Page 109 - Indian Economy

GST collection to car sales: May data paints healthy picture of economy

GST collection, car sales post robust numbers

India's FY24 GDP data: Spate of forecast hikes, but not all agree

Some say El Niño conditions may prove to be a headwind for the economy

RBI should continue with pause, change its stance to neutral: CII President

Says Indian economy likely to grow at 6.5-6.7% in FY24

Investment more than consumption leading India's growth: Economists

A surge in investments that offset sluggish consumption to boost India's growth in 2022-23 is expected to power the economy in the current financial year

Report on India's transformation under Modi indictment of lost decade: MoS

Morgan Stanley's report on how India under Prime Minister Narendra Modi has transformed and gained a position in the world order in less than a decade is the "best and sharpest indictment" of the Congress-led UPA's "lost decade between 2004 and 2014", Union Minister Rajeev Chandrasekhar has said. Speaking to PTI on Wednesday, Chandrasekhar said the report reminds Indians how the Congress-led UPA had left "a shattered economy" in 2014. Nine years later, India has emerged as one of the fastest-growing economies in the world with record FDI, he said. "This report that says how India has transformed in less than a decade under Prime Minister Narendra Modi is, in my opinion, the best and sharpest indictment of the UPA's lost decade between 2004 and 2014," the minister said. In the report, Morgan Stanley said significant skepticism about India, particularly with overseas investors, ignores the significant changes that have taken place in India, especially since 2014. Rejecting criticism

May PMI manufacturing comes at 58.7; hits 31-month high on strong demand

Demand conditions demonstrated remarkable strength, with factory orders rising at the fastest pace since January 2021

We're now aspiring to be world's 3rd largest economy: MoS Chandrasekhar

He further said that the report talks about the fact that India has undergone an unprecedented transformation in the last nine years and "we are today the fastest-growing economy in the world"

'Solid performance' to continue in FY24: CEA V Anantha Nageswaran

He said core and food inflation both came down, with a bumper harvest and healthy prospects for kharif season

India's GDP grows 6.1% in Q4, 7.2% in 2022-23; beats analysts' expectations

Manufacturing and construction sectors surprise on the upside

India's growth rate underscores resilience amid global challenges: PM Modi

Prime Minister Narendra Modi on Wednesday said the Indian economy's annual growth rate of 7.2 per cent underscores its resilience amidst global challenges. This robust performance along with overall optimism and compelling macro-economic indicators, exemplify the promising trajectory of our economy and the tenacity of our people, he tweeted. India's economy grew by 6.1 per cent in the January-March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent on account of better performance by agriculture, manufacturing, mining and construction sectors, official data showed. The growth propelled the Indian Economy to USD 3.3 trillion and set the stage for achieving the USD 5 trillion target in the next few years.

GDP data shows Indian economy moving at faster pace, says experts

GDP data released on Wednesday clearly indicates that the Indian economy is moving at a faster clip from the March quarters onwards, with sectors like manufacturing and agriculture pushing the overall economic activities, according to industry associations and experts. The economy grew by 6.1 per cent in the March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent. The growth has propelled the country's economy to USD 3.3 trillion, setting the stage for achieving the USD 5 trillion target in the next few years. In 2021-22, the economy grew by 9.1 per cent. "Looking into the fine print of the GDP data for 2022-23, a clear signal is available that the Indian economy has moved at a faster clip from the fourth quarter of FY23 in key sectors like manufacturing, construction and financial services," industry body Assocham's Secretary General Deepak Sood said. Going forward, he said the momentum is likely to continue given softening of raw material prices, including crude

India can look for another year of solid economic performance: CEA

Enthused by higher than expected GDP number in the fourth quarter of FY23, Chief Economic Adviser V Anantha Nageswaran on Wednesday said India can look for another year of solid economic performance. India's economy grew by 6.1 per cent in the January-March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent on account of better performance by agriculture, manufacturing, mining and construction sectors. Briefing media on the quarterly number, the CEA said the risk to the projected 6.5 per cent GDP number is evenly balanced and there is a good chance of this number may be exceeded in the current fiscal. "So, we are very pleased to have been able to present a story of sustained economic momentum combined with macroeconomic, financial and fiscal stability, and we look forward to another year of solid economic performance by India," he said. Last week, Reserve Bank Governor Shaktikanta Das said the growth for 2022-23 is expected to be more than the advance estimate of 7

GDP growth at 6.1% in Q4, 7.2% in full FY23; construction, agri surprise

For FY23, the Indian economy clocked a growth rate of 7.2%. In the previous financial year (FY22), India had seen 9.1% GDP growth

Govt's fiscal deficit narrows to 6.4% of GDP for FY23, meets target

The fiscal deficit for the last financial year narrowed to 6.4% from a year earlier. It also met the budget gap target, aided by buoyant tax receipts and some fiscal headroom from lower payments

India of 2023 is different from what it was in 2013: Morgan Stanley

India has witnessed a significant transformation in several areas since 2014 and will emerge as a key driver for Asian and global growth, says a Morgan Stanley research report on Wednesday. India of today, the report said, is different from what it was in 2013. "In a short span of 10 years, India has gained positions in the world order with significant positive consequences for the macro and market outlook," it said. India, according to the report, "will emerge as a key driver for Asia and global growth." On the skepticism about India, particularly with overseas investors, who say India has not delivered its potential -- despite it being the second-fastest growing economy and among the top-performing stock markets over the past 25 years -- and that equity valuations are too rich, it said, such a view ignores the significant changes that have taken place in India, especially since 2014. The report highlighted the 10 big changes, including supply-side policy reforms, formalisation o

Despite world-beating growth, India's lack of jobs threatens its young

Economists say more and more job-seekers, especially the young, are looking for low-paid casual work or falling back on unreliable self-employment, even though the broader Indian economy is growing

Indian economy likely gained pace in March qtr, data to be released today

During the March quarter, high frequency indicators showed that a rise in urban incomes had boosted sales of expensive cars, Apple mobile phones, and air travel

India's monsoon rains advance after stalling for the past 11 days

Nearly half of India's farmland, without any irrigation cover, depends on the annual June-September rains to grow a number of crops

India looking at low fertiliser subsidy burden, less urea import in FY24

Urea is the most widely consumed fertiliser in the country, which is followed by DAP

India Inc's dividend payout rises 26% to Rs 3.26 trillion in 2022-23

The dividend per share recommended by the top three corporations was more than double that of the previous year, with TCS again at the top of the list