Economy Growth

More than Rs 40,700 crore sanctioned under Stand-Up India Scheme in 7 years

The scheme aims to promote entrepreneurship at the grassroot level focusing on economic empowerment and job creation and has been extended up to the year 2025

India will have exponential growth in next 25 years, says IPM India MD

/ -- India became the fifth largest economy of the world, overtaking the UK and is set to become the third largest by 2029. According to the IMF (International Monetary Fund), India is expected to leap further ahead of the UK up to 2027 - making it the fourth largest economy by that time. The recent geo-political re-alignments coupled with global supply chain issues provide an opportunity for the country to become a global manufacturing hub. Organizations are focusing on de-risking their supply chain dependencies and are exploring newer markets to bolster their manufacturing capabilities. This shift creates a conducive environment for India, which is the most suited candidate to establish itself as the next best destination owing to its strategic geographical location, infrastructure and skilled workforce. Sharing his views, Alexander Reisch, Managing Director, IPM India,opined, "India is poised to become the preferred destination for manufacturing and is paving its way to becoming a

An idea whose time has come: Will NFIR be a game-changer for India?

The proposed financial registry will kill information asymmetry, and change the dynamics for every stakeholder in the economy for the better, reports Raghu Mohan

VC investment in India expected to remain sluggish in Q1 2023: KPMG report

VC investment in India is expected to remain soft in the first quarter of 2023, before starting to pick up in Q2 in part due to India's strong growth and consumption expectations

Contribution of cesses to central govt's tax kitty doubles to over 18%

States have been concerned about increasing cases of Centre imposing cesses for garnering additional revenue

MPC ups inflation projection for Q3 and Q4, keeps it at 6.7% for full FY23

Panel cuts economic growth forecast by 20 bps to 6.8% for the year; Q3 lowered by 20 bps and Q4 by 40 bps

Latest news LIVE: Exit polls predict BJP to win Gujarat, Himachal

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Sri Lanka earns over $1,129 mn this year as revenues through tourism

Sri Lanka's earnings from tourist arrivals stood at well over USD 1,129 million in the first eleven months of this year, the cash-strapped country's central bank has said, an impressive surge buoyed by the resumption in international flights and easing of curbs related to the coronavirus. The tourism sector is the main source of foreign exchange earnings in the country. However, the onset of the pandemic in 2020 severely crippled this sector, and one of the major reasons for Sri Lanka's economic travails. Sri Lanka welcomed 59,759 tourists to the country in November, an impressive 42 per cent rise compared to the previous month, the Central Bank of Sri Lanka said in a statement on Sunday. Consequently, the island nation's earnings from international tourist arrivals for November touched USD 107.5 billion, with the cumulative tally in the first ten months of the year notching up to a whopping USD 1129.4 million, it said. In October this year, the country had earned USD 75.6 million

Int'l students contribute 5 bn euros a year to French economy: Survey

The survey identifies five main sources of funding for students, with family support at the top of the list, reports Xinhua news agency

Centre likely to raise authorised fund in NSFDC by Rs 1,000 crore

The Department of Social Justice, the nodal authority, has floated a draft cabinet note for inter-ministerial consultation

German economy sees unexpected growth in 3rd quarter; inflation up

The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. But the immediate outlook for Europe's biggest economy remained gloomy, with inflation rising again in October. Gross domestic product expanded by 0.3% in the July-September period compared with the previous quarter, the Federal Statistical Office said. That followed a slight increase of 0.1% in the second quarter. The German economy managed to hold its ground despite difficult framework conditions of the global economy, with the continuing COVID-19 pandemic, supply chain interruptions, rising prices and the war in Ukraine, the statistics office said. The government said earlier this month that GDP was believed to have shrunk in the third quarter and was expected to decline again in the last three months of the year as well as the first three months of 2023 before beginning to recover. Two consecutive quarters of negative growth i

As RBI spreads out Fx interventions, forward premium hits 11-year lows

The central bank looks to protect headline reserves, deter offshore/onshore arbitrage on Rs with buy-sell swaps in forex market

A big step towards 'ease of living': PM Modi opens 75 digital banking units

The DBUs will help banks that are now looking to reduce their physical footprint with fewer brick-and-mortar branches, with a 'light' banking approach.

India may not be able to completely avoid impact of global recession

Lower global commodity prices to help the economic growth

Citigroup sets India as high priority market amid rising China risks

The nation saw a record $82 billion in merger and acquisition deals in the second quarter, defying a slump elsewhere

ADB cuts FY23 GDP forecast for India to 7% citing sluggish global demand

Earlier forecast was 7.2%; institution says high inflation is another growth hurdle, cut FY24 forecast to 7.2% from 7.8%

Infra lending gains traction, but may see gradual growth going forward

Lenders are waiting for clear demand patterns to emerge and policy stability, say analysts

Thailand looks to lavish Indian weddings to boost tourism revenue

Thailand hopes to boost its tourism revenue to between 600 billion-700 billion baht by year-end, by targeting high-spending groups like Indian wedding parties and honeymooners

State of the Indian economy: Unequal, uneven distribution of wealth

The income gap between states is growing and the pain of inflation is worse for those falling behind

Job creation, reduced inequality should be key targets for India: Report

Study says growth in prosperity also needs to be environmentally sustainable and must be solid and resilient in the face of external shocks