India’s chance to shed pandemic scars and reach out for the stars
2 years ago

India’s chance to shed pandemic scars and reach out for the stars

Live Mint  

Many of us are stepping into 2023 with some trepidation. We believe two things must go right for India to achieve ‘stronger-for-longer’ growth: macro stability and a continuation of reforms. There are some new high-growth sectors which could raise India’s potential growth in the medium term. And we see India’s green-transition ambitions as an opportunity, spurring investment in emerging sectors like green hydrogen, electric vehicles and solar panels. Think government borrowing at rates which do not crowd out private investment, inflation that doesn’t spiral out of control, and a sustainable trade deficit that keeps the exchange rate stable.

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History of this topic

How the Indian economy fared in 2024, in 9 charts
18 hours, 42 minutes ago

How the Indian economy fared in 2024, in 9 charts

Live Mint  

The year 2024 kept governments across the world on tenterhooks, with more than 60 countries, including India, holding elections, injecting uncertainty about how the outcomes would shape future fiscal, monetary, and trade policies. The Indian economy faced several challenges in 2024, from slowing growth to stubborn inflation to risks associated with personal loan growth. While the fight against inflation made …

Vivek Kaul: India’s GDP growth slump holds lessons in forecasting
1 week, 6 days ago

Vivek Kaul: India’s GDP growth slump holds lessons in forecasting

Live Mint  

India’s growth in gross domestic product, adjusted for inflation, for the period July to September slowed to a seven-quarter low of 5.4%. Or as Zahaan Bharmal writes in The Art of Physics: Eight Elegant Ideas to Make Sense of Everything: “Blithe predictions… cannot be made in a complex system where the impossibility of accurate prediction is inbuilt." Data from the …

India needs to grow at over 7% along with robust fiscal framework to meet Viksit Bharat target: EY India
3 weeks ago

India needs to grow at over 7% along with robust fiscal framework to meet Viksit Bharat target: EY India

Live Mint  

New Delhi, December 2 : A recent report by EY India says enhanced government spending is vital for India's Viksit Bharat vision. It says achieving developed economy status requires 7 per cent plus sustained GDP growth and a robust fiscal framework. This requires a significant increase in the government's total expenditure to 35 per cent of GDP from the current …

Indian Economy to Grow 7.2 Percent in 2024, Moody’s Forecasts
1 month, 1 week ago

Indian Economy to Grow 7.2 Percent in 2024, Moody’s Forecasts

Deccan Chronicle  

New Delhi: Global rating agency Moody’s Ratings on Friday said that the Indian economy is in a sweet spot and projected a 7.2 per cent gross domestic product or GDP growth for India in 2024 with the mix of solid growth and moderating inflation. “Although the central bank shifted its monetary policy stance to neutral while keeping the repo rate …

India in economic sweet spot amid global headwinds: Moody’s
1 month, 1 week ago

India in economic sweet spot amid global headwinds: Moody’s

Live Mint  

New Delhi: India’s economy is in a sweet spot, growing at 7.2% in 2024 with inflation moderating despite a temporary spurt, Moody’s Investors Service India Pvt. According to Moody’s global macro outlook for 2025-26, India’s economy is growing robustly and has the potential to sustain high growth rates as strong private sector financial health reinforces a virtuous economic cycle. Despite …

Budget 2024: Prioritising inclusivity and fiscal prudence
4 months, 4 weeks ago

Budget 2024: Prioritising inclusivity and fiscal prudence

The Hindu  

There was a lot of anticipation before this Budget. As the first major public policy announcement of the new government, it was expected that the Budget would lay down a plan of action for the following five years of the government’s approach towards the larger national vision of Viksit Bharat@2047. With the nine priority areas that followed, she articulated the …

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P
5 months, 2 weeks ago

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

The Hindu  

A sovereign rating upgrade for India in the next 24 months is possible if the central government is able to prudently manage its finances and bring down fiscal deficit to 4% of GDP, an S&P Global Ratings official said on July 3. S&P Global Ratings Director, Sovereign Ratings, YeeFarn Phua, said the trigger for upgrade would be general government deficit …

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025
6 months ago

IMF says India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025

Times of India  

NEW DELHI: The International Monetary Fund has forecast that India's GDP is likely to grow to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025. "In India, the outlook is for GDP growth to moderate from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025, because pent-up demand accumulated during the pandemic has been …

India to remain fastest growing Asia-Pacific economy in 2024, predicts Moody's
6 months, 1 week ago

India to remain fastest growing Asia-Pacific economy in 2024, predicts Moody's

India TV News  

Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. India to remain fastest growing economy: World Bank Earlier this week, a Work Bank report stated that India will remain the fastest-growing major economy recording a steady growth of …

India should bring back fiscal positions to pre-pandemic levels: IMF
6 months, 2 weeks ago

India should bring back fiscal positions to pre-pandemic levels: IMF

Deccan Chronicle  

Chennai: The International Monetary Fund has advised countries, including India, which have elections this year, to begin fiscal consolidation in order to bring fiscal positions back to pre-pandemic levels. When asked about the concern IMF expressed about the governments being tempted to increase public spending during election years in countries, including Mexico and India, Julie Kozack, Director of the Communications …

India's 2024 economic growth projection revised upwards by U.N. to nearly 7%
7 months, 1 week ago

India's 2024 economic growth projection revised upwards by U.N. to nearly 7%

The Hindu  

The United Nations has revised upwards India’s growth projections for 2024, with the country’s economy now forecast to expand by close to 7% this year, mainly driven by strong public investment and resilient private consumption. The World Economic Situation and Prospects as of mid-2024, released Thursday, said, “India’s economy is forecast to expand by 6.9% in 2024 and 6.6% in …

India is the bright spot in sluggish economy
8 months ago

India is the bright spot in sluggish economy

Hindustan Times  

The April edition of IMF’s World Economic Outlook shows that the global economy has done better in the year than how the Fund expected it to do. Policymakers will have to be cautious in dialling back on monetary tightening, and be mindful of the growing national debt burden, especially in advanced countries. All this will have to be done while …

Moody's raises India's 2024 growth forecast to 6.8%
9 months, 2 weeks ago

Moody's raises India's 2024 growth forecast to 6.8%

The Hindu  

Global rating agency Moody's on March 4 raised India's growth forecast for 2024 calendar year to 6.8%, from 6.1% estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. “Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023,” Moody’s Investors Service said. India is …

Economic survey: What’s helping Delhi economy revive after the pandemic?
9 months, 3 weeks ago

Economic survey: What’s helping Delhi economy revive after the pandemic?

Hindustan Times  

The advance estimates of Gross Domestic Product for 2023-24 released with Delhi’s 2023-24 Economic Survey on March 1 show one promising trend. The secondary sector – this comprises manufacturing, electricity, gas, water supply and other utility services, and construction sub-sectors – has contributed ₹ 15.02 lakh crore or 22% to the growth in Delhi’s GVA since 2019-20. The secondary sector …

India’s Q3 GDP bucks all estimates at 8.4% growth
9 months, 3 weeks ago

India’s Q3 GDP bucks all estimates at 8.4% growth

Hindustan Times  

The Indian economy continued to outperform, with GDP growth in the quarter ending December coming in at 8.4%, beating analyst estimates by around 180 basis points or 1.8 percentage points, and the government now expects the economy to grow by 7.6% in 2023-24, up from the 7.3% projected in January. Given the fact that GDP numbers for 2021-22 and 2022-23 …

Budget 2024: Delicate balancing by government testament to stability, growth
10 months, 2 weeks ago

Budget 2024: Delicate balancing by government testament to stability, growth

Live Mint  

Navigating the intricate journey of presenting an interim budget in the lead-up to general elections presents a formidable challenge. This has resulted in a delicate balancing act, culminating in a budget that stands as a testament to stability, growth, and the government's unwavering dedication to inclusive development. The government has taken a bold step by elevating the capital expenditure for …

The march of prudence
10 months, 3 weeks ago

The march of prudence

Live Mint  

They underline fiscal rectitude, continuation of the great Indian build-out and abstinence from a consumption-driven steroidal push. The first advance estimate from the National Statistical Office has pegged India’s gross domestic product growth at a better-than-expected 7.3% for the current fiscal, in line with the strong economic performance reflected in the high-frequency data. In the milieu, budgetary capex is estimated …

Budget 2024: It’s tax buoyancy that shrank the deficit
10 months, 3 weeks ago

Budget 2024: It’s tax buoyancy that shrank the deficit

Live Mint  

A quick glance at the fiscal arithmetic reveals that there is no severe fiscal austerity proposed in the budget. Given nominal GDP growth of 10.5% and aggregate tax revenue growth of 11.5%, the government has met its fiscal deficit target through tax buoyancy, and not through severe public expenditure reduction. As against a 2023-24 Budget Estimate of ₹61,000 crore, the …

Vantage | What India must do to be a $7 trillion economy by 2030
10 months, 3 weeks ago

Vantage | What India must do to be a $7 trillion economy by 2030

Firstpost  

As the Indian government gears up to present the annual budget in what is considered the last one ahead of the general election, the focus is on maintaining stability with an interim budget. In the next three years, India aims to secure its position as the world’s third-largest economy, targeting a GDP of $5 trillion dollars. Projections for India’s growth …

Interim Budget 2024: 4 challenges that government needs to address
10 months, 3 weeks ago

Interim Budget 2024: 4 challenges that government needs to address

India Today  

Finance Minister Nirmala Sitharaman is all set to present the Interim Budget 2024-25 at a time when India's economy is expected to remain one of the fastest-growing economies in the world. An economic review report released by the government said India is poised to register strong growth in FY25, but also outlined several challenges that Nirmala Stiahraman may address in …

India will be $7 trillion economy by 2030
10 months, 3 weeks ago

India will be $7 trillion economy by 2030

Firstpost  

India can aspire to become a $7 trillion economy by 2030, according to “The Indian Economy: A Review” written by V Anantha Nageswaran, Chief Economic Adviser to the government, and his team of economists. Meanwhile, as per National Statistical Office, the Indian economy is estimated to grow 7.3 per cent in 2023-24, while Reserve Bank of India projected a 7 …

Budget 2024: Can India become a $7 trillion economy by 2030?
10 months, 3 weeks ago

Budget 2024: Can India become a $7 trillion economy by 2030?

India Today  

A recent review report released by the government has estimated India's potential economic trajectory, aiming to hit the $7 trillion mark by 2030, ahead of the upcoming Interim Budget 2024-25. "India's unwavering commitment to ensuring steady economic growth is generating resources for investment needed for climate change adaptation, building resilience, and mitigating emissions,' the Finance Ministry report said. The report …

Credibility has been a highlight of India’s budgets
10 months, 3 weeks ago

Credibility has been a highlight of India’s budgets

Live Mint  

As per indications, this is likely to be an interim budget, though there is no constitutional provision to present an interim budget before a general election. Even as the interim budget may be devoid of policy announcements, it is important to look at the budget from the lens of what the government would want to achieve from a fiscal policy …

Indian economy to grow close to 7% in FY25, hit $7 trillion by 2030: FinMin
10 months, 3 weeks ago

Indian economy to grow close to 7% in FY25, hit $7 trillion by 2030: FinMin

Live Mint  

Even as the finance ministry expects FY24 economic growth to exceed the central bank’s projection of 7%, it also expects growth in the following year, FY25, to be close to 7%, even though geopolitical risks could lead to supply chain disruptions and a rise in inflation. The ministry’s latest monthly economic review also said that under reasonable assumptions, India can …

Interim budget 2024: India aims to lower budget deficit, raise capex by 20%
11 months, 1 week ago

Interim budget 2024: India aims to lower budget deficit, raise capex by 20%

India Today  

As India gears up for its 2024/25 budget, there are indications that the government is planning to reduce its budget deficit by at least 50 basis points from the current year's target of 5.9 per cent of Gross Domestic Product. Devendra Pant, an economist at India Ratings, was quoted in the report saying that reducing the government's money shortage and …

Riding high on the growth momentum
11 months, 1 week ago

Riding high on the growth momentum

Hindustan Times  

The Indian economy’s growth continues to surprise: The recently released advance estimate of Gross Domestic Product by the National Statistical Office showed that the economy will grow 7.3% in the current fiscal year 2023-24, slightly higher than last year’s 7.2% increase. India’s growth rate has kept a 7% handle for the last two years, but the world’s GDP growth has …

India to be $5 trillion economy by end of 2025: Amit Shah
1 year ago

India to be $5 trillion economy by end of 2025: Amit Shah

The Hindu  

Union Home Minister Amit Shah on December 9 said India will become a $5 trillion economy by the end of 2025. Addressing the valedictory session of the Uttarakhand Global Investors Summit in Dehradun, Mr. Shah said India has grown exponentially on every front over the past one decade due to the farsighted and visionary leadership of Prime Minister Narendra Modi. …

India will be third largest GDP by 2027, says Nirmala
1 year, 1 month ago

India will be third largest GDP by 2027, says Nirmala

Deccan Chronicle  

New Delhi: Terming the India-Middle East-Europe Connectivity Corridor as one of the most promising connectivity projects, Union finance minister Nirmala Sitharaman on Wednesday said that it would be a win-win situation for all stakeholders who are involved in bringing efficiency in transportation, reducing logistic costs, increasing economic unity, generating employment, and lowering greenhouse gas emissions. The country’s economic growth is …

Little more optimistic about India's economic growth than few months ago, says RBI MPC member Jayanth R. Varma
1 year, 1 month ago

Little more optimistic about India's economic growth than few months ago, says RBI MPC member Jayanth R. Varma

The Hindu  

RBI MPC member Jayanth R. Varma on October 24 said that he is 'little more' optimistic about India's economic growth than a few months ago, though concerns remain as the country is now 'disproportionately' dependent on household spending with other components of demand encountering headwinds. Mr. Varma further said that India should be willing to accept inflation between 4% and …

India’s GDP expanded 6.1% in 2022-23’s last quarter
1 year, 6 months ago

India’s GDP expanded 6.1% in 2022-23’s last quarter

The Hindu  

India’s GDP growth accelerated to 6.1% in the January to March 2023 quarter, lifting the economy’s uptick in 2022-23 to 7.2% from the 7% estimated earlier, according to the provisional national income data released by the National Statistical Office on Wednesday. The higher-than-expected GDP growth last year could also temper growth expectations for this year, which the government and central …

'Indian economy's growth rate underscores its resilience amid global challenges,' says PM Modi
1 year, 6 months ago

'Indian economy's growth rate underscores its resilience amid global challenges,' says PM Modi

India TV News  

Prime Minister Narendra Modi on Wednesday taking to Twitter asserted that the Indian economy's annual growth rate of 7.2 percent underscores its resilience amidst global challenges. National Statistical Office recently released data mentioning that India's economy grew 6.1 percent in the fourth quarter of 2022-23. "The 2022-23 GDP growth figures underscore the resilience of the Indian economy amidst global challenges," …

India’s economy picks up speed amid global slowdown
1 year, 6 months ago

India’s economy picks up speed amid global slowdown

Al Jazeera  

With 6.1% quarterly growth, India remains one of the fastest growing emerging economies, especially as China’s recovery stumbles. India’s economic growth has accelerated to 6.1 percent in the January–to-March quarter, boosted by government and private capital spending even as private consumption remained sluggish, government data shows. The manufacturing sector, which for the past decade has accounted for just 17 percent …

India is making its mark in the world
1 year, 6 months ago

India is making its mark in the world

Hindustan Times  

India is in a rare moment of equilibrium. India’s economy is no longer at the receiving end of the global order but is in the fray of the world’s most powerful future economies, with an unmatched growth rate. The International Monetary Fund says India and China will account for 50% of the total world gross domestic product growth in 2023, …

India's growth momentum likely to be sustained in 2023-24: RBI
1 year, 6 months ago

India's growth momentum likely to be sustained in 2023-24: RBI

India TV News  

On the back of sound macroeconomic policies and softer commodity prices, India's growth momentum is likely to be sustained in 2023-24 in an atmosphere of easing inflationary pressures, said the Reserve Bank's annual report released on Tuesday. It, however, added that slowing global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility following new stress events in …

Indian Economy Expected To Grow 6.7% In 2024, Country Remains A Bright Spot: UN
1 year, 7 months ago

Indian Economy Expected To Grow 6.7% In 2024, Country Remains A Bright Spot: UN

News 18  

India’s economy is expected to grow by 6.7 per cent in the calendar year 2024, supported by resilient domestic demand, according to a UN report which said higher interest rates and weaker external demand will continue to weigh on investment and exports this year for the country. The World Economic Situation and Prospects as of mid-2023 released on Tuesday said …

India's economic growth to slow down considerably this year: Economists
1 year, 8 months ago

India's economic growth to slow down considerably this year: Economists

India Today  

Top global institutions have forecast India to be the fastest-growing economy in FY24, as the country remains resilient from global shocks that have brought major economies to their heels. India’s domestic growth prospects remain robust, but economists feel that there is no escaping the cascading impact of the global economic slowdown, which could hurt various key segments of growth. The …

India will stay on course; projected to grow at 7% in 2022-23: FM Sitharaman
1 year, 8 months ago

India will stay on course; projected to grow at 7% in 2022-23: FM Sitharaman

The Hindu  

Observing that the International Monetary Fund and World Bank have estimated India to be the fastest-growing major economy in 2023, Finance Minister Nirmala Sitharaman has said the Indian economy will stay on course and is likely to grow at 7% in 2022-23. Attending the Plenary Meeting of the International Monetary and Financial Committee at the IMF Headquarters here on Friday …

India likely to have stable debt-to-GDP ratio going forward, says IMF official
1 year, 8 months ago

India likely to have stable debt-to-GDP ratio going forward, says IMF official

Deccan Chronicle  

WASHINGTON: India is expected to have a stable debt-to-GDP ratio going forward, a senior official from the International Monetary Fund said on Wednesday and recommended rationalization and simplification of Goods and Services Tax. According to Paolo Mauro, Deputy Director of the IMF Fiscal Affairs Department, there will be a gradual resumption of the rise in the global public debt-to-GDP ratio …

India’s post-pandemic potential growth could be pushed higher
1 year, 8 months ago

India’s post-pandemic potential growth could be pushed higher

Live Mint  

Three years have now passed since the pandemic brought the world to a standstill. The World Bank has this week released a large database with estimates of potential growth over the years for various countries. First, the World Bank estimates Indian potential growth at 7% a year. Second, Indian potential growth is higher than that of most emerging economies it …

Indian economy likely to grow at 6.5 per cent in coming decade, predicts CEA
1 year, 8 months ago

Indian economy likely to grow at 6.5 per cent in coming decade, predicts CEA

Live Mint  

Chief Economic Advisor V Anantha Nageswaran on Wednesday said that the Indian Economy is likely to grow at the rate of 6.5 per cent in the coming decade on the back of the turnaround in financial and investment cycle. "So, I think the restoration of the financial, credit and the investment cycle in the commercial sector and the real estate …

India to buck global slowdown, maintain pace of expansion: RBI officials
1 year, 9 months ago

India to buck global slowdown, maintain pace of expansion: RBI officials

The Hindu  

Even as the global economy is set to slow down or even enter a recession in 2023 as financial markets worldwide face heightened uncertainty, the Indian economy is steadily gathering momentum, Reserve Bank of India officials headed by deputy governor Michael D. Patra wrote in an article in the March RBI Bulletin. “Unlike the global economy, India would not slow …

Unlike Global Economy, India Won't Slow Down And Maintain Pace Of Expansion Seen In FY22: RBI
1 year, 9 months ago

Unlike Global Economy, India Won't Slow Down And Maintain Pace Of Expansion Seen In FY22: RBI

ABP News  

The Reserve Bank of India, in its monthly bulletin for March, said unlike the global economy, India would not slow down and maintain the pace of expansion achieved in 2022-23. Even as global growth is set to slow down or even enter a recession in 2023 as global financial markets wager, India has emerged from the pandemic years stronger than …

India must avoid growing into a dystopia
1 year, 10 months ago

India must avoid growing into a dystopia

The Hindu  

The Budget that was presented recently, has received almost universal praise in the English language media. Next, as 2022 drew to a close, the London-based consultancy Centre for Economics and Business Research predicted that by 2035, India’s economy would reach $10 trillion and become the world’s third largest by 2037. A few days ago, a leading Indian financial daily calculated …

Budget 2023 | On the right course: A growth-oriented Budget: Keki Mistry
1 year, 10 months ago

Budget 2023 | On the right course: A growth-oriented Budget: Keki Mistry

The Hindu  

The Union Budget is one of the most anticipated annual events, where India has consistently embarked on numerous reforms bringing about structural changes. In my opinion, the Finance Minister this year rightly focussed on key factors that align with the larger vision of the government: boosting economic growth, employment generation, encouraging savings and investments, and fiscal consolidation. The government needs …

India to face challenges in meeting fiscal deficit target: Report
1 year, 10 months ago

India to face challenges in meeting fiscal deficit target: Report

Hindustan Times  

India could find it challenging to meet the fiscal deficit target of 4.5% of GDP in 2025-26, an analyst at Fitch Ratings said on Wednesday, adding that the country's sovereign rating continues to remain stable. Earlier in the day, an official at Moody's Investors Service had also said that the government's fiscal deficit target for 2025/26 could see some risks. …

Economic Survey 2023: Decoupling of India’s Economy from Global Headwinds Needs Calibrated Action - News18
1 year, 10 months ago

Economic Survey 2023: Decoupling of India’s Economy from Global Headwinds Needs Calibrated Action - News18

News 18  

India’s Finance Minister Nirmala Sitharaman today, a short while after the first address of President Draupadi Murmu, to the joint session of the Parliament, presented her fifth Economic Survey, ahead of her last full Union Budget of the present government to be presented in the Lok Sabha, on February 1. The 414 pages 12-chapter long sprawling Economic Survey takes a …

After 'smart recovery' from Covid, what do MSMEs expect from Budget 2023
1 year, 10 months ago

After 'smart recovery' from Covid, what do MSMEs expect from Budget 2023

Hindustan Times  

The micro, small and medium enterprises sector has posted smart recovery from pandemic-induced shock, with the goods and services tax paid by the sector in fiscal year 2022 exceeding the pre-pandemic level in FY20, the Economic Survey tabled in parliament on Tuesday noted. The Economic survey highlighted Covid had a significant negative impact on the sector’s performance. Economic survey highlighted …

Economic Survey 2022-23 | Survey presents comprehensive analysis of India’s growth trajectory: PM Modi
1 year, 10 months ago

Economic Survey 2022-23 | Survey presents comprehensive analysis of India’s growth trajectory: PM Modi

The Hindu  

The Union Finance Minister, Nirmala Sitharaman, tabled the Economic Survey for the Financial Year 2022-23, after the President’s address, on the first day of the Union Budget Session 2023-24 today. The Economic Survey said that India’s economic recovery from the pandemic is complete and the economy is expected to grow in the range of 6% to 6.8% in the coming …

Budget 2023: How to accelerate growth of Indian manufacturing sector
1 year, 11 months ago

Budget 2023: How to accelerate growth of Indian manufacturing sector

India TV News  

Budget 2023: In recent years, the government has implemented a number of supply-side policies to boost manufacturing, and thus investment and Economic growth. According to the experts, the union budget for 2023-24 may benefit the sector significantly as the government intends to provide a significant boost to manufacturing while focusing on increasing private investment and exports.“The Indian manufacturing sector anticipates …

2023 Should Be India’s Year
1 year, 11 months ago

2023 Should Be India’s Year

The Diplomat  

As president of the G-20 and the SCO this year, India is in a position to project global leadership. The theme of India’s G-20 presidency is “Vasudhaiva Kutumbakam” – loosely translated as “The World is One Family” or as the Indian government puts it on its G-20 website, “One Earth – One Family – One Future.” This lofty sentiment, which …

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