Page 81 - Indian Economy

Knight Frank India hires Harry Rogers as director of global capital markets

On the new addition to the firm, Knight Frank's Chairman Shishir Baijal highlighted the significance of Rogers' appointment at a time when India's real estate market landscape is thriving

Europe's higher defence expenditure may hit exports

To find more resources to fund higher defence expenditure, Europe may have to raise taxes or cut government spending on welfare and other development activities

MP strives to double its share in GDP with Rs 1 trn investment drive

Major investments to drive state's economic growth and job creation, says CM

India eliminates extreme poverty: Economists citing consumption expenditure

India has eliminated extreme poverty, a commentary authored by economists Surjit Bhalla and Karan Bhasin in a leading American think-tank The Brookings Institution said, citing the just released consumption expenditure data for 2022-23. In the article, the two noted economists cite the data to say real per capita consumption has grown 2.9 per cent per annum since 2011-12, with rural growth at 3.1 per cent being significantly higher than urban growth of 2.6 per cent. Also, there has been an unprecedented decline in urban and rural inequality. The urban Gini declined from 36.7 to 31.9; the rural Gini declined from 28.7 to 27.0. The Gini coefficient, or the Gini index, measures the inequality of income distribution, whereas a higher value closer to one (or 100 per cent) represents greater inequality. "In the annals of inequality analysis, this decline is unheard of, and especially in the context of high per capita growth," the article states. High growth and a large decline in inequa

GST mop-up rises over 12.5% to Rs 1.68 trn, car sales remain strong

The manufacturing sector, too, gathered momentum in February on the back of expansion in new export orders and easing of pricing pressures

Modi's vision to make India aatmanirbhar in all sectors: PM principal secy

Prime Minister Narendra Modi has a grand vision to make India a thought leader in science and technology and aatmanirbhar in all sectors, said PM's principal secretary PK Mishra here on Friday. Addressing students and faculty members at the Kalinga Institute of Information Technology (KIIT), Mishra outlined the Prime Minister's vision for India 2047, aiming for developed status while preserving nature and culture through technology adoption. He encouraged alignment between the growth of the youth and the country, emphasising the synergy it could create. Mishra mentioned the recently launched 'Voice of Youth' initiative, urging young minds to contribute ideas towards the vision of a developed India. Mishra stressed the role of women in India's development and the need for an economy free from corruption, casteism, and communalism. He stressed on inclusivity and diversity in higher education to empower students from all backgrounds. Discussing the National Education Policy 2020, Mi

WTO: Fighting for rights of small fishermen, says FM Nirmala Sitharaman

The ongoing WTO 13th ministerial conference (MC13) in Abu Dhabi, which was supposed to end on February 29, has been extended by a day due to the logjam over key issues

India's Q3 GDP growth boosted by sharp fall in key subsidies: Report

Government data showed fertiliser subsidies in the October-December quarter declined by nearly 70% to 307 billion rupees ($3.7 billion) from the same period a year ago

GST mop-up grows 12.5% to over Rs 1.68 trillion in February: FinMin

The average monthly gross collection for the current fiscal stood at Rs 1.67 lakh crore, exceeding Rs 1.5 lakh crore in the last fiscal

Economy expands 8.4% in Q3; FY24 growth projection now up at 7.6%

The National Statistical Office (NSO), in its second advance estimates data released on Thursday, revised the FY24 growth estimate upward to 7.6 per cent, from the 7.3 per cent projected in January

Q3 GDP growth surges to 8.4%: Unravelling the story of robust growth

Yet, such discrepancies in India's economic data are not unprecedented. That's also the case with large downward revisions of past data that boost recent growth rates

Three out of five large economies recorded slow growth, shows data

Some larger economies are doing better than others. The United States (US) and China in particular have shown a stronger growth rate in the fourth quarter of the calendar year 2023

Monsoon woes: Farm sector contracts in Q3, a first in 19 quarters

The growth stood at 5.2 per cent in the third quarter of 2022-23 which also played a part in pulling down agriculture and related sector's GVA

Economy on high growth trajectory due to sustained reforms: India Inc

India Inc on Thursday said 8.4 per cent GDP growth in the October-December quarter of FY24 has "surpassed" expectations, and the economy is on a high growth trajectory due to sustained reforms undertaken by the government. India's economic growth accelerated to 8.4 per cent in the October-December quarter of this fiscal, driven by double-digit growth in manufacturing and good showing by mining & quarrying and construction sectors. The GDP (gross domestic product) growth was 4.3 per cent in the October-December 2022 quarter, according to the data released by the National Statistical Office (NSO) on Thursday. "Industry is enthused to note the strong set of GDP growth numbers for the third quarter (YoY), which surpassed expectations...What is more comforting to note is the fact that the robust expansion came despite the recurring spate of geopolitical flashpoints," said Chandrajit Banerjee, director general, CII. He further said the Indian economy is on a high growth trajectory ...

Indian economy ticks many boxes in the right way, says CEA Nageswaran

He urges global rating agencies to reassess their estimates of India's potential growth rate to 7 per cent

Sustained momentum

Private consumption remains a weak spot

At Rs 11 trillion, fiscal deficit narrows to 64% of revised estimates

Both revenue and capital expenditure for the April-January FY2024 period was around 75 per cent

8.4% GDP growth shows economy's strength, potential, says PM Modi

The GDP growth of 8.4 per cent in the third quarter shows the strength of Indian economy and its potential, Prime Minister Narendra Modi said on Thursday, asserting that the government will continue to make efforts to keep fast economic growth and help 140 crore Indians lead a better life and create a 'Viksit Bharat'. Beating estimates, India's economic growth shot to 8.4 per cent in the third quarter of 2023-24, mainly due to good performance by the manufacturing, mining & quarrying, and construction sectors. Modi said, "Robust 8.4% GDP growth in Q3 2023-24 shows the strength of Indian economy and its potential.

GDP growth rate accelerated to 8.4% in Q3FY24; FY24 growth estimate at 7.6%

In the previous quarter, it was 7.6 per cent and 7.8 per cent in the July quarter

Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data

In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 67.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23