RBI Rejects IMF Warning of India's Debt to GDP Exceeding 100%
10 months ago

RBI Rejects IMF Warning of India's Debt to GDP Exceeding 100%

Deccan Chronicle  

Mumbai: Spending on social and physical infrastructure, climate mitigation,digitalisation and skilling the labour force can yield long-lasting growth dividends. Using a dynamic stochastic general equilibrium model, the economists found that if the government expenditure is directed towards employment-generating sectors, climate risk mitigation and digitalisation, the debt-GDP ratio of the general government can decline substantially to 73.4 per cent of GDP by 2030-31 from an estimated 81.6 percent in 2023-24. The RBI economists in the article titled 'The Shape of Growth Compatible Fiscal Consolidation' released on Tuesday as part of the central bank's February Bulletin rejected the International Monetary Fund's warning that India’s debt to GDP could exceed 100 percent in the coming years. "It is in this context that we reject the IMF's contention that if historical shocks materialise, India's general government debt would exceed 100 percent of GDP in the medium-term and hence further fiscal tightening is needed," it added. In their analysis, the RBI economists examined how India's general government debt – the debt of the central government and the states – would move as a percentage of the national GDP under four different scenarios assuming annual real GDP growth of 7.3 percent and headline retail inflation of 4.3 percent.

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History of this topic

Economists ask Finance Minister to focus on growth rather than fiscal consolidation
2 weeks, 3 days ago

Economists ask Finance Minister to focus on growth rather than fiscal consolidation

New Indian Express  

NEW DELHI: With the second quarter GDP growth falling to a 7-quarter low of 5.4%, economists have asked the government to shift its policy focus to growth rather than fiscal consolidation. In a pre-budget meeting with finance minister Nirmala Sitharaman on Friday, a delegation of economists suggested the government readdress the pace of fiscal consolidation and take measures to boost …

RBI must restore balance between inflation, growth
2 weeks, 4 days ago

RBI must restore balance between inflation, growth

New Indian Express  

Despite the disappointing slump in economic growth, the RBI on Friday left the benchmark policy repo rate unchanged at 6.5 percent amid inflationary pressures. Maintaining a firm stance on inflation control, Governor Shaktikanta Das stressed that the central bank needed “more credible evidence” on the disinflationary process, which he said was getting prolonged and arduous. As Das rightly noted, there …

RBI must restore balance between inflation, growth
2 weeks, 4 days ago

RBI must restore balance between inflation, growth

New Indian Express  

Despite the disappointing slump in economic growth, the RBI on Friday left the benchmark policy repo rate unchanged at 6.5 percent amid inflationary pressures. Maintaining a firm stance on inflation control, Governor Shaktikanta Das stressed that the central bank needed “more credible evidence” on the disinflationary process, which he said was getting prolonged and arduous. As Das rightly noted, there …

India’s GDP growth shocker: Bad news can be good too
2 weeks, 6 days ago

India’s GDP growth shocker: Bad news can be good too

Live Mint  

India’s growth in gross domestic product of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It’s the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. Given the …

India’s GDP growth estimated to decelerate to 6.3% in 2025, says Goldman Sachs; sees shallow RBI rate cut from Q1CY25
1 month ago

India’s GDP growth estimated to decelerate to 6.3% in 2025, says Goldman Sachs; sees shallow RBI rate cut from Q1CY25

Live Mint  

India’s economic growth is expected to decelerate in 2025, said Goldman Sachs even as it believes that the economy will likely be insulated from global shocks emanating out of a potential trade war between US and China. Though India’s strong long-term structural growth story remains intact, we forecast GDP growth to decelerate to 6.3% YoY in CY25, on continued fiscal …

India's Economy Shows Satisfactory Performance in First Half of FY25, But Risks from Geopolitical Conflicts and Global Factors
1 month, 3 weeks ago

India's Economy Shows Satisfactory Performance in First Half of FY25, But Risks from Geopolitical Conflicts and Global Factors

Hindustan Times  

India's economy performed satisfactorily in the first half of the current financial year, according to the finance ministry's monthly economic report released Monday. However, the ministry warned of potential disruptions from geopolitical conflicts, rising geo-economic fragmentation and elevated valuations in financial markets of some advanced economies.

Central government debt set to double to ₹185 trillion by FY25 amid fiscal challenges and policy shifts
4 months, 3 weeks ago

Central government debt set to double to ₹185 trillion by FY25 amid fiscal challenges and policy shifts

Live Mint  

India's central government debt is projected to escalate to ₹185.27 trillion, or 56.8% of GDP, by the financial year 2024-25, up from ₹93.26 trillion, or 49.3% of GDP, in 2018-19, the minister of state for finance Pankaj Chaudhary said in a written reply to the Lok Sabha on Monday. This projected increase in debt follows a significant rise over the …

Govt Estimates Centre's Debt To Rise To Rs 185 Lakh Cr In FY25
4 months, 3 weeks ago

Govt Estimates Centre's Debt To Rise To Rs 185 Lakh Cr In FY25

News 18  

The government estimates its debt, including external borrowing, valued at current exchange rate and public account and other liabilities will increase to Rs 185 lakh crore, or 56.8 per cent of the GDP, during the current fiscal year. The total debt stood at Rs 171.78 lakh crore, or 58.2 per cent of the gross domestic product, at the end of …

Economic Survey 2023-24: ‘Focus on macro stability ensured minimal impact from external challenges’
5 months ago

Economic Survey 2023-24: ‘Focus on macro stability ensured minimal impact from external challenges’

The Hindu  

As per the latest Economic Survey tabled in Parliament on July 22, India’s focus on maintaining macroeconomic stability ensured external challenges had “minimal impact” on the economy. Read the full Economic Survey 2023-24 The survey goes on to state that growth prospects for the ongoing financial year “look good”, subject to geopolitical, financial market and climate risks. The outlook had …

Economic Survey out ahead of Budget: What it says on GDP, inflation and more
5 months ago

Economic Survey out ahead of Budget: What it says on GDP, inflation and more

Hindustan Times  

Union Finance minister Nirmala Sitharaman tabled the Economic Survey 2023-2024 in the Lok Sabha. The growth estimated by the Economic Survey, ahead of the Union Budget, is in line with the International Monetary Fund’s estimate of 7 per cent. Follow LIVE updates on Economic Survey here The survey said, “The survey conservatively projects a real GDP growth of 6.5–7 per …

Explained: Why Economic Survey 2024 has taken a cautious stance
5 months ago

Explained: Why Economic Survey 2024 has taken a cautious stance

India Today  

The Economic Survey 2023-24 has adopted a more cautious stance on India’s growth prospects, projecting an expansion of 6.5% to 7% for the fiscal year. Chief Economic Adviser V. Anantha Nageswaran highlighted that while the Indian economy remains resilient, it faces potential challenges from geopolitical uncertainties and the risk of cheaper imports that could impact private capital formation. "The Indian …

IMF raises India’s FY25 growth forecast upward to 7%
5 months, 1 week ago

IMF raises India’s FY25 growth forecast upward to 7%

Hindustan Times  

The International Monetary Fund raised India’s growth forecast for FY25 to 7 per cent from 6.8 per cent projected in April. This comes as the Reserve Bank of India revised India’s growth forecast upward to 7.2 from 7 per cent earlier in June. IMF said that the global economy is still poised for a soft landing as it raised the …

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 …

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades
6 months, 2 weeks ago

IMF predicts India’s GDP growth to be 7% in 2024, 6.5% in 2025 as pent-up demand fades

Firstpost  

“In India, the outlook is for GDP growth to moderate from 8.2 per cent in 2023 to 7 per cent in 2024 and 6.5 per cent in 2025, because pent-up demand accumulated during the pandemic has been exhausted” the IMF said in the World Economic Outlook The IMF on Tuesday said India's GDP would grow 7% in 2024-25. India’s GDP …

Debt, fiscal challenges facing low-income countries worry IMF
8 months ago

Debt, fiscal challenges facing low-income countries worry IMF

The Hindu  

Shareholders of the International Monetary Fund agreed on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on April 19. Impact of high debt levels on low-income countries Ms. Georgieva, in a meeting of the Global Sovereign Debt Roundtable hosted by the IMF and the World …

India is the bright spot in sluggish economy
8 months, 1 week 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 …

UNCTAD sees India’s GDP growth slip to 6.5% in 2024 vs 6.7% in 2023: ‘RBI likely to keep interest rates constant’
8 months, 1 week ago

UNCTAD sees India’s GDP growth slip to 6.5% in 2024 vs 6.7% in 2023: ‘RBI likely to keep interest rates constant’

Live Mint  

The United Nations Trade and Development projected that Indian economy's growth momentum will most likely decelerate in 2024 to 6.5% against the 6.7% growth recorded in the previous year. The report states, “The expansion in 2023 was driven by strong public investment outlays as well as the vitality of the services sector, which benefitted from robust local demand for consumer …

IMF forecasts India’s economy to grow 6.8% this fiscal year
8 months, 1 week ago

IMF forecasts India’s economy to grow 6.8% this fiscal year

The Hindu  

The International Monetary Fund on Tuesday raised its growth projection for India’s GDP in the current fiscal year 2024/25 to 6.8%, and forecast a 6.5% expansion next year. The global economy had remained “remarkably resilient” with steady growth and inflation returning to target and had “defied expectations of stagflation and global recession” in the wake of the post-pandemic supply disruptions, …

Raging inflation, stagnant wages forcing households into debt: Congress
8 months, 2 weeks ago

Raging inflation, stagnant wages forcing households into debt: Congress

The Hindu  

The alarm bells are ringing for the Indian economy, but Prime Minister Narendra Modi has not heard them, the Congress said on April 9. The principal Opposition party’s statement was in response to a news report in The Hindu that quoted the findings of leading financial services firm Motilal Oswal on India’s growing household debt. Party general secretary Jairam Ramesh …

Decoding India’s economic realities: Comparing the state of the economy under the NDA and UPA governments
10 months, 1 week ago

Decoding India’s economic realities: Comparing the state of the economy under the NDA and UPA governments

The Hindu  

February 12, 2024 11:06 pm | Updated February 13, 2024 09:54 pm IST With the BJP-led government exuding over-confidence on the state of the economy, the interim Budget presented earlier this month has shifted focus to fiscal consolidation. Even then, the simple truth which is evident from the official data is that on average, real GDP growth was at least …

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 …

Centre refutes IMF's debt warning, recalls ‘far worse’ conditions of US, China
1 year ago

Centre refutes IMF's debt warning, recalls ‘far worse’ conditions of US, China

Hindustan Times  

The Indian government's debt-to-GDP ratio projection by the International Monetary Fund exceeding 100% by 2027-28 is “misconstrued”, the Union finance ministry said while adding that the predictions by the UN's financial body correspond to a worst-case scenario which is not a “fait accompli”, or not something that cannot be revived. In its so-called annual Article IV review, the IMF predicted …

'Still below debt level of 2002,' India terms IMF's latest report 'misconstrued'
1 year ago

'Still below debt level of 2002,' India terms IMF's latest report 'misconstrued'

India TV News  

India has said that certain projections made by the International Monetary Fund on alleged government debt vulnerabilities do not reflect the factual position adding that it has done relatively well and is still below the debt level of 2002. The IMF in one of its latest reports projected that the general government debt will exceed 100 per cent of the …

India’s GDP grew by 7.6 per cent during July-September quarter
1 year ago

India’s GDP grew by 7.6 per cent during July-September quarter

Op India  

The Indian economy grew 7.6 per cent during the July-September quarter of the current financial year 2023-24, remaining the fastest-growing major economy. The Reserve Bank of India had maintained real GDP growth for 2023-24 at 6.5 per cent with Q2 at 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent. The International Monetary Fund had …

IMF raises India’s growth forecast to 6.3% for 2023-24, cites strong consumption
1 year, 2 months ago

IMF raises India’s growth forecast to 6.3% for 2023-24, cites strong consumption

India TV News  

The International Monetary Fund has revised its GDP growth projection for India for the financial year 2023-24 to 6.3%, marking the second upward revision since April. Inflation and global growth outlook The IMF estimated India's consumer inflation for the fiscal year at 5.5%, slightly above the Reserve Bank of India's forecast of 5.4%. Globally, the IMF predicts a slowdown in …

India's external debt at $629.1 billion at June-end, says RBI data
1 year, 2 months ago

India's external debt at $629.1 billion at June-end, says RBI data

Hindustan Times  

India's external debt rose marginally to USD 629.1 billion at June-end 2023, although the debt-GDP ratio declined, according to a Reserve Bank data released on Thursday. RBI further said outstanding debt of the general government decreased, while non-government debt increased at end-June 2023 The debt rose by about USD 4.7 billion from USD 624.3 billion at March-end. US dollar-denominated debt …

Wrong to assess economic activity on GDP alone: Finance Ministry
1 year, 3 months ago

Wrong to assess economic activity on GDP alone: Finance Ministry

The Hindu  

The Finance Ministry on September 15 scotched aspersions cast by “certain sections” on the credibility of Indian GDP data, which showed a 7.8% uptick in the first quarter of this year, stressing that Indian GDP data is not seasonally adjusted and is finalised three years later so “it is wrong to look at the underlying economic activity based on GDP …

India's external debt at USD 624.7 bn within comfort zone, says FM Sitharaman
1 year, 3 months ago

India's external debt at USD 624.7 bn within comfort zone, says FM Sitharaman

Hindustan Times  

India's external debt of USD 624.7 billion at March-end 2023 with a debt-service ratio of 5.3 per cent is within the comfort zone and modest from a cross-country perspective, Finance Minister Nirmala Sitharaman has said. The report said the debt service ratio during 2022-23 has increased marginally to 5.3 per cent from 5.2 per cent during the previous year, mainly …

IMF raises India’s 2023 GDP growth forecast to 6.1%
1 year, 4 months ago

IMF raises India’s 2023 GDP growth forecast to 6.1%

Live Mint  

The International Monetary Fund on Tuesday revised India’s GDP growth forecast to 6.1% for 2023, up from 5.9% projected by the financial institution earlier this year as a result of stronger domestic investment. “Growth in India is projected at 6.1% in 2023, a 0.2 percentage point upward revision compared with the April projection, reflecting momentum from stronger-than-expected growth in the …

IMF Raises India's GDP Forecast To 6.1% For FY24, Lowers Global Economy Growth Projection
1 year, 4 months ago

IMF Raises India's GDP Forecast To 6.1% For FY24, Lowers Global Economy Growth Projection

ABP News  

The International Monetary Fund has raised India's GDP growth forecast for the financial year 2023-24 to 6.1 per cent from earlier 5.9 per cent after the country's stronger-than-expected growth in the fourth quarter of 2022. The global lender in its latest World Economic Outlook on Tuesday also revised its projection for the growth of the global economy in 2023 to …

IMF projects Indian economy to grow at 6.1% in 2023
1 year, 4 months ago

IMF projects Indian economy to grow at 6.1% in 2023

The Hindu  

The IMF on July 25 projected a growth rate of 6.1% for India in 2023, which is a 0.2 percentage point upward revision compared with the April projection. “Growth in India is projected at 6.1% in 2023, a 0.2 percentage point upward revision compared with the April projection,” it said in its latest update of the World Economic Outlook. Inflation …

Fitch pares India’s GDP growth forecast for this year to 6% from 6.2%
1 year, 7 months ago

Fitch pares India’s GDP growth forecast for this year to 6% from 6.2%

The Hindu  

Fitch Ratings has lowered its 2023-24 GDP growth forecast for India to 6% from 6.2%, citing headwinds from elevated inflation and interest rates along with subdued global demand, with the economy expected to rebound to 6.7% in 2024-25 as opposed to 6.9% projected earlier. While India will be one of the fastest-growing sovereigns rated by Fitch, bolstered by “resilient investment …

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 set to grow by 5.9% this fiscal: IMF
1 year, 8 months ago

India set to grow by 5.9% this fiscal: IMF

The Hindu  

The International Monetary Fund has projected that India’s economy will grow by 5.9% for the current fiscal year April 2023 - March 2024, a downward revision of 0.2 percentage points since the January forecast. Gradual recovery “The global economy’s gradual recovery from both the pandemic and Russia’s invasion of Ukraine remains on track,” IMF Chief Economist Pierre-Olivier Gourinchas said, adding …

IMF Lowers India's Economic Growth Forecast To 5.9% For FY24
1 year, 8 months ago

IMF Lowers India's Economic Growth Forecast To 5.9% For FY24

ABP News  

The International Monetary Fund on Tuesday lowered its economic growth forecast for India by 20 basis points to 5.9 per cent for the financial year 2023-24. The World Bank forecast said India will grow at 6.3 per cent, while the Asian Development Bank is projecting 6.4 per cent GDP growth for FY24. In its World Economic Outlook report released on …

IMF cuts India's FY24 growth forecast to 5.9%, says will remain fastest growing economy
1 year, 8 months ago

IMF cuts India's FY24 growth forecast to 5.9%, says will remain fastest growing economy

India Today  

The International Monetary Fund on Tuesday cut India's GDP growth forecast for the financial year 2023-24 by 20 basis points to 5.9 percent. In its World Economic Outlook report, the IMF also lowered the forecast for India for 2024-25 fiscal to 6.3 per cent from the 6.8 per cent it had predicted in January this year. READ | India, China …

IMF chief warns of a gloomy growth scenario
1 year, 8 months ago

IMF chief warns of a gloomy growth scenario

Hindustan Times  

Delivering a gloomy warning ahead of the spring meetings of the International Monetary Fund and World Bank, \, IMF’s managing director, said on Thursday that global growth dropped by half in 2022 and it will hover around 3% for the next five years, the lowest medium-term growth forecast since 1990. International Monetary Fund Managing Director Kristalina Georgieva poses for a …

World Bank lowers India’s growth forecast to 6.3%, says labour market needs to be more inclusive
1 year, 8 months ago

World Bank lowers India’s growth forecast to 6.3%, says labour market needs to be more inclusive

The Hindu  

The World Bank has forecast a 6.3% economic growth rate for India in the current fiscal year which ends March 31 2024, a downgrade of 0.7 percentage points since its October forecast. The primary reasons for this are high borrowing costs and slower income growth causing weaker consumption, as well as the government tightening fiscal expenditure, the World Bank said …

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 …

Slowdown in GDP growth late last year temporary: Moody's Analytics
1 year, 9 months ago

Slowdown in GDP growth late last year temporary: Moody's Analytics

The Hindu  

March 07, 2023 05:44 pm | Updated 08:49 pm IST - New Delhi Moody’s Analytics on March 7, said India’s domestic economy, rather than trade, is its primary engine of growth and the slowdown in economic activity late last year will only be temporary. The government data released last week showed India’s gross domestic product growth slowed to a three …

RBI projects economic growth at 6.4% for next fiscal
1 year, 10 months ago

RBI projects economic growth at 6.4% for next fiscal

Firstpost  

Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the RBI’s internal survey says manufacturing, services and infrastructure sector firms are optimistic of the business outlook New Delhi: The Reserve Bank of India has projected India’s economic growth to slow down to 6.4 per cent in FY24 from 7 per cent in the current fiscal, citing risks from geo-political …

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 Pegs FY24 GDP Growth at 6-6.8%: What Does It Mean?
1 year, 10 months ago

Economic Survey Pegs FY24 GDP Growth at 6-6.8%: What Does It Mean?

News 18  

India’s economy is projected to slow to 6.5 per cent in the fiscal year starting April but will remain the fastest growing major economy in the world as it fared better in dealing with the extraordinary set of challenges the globe has faced, the Economic Survey 2022-23 said on Tuesday. LIVE Updates In comparison to the predicted 7% growth in …

Economic Survey 2022-23 Highlights: 6.5% FY24 GDP Growth, Inflation To Be 'Less Stiff', CAD Concerns
1 year, 10 months ago

Economic Survey 2022-23 Highlights: 6.5% FY24 GDP Growth, Inflation To Be 'Less Stiff', CAD Concerns

News 18  

A day ahead of the Budget 2023, Finance Minister Nirmala Sitharaman on Tuesday presented the Economic Survey 2022-23 in Parliament. According to the Survey, India’s economic growth for the next financial year 2023-24 is pegged at 6-6.8 per cent with a baseline real GDP growth of 6.5 per cent. Here’re the highlights of the Economic Survey 2022-23: India’s Economic Growth …

Inflation in India expected to come down to 5% in 2023, 4% in 2024: IMF
1 year, 10 months ago

Inflation in India expected to come down to 5% in 2023, 4% in 2024: IMF

The Hindu  

Inflation in India is expected to come down from 6.8% in the current fiscal year ending March 31 to 5% the next fiscal, and then drop further to 4% in 2024, the International Monetary Fund said on Tuesday. “Inflation in India as in other countries is expected to come down from 6.8 percent in 2022 to 5 percent in 2023 …

Budget 2023 may peg gross borrowing under ₹16 trillion: Report
1 year, 10 months ago

Budget 2023 may peg gross borrowing under ₹16 trillion: Report

Live Mint  

India's federal government is likely to keep its gross market borrowing below ₹16 trillion for 2023/24 as it does not want to destabilise the bond market with any negative surprises, two sources close to the deliberations said. The government has so far raised ₹12.93 trln up to Jan. 27, which is 91% of the overall gross borrowing target of ₹14.21 …

India expected to become USD 7 trillion economy in seven years: Chief Economic Advisor
1 year, 11 months ago

India expected to become USD 7 trillion economy in seven years: Chief Economic Advisor

India TV News  

The Indian economy will be USD 3 trillion by the end of the current 2022-23 fiscal and is expected to be USD 7 trillion in the next seven years, said Chief Economic Advisor V Anantha Nageswaran said on Monday. "In these contexts, the Indian economy will be of the size of USD 3 trillion at the end of March 2023 …

6.5% growth with sub-5% inflation key to $5 trillion economy: Govt paper
1 year, 11 months ago

6.5% growth with sub-5% inflation key to $5 trillion economy: Govt paper

Hindustan Times  

An annual economic growth of 6.5% with inflation less than 5% for the next five years holds the key for the central government’s ambitious target of making India a $5 trillion economy, according to a background paper circulated among a select group of lawmakers. “India is likely to become a US$ 5 trillion economy by 2026-27 if it grows at …

Explained | Is the economy driving with the brakes on?
1 year, 11 months ago

Explained | Is the economy driving with the brakes on?

The Hindu  

The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps for the rebound. As JP Morgan managing director and India chief economist Sajjid Chinoy explained at a CII economic policy summit last week, 2022 was expected to see a …

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