Page 61 - Indian Economy

P2P industry: When will RBI walk the talk?

The regulator has issued show cause notices to a few P2P platforms for certain practices. Let's see how they defend themselves and how the regulator reacts

Need to become a $30 trn economy with $18,000 per capita income: NITI paper

India needs to strive to be a USD 30 trillion economy with a per capita income of USD 18,000 per annum by 2047, the approach paper for vision for Vikshit Bharat in 2047 has said. NITI Aayog in a paper titled 'Vision for Viksit Bharat @ 2047:An Approach Paper' said India needs to avoid the Middle-Income trap and carefully work towards breaking out of it. "As for the economy, to become a developed nation, we need to strive to be a USD 30 trillion economy by 2047 with a per capita income of USD 18,000 per annum. "The GDP would have to grow nine times from today's USD 3.36 trillion and the per capita income would need to rise 8 times from today's USD 2,392 per annum," it said. The paper also noted that progressing from a middle-income to a high-income level requires sustained growth in the range of 7-10 per cent for 20-30 years and very few countries have managed to do this. Defining the concept of Vikshit Bharat, the paper said it is a Bharat which will have all the attributes of a ..

PM Modi urges states to attract FDI, suggests 'investor-friendly charter'

Investor friendly charter, zero poverty and demographic management plans highlights of NITI Aayog meet

NITI Aayog meet: Chhattisgarh CM Sai pitches for skill-based education, AI

Chhattisgarh Chief Minister Vishnu Deo Sai on Saturday pitched for promoting skill-based education, natural dispensaries and artificial intelligence in his state, as he committed his state's full support in achieving the goal of making India a developed country by 2047. Speaking here at the Governing Council meeting of the Niti Aayog, chaired by Prime Minister Narendra Modi, Sai listed various priorities and efforts being made for Chhattisgarh's development with an emphasis on education, human resource development, health and technological advancement. He said Chhattisgarh will play a pivotal role in "Developed India by 2047". At present, the state's GSDP (Gross State Domestic Product) is Rs 5.05 lakh crore, which is targeted to be increased to Rs 10 lakh crore in the next five years, and the state has started work on possibilities of improvements and achieving goals in various fields, Sai said. Emphasising the role of youngsters in the development of the state, the chief minister

RBI's draft LCR norms: Banks likely to see 4-11% impact on earnings

According to analysts, banks with an LCR exceeding 130 per cent are relatively comfortable, though not many lenders boast such robust ratios

Rupee falls to new low on oil importers' dollar demand, weak risk appetite

The rupee remained under pressure during the week due to persistent outflows from domestic equities, said dealers

In India's goal of financial inclusion, banks make 'remarkable progress'

Number of Indians with an account in a formal financial institution increased to 77% in 2021

Strengthening IBC: Extend prepack to big companies, says industry

Both the finance minister and the economic survey have highlighted the success of IBC

The China challenge

From a military standpoint, while the regional rivalry is not insignificant, it is the territorial contestation that is more important at the moment

FM has managed to lay down a growth-oriented Budget: Harsh Pati Singhania

Budget proposal to promote investments, create jobs, say industry players

India's financial system looks stronger than in the past: RBI dy guv Rao

Indian financial system looks stronger than in the past and the country's economy is an outlier even as strong headwinds globally, Reserve Bank of India Deputy Governor M Rajeshwar Rao said. Delivering the J P Morgan India Leadership Series Lecture here, the RBI official also highlighted that India has achieved the highest climate change performance index (CCPI) score among G20 members in 2024, which reflects the country's unwavering commitment to this cause. "This also shows that by aligning economic policies with climate action, we can spur green investments, enhance energy efficiency, and foster sustainable development across the sectors," he said in the lecture on 'Climate Change -- The Emerging Challenge'. Rao said the global financial system is facing strong headwinds from various quarters, including high levels of public debt, stretched asset valuations, economic and financial fragmentation, geopolitical tensions, and risks arising from increasing cyber threats. "Amidst thes

Gains in new orders, biz activity surge pushes flash PMI to 61.4 in July

According to the survey carried out by the global banker, the headline flash composite Purchasing Managers' Index (PMI) figure rose to 61.4 in July, compared to 60.9 in June

Shouldn't have fiscal incentive or disincentive towards savings: DEA secy

We are moving in the direction of fiscal prudence as well as finding adequate money for priority expenditure, he says

The worrying trend in household savings

With the share of physical assets rising, the responsibility to free up resources to fund corporate capex shifts to the government

India's economic activity expands in July, services PMI rises to 61.1

The indexes are based on preliminary survey results and are a signal of business confidence in the economy

Union Budget 2024-25: Propelling India's evolution into 'Viksit Bharat'

With the objective of ease of doing business and in line with recent Goods and Services Tax (GST) council recommendations, various proposals have been introduced under GST

Union Budget 2024: Need a long-term vision

The Budget could have outlined a three-tier Customs duty structure with minimum rate on raw materials, a slightly higher rate on intermediates, and the highest rate on finished products

Budget 2024: Unemployment rate among females is higher than males

More vocational and technical training is available but over two-third of the working age population has received none

Budget 2024-25: Credit support for MSMEs to help them compete globally

The budget also announced a new mechanism for facilitating the continuation of bank credit to MSMEs during their stress period

India must strengthen manufacturing sector to create jobs: Fitch analyst

During Tuesday's annual budget, India's government announced plans to spend $24 billion to create jobs over the next five years and $32 billion on rural development this year alone