NEW DELHI: External affairs minister, S Jaishankar, citing a Goldman Sachs study said that India is on track to reach a significant milestone by 2030, becoming the world’s third-largest economy.Addressing the NDTV World Summit 2024: The India Century on Monday, Jaishankar elaborated on the study’s projections, which estimate India’s economy to grow to an impressive…
Asian Development Bank (ADB) chief economist Albert Park was in the Capital for the Kautilya Economic Conclave. In an interview, he told TOI that the agency is keeping close tabs on global crude prices to assess the impact of the escalating conflict in West Asia on the region and advocated that trade and investment channels…
NEW DELHI: The manufacturing sector has shrugged off the impact of Covid-19 and posted robust growth, creating jobs and raising workers’ incomes, according to a survey report released on Monday, prompting policymakers to say that overall economic growth could rise in the months ahead.The annual survey of industries (ASI) for 2022-23 financial year showed that…
MUMBAI: Coordination between RBI and govt has helped bring down the trade-off between battling inflation and growth, RBI governor Shaktikanta Das said.RBI has steadfastly maintained that there is no trade-off between growth and inflation in the long term, as low inflation is a prerequisite for sustainable growth. However, its monetary action to curb inflation, besides…
MUMBAI: The US central bank’s aggressive move on Wednesday to cut interest rates by a half percentage point could turn out to be a tailwind for the Indian economy.It could help increase the flow of foreign funds into Indian markets, aid the rupee’s stability and fuel the current bull rally, top govt officials, economists and…
The US Federal Reserve lowered its benchmark interest rate by a half percentage point (50 basis points) on Wednesday, in an aggressive start to a policy shift aimed at bolstering the US labour market.Projections released following their two-day meeting showed a narrow majority, 10 of 19 officials, favoured lowering rates by at least an additional…
NEW DELHI: The US Federal Reserve reduced interest rates by 50 basis points on Wednesday, marking the first cut in over four years. In its statement, the Federal Open Market Committee (FOMC) said, “In light of progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal…
Record imports push trade deficit to near all-time highNEW DELHI: India’s trade deficit neared record level in Aug as a surge in gold shipments pushed up monthly imports by 3.4% to an all-time high of $64.4 billion, while exports fell 9.4% to $34.7 billion.As gold imports more than doubled to a new high of over…
MUMBAI: The new external members of RBI‘s monetary policy committee, who are likely to be appointed by govt this month, are set to face new risks to growth – evident in macroeconomic numbers.RBI governor Shaktikanta Das noted some external risks to growth in a recent speech at a Bretton Woods event in Singapore. Besides Das,…
MUMBAI: RBI governor Shaktikanta Das said that India’s growth potential is around 7.5% or more, higher than the central bank’s 7.2% forecast for the current financial year.The potential growth rate refers to the rate at which the economy can grow over the long term without triggering inflation. The governor made this statement at the Bretton…
