State Of Indian Economy

Union Education Minister Dharmendra Pradhan has asserted that India will become a USD 30 trillion-economy by 2047. Delivering a lecture at the concluding function of XLRI-School of Management's year-long platinum jubilee celebration here on Saturday, Pradhan said that India, the fastest-growing global economy, is currently in the fifth position and will bag the third spot in the next three years. "The world didn't even count India on the economic front when XLRI came into being 75 years ago. Today, we are the fastest-growing economy and fifth-largest economy in the world, with a size of US 3 trillion. We will be the third-largest economy in the next three years at USD 5 trillion. Our economy will grow to USD 30 trillion by 2047," he said. "We have to be wealth creators, job creators. We have the potential to create millions of jobs. The world is looking at India for digital public infrastructure... 46 per cent of digital transactions in the world take place in our country. We have .

Indian economy expanded at the slowest pace in almost two years in the September quarter, data showed

Some of country's biggest companies from Maruti Suzuki to consumer bellwether Hindustan Unilever have posted weaker earnings recently, saying urban middle class spending has been languishing

India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday. It said emerging economies have high ambitions for the next decade and beyond with India aiming to become a USD 30 trillion economy by 2047, from the current USD 3.6 trillion. India is currently the fifth largest economy. "India is poised to be the fastest-growing major economy over the next three years and the third largest globally by 2030. Its 2024 entry into JP Morgan's Government Emerging Market Bond Index could provide additional government funding and unlock significant resources in domestic capital markets. This is only a first step --investors will continue looking for improved market access and settlement procedures," S&P said. In its report titled 'Look forward Emerging Markets: A decisive decade', S&P said emerging markets will play .

Experts shared mixed views on the impact of the half-point benchmark rate cut by the US Federal Reserve, as some believe cheaper financing could boost investment flows, others said it could lead to a decline in returns on equity and a rise in gold prices. The US Federal Open Market Committee voted to cut the federal funds rate target range by 50 bps to 4.75-5 per cent, from 5.25-5.50 per cent, against expectations of a cut half that size. The US central bank had kept interest rates at an over two-decade high for 14 months. According to PHDCCI President Sanjeev Agrawal "We expect that the cut in the Federal Reserve rate could lead to a decline in returns on equity and a rise in gold prices". Echoing similar sentiments, Colin Shah, MD at Kama Jewellery, said this scenario must be taken positively, as the rate cut has opened doors for gold to scale new highs shortly, reinstating the might of the yellow metal as an investment haven. Some experts believe the Fed rate cut could lead to

Government's equity dilution in state-owned lenders will be one issue financial market observers will monitor

It will be interesting to see the path the FM opts for in the Budget and how she strikes a balance between the govt's political compulsions and economy's medium-term needs

Citi estimates India will need to create about 12 million jobs a year over the next decade to absorb the number of new entrants to the labor market

Pay is rising faster than in other segments of the economy

The shortages are affecting rural and urban Indians alike, disrupting agriculture and industry, stoking food inflation and risking social unrest

A figure above 50 in the index denotes expansion and that below signifies contraction

A base year is the reference year whose prices are used to calculate the real growth (minus inflation) in national income

World from moving from 'era of data scarcity to abundance', says central bank governor

Most economists expect the government to maintain a broad path of fiscal consolidation

Indian government bonds enter JP Morgan's GBI-EM Index, expected to attract $30 billion in inflows

A level below 1,700 cubic meters indicates water stress, with 1,000 cubic meters being the threshold for water scarcity, according to the govt

Policymakers in New Delhi have their sight on China's factory-to-the-world crown. They are spending $24 billion over five years on production-linked incentives

The MPC last changed rates in February 2023, when the policy rate was hiked to 6.5%

India's benchmark 10-year bond yield saw its biggest surge in eight months following the poll outcome

The final HSBC India Services purchasing managers' index, compiled by S&P Global, fell to 60.2 last month from April's 60.8, confounding a preliminary reading for a rise to 61.4