Page 99 - Indian Economy

Day not far when India will be among top three economies, says PM Modi

PM Modi stated further that the maritime industry will be boosted no end once the India-Middle East-Europe Economic Corridor comes to be implemented

Indian economy projected to grow at 6.3% in FY24, says Ficci Survey

The Consumer Price Index (CPI)-based inflation is expected to remain at 5.5 per cent in FY24, with a range of 5.3 per cent to 5.7 per cent

Wholesale inflation rises to -0.26% in Sept, food inflation eases to 1.54%

The WPI-based inflation rate has been in the negative for the sixth consecutive month since April

Fueling India's innovation engine

India's $7 billion space industry has launched over 300 satellites for global clients and could grow to over $50 billion in 2024 if provided proper policy support

Over 1.94 million new workers enrolled under ESI Scheme in August

According to the official release, around 24,849 new establishments have been registered and brought under the social security umbrella of the ESIC in August 2023, thus ensuring more coverage

The economic mosaic: Chugging along at the 'new-old normal' growth rate

A GDP growth rate of 6-plus per cent is great, given the global context, but there's no near-term prospect of acceleration, notes T N Ninan

In economic shift, smaller cities keep consumption engine running

Non-essential spending has increased more in non-metro segment as incomes rise

India still far from replacing China as global growth engine, says HSBC

HSBC expects the gap between the two economies to continue to widen in the foreseeable future, expanding to $17.5 trillion by 2028, based on IMF forecasts

CPI-based inflation eases to 5.02% in Sep; Aug IIP growth zooms to 10.3%

Food inflation fell to 6.56 per cent in September against 9.67 per cent in August

India expected to become $30-trillion economy by 2050: Chakraborty

India is expected to become a USD 30-trillion economy by 2050 pushed by robust consumption and exports, HDFC Bank chairman and former economic affairs secretary Atanu Chakraborty said on Wednesday. International financial institutions have projected India's growth to be around 6.3 per cent this year and inflation at about 6 per cent, so nominal GDP would be around 10-12 per cent, he said. "If this kind of pace continues for some year, it will make India a USD 30-trillion economy by 2045-50 with per capita income of USD 21,000," he said at an event organised by KPMG here. International Monetary Fund (IMF) on Tuesday raised India's GDP projection marginally by 0.2 per cent to 6.3 per cent even as it slashed the global growth forecast to 3 per cent. IMF in July had estimated India's GDP forecast at 6.1 per cent for 2023-24. However, this is lower than the RBI's latest estimate of 6.5 per cent for the current financial year. Last week, the World Bank retained India's growth forecast a

India global powerhouse of growth, innovation: PM Modi on IMF forecast

With the IMF forecasting robust economic growth in India amid concerns about the global economy, Prime Minister Narendra Modi on Tuesday said the country is a global bright spot and powerhouse of growth and innovation. The International Monetary Fund (IMF) on Tuesday raised India's GDP projection marginally by 0.2 per cent to 6.3 per cent even as it slashed the global growth forecast to three per cent. "Powered by the strength and skills of our people, India is a global bright spot, a powerhouse of growth and innovation. We will continue to strengthen our journey towards a prosperous India, further boosting our reforms trajectory," the prime minister said on 'X', citing the IMF figures. "Growth in India is projected to remain strong, at 6.3 per cent in both 2023 and 2024, with an upward revision of 0.2 percentage point for 2023, reflecting stronger-than-expected consumption during April-June," the IMF's 'World Economic Outlook' said. India's growth is projected to be higher than ..

Inflation seen easing to 5.50% in Sept on softening food price rises: Poll

Inflation, as measured by the annual change in the CPI , was forecast to have fallen to 5.50% in September from 6.83% in August, according to an Oct. 3-9 Reuters poll of 66 economists

Uncertain outlook

IMF warns of geopolitical risks to world economy

Will foster blue economy, attract capital to propel maritime industry: Govt

The Union Minister was addressing a press briefing ahead of the most awaited maritime event 'Global Maritime India Summit- 2023' of the nation

To be a developed country by 2047, India needs to focus on 5 areas

Moving up from 6% to 8% growth is possible but the country needs to reset its priorities for that, writes Amarjeet Sinha

Business confidence index at three-quarter high in second quarter: CII

The rural economy has been on an upswing, as evident from the surge in fast-moving consumer goods (FMCG) sales and agricultural incomes in Q1 FY24

UTIKS portal launched to promote understanding of Indian culture abroad

The Portal is aimed at disseminating knowledge and authentic information about Indian culture to the uninitiated

Cricket World Cup may add $2.4 billion to Indian economy: Bank of Baroda

The quadrennial tournament, which starts on Thursday and runs through mid-November, is expected to draw large numbers of visiting fans domestically and internationally

As households save less, India's growth story may not have happy ending

What the data suggests, however, is that India's numbers are unsustainable. They're driven by debt-fueled household consumption and government investment

Rural reprieve pushed India's unemployment rate to 1-year low in Sept: CMIE

The overall joblessness rate slid to 7.09% last month, from 8.10% in August, data from private research firm Centre for Monitoring Indian Economy showed.