India Growth

India's economic growth may have slowed in the September quarter, but overall there is not much downside risk to 6.5-7 per cent growth in the current fiscal year, Economic Affairs Secretary Ajay Seth said on Wednesday. Seth said while some goods and services may not have have grown at the same pace as in the last year in the second quarter of the current fiscal year, data on e-way bills and e-invoices does not indicate any significant downside possibility to the full year 6.5-7 per cent growth projected in the Economic Survey. The secretary also said food prices have been a concern but other than that, inflation is not a challenge for India. On capex, Seth said the government's capital expenditure may see some undershooting of the Rs 11.11 lakh crore in the current fiscal year. But the capex will be higher than Rs 9.5 lakh crore in the last fiscal year. "We started the year with estimates in the economic survey of 6.5-7 per cent growth. I don't see any significant downside risk to

Though several developed economies suffered badly due to the Covid crisis, India continued to grow at 7 to 8 per cent during the last 10 years, Union Minister Dharmendra Pradhan said on Friday. In his keynote address at the Indian School of Business (ISB) here, Pradhan said India is set to surpass Japan and France and become the third largest economy in the world in the next three to four years. "Several developed economies in the world suffered badly due to the Covid crisis. Still, we are thriving with a 7 to 8 per cent growth rate since last decade and we will continue to do that," he said. The Minister of Education said India has a low corporate tax as Prime Minister Narendra Modi is very clear on not getting money to the exchequer by imposing more taxes, but more income in low slabs. He further said 46 per cent of the global digital payments are happening in India even as 25 crore people have been out of the poverty line.

The IMF kept its GDP growth forecasts for India unchanged at 7 per cent for FY25 and 6.5 per cent for FY26 in its World Economic Outlook

Urban demand growth has been trending down for five quarters, data from market research firm Kantar Worldpanel shows. And the sense of unease around this is spreading

Climate change under a high-end emissions scenario could lead to a 16.9 per cent loss in GDP by 2070 across the Asia and Pacific region, with India projected to suffer a 24.7 per cent GDP loss, according to a new report. Rising sea levels and decreasing labour productivity would drive the most significant losses, with lower-income and fragile economies being hit the hardest, it said. The new research, presented in the inaugural issue of ADB's "Asia-Pacific Climate Report", details a series of damaging impacts threatening the region. It says that if the climate crisis continues to accelerate, up to 300 million people in the region could be at risk from coastal inundation, and trillions of dollars' worth of coastal assets could face annual damage by 2070. Climate change has supercharged the devastation from tropical storms, heat waves, and floods in the region, contributing to unprecedented economic challenges and human suffering, said ADB President Masatsugu Asakawa. Urgent, ...

Emphasising India's goal of becoming a developed nation by 2047, President Droupadi Murmu on Wednesday acknowledged the crucial role of the Indian diaspora in achieving this vision while addressing the community members in the Mauritanian capital. The president arrived here earlier in the day on the second leg of her three-nation visit to Africa. It is the first visit to Mauritania by an Indian leader at the highest level since the African nation won independence in 1960. "We are rapidly moving towards our goal of making India a Developed India' by the year 2047, and our diaspora family is a very important factor in this process," Murmu said at a community reception organised here. Expressing gratitude to the host nation, she said, "I express my gratitude to the government and people of Mauritania for always supporting the Indian community." Highlighting the potential for India-Mauritania cooperation, President Murmu noted that India could contribute to Mauritania's development in

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The International Monetary Fund had earlier also raised India's growth forecast to 7 per cent for the financial year 2024-25 (FY25), following the conclusion of general elections in the country

The world is at the cusp of ushering in an India era as the country's growth trajectory moves towards a developed nation status by 2047, leading economist and policymaker N K Singh has said. In his address on being conferred a prestigious Honorary Fellowship at the London School of Economics and Political Science (LSE) on Wednesday evening, the President of the Institute of Economic Growth said he was humbled to be joining the ranks of fellow Indians such as Nobel laureate Professor Amartya Sen and former president K R Narayanan. The renowned university said the honour was in recognition of Singh's long-standing and committed relationship with the LSE and his efforts to facilitate its unique relationship with India as Co-chair of LSE's India Advisory Board. It is a humbling moment for me considering the stature of many of my predecessors. The LSE has been a centre of academic excellence since its inception in 1895. Its connection with India has been an intensive, inquisitive and ...

India slipped two spots at 129th rank in World Economic Forum's Global Gender Gap index 2024. While India's economic parity score has been improving, it's 6.2 percentage points below 2012 level of 46%

L&T Switchgear, the electrical and automation arm of L&T, which Schneider Electric acquired in 2020, is rebranded as Lauritz Knudsen

The survey also noted that amid reports of higher labour and material costs, input prices across the private sector rose at the fastest pace in nine months

Linde Plc, Siemens, and GE are three such entities that have made changes to their global business structures in the past few years

He urged investors to grab the opportunity India's rapid growth offers

Observing that headline inflation substantially eased from the elevated level seen in the summer of 2022, Das said price momentum was easing across core goods and services

Infosys cuts growth guidance as net drops 7.3%; TCS profit up 2%

According to a statement, the growth in real GDP during 2023-24 is estimated at 7.3 per cent compared to 7.2 per cent in 2022-23

Former RBI governor Raghuram Rajan, who has often been trolled for his frank views, says ideas and opinions of critics should be attacked but not their motives, as for India's progress listening was more important than preaching like a know-all vishwa guru. In an interview with PTI, Rajan defended joining Congress leader Rahul Gandhi's 'Bharat Jodo Yatra' saying he very strongly believed in the ideas of national integration and of love, not hate and thought the 135-day foot march was an attempt to make that point. Rejecting as "just ridiculous" the charge by government backers that he was responsible for some of the mess in the economy that Prime Minister Narendra Modi inherited, he said he had brought down inflation from double digits and had cleaned up the bad debt which the government is taking credit for now. He also stuck to his comment -- 'India will be lucky if it achieves 5 per cent growth in 2023-24 fiscal year', saying the country was indeed lucky to achieve a 6.5 per cent

Prime Minister Narendra Modi Sunday mocked the Congress' slogan of 'garibi hatao' (remove poverty) and said the poor feel empowered and confident when they get a pucca house and gas cylinders for their homes. A poor now says that the day he got a gas cylinder stove in his house the difference between then rich and the poor ended for him, Modi said, addressing the Viksit Bharat Sankalp Yatra here. He termed the yatra his own "examination" and a feedback mechanism to learn directly from people if welfare schemes meant for them is reaching them. "The Viksit Bharat Sankalp Yatra is in a way my 'kasauti' (test) also,' Modi said. "It is my examination... whether whatever I had said and whatever I am doing, I want to hear from you and from the entire country whether it has happened in the right proportion. Whether it has been done for the person for whom it was intended to, and whether the work which was to be done, has happened or not." Referring to former prime minister Indira Gandhi's

India will become the world's third largest economy in the next four-five years leaving behind Germany and Japan, but to achieve that the citizens of the country must remain healthy, Vice President Jagdeep Dhankhar said on Sunday. Addressing the inaugural function of the two-day 'Atal Swasthya Mela' here, Dhankhar also fondly remembered former prime minister Atal Bihari Vajpayee, saying he remained firm on principles and handled sensitive issues with care. Talking about the country's progress, Dhankhar said India's economy has overtaken those of Canada, France and the UK. "Today, we are the fifth superpower in the world in terms of economy. In the coming four-five years, Japan and Germany will also be behind us, and India is going to be the third largest (economic) superpower in the world!" he said. "For all this, it is necessary that we remain healthy. No matter how much talent, ability and skill you have, if you are not healthy you will not be able to do anything," he said. He s