IMF Report On Indian Economy

We broadly concur with the Survey's assessment of a pick-up in rural demand on the back of improved crop output, disinflation, and an uptick in domestic investment activity

IMF Asia Pacific Department Director Krishna Srinivasan suggested that India's reform priorities should be in three areas: Jobs, existing trade barriers, and infrastructure sector

Centre and states capex now at Rs 19 trillion, cornered by infra

The Proceeds of Crime Act (POCA) will allow for the judicial freezing and forfeiture of proceeds of crime and establishes a new authority to manage such seized assets

IMF officials urged Asian central banks to stick to their own knitting and avoid the temptation to lash their policy decisions too closely to anticipated moves by the Fed

For the demographic dividend to be reaped, India has to invest a lot in education and health

Despite a challenging global scenario, India's economy has shown robust growth over the past year backed by sustained consumption and investment demand, a top Indian official told members of a World Bank committee here. The GDP growth estimate for the fiscal, which has been revised upwards from 7.3 per cent to 7.6 per cent in the second advance estimates, highlights the enduring strength and resilience of the Indian economy, India's Economic Affairs Secretary Ajay Seth said while addressing the Development Committee meeting here on Thursday. India grew above 8 per cent for three consecutive quarters of FY24, reaffirming its position as a standout performer amidst sluggish global growth trends, Seth said. He said that similar sentiments have been echoed by various agencies who have revised India's fiscal 24 growth estimate closer to 8 per cent. India's proactive stance on reform and investment in sustainable growth avenues sets a benchmark for emerging economies. The Indian delegati

India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 -- the fastest pace in one-and-half years

Country's ambition of rapid economic growth must balance with its climate change commitments, they say at Business Standard summit

Indian economy can grow at 8 per cent till 2047, if the country can redouble the good policies that it has implemented over the last 10 years and accelerate reforms, India's executive director at International Monetary Fund (IMF) Krishnamurthy Venkata Subramanian said on Thursday. Subramanian further said that clearly 8 per cent growth target is ambitious, because India has not grown consistently at 8 per cent before, but it is achievable. "So, the basic idea is that with the kind of growth that India has registered in the last 10 years, if we can redouble the good policies that we have implemented over the last 10 years and accelerate the reforms, then India can grow at 8 per cent from here on till 2047," he said at the Times Now Summit. India's economy grew at better-than-expected 8.4 per cent in the final three months of 2023, logging the fastest pace in the past one-and-a-half years. The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per

India's macroeconomic stability is impressive compared to many of its peers

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An eminent Indian-American radiation oncologist on Wednesday applauded India's budget announcement for vaccination of girls between nine and 14 against cervical cancer. "The budget's emphasis on preventive programs for cervical cancer is a commendable step towards addressing a critical public health issue in India. The initiative to vaccinate girls aged 9-14 against cervical cancer is particularly praiseworthy, as this disease claims the lives of over 150 women daily in the country," Dr Dattatreyudu Nori told PTI. A recipient of Padma Shri in 2015 for his contributions in the field of medicine, Dr Nori said cervical cancer ranks as the second most common cancer among women in India, with more than 85,000 new cases diagnosed annually and approximately 50,000 deaths reported each year. The incidence of cancer cases is projected to rise from 1.46 million in 2022 to 1.57 million in 2025. This increase is attributed to advancements in cancer diagnostics, improved data capture, and ongoin

The Indian economy is expected to grow at an average rate of 6.7 per cent per annum until the end of the decade, CRISIL said in its latest report. The economy will grow at this rate between the financial years 2024 to 2031, a notch above the pre-pandemic average of 6.6 per cent. According to CRISIL, the key contributor to this trend will be capital. This is a result of the investment-driven strategy of the government when the private sector was shy of making investments. The government increased capital expenditure significantly to support building expenditure and providing interest-free loans to states to bolster their own investment efforts, the report said. CRISIL said that after a robust 7.3 per cent growth this fiscal, there will be moderation to 6.4 per cent in the next financial year. There is also a need to monitor the impact of the escalation of the Middle East conflict on energy and logistics costs, it said. In India, the inflation level of 5.7 per cent in December 202

With inflationary pressures "receding rapidly," prospects for a soft landing were improving in Asia, he said

Despite the challenges due to persistent funding winter, Indian startups received $8.4 billion in funds from domestic and global investors in 2023

Union minister Hardeep Singh Puri on Tuesday asserted that India can become a five trillion dollar economy much before 2028 and said the country's energy transition needs to be done in an orderly manner to safeguard the interests of its large population. Puri, the minister for petroleum and natural gas as well as housing and urban affairs, said India is aware of its commitments towards sustainability goals and will meet all the targets in time while meeting the requirements of a growing economy. He was speaking at a CII-EY breakfast session on 'accelerating India's energy transition towards sustainable economic growth' on the sidelines of the World Economic Forum Annual Meeting 2024. "I don't think we need to wait till 2028 to become a five trillion dollar economy, and if you look at what is happening, it should happen much before 2028," he said while listing various macroeconomic parameters. "I also think that the transition has to be orderly because transition by nature has to ha

The International Monetary Fund (IMF) had warned in its report that India's general government debt could exceed 100 per cent of gross domestic product (GDP) in the medium term

India's faster growth compared with China's economic slowdown could see the South Asian nation make a bigger contribution to global growth than its larger rival

Earlier, this month, India hiked the cooking gas subsidy for low income households to 300 rupees per cylinder from 200 rupees announced in August