Page 6 - Niti Ayog

No prospect of recession in India, economy to grow at 6-7 pc: Rajiv Kumar

India will still grow at 6-7 per cent in the next 2023-24 fiscal even as the economy may be affected by uncertain global conditions, former Niti Aayog Vice-Chairman Rajiv Kumar has said amid growing fears of the world slipping into a recession. Kumar further said there is a synchronized downturn in the US, Europe, Japan and also in China and that could take the global economy into a recession in the coming months. "Thankfully, there is no such prospect of recession in India, because although our growth may be negatively affected by the global conditions, we will still manage to grow at 6-7 per cent in 2023-24," he told PTI in an interview. The World Bank on October 6 projected a 6.5 per cent growth rate for the Indian economy for 2022-23, a drop of one percentage point from its June 2022 projections, citing the deteriorating international environment, while IMF projected a growth rate of 6.8 per cent in 2022 as compared to 8.7 per cent in 2021 for India. IMF chief Kristalina Georgi

From UPA govt's CEA to PM Modi's NITI Aayog member: Who is Arvind Virmani?

Prime Minister Narendra Modi has approved Virmani's appointment notified on November 15. Here's all you need to know

FM Nirmala Sitharaman reviews progress of National Monetisation Pipeline

Finance Minister Nirmala Sitharaman on Monday reviewed the progress of the National Monetisation Pipeline (NMP) in a meeting here with top officials from various ministries and NITI Aayog. The finance minister in August last year had announced a Rs 6 lakh crore NMP aimed to unlock value in infrastructure assets across sectors ranging from power to road and railways. "Union Finance Minister Smt. @nsitharaman chairs the meeting to review the progress of National Monetisation Pipeline #NMP, in New Delhi, today," the finance ministry said in a tweet. The aggregate asset pipeline under NMP over the four-year period is indicatively valued at Rs 6 lakh crore. The estimated value corresponds to 14 per cent of the proposed outlay for the Centre under the National Infrastructure Pipeline (Rs 43 lakh crore). The meeting was attended by Finance Secretary; CEO @NITIAayog; Secys of DEA; DoR;@DPE_GoI; @tourismgoi; @PetroleumMin; @DoT_India; @MinOfPower; @fooddeptgoi; @MoCA_GoI; @shipmin_india; ..

NITI Aayog seeks clarity from Centre on Digi Yatra's data privacy

NITI Aayog seeks that the rules related to deletion of other information collected from the passengers must be clearly set out in Digi Yatra's policy

Top headlines: Borrowing costs bite, mechanism for sharing trade data

Business Standard brings you the top headlines this hour

Can NITI Aayogs replace State Planning Boards to spur economic growth?

Experts believe merely replacing the state planning boards with such bodies won't make them effective

India pitches green hydrogen, renewable financing to Singapore Deputy PM

India is expected to pitch green bonds and similar such new age financing tools for investment in the Indian renewable energy sector

Sitharaman nudges fintech players to have more engagement with govt

Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, Chairman, Global Fintech Fest (GFF) 2022 Advisory Board, who wanted to know how to ensure trust among industry, regulators, and the government. "I don't want to sound cliche, but distance brings distrust. So, cut the distance down, have greater engagement with the government," the minister said. Sitharaman further said everyone in the government, whether the prime minister, ministers or think-tank Niti Aayog, is constantly available for engagement, discussions, and exchange of ideas. "So greater the engagement, greater the trust, which gets built up. So I think one sure shot way of retaining and building on trust is to keep the constant engagement going," she said. To a question related to the role of the central bank and the finance ...

Green mobility to play key role in India's decarbonisation: NITI CEO Iyer

Green mobility is going to play a major role in decarbonisation of India's transport sector, NITI Aayog CEO Parameswaran Iyer said on Wednesday. Iyer, while addressing an event organised by the 'Shoonya Forum', noted that the role of financing is critical for scaling of electric mobility in India. He also stressed on the need of finding ways to reduce risks associated with financing of electric vehicles. Pointing out that the rural India is urbanising rapidly, the NITI Aayog CEO said there is a need to push electric vehicles in smaller cities also. According to a recent report prepared by NITI Aayog and Rocky Mountain Institute (RMI) India, banks and non-banking financial companies (NBFCs) have the potential to achieve electric vehicle financing market size of Rs 40,000 crore by 2025 and Rs 3.7 lakh crore by 2030. The report had also stressed that lending by banks and NBFCs for buying EVs should be included in the Reserve Bank of India's (RBI) priority-sector lending (PSL) ...

India's truck market likely to grow over 4-times by 2050: Niti report

India's trucking market is expected to grow over four times by 2050, a Niti Aayog report said on Friday and suggested that financial institutions can work to structure more-favourable financing solutions for zero-emission trucks. The report titled 'Transforming Trucking in India: Pathways to Zero-Emission Truck Deployment' further said as road freight travel continues to grow, the number of trucks is expected to more than quadruple, from 4 million in 2022 to roughly 17 million trucks by 2050. "India's trucking market is expected to grow over 4x by 2050 -- fuelling the nation's economy and transportation emissions," it said. Pointing out that road transport (i.e. trucks) carries the bulk of India's goods, 70 per cent of today's domestic freight demand, the report said heavy and medium-duty trucks (HDTs and MDTs) are responsible for most of that road transportation. According to the report, currently, India transports 4.6 billion tonnes of freight annually, generating a transport dem

Use technology to make insurance affordable, says Irdai chairman Panda

Panda also nudged the industry to come out with solutions that are pocket-friendly

SKM rejects August 22 meeting of Committee on MSP, says no hopes from it

Samyukta Kisan Morcha leaders on Tuesday opposed the upcoming meeting of the committee on Minimum Support Price, calling the panel a farce and said nothing conclusive will come out of the talks

Healthy competition between states is the need of the hour: PM Modi

PM Modi said that while the Centre and the states may have different schemes, or a different style of working, dreams for a nation will still remain the same

Self-sufficiency in foodgrain shows India can reduce imports: PM Modi

Government encourages farmers to diversify crops, but doing away with imported oilseeds and pulses challenging

Jal Jeevan Mission makes significant strides in 3 years since inception

Around 52% of rural households have been provided piped water supply till August

Master of the U-turn: Nitish Kumar ends alliance with BJP, quits as CM

Nitish Kumar's decision to resign as the CM comes after speculations were rife about his party's alliance with BJP

PM Modi asks states to focus on crop diversification at Niti Aayog meeting

The PM also spoke about India's G20 presidency in 2023 and called it a unique opportunity to show the world that India is not just Delhi - it is every State and Union Territory of the country

Baghel seeks extension of GST compensation for 5 years at NITI Aayog meet

Chhattisgarh Chief Minister Bhupesh Baghel Sunday reiterated his demand to the Centre seeking a five-year extension for the compensation paid to states for revenue shortfall due to GST implementation

Think tank established with mandate of cooperative federalism: NITI Aayog

NITI Aayog was responding to Telangana Chief Minister K Chandrashekar Rao's allegations of the Centre not treating states as equal partners in efforts to make India a developed country.

Institution useless: KCR to PM Modi as he will boycott NITI Aayog meeting

In a letter to Modi, KCR, as Rao is also known, said the country can develop only when States develop. Strong and economically vibrant States alone can make the nation strong, he said.