NEW DELHI: Referring to escalating regional conflicts in Ukraine and West Asia, PM Narendra Modi on Friday struck a confident note on the Indian economy, suggesting that the world was upbeat on an “Indian era” in light of decade-long transformation changes.“The two regions are very crucial for the global economy and from the point of…
NEW DELHI: India’s growth momentum remains strong with Asia’s third-largest economy expected to expand 6.5-7% this year on the back of a good monsoon that is expected to help boost farm growth and rural demand as well as private investment, chief economic adviser V Anantha Nageswaran said on Friday.“In the medium term, the Indian economy…
Government plans 12 new industrial parks and multiple mega textile parks: Piyush Goyal The government is setting up 12 new industrial parks across the country and has 5-6 mega textile parks lined up, Minister of Commerce and Industry Piyush Goyal said on Tuesday. He urged the private sector to take advantage of these initiatives. Speaking…
Budget 2024: Prime Minister Narendra Modi on Tuesday addressed a CII post-Budget 2024 conference, stating that in 10 years, his government has tripled India’s Budget. The last Budget presented by the Manmohan Singh government in 2014 was of Rs 16 lakh crore. Ten years later, the Union Budget 2024 presented by us a few days…
NEW DELHI: IMF on Tuesday revised the growth projection for India to 7% during the current financial year, compared to the earlier estimate of 6.8%, citing upward revisions to growth last year and improved prospects for private consumption, especially in rural areas. The assessment will provide comfort to analysts and policymakers as rural demand is…
India’s manufacturing sector experienced a slowdown in growth during May, with the HSBC final India Manufacturing Purchasing Managers’ Index falling to 57.5 from 58.8 in April. Despite this decline, the index remained above the 50-mark, indicating continued expansion in the sector. The slowdown was attributed to a combination of factors, including a heatwave that led…
India FY24 GDP growth data: Indian economy grew at a faster-than-expected rate of 7.8% year-on-year in the January-March quarter, driven by robust growth in the manufacturing sector. For the full year 2023-24 it is estimated that India’s GDP is estimated to have grown at a robust 8.2%. Economists anticipate this momentum will remain strong throughout…
India is poised for a long-awaited economic take-off, driven by rising aggregate demand and increased non-food spending in the rural economy, according to the Reserve Bank of India‘s May Bulletin released on Tuesday. Rising aggregate demand The RBI’s article on the ‘State of the Economy’ highlighted a quickening momentum in aggregate demand. Recent indicators show…
Big achievement! India is on track to surpass Japan as the world’s fourth-largest economy by 2025, according to Amitabh Kant, India’s G20 Sherpa and former CEO of Niti Aayog. According to Kant, based on several positive macroeconomic indicators. India’s GDP currently ranks fifth, following the United States, China, Germany, and Japan, having overtaken the United…
NEW DELHI: India’s foreign exchange reserves declined for the second week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion.As per the latest data released by the Reserve Bank of India (RBI), the country’s foreign exchange kitty declined by USD 2.828 billion to USD 640.334 billion in…
