Page 17 - Indian Economy

IMF bullish on Indian economy despite signals of global downturn

IMF has shown optimism about the Indian economy, suggesting that real GDP is expected to grow at 6.8 per cent in the current fiscal while in 2023-24 it is estimated to grow at 6.1 per cent

India's GDP likely to grow 7% in FY23: NSO's first advance estimates

The RBI and the World Bank have projected 6.8 per cent and 6.9 per cent GDP growth respectively for FY23

India's GDP growth estimates may be revised by one percentage point

The average variation in growth may be as high as a percentage point over the last six years

Indian economy in a relative 'bright spot', must leverage exports: IMF

India's headline inflation moderated to an 11-month low 5.88% in November from 6.77% the month before

GDP for FY23 calls for guarded optimism

According to the Advance Estimate released by the statistics and programme implementation ministry, the Indian economy has grown by 7 per cent in FY23

How sustained 6.5% growth for the rest of the decade can be realistic

Growth beyond 6% can happen, but there are constraints on both fiscal and monetary policy, which must focus on reducing the current account deficit, the fiscal deficit and inflation, writes T N Ninan

Indian GDP pegged to grow at 7% in FY23: NSO's advance estimates

The output of the manufacturing sector is estimated to decelerate to 1.6 per cent as against a growth of 9.9 per cent in FY22

India's FY24 growth to dip to 5.5% from 6.8% in FY23, says HSBC economist

India's economy is expected to grow 5.5% in the next financial year, a notch below the expected potential rate of 6%, as growth momentum in the country was slowing gradually, an economist at HSBC said

Banks, FIs must design project-based products to meet NIP target: DFS secy

Banks and financial institutions need to design products in sync with requirements of infra projects in view of the whopping Rs 111 lakh crore National Infrastructure Pipeline (NIP), Financial Services Secretary Vivek Joshi said on Thursday. Observing that the infrastructure sector has strong backward and forward linkages with the robust multiplier effect across the sectors, he said, NIP along with other initiatives like Make in India, Production-Linked Incentive scheme is poised to catapult India to a USD 5 trillion economy. Under the aegis of PM Gatishakti portal, he said, NIP projects with a total outlay of Rs 111 lakh crore are being monitored. The NIP, which started with 6,800 projects, has now expanded to over 9,000 projects covering 34 infrastructure sub-sectors. While 44 per cent of investment is funded through the central and state budgets, banks, financial institutions and Development Finance Institutions (DFIs) are expected to play a crucial role in financing of these ...

Age of celebration of technology for technology's sake is over: Nadella

Suggesting that the age of celebration of technology for technology's sake is over, Microsoft Chairman and CEO Satya Nadella on Thursday said it is now about technology and its use for everyone in the world, where India can contribute immensely. Speaking at the 'Microsoft Future Ready Technology Summit' here, he also highlighted the "magic" of government programmes and India Stack co-evolving in the country. "I had a chance to have a brief conversation with the Prime Minister yesterday, his vision and all the programmes, the yojanas and the India Stack. In fact the thing I'm realising is the magic of India Stack, because everything needs feedback. The yojanas or the policy and the technology stack co-evolving, that's just like a virtuous cycle that is unlike anything I have seen and it's just tremendous," Nadella said. He said, "I absolutely think both of these are perhaps the greatest contributions that India can make to the world quite frankly. When I think about it, the idea that

Dec services PMI at a 6-month high, thanks to stronger inflow of new biz

The headline figure has now been in the expansion zone for seventeen consecutive months since August 2021

Citigroup cuts India's current account deficit forecast to below 3% of GDP

Net exports of services rose 35% to $34.5 billion in the second quarter of the current fiscal

In 2047, India's GDP will be approaching close to $20 trn: Bibek Debroy

He said that basic necessities have been provided to the people and more so in the rural areas by the government

Expenditure rationalisation may be underlying theme of Budget 2023

The budget for the financial year 2023-24 (FY24) could be about controlling non-essential expenditure

G20 to be tourism ministry's focus in 2023, first meet likely in late Jan

From showcasing Incredible India visiting delegates to positioning the country as a major travel destination during its year-long presidency, G20 will be the Union Tourism ministry's focus area in 2023. India assumed the presidency of the influential bloc on December 1, setting the tone for the ministry's calendar this year. More than 200 meetings will be held across 55 locations, culminating with the annual G20 summit on September 9-10. The Tourism ministry is geared up to put its best foot forward and showcase to the guests from different countries the cultural heritage and culinary delights of India. The first G20 meeting -- the Sherpa meet -- was held in the first week of December in Rajasthan's Udaipur. From artistic murals to decking up of heritage sites with lights, the old city played the perfect host as iconic buildings were chosen as venues, besides sightseeing to Kumbhalgarh Fort -- a UNESCO World Heritage Site. Preparations for the G20 meetings are underway and the fi

Top Headlines: India ups windfall tax on crude, 6.5% growth likely in FY24

Business Standard brings you the top headlines at this hour

Dec manufacturing PMI at 26-month high of 57.8 as production picks up

Growth in new orders and output enable factories to end 2022 on a strong note: Survey

6.5% growth plausible in FY24, says EAC-PM chairman Bibek Debroy

'Global headwinds apart, there is consensus that the Indian economy this year (FY23) will grow 6.8-7 per cent'

Indian economy likely to navigate rough global weather in 2023: Assocham

India's economy is expected to navigate rough global weather in 2023 due to resilient consumer demand, better corporate performance and abating of inflation, even as the year is likely to be full of challenges and opportunities, Assocham said on Monday. "While the global outlook seems rather tough, the Indian economy is set to stay on steady ground, helped by strong domestic demand, a healthy financial sector and improved corporate balance sheets. Early signs of brighter prospects of Rabi crops point towards a robust performance of agriculture, leaving an improved second round effect for several connected industries like FMCG, tractors, two-wheelers, speciality chemicals and fertilisers," Assocham Secretary General Deepak Sood stated. While there is an overwhelming consumer response to contact services like travel, hotels and transport, a positive domino effect is visible in transport, housing, power, electronics, discretionary consumer goods and automobiles, he added. "Our domestic

Indian economy poised for further growth despite global headwinds: Analysts

The Indian economy recovered from the COVID-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world. India recorded a growth of 9.7 per cent in the first half of 2022-23 (April-September), as against 5.6 per cent in Indonesia, 3.4 per cent in the UK, 3.3 per cent in Mexico, 3.2 per cent in the Euro area, 2.5 per cent in ...