Page 42 - Indian Economy

Stymied by fierce competition, manufacturing PMI slips to 56.5 in Nov

The rate of expansion is second-weakest in 11 months, the figure stood at 56.5 in January

India's potential GDP growth is in range of 6.5-7%, says CEA Nageswaran

India's potential GDP growth is in the range of 6.5-7 per cent and the country should be able to achieve it on the back of things that done already in the last 10 years, Chief Economic Advisor V Anantha Nageswaran said on Monday. The Economic Survey projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the preceding financial year. Addressing IVCA's GreenReturns Summit, he said, "India's potential GDP growth is in the range of 6.5-7 per cent and we should be able to achieve it on the back of things that we have done already in the last 10 yearswhether it is in terms of augmenting the physical infrastructure or achieving financial inclusion." Emphasising the investment areas, he said, "We all know about the issue of intermittency. The investment shouldn't focus on setting up solar power plants or wind energy plants as we need to take into consideration the increasing cost of recycling solar panel waste and wind turbine waste. That is an area

Govt aims to double Rajasthan's economy to Rs 30 trillion in five years: CM

Our government has set an ambitious target of doubling the state's economy from its current size of Rs 15 trillion to Rs 30 trillion in the next five years

India's falling economic growth seen adding to troubles for stock market

Indian economy expanded at the slowest pace in almost two years in the September quarter, data showed

Home prices in India to rise 6.5% in 2025 due to demand from wealthy: Poll

After rising 4.3 per cent last year, home prices in India - broadly referring to housing in major cities - were expected to rise 7.0 per cent this year, 6.5 per cent in 2025 and 7.5 per cent in 2026

Govt likely to double EPF monthly-wage cap to Rs 30,000 per month

Plans afoot to bring ceiling under ESIC on a par with EPF

Women-centric welfare schemes account for 0.5% of India's GDP in FY25

The credit for the largest allocation in the budget for the cash transfer to women goes to Maharashtra, which has earmarked $5.4 billion, accounting for 1.1 per cent of the state's GDP

GDP growth hits 7-quarter low of 5.4% in Q2 as manufacturing slows

Slowdown prompts calls for policy rate cuts in February

Core sector growth at 3-month high, but remains subdued at 3.1% in Oct

On the other hand, the output of crude oil (-4.8 per cent) and natural gas (-1.2 per cent) contracted during the month

New GDP and CPI series likely to kick in from February 2026: Mospi

Saurabh Garg further added that the ministry is also looking for ways to tap alternative data sources, like night lights data and e-commerce prices, for its surveys

India GDP growth hits 7-quarter low of 5.4% in Q2 amid manufacturing slump

The Q2FY25 growth in manufacturing slowed to 2.2 per cent, significantly below the 7 per cent recorded in Q1 and 14.3 per cent a year earlier

Govt mulls change in base year to 2022-23 from 2011-12 for GDP computation

The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said. This will be the first revision in over a decade. It was last done in 2011-12. Addressing an event here, Ministry of Statistics and Programme Implementation (MoSPI) Secretary Saurabh Garg further said the ministry will come up with monthly estimates of Periodic Labour Force Survey (PLFS) from January next year. "...next base year (GDP) will be 2022-23...will be implemented from February 2026," Garg said. The 26-member Advisory Committee on National Accounts Statistics (ACNAS), which was constituted under the Chairmanship of Biswanath Goldar, is expected to complete the exercise by early 2026. Regularly updating the base year is essential to ensure that indices accurately reflect changes in the economy's structure, such as shift in consumption pattern, sector weight and the incorporation of new ...

India's falling wages hit economy as consumers cut back on everything

Some of country's biggest companies from Maruti Suzuki to consumer bellwether Hindustan Unilever have posted weaker earnings recently, saying urban middle class spending has been languishing

EPFO considering removing 12% ceiling on employees' contribution to EPS

Additionally, the EPFO is also working to revamp its IT infrastructure for more seamless and efficient services to subscribers and easier withdrawals

India's sugar cooperatives defend labour practices amid allegations

Maharashtra and Gujarat are among the states where a significant portion of the sugar production is through cooperatives

Skill-based courses create job-ready grads, says Coursera report

Micro-credentials are short, certified courses of assessed learning that are additional to a formal educational degree

Doubling down on Maga: Trump-II Cabinet choices are less moderate

As far as the economy and trade are concerned, Mr Trump has signalled his protectionist intentions

India's cooperative sector may create 55-56 mn self-employment jobs by 2030

Maintaining growth rate at 5-6 per cent must to achieve goal, says report

Entry-level workforce across key sectors to earn better salaries: Report

Entry-level jobs, which were witnessing a slowdown, are getting a boost as freshers are offered competitive salaries across key sectors, led by Global Capability Centres (GCCs) and non-tech sectors, a report said on Thursday. The software development and engineering domain, which focuses on coding, designing, and maintaining software applications, is poised to offer lucrative opportunities, the report by TeamLease Digital said. It said the increasing demand for Artificial Intelligence/Machine Learning (AI/ML) skills in software development to enhance productivity, accuracy, and innovation is further driving this trend. As a result, entry-level positions in this domain are expected to see an average salary of Rs 9.37 lakh per annum in GCCs, followed by Rs 6.23 LPA in IT products and services, and Rs 6 LPA in non-tech sectors by the end of 2024-25, the report added. The report by TeamLease is Digital is based on primary data from 15,000 job roles across GCCs, IT services, and non-tec

Southern states urge 16th FC to address cess and surcharge impact

Finance Commissions use different yardsticks to recommend transfer of funds from the Centre to the states. These generally are income distance, population, area, etc