Page 31 - Indian Economy

Cong cites IMF report to slam govt; calls for boosting consumption, policy

Citing an IMF report to flag "tepid" private investment growth in India, the Congress on Thursday said the way out of the current "economic slump" needs measures to boost consumption, enhancing policy predictability, and rationalising trade policy. Congress general secretary in-charge communications Jairam Ramesh said the International Monetary Fund (IMF) has devoted an entire section to "Reigniting Private Investment in India" in its just-released annual India Article IV Consultation Report. "Somewhat unusually, it is a strong--if implicit- critique of the Modi government's policies and actions," he said in a statement. "The report underscores the tepid private investment growth in India, noting that 'private corporate investment has been sluggish especially compared with historical averages.' Notably, the situation is only getting worse, since 'nominal investment growth by private corporates appears to have decelerated further from 21 percent in 2022/23 to 13 percent in 2023/24',

Boost in domestic, int'l demand drives growth in services PMI in February

The India Services Purchasing Managers' Index rose to 59 in February from a 26-month low of 56.5 in January

Indian economy could gain $1 trillion from AI, says Nishikant Dubey

Nishikant Dubey said the panel at its meeting on Wednesday deliberated on the impact of Artificial Intelligence on banking, revenue and other related sectors

Govt nod to over ₹7,500 crore ropeway projects for Kedarnath, Hemkund Sahib

The Union Cabinet has approved two ropeway projects worth ₹7,500 crore-connecting Sonprayag to Kedarnath and Govindghat to Hemkund Sahib Ji-to provide faster, eco-friendly transport for pilgrims

Why India's tax office needs to win over taxpayers, and not tyrannise them

For investment and growth to take off, taxes need to be reliable, uniform and predictable

Govt committed to easing regulations, boosting export economy: Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the government remains steadfast in reducing regulatory burdens, besides enhancing trust-based governance and taking steps to make India a "seamless, export-friendly" economy. A robust manufacturing sector free from unnecessary regulatory bottlenecks will further attract both domestic and foreign investments, driving economic growth, positioning India as a trusted global player, Sitharaman said while addressing a post-budget webinar on 'MSMEs as engine of growth, manufacturing, exports, regulatory, investment and EoDB Reforms'. "Our government remains steadfast in reducing regulatory burdens and enhancing trust-based governance to improve the ease of doing business. Through the budget announcements, we are taking various steps towards making India a seamless, export-friendly economy, one where businesses are free to focus on innovation and expansion, and not paperwork and penalties," Sitharaman said. Addressing the webinar earlier

Modern framework needed to create growth-conducive investment climate: CEA

Chief Economic Advisor V Anantha Nageswaran on Tuesday said India should have a modern, responsive regulatory framework to create a growth-conducive investment climate, as FDI inflows get impacted due to pressure on global growth. Addressing the Post Budget Webinar 2025 titled 'Making India Investment Friendly, Nageswaran said India has emerged as the preferred investment destination as evidenced from gross FDI inflows. "We need to focus on improving regulatory clarity, easing business operation and making sure that plumbing of regulatory framework corresponds with broader vision (of reforms)," he said. Nageswaran said it is very clear that growth will come under pressure across the world considering the actions taken by various governments over the past one month. He said India has to do whatever it can domestically to sustain the "mood of constructive optimism" within the country. He said a robust investment climate is necessary, particularly when global FDI flows are likely to

How quality control orders are crippling India's trade competitiveness

India's exporters are already under dire threat from the US. That only makes it more important that they should not be attacked from the domestic side. QCOs must be eliminated immediately

CCI's draft regulations on cost in predatory pricing by dominant firms

CCI has so far acted as a fair and mature regulator, fulfilling its role under the Preamble of the Act

Any policy formulation must factor in uncertainty, says P K Mishra

The 1972-batch IAS officer spoke highly of the government's production-linked incentive (PLI) scheme but stressed the importance of its long-term evaluation

Indians must work hard to achieve a $30 trn economy by 2047: Amitabh Kant

Indians must work hard to achieve the ambitious target of making India a USD 30 trillion economy by 2047, former Niti Aayog CEO Amitabh Kant has said. Joining the ongoing debate on working hours, India's G20 Sherpa said Japan, South Korea and China have achieved economic success through a strong work ethic and suggested that India must cultivate a similar mindset to build a world-class economy. "I strongly believe in hard work. Indians must work hard, whether it's 80 hours or 90 hours a week. If your ambition is to move from a USD 4 trillion to a USD 30 trillion economy, you can't do it through entertainment or by following the views of some film stars," he said while speaking at Business Standard's Manthan summit. Currently, the size of the Indian economy is around USD 4 trillion. "We have made it fashionable to talk about not working hard. Why? India must work hard to deliver projects ahead of time, with world-class excellence, without time and cost overruns," he added. Respondi

Bharat is the fastest-growing global economy in last decade: VP Dhankhar

Vice President Jagdeep Dhankhar on Sunday said the country has seen exponential economic upsurge in the last decade and has become the fastest growing global economy during this period. The Vice President made the statement while delivering the 4th P Parameswaran Memorial Lecture organised here by the Bharatheeya Vichara Kendra. P Parameswaran was one of the senior-most 'pracharaks' of the Rashtriya Swayamsevak Sangh (RSS) and a former leader of the erstwhile Bharatiya Jana Sangh. Dhankhar said that in 1989 when he was an MP and in 1991 when he was a Union Minister, the "atmosphere did not inspire us". "Now our Bharat is brimming with positivity and possibility. It is full of hope and aspirations. All around and all pervasive, we can see an ecosystem of hope and possibility. In the last decade, Bharat has seen an exponential economic upsurge," he said. He further said that the country was the fifth largest global economy and was "on its way to becoming a USD 4 trillion economy ver

India's GDP growth picks up to 6.2% in Q3; FY25 projection now 6.5%

Data released by the Ministry of Statistics and Programme Implementation (Mospi) on Friday showed the economy is expected to grow at 6.5 per cent in FY25, marginally higher than the 6.4 per cent proje

BS Manthan: Bilateralism now topping the agenda, says FM Sitharaman

The global churn and India's reset played out on day one of BS thought summit, with the who's who from government, economy, banking, defence coming together

Key infra sectors growth picks up to 4.6% in January, shows govt data

The key infrastructure sectors' output had expanded by 4.8 per cent in December 2024

Fiscal deficit touches 74.5% of full year target at end-Jan, shows CGA data

In actual terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 11,69,542 crore during the April-January 2024-25 period

India needs 7.8% growth to become high income country, says World Bank

The report comes just hours before India is set to release gross domestic product figures for the last quarter

India's economic recovery likely clouded by global trade risks ahead

The Indian government has already lowered its GDP growth estimate for the current fiscal year through March to 6.4 per cent

Q3 GDP growth seen stronger on improved rural demand, govt spending

In the three months to December, gross domestic product likely expanded by 6.3% from a year earlier, according to a Reuters' poll

BS Manthan: A thought-provoking day-1 of insights on economy, policies

Experts discuss India's growth, global trade shifts, climate action, EVs, defence, and more