Page 2 - Economy

Andhra Pradesh govt presents Rs 2.9 trn budget; see all major allocations

The estimated revenue deficit stands at Rs 34,743 crore (2.12 per cent of the GSDP), while the fiscal deficit is estimated at Rs 68,743 crore (4.19 per cent of the GSDP)

BFSI Summit 2024 highlights: RBI's caution against unsecured lending is appropriate, says KV Kamath

Business Standard BFSI Summit highlights: Catch all the updates related to the BFSI summit here

Pakistan's national carrier stake sale now uncertain after low offer

Pakistan's government has failed to privatize the airline in previous attempts because of protests by labor unions and political parties

Guruji student credit card scheme fails to take off in Jharkhand

Under the scheme, a loan of up to Rs 15 lakh will be given at an interest rate of only 4 per cent with a condition to repay in 15 years

RBI's upbeat growth estimates create confusion, concern among economists

The central bank has stuck to its forecast that India's economy will expand 7.2 per cent in the year ending March 2025

What's driving complacency in global markets?

The world is beset with risks - political, geo-political, fiscal and monetary. But markets choose to look the other way, either being blissfully oblivious or wantonly negligent

Canada's economy won't take a hit from immigration curb, says minister

The Canadian government on Thursday set targets to lower admissions across all key immigrant groups starting in 2025

Core inflation in Japan's capital slips below BOJ's target in October

BOJ Governor Kazuo Ueda has said the bank will keep raising rates if inflation remains on track to stably hit 2 per cent as it projects

Scenarios for India's future: How planning can shape growth and inclusion

Scenario planning, having being successfully implemented in businesses, has tremendous potential for shaping India's future

Pakistan's FM Aurangzeb sees 'encouraging' reply from China debt talks

Pakistan is seeing a period of stability after securing a new $7 billion loan program from the IMF

Indian economy to grow 7-7.2% in FY25 on strong govt spending: Deloitte

The Indian economy could grow between 7-7.2 per cent in the current fiscal on strong government spending, and higher manufacturing investments, but a tempered global growth will impact the outlook for the next fiscal, Deloitte India said on Tuesday. In its 'India Economy Outlook for October 2024', Deloitte said the thriving manufacturing sector, stable oil prices, and potential US monetary easing post-elections may boost India's capital inflows, reduce production costs, and enhance long-term investments and job opportunities. The economy grew 6.7 per cent year-over-year in the April-to-June quarter of the current fiscal ending March 2025. Although this marks the slowest growth in five quarters, India ranks among the fastest-growing major economies globally. Deloitte India retains its annual GDP growth projection to be between 7 per cent and 7.2 per cent in FY 2024-2025 and between 6.5 per cent and 6.8 per cent the following year, it said in a statement. India's central bank RBI had

As weak economies' default wave peaks, cash shortage may take its place

The U.S. Treasury's top economic diplomat has called for new ways to provide short-term liquidity support to low- and middle-income countries to head off debt crises

Karnataka registered a robust 10.2% GSDP growth in 2023-24: MoSPI

Karnataka has registered a robust GSDP growth of 10.2 per cent in 2023-24, the state government said on Monday. Citing a data from the Ministry of Statistics and Programme Implementation (MoSPI), the government said in a statement that the state has significantly surpassed the national average of 8.2 per cent. "Initially, the National Statistical Estimate (NSE) had projected a modest 4 per cent GSDP growth for Karnataka, but this was revised to 13.1 per cent by the end of the fiscal year, indicating early underestimation of the state's economic performance," the statement read. The government pointed out that this feat was achieved despite severe challenges, including the worst drought in a decade and a slowdown in global IT markets. The state's agriculture sector faced negative growth due to drought conditions, while Karnataka's dependence on the IT and hardware sectorsaccounting for 28 per cent of its Gross State Value Added (GSVA)made it vulnerable to global economic downturns,

China's defence budget soars, can India match up with its military might?

As China's military spending surges, the balance of power in the Indo-Pacific has shifted. This has significant implications for India's defence strategy, highlighting the urgent need for an overhaul

Iraq's Kurdish region votes amid flagging economy, political infighting

Residents of Iraq's semi-autonomous northern Kurdish region went to the polls in long-awaited parliamentary elections Sunday under the shadow of ongoing rivalries, economic instability, and unresolved disputes with Baghdad. The primary competitors are the two dominant Kurdish parties: the Kurdistan Democratic Party and the Patriotic Union of Kurdistan. Historically, these two parties have controlled different parts of the region, with the KDP overseeing Irbil and Dohuk, and the PUK governing Sulaymaniyah. This division has frequently led to political deadlock. The parliamentary elections, originally set for 2022, were postponed several times amid disputes over the election law and procedures. Ministry of Interior personnel and peshmerga forces the regional military voted in special elections Friday, with the general public voting Sunday. In Friday's special election, the KDP secured a significant lead, capturing 60 per cent of the votes, while the PUK got around 30 per cent. The

BIMARU in education: 5 states struggling to send people to school

Causes for disengagement include financial constraints, parental unwillingness

Six out of 10 Canadians feel there's 'too much immigration' in country

The poll reflects further erosion of public support for immigration, with the proportion of Canadians opposing the volume of new arrivals surging for the second straight year

Survivors grapple with aid cuts, Taliban a year after massive Afghan quake

People had just seconds to flee their homes when the terrifying sound of earth cracking open reverberated across western Afghanistan's Herat province. Nobody knows for sure how many people died in a 6.3 magnitude earthquake on Oct 7, 2023, or in the strong aftershocks that followed. The Taliban government estimated that at least 4,000 perished. The UN gave a far lower figure of about 1,500. Survivors stopped counting, exhausted after digging through dirt to save their loved ones or bury them. It was the deadliest natural disaster to strike Afghanistan in recent memory. It was also another major challenge for the Taliban since they seized power in 2021, a test of their readiness to lead a country beset by economic hardship, isolation, devastation from decades of war, and vulnerability to shocks like earthquakes and climate change. At that time, the government really cooperated in transporting patients and the dead, said Ismatullah Rahmani, from the quake's epicenter in Zinda Jan ...

Macron holds pitch meeting with Wall Street as budget worries mount

Macron spoke about the likelihood of increasing taxes to fund the country's budget, and was also candid about France's economic challenges

Unstable markets, uncertainty require vigilance: BOJ Governor Ueda

Prime Minister Shigeru Ishiba on Tuesday urged the BOJ to maintain loose monetary policy, as the government strives to end economic stagnation