Page 8 - Indian Economy

MGNREGA participation dipped in first 6 months this FY compared to last

The analysis showed that while 8.5 million workers were deleted, only 4.5 million workers were added to the list of registered MGNREGA workers, thus taking the net deletion to 3.9 million

India saw steepest surge in greenhouse emission in 2023, says report

The UNEP report reveals a technical potential to cut emission by up to 31 gigatons of CO₂ equivalent in 2030, representing about 52 per cent of the 2023 emission and up to 41 gigatons by 2035

HSBC flash India composite PMI rises to 58.6 in Oct; job creation improves

Index has been above the 50-level separating growth from contraction for 39 consecutive months

India Inc Q2FY25 revenue growth seen at 5-7%, slowest in 4 yrs: CRISIL

The analysis shared by CRISIL is based on 435 companies that account for almost half of the listed market capitalisation, which reported an 8.3 per cent growth in the April-June quarter

Rising passive incomes: Companies favour financial investments over assets

A shift in focus towards private investment is required to sustain the growth momentum. This should be a concern for policymakers

India seen as growth engine for German investments in Asia-Pacific: Survey

AHK World Business Outlook, which surveyed around 820 members in Asia-Pacific and Greater China region, shows that 51 per cent of German companies based in India intend to increase their investments

India wants to enhance its influence over other countries: FM Sitharaman

While participating in discussion on 'Bretton Woods Institutions at 80: Priorities for Next Decade', FM stated that no country, whether US which is far or China which is very close cannot ignore India

Major port cargo rises 6% in September at 65 million metric tonnes

The previous month saw a near 9 per cent increase in export-import (Exim) cargo and a 1.9 per cent fall in coastal cargo

Modi, Xi discuss Ladakh border dispute, agree to advance peace efforts

Bilateral talks reviewed from strategic and long term perspective, officials to take talks forward

Can't accept FDI blindly, need safeguards, says FM Nirmala Sitharaman

Sitharaman said that to achieve the rate of growth India is aiming for, the country may need $100 billion to meet investment requirements, whereas the current figure stands between $70-80 billion

Improvement in India, China ties may not alter trade relations: GTRI

The improvement in diplomatic relations between India and China is unlikely to dramatically alter the economic and trade ties between the countries in the near future, think tank GTRI said on Wednesday. It said that India's low exports and high reliance on Chinese imports, especially in industrial sectors, are due to structural issues and it will require long-term policy efforts to address the trade imbalance. India and China have firmed up an agreement on patrolling by their military along the Line of Actual Control (LAC) in eastern Ladakh, in a major breakthrough to end the over four-year standoff. Prime Minister Narendra Modi and Chinese President Xi Jinping held bilateral talks on Wednesday on the margins of the BRICS summit in Russia, in their first structured meeting since the eastern Ladakh border row erupted in 2020. "The recent meeting between Modi and Xi may signal a diplomatic breakthrough, but it is unlikely to dramatically alter the economic and trade dynamics between

India remains world's largest growing economy with good fundamentals: IMF

India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country's macroeconomic fundamentals are good. "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests. Inflation is expected to decline to 4.4 per cent in FY24-25, despite some volatility as food prices normalize," Krishna Srinivasan, Director for the IMF Asia Pacific Department, told PTI in an interview on Tuesday. In terms of other fundamentals, he said, "despite elections, the fiscal consolidation remains on track. Reserve position is pretty good. Macro fundamentals, generally speaking, for India are good". He suggested that the country's reform priorities post-elections need to be in three areas. "One is, there's an issue about creating jobs in India and so on. In that context, I think implementing the .

IMF retains India's GDP growth forecast at 7% for FY25, 6.5% for FY26

For India, the October outlook projects a headline inflation figure of 4.4 per cent for FY25 and 4.1 per cent for FY26

Before announcing a big programme, govt should test it: Iqbal Dhaliwal

Dhaliwal spoke about evidence-based policymaking in India, and universal basic income, among other things

India on track for 8% growth after FY26, says RBI Deputy Governor Patra

Headline inflation likely to remain on track throughout 2025-26

India's attempts fail against rivals as US diverts trade from China: Study

India also hasn't been able to attract a greater portion of global foreign direct investment, even as FDI flows to China plummet, the Oxford Economics study said

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

PM Gati Shakti: A milestone in India's infrastructure development

The achievements of PM Gati Shakti reflect its success in addressing critical infrastructure gaps and streamlining execution across sectors

India well positioned to capitalise on growth opportunities: FM Sitharaman

The global economic environment may present challenges but India is well positioned to capitalise on new growth opportunities, Finance Minister Nirmala Sitharaman has said, underlining that as nations re-evaluate their supply chains, India hopes to become a key partner for many countries seeking to diversify their sources of goods and services. Sitharaman made these remarks on Monday while delivering a special lecture on India's Economic Resilience and Prospects Amidst A Challenging and Uncertain Global Environment' at Columbia University here. She said that India is looking towards boosting domestic capacities, and building resilience against external shocks. While the past decades saw global growth led by broad multilateral trade, the coming years, I think, will likely be defined by strategic economic partnerships and India is very well poised to take advantage of this transition. She said that the global economic environment may present challenges, but India is well positioned t

MoUs worth Rs 15 trn signed ahead of Rising Rajasthan Summit: CM Bhajanlal

Chief Minister Bhajanlal Sharma on Monday slammed the Congress and said that MoUs worth Rs 15 lakh crore have already been signed for investment, two months before the Rising Rajasthan Summit. Addressing the welcome ceremony organised by the Joint Valmini Workers Union, he said, "Today I was listening to the Congress press conference, they were saying that the chief minister is going abroad and he has not brought a single penny. Will anyone bring the money in a sack or a bag?" Sharma said, "MoUs worth Rs 15 lakh crore have been signed, can't you (Congress) see them? What a huge amount of work has been done and there are still two months left for the Rising Rajasthan Summit." He said that the sanitation workers have an important role in building the nation. They make an important contribution to creating a clean and healthy environment by protecting people from diseases and dirt. He said that the safety, respect and welfare of sanitation workers is the priority and responsibility of