India Spending

Indian overseas spending hits all-time high of $31.7 billion in FY24

The yearly remittance data shows a robust inclination among Indians towards international travel, with expenditures totalling $17 billion in FY24

How spend, spend is giving state-owned companies diminishing returns

The private sector has been going slow in adding fixed assets but squeezing out more

Household savings rate plummeted to five-decade low in 2022-23: RBI

The household savings rate plummeted to a five-decade low in 2022-23 as people started spending after the restrictions on movement ended after the pandemic, the Reserve Bank of India said on Friday. Deputy Governor Michael Patra said the dip in net financial savings of households to 5.1 per cent of the Gross Domestic Product (GDP) in FY23 also includes an increase in liabilities, much of which are home loans that will show as investments in the next year. When asked if the decline in savings to a 47-year-low is indicative of over-leverage among the households, Patra reminded that historically, the average household savings rate was about 7.5 per cent but during the pandemic, it had gone up due to a variety of factors, including inability to spend due to the restrictions and also because of precaution savings. "as these movement restrictions were removed, people went out to spend and started to draw down those precaution savings. That is some of the phenomenon that we're seeing now,"

Being people-centric: Indian govts no slouches when it comes to spending

Percentages can mislead: A higher percentage of a lower GDP per head can translate into less absolute spending per head than a lower percentage of a much greater GDP per capita, notes T N Ninan

Solar power investment set to surpass oil production spending this year

The growth in clean energy spending is driven by technologies including solar panels and electric vehicles that are key to cutting dependence on the use of oil, coal and natural gas

Digital transformation spending in India to reach $85 bn by 2026: Report

The digital transformation (DX) spending in India is likely to reach $85 billion by 2026 as firms in the country aim to reduce the costs by improving customer experience via digital transformation

India may boost rural spending by 50% next year to spur jobs, housing

India may increase rural spending by nearly 50% to 2 trillion rupees ($24.51 billion) next fiscal year, as the country seeks to boost jobs

Why India's labourers can't afford to buy a packet of biscuits for Rs 5

Trouble is, the distribution of the Indian economic pie is more lopsided than the aggregate numbers suggest

India may seek $7.5 billion in extra spending to spur growth: Sources

The additional spending would represent about 2.5 per cent of the total budgeted so far for the current financial year