Page 73 - Indian Economy

Cerberus eyes private debt growth in India as shadow banks retreat

India is fast emerging as a big market for private credit activity, as global firms deploy billions, lured by the fastest-growing major economy

Next 5 years for India going to be of economic stability: J Sai Deepak

The next five years for India are going to be of economic stability coupled with volatility on different fronts, a prominent Supreme Court advocate has said, observing that the country's growth story will be impeded by law and order issues if the government doesn't come out with a mechanism to deal with the street warfare. I think the economic success of Bharat is a foregone conclusion for multiple factors, and I'm not being overconfident here. There is a hunger for economic growth within the population, which is significantly driving the India story," J Sai Deepak, who is also a popular public speaker among the BJP's support base, told PTI in an interview here. This hunger coupled with the enabling factors that the government has decided to create, in terms of a conducive atmosphere, will certainly help the growth story, he said. But the growth story will be impeded by law-and-order issues if the government doesn't come out with a mechanism to deal with the revised form of street .

Spice row: Govt plans greater scrutiny, guidelines on use of ethylene oxide

ETO, a flammable, colourless gas is generally used as a disinfectant, sterilising agent as well as an insecticide to reduce microbial contamination in spices

India urges ADB not to overlook its focus on growth, shared prosperity

India on Sunday urged the Asian Development Bank (ADB) not to overlook its focus on reduction of remaining poverty while promoting sustainable growth for the member nations in the Asia Pacific region. Making intervention at the Board of Governors Business Session at the 57th Annual Meeting of ADB, India's Temporary Alternate Governor Vikas Sheel said the bank has played a critical role in facilitating measures of faster economic development, reducing poverty and promoting regional cooperation while effectively addressing the challenges and delivery of global public goods. "We note with concern that economic growth and dealing with the remaining poverty do not find a place in the enhanced focus areas of the ADB in the review of its Strategy 2030. We urge ADB not to overlook the ADB's charter mandate on growth and shared prosperity," he said. He assured India's continued support to work towards accelerated inclusive and sustainable growth in Asia and the Pacific. Due to ongoing gener

Economy will regress into 'fragile five' if Cong manifesto implemented: FM

If Congress' poll manifesto were to be implemented, the Indian economy currently ranked among the top five globally, would regress into the "fragile five", Union Finance Minister Nirmala Sitharaman said on Saturday. She claimed the Congress poll document is "more akin to a Muslim League document" and the BJP is duty-bound to question its import. Sitharaman's attack comes against the backdrop of the 'conducting an economic survey and x-ray of society' remarks made by Rahul Gandhi and the BJP's allegation that Congress is planning redistribution of wealth if voted to power. "It is the worst manifesto which is not in the interest of the nation," Sitharaman said. Speaking at a meeting with select journalists in Pune, the finance minister wondered whether the Congress has conducted the necessary financial planning to fulfil the assurances listed in its manifesto. "I know they are not coming to power, but I would still like to ask, even if the subject of the Congress manifesto were to b

INDIA bloc PM will be first among equals, will listens to others: Tharoor

Opposition parties, campaigning together or against each other, will join hands after the Lok Sabha polls, says Congress leader Shashi Tharoor, asserting that the people will get a prime minister who is first among equals and listens to others with an INDIA bloc coalition government. Including the Trinamool Congress in his argument on opposition parties getting together after the day of reckoning on June 4, Tharoor said in an interaction with PTI editors at the news agency's headquarters that a coalition government is nothing to be afraid of. The growth performance of the Indian economy has been better under such dispensations than under single party governments, he said. In his view, this is an election for "change" and as of now the BJP has "lost its grip" on the narrative. The Congress Working Committee (CWC) member also defended the party's decision to not attend the 'pran pratishtha' ceremony at the Ram temple in Ayodhya, saying it was right to turn down the invitation as it w

India's services exports growth enters slow lane in FY24: RBI data

Falls to 3-year low of 4.9%, but net services exports grow at 13.6%

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,