Page 70 - Indian Economy

India to grow 7% in FY25, fastest among major economies: RBI annual report

Indian economy is projected to grow at 7 per cent -- the fastest among major economies across the world -- in the current fiscal year, underpinned by a sustained strengthening of macroeconomic fundamentals, the Reserve Bank of India (RBI) said in its latest annual report on Thursday. While the central bank expected headline inflation to moderate further, it flagged risks to food inflation saying that it remains vulnerable to supply-side shocks. The RBI's balance sheet size surged 11.08 per cent to Rs 70.48 lakh crore (about USD 845 billion) as of March 31, 2024. This was nearly 2.5 times that of Pakistan's entire GDP of close to USD 340 billion. The Indian economy, it said, expanded at a robust pace in 2023-24 (April 2023 to March 2024 financial year), with real GDP growth accelerating to 7.6 per cent from 7.0 per cent in the previous year -- the third consecutive year of 7 per cent or above growth pace. The economy showed resilience in FY24 (2023-24 fiscal) despite persistent ...

S&P Global will likely raise India's rating within 2 years, says Citi

S&P raised India's sovereign rating outlook to 'positive' from 'stable' on Wednesday, citing the country's strong economic fundamentals. It, however, kept the rating itself at 'BBB-'

S&P raises India outlook to 'positive' ahead of Lok Sabha poll results

"We forecast India's real GDP growth at 6.8 per cent this year, which compares favourably with emerging market peers amid a broad global slowdown," S&P Global Ratings said

Gas stations in full throttle as India's power demand touches new record

India's gas refiners bet on rise in LNG demand from power generation sector

Battleground 2024: Ludhiana's textile industry wants govt to stitch up FTAs

The past eight years have been a rollercoaster ride for this labour-intensive industry

Govt, experts talk SOPs for contemporary issues under modern FTAs

There were also suggestions that FTAs can be used as tools to enhance supply chain resilience, ensuring stability and sustainability in trade relationships

GST Council's fitment committee likely to consider dropping 12% slab

Revamped GST rates may be implemented this financial year

FTA benefits elude India

The high import and low export trend is likely to continue with free-trade agreements under negotiation

The port company meant to deliver India's strategic objectives abroad

India Ports Global Limited will be operating ports in Iran, Myanmar, and Bangladesh; it will quickly need an equity base

India's GDP growth in Q4 likely slowed to at least a four-quarter low

NSO to release Q4 growth numbers, FY24 provisional estimates on Friday

Limited interest, low recoveries: Prepack insolvency scheme in slow lane

In 2021 when the country was reeling from the Covid-19 pandemic, the government promulgated an ordinance and amended the insolvency law to help MSMEs avoid bankruptcy

Critical, strategic mineral auctions hit a roadblock: Why the delay?

A Ministry of Mines order dated May 21 announced that the deadline for the 25 critical mineral blocks listed in the second and third rounds has been postponed from June 11 and June 28 to July 18

Statsguru: Rising summer temperatures push power demand in India

Increased use of cooling equipment during heatwaves is said to be a key reason, although only around a quarter of households own air conditioners or air coolers in India

Indian startup ecosystem is mature, set to bolster economy: AWS' Raghavan

The Indian startup ecosystem is mature, with multiple tailwinds that are poised to escalate India to become the third largest economy in the world, said AWS' Kumara Raghavan. In a conversation with PTI, Raghavan, Head, Startups, Amazon Web Services (AWS) India, and South Asia, discussed the vibrant Indian startup scene, noting its strength and innovation potential. "We are the 5th largest economy, we are trending towards becoming the 3rd largest... factors that will contribute to it are labor addition, infrastructure growth, and efficiency improvements, where technologies like GenAI will play their part, a large developer ecosystem, the ability to build products in the country and serviced all over the world, then there are regulatory tailwinds as well," he said. Raghavan lauded the maturity of the Indian startup ecosystem, noting the significant contributions of experienced founders who have embarked on multiple entrepreneurial ventures. "We are the third largest startup ecosystem

After strong FY24, economic growth momentum to stay in Q1FY25: FinMin

Industrial activity gaining momentum with improved capacity utilisation

99.9% would pay no inheritance tax if bar set at Rs 10 crore: Study

World Inequality Lab says tax gains could raise health, education expenditure

US Treasuries behind RBI's Rs 2.1 trillion bumper surplus to Centre

Dollar sale also helped; Such high surplus likely to be one-off

ILO to hold talks to add framework for workforce protection in care economy

Member countries, including India, are expected to develop their national policies for promotion of care workers in line with international standards

Indian firms' external commercial borrowing registration up 84% in FY24

Value doubles to $49.2 bn as firms raise capital for modernisation projects and infrastructure development

Road transport fleet operators' revenue to grow by 9-11% in FY25: CRISIL

The agency expects operating margins of fleet operators to increase by 75-100 basis points (bps) in the ongoing fiscal year