Page 3 - State Of Indian Economy

India expects FY25 growth of over 7%, says CEA V Anantha Nageswaran

The possibility of growth touching 8% in the last fiscal year that ended on March 31 is quite high, he added

India's services PMI slides in April, remains robust due to strong demand

The headline Purchasing Managers' Index (PMI) figure, released by HSBC, slid to 60.8 in April from 61.2 recorded in March

April services PMI softens to 60.8 but remains sturdy on robust demand

Favourable market conditions and buoyant demand pushed the new business sub-index to a three-month high, the third-highest in around 14 years

Unprecedented job creation recorded under Modi govt: Surjit Bhalla

Former India's executive director at IMF Surjit Bhalla on Sunday said that on an average basis, an unprecedented number of jobs are being created under the Narendra Modi government, with the number touching about 10 million over the last 7-8 years. Bhalla further said the least number of jobs were created during 2004-2013 (UPA government period), and it was then that the term 'jobless growth' came about. "The job creation by the Modi government has been the highest on record. "Never before in Indian history have so many jobs been created on an average basis. Something close to 10 million jobs over the last 7-8 years," he told PTI in a video interview. Bhalla, a former member of the Economic Advisory Council to the Prime Minister (EAC-PM), asserted that the maximum number of jobs were created during the tenure of Atal Bihari Vajpayee and Modi. He was responding to a recent International Labour Organization (ILO) report, which showed that in 2022, the share of unemployed youths in .

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

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

IMF praises India for maintaining fiscal discipline in election year

For the demographic dividend to be reaped, India has to invest a lot in education and health

Our economy doing well compared to global growth: India to World Bank

Despite a challenging global scenario, India's economy has shown robust growth over the past year backed by sustained consumption and investment demand, a top Indian official told members of a World Bank committee here. The GDP growth estimate for the fiscal, which has been revised upwards from 7.3 per cent to 7.6 per cent in the second advance estimates, highlights the enduring strength and resilience of the Indian economy, India's Economic Affairs Secretary Ajay Seth said while addressing the Development Committee meeting here on Thursday. India grew above 8 per cent for three consecutive quarters of FY24, reaffirming its position as a standout performer amidst sluggish global growth trends, Seth said. He said that similar sentiments have been echoed by various agencies who have revised India's fiscal 24 growth estimate closer to 8 per cent. India's proactive stance on reform and investment in sustainable growth avenues sets a benchmark for emerging economies. The Indian delegati

India not reaping benefits of its demographic dividend: Raghuram Rajan

India is not reaping the benefits of democratic dividends, former RBI governor Raghuram Rajan said Tuesday, emphasizing that there is need to focus on improving the human capital and enhancing their skill sets. I think we are in the midst of it (democratic dividend), but the problem is we are not reaping the benefits, Rajan said at a conference on Making India an Advanced Economy by 2047: What Will it Take at the George Washington University here. That's why I said 6 per cent growth. If you think that's about what we are right now, take away the fluff in the GDP numbers. That 6 per cent is in the midst of a demographic dividend. It is much below where China and Korea were when they reaped their demographic dividend. And that's why I'm saying we are being overly complicit when we say this is great. This is not because we are losing the demographic dividend because we are not giving those guys jobs, the former RBI governor said. And that leads us to the question, how do we create thos

India's growth dependent on global interdependence: Ex-US trade official

: The current China situation presents an opportunity to be an alternative or additional node in global supply chains, a former US trade official said Tuesday and asserted that India's economic prosperity will be driven by its global interdependence in increasing trade and investments into and from India, helping drive job creation, GDP growth and prosperity. The former official said as India becomes the third largest economy in nominal GDP and as the Indian middle class grows to become larger and with higher incomes, it will emerge as a significant market for US and global businesses. India's productive capacity will similarly find enhanced ways to serve global demand as we already see in technology, he said. India is a beneficiary of globalisation. Its economic prosperity will be driven by its global interdependence, in increasing trade and investments into and from India, helping drive job creation, GDP growth and prosperity. Today the global supply chain situation works in ...

ADB ups India GDP forecast to 7% for FY25 on investments, consumer demand

Supply line disruptions and weather shocks to agriculture are key risks to outlook, says lender

India's economy doing good, efforts needed to sustain it: Sanjeev Sanyal

India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 -- the fastest pace in one-and-half years

ADB raises India's GDP growth forecast for FY25 to 7% from 6.7% earlier

The ADB had in December last year projected the Indian economy to expand 6.7% in the 2024-25 fiscal

India aims to attract $100 bn a year in FDI as it woos China hedgers

Boosting the share of manufacturing in India's economy has been one of the key promises made by Modi, who is seeking a third term in elections that start on April 19

Indian talent in IT sector crucial to bringing jobs to India: Anurag Thakur

Hailing the Narendra Modi-led government, Thakur said MODI stands for "Master of Digital Information" and also maker of developed India - Viksit Bharat

Services PMI registers strongest growth in 13.5 yrs, rises to 61.2 in Mar

In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction

Highlights: Sunita Kejriwal releases phone number to rally support for Delhi CM

From Muktar Ansari's death to the dip in student applications to Harvard University, catch all the latest updates from around the world here

Indian economy in distress but BJP doesn't understand, says Chidambaram

Senior Congress leader P Chidambaram on Thursday claimed that the Indian economy is in "severe distress" and alleged "the so-called doctors of the BJP" do not care. In a post on X, the former finance minister said the BJP claims that the Indian economy is in robust health in 2023-24, but has no explanation why net foreign direct investment (FDI) inflows have dropped by 31 per cent. FDI is a measure of the confidence that foreign investors have in a country, the government and its policies, he pointed out. Such confidence has declined sharply in 2023-24, Chidambaram said. "BJP gives certificates to itself. The good certificate must come from foreign and Indian investors. Indian investors have expressed no confidence in the policies of the BJP government during the last three years," he said. That is why the finance minister had to admonish them and, when that failed, beg them to increase their investments, the Congress leader said. He further said that foreign investors have reali

BS Manthan: India has long road ahead in green energy targets, say experts

Country's ambition of rapid economic growth must balance with its climate change commitments, they say at Business Standard summit

India's surprise GDP driven by more than just one-off factors, says CEA

The surprise 8.4% surge in gross domestic product was largely due to base effects related to subsidies, which boosted the net indirect tax category, CEA V Anantha Nageswaran said