Cea

Higher tax will drive capital away, says CEA V Anantha Nageswaran

Rejecting the idea of a "billionaire tax" suggested by noted economist Thomas Piketty, Nageswaran said, "Not all problems can be solved through fiat"

India's potential GDP growth is in range of 6.5-7%, says CEA Nageswaran

India's potential GDP growth is in the range of 6.5-7 per cent and the country should be able to achieve it on the back of things that done already in the last 10 years, Chief Economic Advisor V Anantha Nageswaran said on Monday. The Economic Survey projected India's GDP to grow at 6.5-7 per cent in 2024-25, down from a high of 8.2 per cent in the preceding financial year. Addressing IVCA's GreenReturns Summit, he said, "India's potential GDP growth is in the range of 6.5-7 per cent and we should be able to achieve it on the back of things that we have done already in the last 10 yearswhether it is in terms of augmenting the physical infrastructure or achieving financial inclusion." Emphasising the investment areas, he said, "We all know about the issue of intermittency. The investment shouldn't focus on setting up solar power plants or wind energy plants as we need to take into consideration the increasing cost of recycling solar panel waste and wind turbine waste. That is an area

Govt pins growth hopes on Trump keeping crude prices low: CEA Nageswaran

He added that low crude oil prices would be a very important ingredient for India's growth prospects

Q2 GDP numbers disappointing but not alarming, says CEA Nageswaran

He stressed that geopolitical conditions remained fragile and may continue to impact domestic inflation, supply chains, and capital flows

GST Council has turned into a rate-cutting panel: Ex-CEA Arvind Subramanian

'India's GST system remains highly complex. There is a need of simplification'

TOP, precious metals accounted for 1/3rd of Oct inflation: CEA Nageswaran

Premature to say slowdown in urban consumption going to persistent

No place as fascinating, interesting as India on development journey: CEA

He talks about issues ranging from the United States election results and growth in gross domestic product to agriculture and his experience of having a ringside view of the Indian economy

BS BFSI Summit: Free trade effective in theory, not in practice, says CEA

India need not worry about trade battles driven by climate policies, Nageswaran said in his keynote address at the Business Standard BFSI Summit on Friday

Trump win may ensure India's trade security: CEA Nageswaran at BFSI Summit

Chief Economic Adviser to the Government of India V Anantha Nageswaran shared his thoughts on the impact of the US elections on India's growth at the Business Standard BFSI Insight Summit

Govt, pvt sector should think of mid-term AI consequences: CEA Nageswaran

He said that labour should be treated as a resource and asset since it involves humans with emotions

Auto makers must invest in R&D to make world-class industry: CEA Nageswaran

Chief Economic Advisor V Anantha Nageswaran on Tuesday asked automobile manufacturers to invest in R&D in order to make a world-class industry. Speaking at the SIAM Annual Convention, he also asked them to focus on improving the global NCAP (New Car Assessment Programme) ratings of their products so that exports get further push. In general, he said, the Indian private sector roughly contributes about one third of the overall R&D spending in the economy while the remaining two thirds comes from the government. "Again, our studies show that it is not due to lack of government support for R&D spending in general, but it also depends on our ability to think over a much longer horizon...seeing the R&D expenditure as an investment, rather than as an expenditure against the profit and loss account," he said. So in that sense, he said, "enhancing the investment in R&D and becoming global leaders, it will be an important contributor to the 'aatmanirbharta' programme in ...

E-gaming, cryptos add little in terms of social value: CEA Nageswaran

The CEA said that imposing these costs on micro, small, and medium enterprises (MSMEs) before they can stand on their own feet would be counterproductive

India must avoid sway of fin mkts' expectations over macro outcomes: CEA

Speaking at the CII Financing 3.0 Summit in Mumbai, Nageswaran stated that when the financial sector is in excessively robust health, the health of the rest of the economy becomes fragile

Economy in medium term could grow at 7%: CEA V Anantha Nageswaran

CEA cites GDP growth data for Q1FY25, which showed continued pickup in rural consumption

Need frequent data on job creation, says CEA V Anantha Nageswaran

Currently, MoSPI releases labour force data for urban areas in the form of PLFS quarterly, while for rural areas it is brought out annually

Fintech solutions can positively impact income, savings: CEA Nageswaran

Says fintech industry should be aware of the challenges that fintechs may pose to society

Not pessimistic but mindful of challenges: CEA V Anantha Nageswaran

Says that he was upbeat but cautious about the growth prospects of India while projecting a 6.5-7% GDP growth rate for 2024-25

Govt initiatives, growing investment to create more jobs during decade: CEA

Various initiatives from the government and growing investment are going to create more job opportunities during the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday. The last decade of the century was marked by a decline in capital formation in the economy and moderation in credit growth, he said at an event here. "Hopefully, those things are a thing of the past. Non food credit growth is now running close to 20 per cent, balance sheets of companies and banks are in good shape and hiring (is showing improvement)," he said. Quoting 2021-22 data, he said, employment in agriculture declined by 15 lakh, manufacturing and services added 37 lakh jobs each and the construction sector generated 19 lakh jobs, he said. "This trend we hope will continue in the future, as indicated by the robust gross value added growth in manufacturing and construction sectors," he said. Talking about various government initiatives for job creation, Nageswaran said, skill developmen

India's Q3 GDP numbers are 'absolutely mystifying': Arvind Subramanian

Former chief economic adviser Arvind Subramanian on Friday said India's latest GDP numbers are 'absolutely mystifying' and difficult to comprehend. 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. "I want to be honest with you that the latest GDP numbers, I just simply can not understand them. "I say that with genuine respect and things. They are absolutely mystifying. They don't add up. I don't know what they mean," Subramanian said while speaking at the India Today conclave. The NSO has also revised GDP estimates for the first and second quarters of this fiscal to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively. Elaborating further, Subramanian said while the implied inflation in these numbers is 1 to 1.5 per cent, actual inflation in the economy is somewhere between 3 and 5 per cent. "The economy is growing at seven and a half per cent, even though private consum

FY24 GDP growth to be closer to 8% on higher activity in industry: CEA

India's real GDP growth in FY24 will be "closer" to 8 per cent on higher activity in industry and services verticals, Chief Economic Advisor V Anantha Nageswaran said on Tuesday. Addressing a conference organised by ARIA (Association of Registered Investment Advisors) virtually, Nageswaran said the growth will be higher than the Ministry of Statistics' estimate of 7.6 per cent, and added that there is much reason to be optimistic in the near term about the prospects in India. "...unless the Q4 GDP numbers fall very significantly from the momentum that we have seen in the first three quarters, the GDP will be closer to 8 per cent rather than 7.6 per cent as the Ministry of Statistics is currently estimating," Nageswaran said. However, he stressed on the need to put heads down and work towards the goal without "succumbing to triumphalism and exuberance". "As a country, we should realize that we are in it for the longer haul, not for the short term," he said, adding that the ...