Page 74 - Indian Economy

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

Rupee at 2-week high on improved risk appetite; forward premiums tick up

The dollar index declined on Tuesday and was last quoted at 105.6, while the Korean won and Indonesian rupiah rose by 0.4% each to lead the gains among the rupee's Asian peers

Extreme weather conditions, crude pose inflation risk: RBI Bulletin

Patra says that economy must grow at 8-10% in next three decades to take advantage of demographic dividends

India's positive demand trends fuel flash composite PMI to 62.2 in April

The index measuring the month-on-month change in the combined output of India's manufacturing and service sectors was inside growth territory for the 33rd consecutive month

Payments banks bat for new model, pin hopes on lending licence amid stress

Payments banks can receive deposits of up to ~2 lakh per customer, but cannot lend

Centre begins early preparations for new World Bank Business index

Interministerial meetings underway with DPIIT to get a head start on B-Ready, due for 2026

Outward foreign direct investment by Indian companies stabilises in FY24

In terms of commitments for equity, the amounts continued a downward trajectory to $8.15 billion in FY24 from $8.62 billion in FY23 and $13.39 billion in FY22

Net direct tax collection surpasses RE in FY24; corp tax receipts a miss

Exceeds estimates by 0.7% to hit Rs 19.58 trn

Sustaining the India growth story

But could India really overtake China and the United States to become the world's largest economy by the end of this century, as some predict?

RBI's monetary policy committee refuses to drop its guard on inflation

"We should stay the course and remain vigilant', says RBI Governor Shaktikanta Das

EPFO considers higher minimum wage cap 10 years after last hike

Even the Employees' State Insurance Corporation (ESIC), which provides healthcare benefits to workers and comes under the administrative control of the labour ministry

Rupee hits new intraday low, bond yields surge amid geopolitical tensions

The yield on the newly issued 10-year bond has risen by 6 basis points since its issuance

EPFO net subscribers' addition rises over 19% to 16.5 million in FY24

Retirement fund body EPFO registered over 19 per cent growth year-on-year to 1.65 crore members in 2023-24, as per the latest payroll data, showing improvement in the employment situation in the country. "In last 6 and half years alone, more than 6.1 crore members joined the EPFO (Employees' Provident Fund Organisation) fold, indicating formalisation of the job market," a labour ministry official told PTI. The data shows that the EPFO had added 61.12 lakh net subscribers in 2018-19, which increased to 78.58 lakh in 2019-20. However, it dipped to 77.08 lakh in 2020-21, mainly due to the pandemic effect and improved again to 1.22 crore in 2021-22 and 1.38 crore in 2022-23. The official informed that the net subscribers addition by the body increased by over 19 per cent to 1.65 crore in 2023-24 compared to 1.38 crore in 2022-23. The net addition in EPFO subscriptions is an indicator of the extent of formalisation of the job market, and the coverage of social security benefits to the

The case of apprentices: Why apprenticeship has not taken off in India

A recent report by the ILO on the employment situation in India says the country remains poised to reap its demographic dividend for at least another decade