Indian Economy

The 1972-batch IAS officer spoke highly of the government's production-linked incentive (PLI) scheme but stressed the importance of its long-term evaluation

Indians must work hard to achieve the ambitious target of making India a USD 30 trillion economy by 2047, former Niti Aayog CEO Amitabh Kant has said. Joining the ongoing debate on working hours, India's G20 Sherpa said Japan, South Korea and China have achieved economic success through a strong work ethic and suggested that India must cultivate a similar mindset to build a world-class economy. "I strongly believe in hard work. Indians must work hard, whether it's 80 hours or 90 hours a week. If your ambition is to move from a USD 4 trillion to a USD 30 trillion economy, you can't do it through entertainment or by following the views of some film stars," he said while speaking at Business Standard's Manthan summit. Currently, the size of the Indian economy is around USD 4 trillion. "We have made it fashionable to talk about not working hard. Why? India must work hard to deliver projects ahead of time, with world-class excellence, without time and cost overruns," he added. Respondi

Vice President Jagdeep Dhankhar on Sunday said the country has seen exponential economic upsurge in the last decade and has become the fastest growing global economy during this period. The Vice President made the statement while delivering the 4th P Parameswaran Memorial Lecture organised here by the Bharatheeya Vichara Kendra. P Parameswaran was one of the senior-most 'pracharaks' of the Rashtriya Swayamsevak Sangh (RSS) and a former leader of the erstwhile Bharatiya Jana Sangh. Dhankhar said that in 1989 when he was an MP and in 1991 when he was a Union Minister, the "atmosphere did not inspire us". "Now our Bharat is brimming with positivity and possibility. It is full of hope and aspirations. All around and all pervasive, we can see an ecosystem of hope and possibility. In the last decade, Bharat has seen an exponential economic upsurge," he said. He further said that the country was the fifth largest global economy and was "on its way to becoming a USD 4 trillion economy ver

Data released by the Ministry of Statistics and Programme Implementation (Mospi) on Friday showed the economy is expected to grow at 6.5 per cent in FY25, marginally higher than the 6.4 per cent proje

The global churn and India's reset played out on day one of BS thought summit, with the who's who from government, economy, banking, defence coming together

The key infrastructure sectors' output had expanded by 4.8 per cent in December 2024

In actual terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 11,69,542 crore during the April-January 2024-25 period

The report comes just hours before India is set to release gross domestic product figures for the last quarter

The Indian government has already lowered its GDP growth estimate for the current fiscal year through March to 6.4 per cent

In the three months to December, gross domestic product likely expanded by 6.3% from a year earlier, according to a Reuters' poll

Experts discuss India's growth, global trade shifts, climate action, EVs, defence, and more

Flagging US President Donald Trump's push for reciprocal tariffs, the Congress on Thursday said the Modi government must stand up to the "humiliation" and tell its American counterpart that such moves would not be acceptable to India as they would "destroy" the country's economy. At a press conference here, Congress leader Ajoy Kumar played video snippets from French President Emmanuel Macron's meeting with Trump and also Prime Minister Narendra Modi's meeting with the US president to claim that the Indian PM remained "mum" even when the US president was "speaking ill of India". "We have seen French President Emmanuel Macron correcting Trump in conversation and telling him he is wrong. On the other hand, in front of Narendra Modi, Trump kept speaking ill of India. "He keeps calling India a tariff violator, we will impose reciprocal tariffs, but Narendra Modi remained silent," Kumar said at the presser at the AICC office at 24, Akbar Road. Kumar said Modi calls Trump his best friend

The two-day event, coinciding with Business Standard's 50th anniversary year, will bring together some of the most influential voices in government, policy, and industry

This move will free up Rs 40,000 crore capital for banks translating into Rs 4 trillion additional loanable funds

India has to maintain a tax buoyancy in the range of 1.2-1.5 to achieve a growth of 6.5-7 per cent, a EY report said on Wednesday. The report also said that the government may need to strengthen revenue mobilisation, particularly by increasing the tax-to-GDP ratio from the estimated 12 per cent in FY26 (Budget Estimates) to 14 per cent by FY31. India's fiscal strategy must focus on enhancing tax buoyancy, prudent expenditure management, and continued structural reforms to ensure sustainable growth, EY said. "EY India Chief Policy Advisor D K Srivastava said the FY26 budget strategically balances fiscal consolidation with growth imperatives. "However, for India to achieve a medium-term growth trajectory of 6.5-7.0 per cent and realize its Viksit Bharat vision, it must ensure tax buoyancy remains in the 1.2-1.5 range. This would help create the necessary fiscal room to accelerate infrastructure expansion, enhance social sector spending, and maintain fiscal discipline," Srivastava ...

The annual Business Standard summit on February 27-28 will feature prominent speakers, including Finance Minister Nirmala Sitharaman and Uday Kotak, founder & director of Kotak Mahindra Bank

Many young Indians are dabbling in crypto trading to supplement their regular income in the world's most populous country where jobs and pay increases have lagged world-beating economic growth

Das' economic experience will help India at a time when the government and central bank are working in tandem to aid the economy's recovery while trying to manage geopolitical challenges

S&P Global Ratings on Monday said several Asia-Pacific economies could face higher tariffs under the Trump administration, while India, South Korea, and Thailand could be most vulnerable to trade retaliation. In its report titled 'Asia-Pacific Economies Likely To Be Hit By US Trade Tariffs', S&P said economies like Vietnam, Taiwan, Thailand, and South Korea have relatively greater economic exposure to the US, meaning that tariffs, if imposed, would have the largest economic impact. "India and Japan have more domestically oriented economies that will provide some mitigation from tariffs," S&P said. US President Donald Trump has said he will impose reciprocal tariffs on its trading partners, including India. The new US administration has already enacted additional 10 per cent tariffs on imports from China and 25 per cent tariffs on steel and aluminum. "We believe this might not be the end of it. Uncertainty is high because of the high leeway the US administration gives ...

The Centre is working in tandem with all states to make India a USD 30-35 trillion economy by 2047, Union minister Piyush Goyal said on Friday, as he highlighted the investment opportunities in the country. The Commerce and Industry Minister, speaking at the Invest Kerala Global Summit (IKGS) here, sought to woo investors and will soon start talks with Bahrain for a Free Trade Agreement (FTA). There are "unmatched opportunities for growth, development and economic opportunities" in the country, Goyal said. "We are working in tandem with all states," on taking the country's economy to USD 30-35 trillion by 2047 from the current USD 4 trillion, the minister emphasised. There are differences between the BJP-led Centre and the Kerala government, which is headed by the Left Democratic Front (LDF) on various issues. Against this backdrop, Goyal said he is here to show solidarity with Kerala and also mentioned about various strides made by the state in different sectors. He urged invest