand indent placement is lower by 30-40 per cent. In September alone, demand indents are expected to be lower than 2.5 lakh bales against planned 3.21 lakh bales due to slow order placing by Maharashtra," IJMA Chairman Raghav Gupta told PTI. For the months of October and November, the indents are likely to be about 1.48 lakh bales against over 2 lakh bales as per the August plans, he stated. "But,

Agriculture exports dip in first quarter of FY24 on bans and curbs

Data shows that between April and June 2023, agriculture product exports dropped by almost 15 per cent compared to the same period last year

India's incredible year

After the success of G20 and the moon mission, the country needs a few vital course corrections to pave the way to an advanced nation by 2047

Growth needs more electricity

Many states need a new electricity policy that can support high economic growth

Investment for growth

Encouraging private investment stays a challenge

Bharat Mandapam, Yashobhoomi to promote trade, employment: Piyush Goyal

The two world class convention and exhibition centres -- Bharat Mandapam at Pragati Maidan and Yashobhoomi at Dwarka -- will help promote trade, industry and employment, Commerce and Industry Minister Piyush Goyal said on Sunday. Prime Minister Narendra Modi dedicated the first phase of India International Convention and Expo Centre - 'Yashobhoomi' to the nation at Dwarka on Sunday, while the ITPO's Bharat Mandapam was inaugurated on July 26. India Trade Promotion Organization (ITPO) is an arm of the commerce ministry. "Bharat Mandapam and Yashobhoomi will promote trade, industry, export and employment. Yashobhoomi will promote MSME sector, farmers and artisans and provide new opportunities and markets for them," Goyal said. He added that steps to make laws simpler, supporting startups, and increasing trade will help to promote the country's economic growth. On PM Vishwakarma Yojana, Goyal said that the prime minister has recognised the hard work of artisans and the scheme will ho

In 9 years, 135 mn rose above extreme poverty line: Rajnath Singh

The Defence Minister said that he believes there can be no other religion than humanity and that the Central government is working for people irrespective of their caste and religion

CM Eknath Shinde reiterates his ambition for $1 trn Maharashtra economy

Shinde also hailed the success of the G20 summit headed by India and the soft landing of the Chandrayaan 3 mission on the South Pole

Skills to success: Securing the future of India's artisans

The Vishwakarma Scheme is special, not only because it is a means to social and economic upliftment, but it is also a gateway to Modi's vision for a new India

Global economy to weaken, economists confident of India growth: WEF study

Most economists expect the global economy to weaken in the coming year amid political and financial volatility, but a large majority of over 90 per cent are confident of moderate or strong growth in South Asia, notably India, a survey showed on Friday. At the same time, the outlook for China has dimmed following signs of deflationary pressures and fragility in the country's real estate market, the World Economic Forum's latest 'Chief Economists Outlook' report said. As the world grapples with political and financial volatility, almost six in 10 believe the global economic outlook will undermine progress towards meeting the UN Sustainable Development Goals (SDGs), with 74 per cent saying geopolitical tensions will have the same effect. As world leaders head to New York for the UN high-level week to discuss how to advance on the SDGs, the WEF report found that over 60 per cent of chief economists expect the global economy to weaken in the coming year amid uncertain domestic and ...

Exports decline 7% to $34.48 bn in Aug, trade deficit stands at $24.16 bn

During April-August this fiscal, exports contracted by 11.9 per cent to $172.95 billion

ES Ranganathan: India's Decision to Trade Carbon Credits Overseas Can Be a Ground-Breaking Solution for Achieving India's Climate Goals

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Top headlines: Sitharaman says no licence raj, sees buoyancy in economy

Business Standard brings you the top headlines at this hour

Is the economy surging or decelerating: Understanding India's growth rate

This controversy, like so many, has generated much more heat than light because the critics are not shining a light in the proper place

Pessimism about Chinese economy not overdone, upbeat about India: DBS chief

DBS Group Chief Executive Piyush Gupta said current widespread pessimism about China's economy was not "overdone" but he was upbeat about India

Aug retail inflation eases to 6.83%; IIP growth for July comes at 5.7%

Rural inflation was on the higher side at 7.02 per cent, compared to urban inflation at 6.59 per cent in August

India's August retail inflation eases to 6.83%, but still above RBI band

In the IIP, nine of the 23 manufacturing industries, such as apparel, wood, paper, chemicals and electronics, witnessed contraction in July

What more can India do to win over the Big Three sovereign rating agencies?

A high sovereign credit rating can raise a country's star among the global investor community; a low rating, indicating doubts over ability to repay debts, increases its financing costs