Page 7 - Indian Economy

Sitharaman meets Asian Development Bank President, lauds support to India

Nirmala Sitharaman met ADB President Masatsugu Asakawa and acknowledged the swift response and support provided by the institution to all its developing member countries

Indian economy likely to grow at 5.9% in FY24, says India Ratings

The rating agency expects the average retail and wholesale inflation to be at 5.4 per cent and 1.1 per cent, respectively

Salaried employment rises in Gujarat

This upward trend in salaried employment is certainly a cheery outcome for Gujarat as it suggests an improvement in the quality of jobs in the state

G-20: India taps soft power as it backs issues important to Global South

India is one of the fastest-expanding economies at a time of sluggish growth around the globe, luring companies like Apple Inc. to expand

Budget and the growth process

The government's command over household savings needs to be reduced for stimulating demand and private credit

Centre appoints B Subrahmanyam as NITI Aayog CEO; lyer moves to World Bank

Subrahmanyam earlier served as the chief secretary of Jammu and Kashmir and played a key role in the state's bureaucracy

Moderation in India's trade deficit could be transitory: Acuite Ratings

Acuite Ratings in a report maintaining the trade deficit at $106 billion or 3.1 per cent of gross domestic product (GDP) for FY23

Top headlines: Adani maps comeback strategy, Economic activity cools in Jan

Business Standard brings you the top headlines at this hour

India's economy to grow at 6% in 2023-24: Former NITI Aayog VC Rajiv Kumar

India is likely to clock 6 per cent growth rate next fiscal and the country can persevere with a high growth rate because of several reforms undertaken during the last eight years by the Narendra Modi government, former Niti Aayog Vice Chairman Rajiv Kumar said on Sunday. Kumar further said major risks going forward will emerge from a synchronized downturn in the North American and European economies. "India has a good opportunity to persevere with a high growth rate because of the reforms undertaken during the last eight years. We will manage to grow at 6 per cent in 2023-24," he told PTI in an interview. According to Kumar, there are several downside risks, especially in the context of an uncertain global situation. "These will have to be tackled through careful policy measures designed to support our export efforts and at the same time improve the flow of private investment both from domestic sources as well as from foreign sources," he said. The Reserve Bank has projected Indi

LIVE: Delhi LG gives nod to convene House, hold mayoral poll on Feb 22

"Recommended MCD mayor elections to be held on 22 Feb," Kejriwal said in a tweet earlier in the day. Stay tuned for latest updates

CEPA: India's non-oil exports to UAE rise 5% during June-January

India exported goods worth $285.9 billion during the June-January period, up 3.1%

We've reimagined infrastructure as one large plan, says PM Narendra Modi

PM Modi said that the government is working to uplift people alongside building infrastructure

Budget's focus on capex to crowd-in pvt investment, push growth to 7%: RBI

The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 per cent in the next financial year beginning April 1, said a Reserve Bank article on 'State of the Economy'. In 2023-24, capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world. "In our view, the instrument of decoupling will be the Union Budget by raising India's growth prospects over the period 2023-27; and raising India's potential growth," said the article 'State of the Economy' published in the RBI's February 2023 Bulletin. It further said the Union Budget's tax, capex and fiscal consolidation proposals can take India's real GDP growth close to 7 per cent in 2023-24 if they are effectively implemented. "The Union Budget 2023-24's emphasis on capital expenditure is expected to crowd-in ..

India's exports may rise by 3-5% this fiscal to $435 billion: FIEO

India's exports are expected to grow by 3-5 per cent to USD 435-445 billion in this fiscal, exporters' body FIEO said on Friday. In 2021-22, the country's exports touched an all-time high of USD 422 billion. Federation of Indian Export Organisations (FIEO) President A Sakthivel said that the coming months are going to be little challenging unless both global economic growth and geopolitical situation improve drastically. "However, we will be on course to cross the previous year's goods export target quite easily touching almost USD 435-445 billion with a growth of over 3-5 per cent this fiscal," he said in a statement. Contracting for the second month in a row, India's exports dipped by 6.58 per cent to USD 32.91 billion in January due to a slowdown in global demand. Cumulatively, the country's merchandise exports during April-January 2022-23 rose 8.51 per cent to USD 369.25 billion. Sakthivel said that FIEO in its continuous endeavour to handhold and mentor the exporting communi

India's GDP likely to grow at 6.2% in FY24, says Morgan Stanley

Earlier, the Budget for FY24 had projected nominal GDP growth at 10.5 per cent, as the centre increased the capital investment outlay steeply for the third year in a row by 33 per cent to Rs 10 trn

Widening deficit: Worries persist over FY24 current account balance

CAD may be better than expected in FY23, but India won't be completely out of the woods next year, says official

Exports: As services catch up with goods, should India's focus shift?

The country would need push forward on both for medium-term sustainability, say economists

STRI: India rises on OECD index, still ranks fourth from the bottom

The 2022 STRI reflects restrictions that apply on key strategic services sectors such as rail freight transport, legal services and accounting, OECD said

Trade watch: Low demand for goods from China, others sinks imports

Import from India's key crude oil suppliers -- Saudi Arabia and Iraq -- contracted 14.3 per cent and 11.2 per cent, respectively

Tapping global trade

Exports will need policy support