Page 70 - Indian Economy

More private investment will be focus for Patna Sahib constituency: Prasad

'In Bihar, there is strong support for Narendra Modi among the people. This indicates that we (NDA) are likely to secure all the 40 seats in Bihar'

Why India's voter turnout is low and improving it will be complicated

Its numbers trail those of several developing countries like Indonesia and Brazil

Manufacturing PMI slips to 58.8 in April from March's 16-year high

Manufacturers report robust demand from Indian and foreign clients, says HSBC final survey for the month

OECD raises India's FY25 GDP growth projection by 40 basis points to 6.6%

Meanwhile, the agency also noted that private consumption has been less vigorous, confirming the preliminary findings from the latest household consumption expenditure survey

India's manufacturing PMI dips marginally to 58.8 in April, shows data

Business optimism improved as firms expected demand to remain buoyant and higher production volumes in the coming 12 months

Gross GST collection in April shoots past Rs 2 trn to record high

Net GST collections rise by 17%

19 major commodities see export volume growth, but value declines

These commodities constitute over a fourth of the export value for April-February, commerce department data showed

India-UAE trade agreement cementing long-standing economic ties: UAE envoy

The comprehensive economic partnership agreement (CEPA) between India and the United Arab Emirates has emerged as a resounding success story, solidifying the long-standing economic ties between the two sides, UAE ambassador Abdulnasser Alshaali said on Wednesday. The envoy said there has been a remarkable growth in bilateral trade between the two countries after inking of the mega trade pact. "The UAE-India CEPA has emerged as a resounding success story, solidifying our nations' long-standing economic ties and ushering in a new era of prosperity," Alshaali said. "Over the past two years, we have witnessed remarkable growth in bilateral trade, a testament to the immense potential that exists when our complementary strengths are harnessed effectively," he said. The ambassador was speaking at an event in Mumbai that was hosted to mark the second anniversary of the coming into force of the CEPA. "The CEPA has not only opened new avenues for businesses to benefit from the bilateral ...

India needs 'hard reforms' to reach GDP growth of 7.5%, says HSBC

Prime Minister Narendra Modi - who is seeking a third term in elections that run until June 1 - has been campaigning on making India a developed nation by 2047

LS polls: Makhana traders demand policy refit for opportunity pop-up

Returning entrepreneurs hamstrung by inadequate policy measures

RBI proposes to bring NBFCs, co-op banks under operational risk norms

The 2005 guidance on the issue, which will be repealed, was aimed only at commercial banks

India's core sector growth slows to 5.2% in March from 7.1% in February

In March 2023, the core sector had recorded a growth of 4.2 per cent

Indian economy likely to grow 7% in FY24 amid benign global outlook: NCAER

The Indian economy could grow more than 7 per cent during the current fiscal amid a benign global outlook and expected above-normal monsoon, economic think tank NCAER has said. In its April 2024 issue of Monthly Economic Review (MER), NCAER said a range of high-frequency indicators reveal the resilience of the domestic economy with the Purchasing Managers' Index (PMI) for manufacturing at a 16-year high and UPI, the leading digital payments system, touching the highest volume since its inception in 2016. "Projected acceleration in both global growth and trade volumes, as well as a forecast of an above-normal monsoon, indicate that the Indian economy can again attain growth rates higher than 7 per cent during the current fiscal year," said NCAER Director General Poonam Gupta. According to NCAER, Goods and Services Tax (GST) collections reached Rs 1.8 lakh crore in March, the second best since its rollout in 2017, while UPI recorded 13.4 billion transactions (in volume) in March 2024,

UPA tenure lost decade, India's growth not arithmetic inevitability: FM

Calling the ten years of UPA tenure India's lost decade because of bad policies and corruption, Sitharaman said growth in GDP does not happen automatically and requires a lot of effort

India needs stable govt to achieve goal of 'Viksit Bharat' by 2047: FM

Finance Minister Nirmala Sitharaman on Monday underscored the need for a stable government to achieve the goal of becoming Viksit Bharat by 2047. "Our Prime Minister has set a target that by 2047, we need to reach the destination of a developed India," she said while addressing students of GITAM University here. "We have to make efforts, so the GDP grows, and the benefits reach to all. GDP growth doesn't happen automatically; efforts are required at micro and macro levels and on the ground," she said. The image of the country is also important, along with the ranking of your GDP, she said, adding that all these factors matter, along with per capita income calculations. "Unless the GDP is widened, we are not going to be able to meet the demands of the economy. We need investment, services to grow, educational institutions, and money for people to buy houses, start businesses," she added. She also criticised former Finance Minister P Chidambaram for questioning the developmental pac

Don't bring the successful down, elevate the rest: Rajan on wealth tax

Raghuram Rajan said having inclusive growth will increase the pace of growth, but taxing the rich is not the solution to achieve the same

Capex push by govt to propel GDP growth between 7.1-7.4% in FY25: NIPFP

However, the review by the NIPFP also listed compression in the government consumption expenditure and a subdued growth in private consumption as downward risks to the forecast

Deloitte India pegs FY25 GDP growth at 6.6%, raises FY24 prediction

The consultancy, however, added that inflation is expected to remain above the Reserve Bank of India's target level of 4 per cent over the forecast period due to strong economic activity

Deloitte projects India's FY25 GDP growth at 6.6% as exports rebound

Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said. Deloitte has revised India's economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent. The country's GDP growth is estimated to reach around 6.6 per cent in FY 2024-25 and 6.75 per cent in the year after, as markets learn to factor in geopolitic

Trade fragmentation

India must adjust to emerging trends