Page 59 - Indian Economy

PM Modi's Independence Day speech: A blueprint for growth through reforms

UCC to India's Olympics 2036 bid: PM Modi's 78th Independence Day speech focused on reforms to make India a developed nation by 2047

78th Independence Day: 5th largest economy needs growth to trickle down

India's population reached close to 1.5 billion in 2024, according to data from the United Nations, but the average annual growth rate has slowed down to below replacement level

Why state-run oil companies are spending billions on petchem capacity

Why state-run oil companies are spending billions on petchem capacity, amid oversupply and weak margins

Used cooking oil over ethanol: Govt's new route to 5% biodiesel blending

Oil-marketing companies may expand from 200 locations to source used cooking oil

India needs to do more to win over people of Bangladesh

India must do more, such as helping its economy revive, to win the minds of people in Bangladesh.

Registration tax waiver on hybrid cars to remain: UP govt to auto companies

The state govt has announced full waiver of registration fee for strong hybrids to boost use of eco-friendly cars

Statsguru: Rising food prices in India spoil the taste of platter

In June, food inflation was at its highest rate since December at 9.36 per cent, while the headline inflation was at 5.08 per cent

Cabinet Committee on Economic Affairs gives nod to eight railway projects

The Cabinet Committee on Economic Affairs on Friday gave its nod to eight new railway projects that the government said would provide connectivity, facilitate ease of travelling, reduce oil imports and lower carbon dioxide emissions. Briefing reporters on the decisions taken by the Cabinet, Railway Minister Ashwini Vaishnaw said the proposed projects will improve logistical efficiency by connecting the unconnected areas and enhancing transportation networks, resulting in streamlined supply chains and accelerated economic growth. The total estimated cost of the projects is Rs 24,657 crore, he said. These projects will save 767 crore kg of CO2, which is equivalent to planting 30 crore trees, Vaishnaw underlined.

GST reforms shaping India's economic future

One of the most noteworthy accomplishments of GST has been its role in simplifying and expediting company compliance

India's foreign exchange reserves hit new high of $675 billion: RBI data

India's reserve position with the IMF rose by $8 million to $4.62 billion in the previous week

RBI monetary policy review: Hawks rule over doves

Credit growth needs to be moderated, and the RBI has been taking steps to reduce banks' exposure to unsecured lending.

Knitting the tax net: Special CBDT unit to spot top 5K cases of unpaid tax

As on April 1 this year, the arrears demand has increased to Rs 43 trillion, from Rs 24 trillion on April 1, 2023

Rs 1.82 trillion GST from mobile phones 5 times what PLI allocated

ICEA, which provided the GST data, projects that GST collections from mobile devices between FY21 and FY26 are expected to reach Rs 3.09 trillion

India to become third largest economy in two years, says V-P Dhankhar

Asserting that India's rise is unstoppable, Vice President Jagdeep Dhankhar on Wednesday said the country will become the third largest economy in the world in two years. Addressing on the occasion of the 10th National Handloom Day, he expressed confidence that the optimal utilisation will take place to promote handlooms, the need of the hour, the need of the country, and the need of the planet, if we think in terms of climate change. The "Be Vocal for Local" clarion call given by the Prime Minister has economic freedom at this core, with handloom products being one of its key elements, said the Vice President. Strongly advocating economic nationalism, Dhankhar said it is fundamental to the country's "spinal economic growth" and will lead to three key impacts including foreign exchange savings, employment generation and boosting entrepreneurship. "I want everyone to respect national interest. Can we sacrifice economic nationalism merely for fiscal gain? I have no doubt; no fiscal .

ICICI Bank fostering compliance, strong risk culture: CEO Sandeep Bakhshi

He also added that the bank is seeing exciting opportunities arising from the Indian economy and its global linkages and is committed to supporting the economy in its transformative journey

GenAI adoption to add extra $675 bn to India's economy by 2038: Accenture

The research also revealed around 31% of working hours in India will be automated

Vision India 2047: Revolutionising the civil service for a new era

As India grapples with its unique set of issues and embarks on its journey to become a developed country, comprehensive reforms in the civil service are increasingly imperative

Indian economy to grow at 7-7.2% in current fiscal year: Deloitte

India's economy is expected to grow at 7-7.2 per cent in the current fiscal year driven by robust economic fundamentals and continuity in domestic policy reforms, Deloitte India said on Monday. The August update of Deloitte's India Economic Outlook said several initiatives in the Union Budget 2024-25 toward improving agriculture productivity, creating jobs for the youth, and in manufacturing and addressing the challenge of access to finance for micro, small, and medium enterprises (MSMEs), would help improve supply-side demand, curb inflation, and prop up consumer spending, especially in rural areas. Deloitte India Economist Rumki Majumdar said, India will witness robust growth in the second half after a period of uncertainty in the first six months of the year. "Key contributing factors include the continuity in domestic policy reforms, reduced uncertainties in the US post-elections, and more synchronous global growth within a low inflation regime. "Additionally, improved global .

Viksit Bharat needs a new paradigm: Reforming the thinking behind policy

The time has come to imagine the contours of a new paradigm of progress

Growth challenges

Global prospects have worsened in recent years