Let’s reflect on what’ll make India a developed country
2 years ago

Let’s reflect on what’ll make India a developed country

Live Mint  

During his recent United Nations General Assembly speech, external affairs minister S. Jaishankar told the world about India’s ambition to become a developed country by 2047, a century after the country’s independence. Usually, countries are considered developed based on the size of their GDP, and therefore the per capita income of their citizens, along with the presence of high-quality infrastructure. If we work with the general characteristics of these economies to define a developed country, the following points come to mind: First, most of these countries are home to the world’s largest multinational corporations, taking advantage of global movement of capital. Usually, countries are considered developed based on the size of their GDP, and therefore the per capita income and change at every socio-economic level.

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History of this topic

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027
1 month, 1 week ago

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027

Deccan Chronicle  

New Delhi: S&P Global Ratings on Thursday projected the Indian economy to grow between 6.5-7 per cent annually in the three fiscal years till March 2027 as infrastructure spending and private consumption drive growth momentum. “Good economic growth prospects will continue to support banks' asset quality, while healthy corporate balance sheets, tighter underwriting standards and improved risk management practices will …

World Development Report 2024: India must focus on inclusive growth to escape ‘middle-income trap’
4 months, 2 weeks ago

World Development Report 2024: India must focus on inclusive growth to escape ‘middle-income trap’

Firstpost  

India may be a lower-middle-income economy, but quality development of human resources, proper skilling of youth, and support for research and development can help India ensure a better life for its people The report released on August 1 suggests that at the current pace, China could take more than 10 years, Indonesia could take 70 years, and India could take …

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 …

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’s Growth to Steady at 6.7% Till 2026: World Bank
6 months, 1 week ago

India’s Growth to Steady at 6.7% Till 2026: World Bank

Deccan Chronicle  

Chennai: India will remain the fastest-growing of the world’s largest economies, although its pace of expansion is expected to moderate, finds the World Bank. While retaining the GDP growth forecast for FY24 and FY25 at 6.6 per cent and 6.7 per cent respectively, the World Bank estimated the country to clock 6.8 per cent growth in FY26. Growth in industrial …

ADB pegs India’s GDP growth at 7% in 2024-25, 7.2% next year
8 months, 1 week ago

ADB pegs India’s GDP growth at 7% in 2024-25, 7.2% next year

The Hindu  

India’s economy is expected to remain robust over the next two years even though headline growth in the country’s Gross Domestic Product is forecast to slow from 7.6% in 2023-24 to 7% this year before improving to 7.2% in 2025-26, the Asian Development Bank said. “In India, growth is forecast to remain strong as rising consumption complements continued investment growth,” …

Bank of America expects India fundraising to be busier than ever
10 months ago

Bank of America expects India fundraising to be busier than ever

Live Mint  

Fundraising activity in India will be stronger than ever over the next two years as conglomerates, tech firms and financial services providers hunt for capital to fuel growth and owners seize the moment to sell holdings, Bank of America Corp.’s co-head of investment banking in the country said. Reliance Industries Ltd., controlled by Asia’s richest person Mukesh Ambani, has been …

Spence lauds India’s growth at varsity event
10 months, 1 week ago

Spence lauds India’s growth at varsity event

Hindustan Times  

India has developed the best digital economy and financial architecture in the world, said Nobel laureate Michael Spence during a panel discussion at Bennett University. Michael Spence “As somebody who has spent the last 25 years thinking about growth in one form or another in virtually every corner of the world, let me just say that the major economy with …

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 …

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 …

World Bank maintains India's GDP growth at 6.3 % for FY24
1 year, 2 months ago

World Bank maintains India's GDP growth at 6.3 % for FY24

Hindustan Times  

The World Bank on Tuesday projected that India's economy will grow at 6.3% in the ongoing fiscal year, maintaining a projection that it first gave in April, months after its December 2022 estimate of 6.6% for FY23-24. World Bank maintains India current fiscal year growth forecast at 6.3% India's FY 2022-23 growth of 7.2% shows that the country ‘continues to …

’Indian equities to benefit from macro backdrop, Nifty EPS to grow 18% in FY24’
1 year, 4 months ago

’Indian equities to benefit from macro backdrop, Nifty EPS to grow 18% in FY24’

Live Mint  

India’s financial market assets including equities, private markets, bond yields, are expected to benefit structurally from a favourable macroeconomic backdrop over the next few years. According to a report by Standard Chartered, India’s corporate profit cycle remains the strongest since the 2004-08 cycle as the benchmark Nifty index EPS grew at an average 20 per cent between FY21 and FY23 …

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, …

World Bank slashes India’s GDP growth forecast to 6.3%
1 year, 8 months ago

World Bank slashes India’s GDP growth forecast to 6.3%

Hindustan Times  

The World Bank on Tuesday cut India’s growth forecast for 2023-24 to 6.3% from its December estimate of 6.6% amid global headwinds and with rising borrowing costs and slower income growth leading to a moderation in consumption, even as its country director Auguste Tano Kouame said the Indian economy continues to show strong resilience to external shocks. World Bank slashes …

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 …

\'India\'s GDP nearing to $20 trillion, per capital income at $10k by 2047\'
1 year, 11 months ago

\'India\'s GDP nearing to $20 trillion, per capital income at $10k by 2047\'

Deccan Chronicle  

HYDERABAD: India's GDP will be close to USD 20 trillion by 2047 and per capita income may reach USD 10,000, Bibek Debroy, chairman, Economic Advisory Council to the Prime Minister, said on Wednesday. Virtually addressing the inaugural session at the 57th Annual Conference of the Indian Econometric Society held at the University of Hyderabad here, he said though the COVID-19 …

Keep an eye on these economic indicators in 2023
1 year, 11 months ago

Keep an eye on these economic indicators in 2023

Live Mint  

Global headwinds, tightening monetary policy and the lingering effects of the pandemic have combined to create a gloomy global outlook. In its December bulletin, the Reserve Bank of India said that with balance of risks being tilted towards a darkening global outlook and emerging markets appearing more vulnerable, the Indian economy needs support from domestic growth drivers. Sectoral deployment of …

With 8-9% Growth, It Will Take 20 Years for India to Become Developed Nation: RBI's Former Governor
1 year, 11 months ago

With 8-9% Growth, It Will Take 20 Years for India to Become Developed Nation: RBI's Former Governor

News 18  

Noting that the achievement of $5 trillion economy is a short term “aspirational goal,” former RBI Governor C Rangarajan on Saturday said even after that India will still be known as middle income country with per capita income $3472. Rangarajan further said in order to reach the level of an upper middle-income country, it will take another two years and …

Let’s reflect on what’ll make India a developed country
2 years ago

Let’s reflect on what’ll make India a developed country

Live Mint  

During his recent United Nations General Assembly speech, external affairs minister S. Jaishankar told the world about India’s ambition to become a developed country by 2047, a century after the country’s independence. Usually, countries are considered developed based on the size of their GDP, and therefore the per capita income of their citizens, along with the presence of high-quality infrastructure. …

World Bank raises India FY23 GDP growth forecast to 6.9%
2 years ago

World Bank raises India FY23 GDP growth forecast to 6.9%

Live Mint  

The World Bank on Tuesday raised India’s economic growth forecast for the current financial year to 6.9% from its October estimate of 6.5% citing the economy’s resilience in the face of challenging external environment and the September quarter performance. While the deteriorating external environment will weigh on India’s growth prospects, the economy is relatively well positioned to weather global spillovers …

Indian economy to grow 6.9% in FY23, up from 6.5% estimate: World Bank
2 years ago

Indian economy to grow 6.9% in FY23, up from 6.5% estimate: World Bank

Hindustan Times  

India's economy is expected to grow 6.9% in the current fiscal year, the World Bank said in a report on Tuesday, citing tightening monetary policy and high commodity prices as factors impacting the country's growth. The World Bank raised its forecast for India's growth to 6.9% for the current fiscal year from 6.5% earlier. "We have no concerns about India's …

What the GDP numbers say
2 years ago

What the GDP numbers say

Hindustan Times  

September quarter Gross Domestic Product numbers, which were released on November 30, are in perfect sync with the Reserve Bank of India ’s projection of 6.3%. If inflation continues to moderate — most forecasters, including RBI, believe that it will — and there is a sincere, even if gradual step towards fiscal consolidation in the forthcoming Budget, India will continue …

Economy resilient, on course to acheive 7% growth in FY23: RBI article
2 years, 1 month ago

Economy resilient, on course to acheive 7% growth in FY23: RBI article

The Hindu  

With headline inflation beginning to show signs of easing, the domestic macroeconomic outlook appears to be resilient and on course for about 7% GDP growth in the current fiscal though India is still sensitive to global headwinds, according to an article released by the RBI on Friday. In the article, the authors - led by RBI Deputy Governor Michael Debabrata …

Indian Economy Resilient But Sensitive To Global Headwinds, On Way To Post 7% Growth In FY23: RBI
2 years, 1 month ago

Indian Economy Resilient But Sensitive To Global Headwinds, On Way To Post 7% Growth In FY23: RBI

News 18  

India’s Q2 GDP Growth Forecast: The Reserve Bank of India on Friday said the Indian economy is resilient but also “sensitive to formidable global headwinds”. The central bank pegs the country’s GDP for the July-September 2022 quarter between 6.1 per cent and 6.3 per cent based on economic prediction models and high-frequency indicators, like IIP, PMI, core sector data and …

India likely to remain fastest growing major economy: RBI Guv Das
2 years, 1 month ago

India likely to remain fastest growing major economy: RBI Guv Das

Deccan Chronicle  

NEW DELHI: Reserve Bank Governor Shaktikanta Das on Saturday exuded confidence that India will continue to be the fastest growing major economy with a likely growth rate of 7 per cent in 2022-23 on the back of strong macroeconomic fundamentals and financial sector stability. The Governor said the financial market turmoil is mainly emanating from the synchronised monetary policy tightening …

Indian economy 'can touch USD 20 trillion by 2047'
2 years, 3 months ago

Indian economy 'can touch USD 20 trillion by 2047'

Firstpost  

India, which is the world’s sixth largest economy with a GDP of USD 2.7 trillion, is currently classified as a developing nation New Delhi: Economic Advisory Council to the Prime Minister Chairman Bibek Debroy on Tuesday said Indian economy’s size will touch USD 20 trillion by 2047 provided the annual average growth is 7-7.5 per cent in the next 25 …

How to sustain 7% growth for India
2 years, 3 months ago

How to sustain 7% growth for India

Live Mint  

One country stands out from the gloomy overall tone of the International Monetary Fund’s recent update of its World Economic Outlook. This is the fastest growth of any large economy except Saudi Arabia, which is the incidental beneficiary of upward pressure on global oil prices from Russian President Vladimir Putin’s war against Ukraine. One might also note that, with India’s …

Asian Development Bank pares India growth hopes to 7.2% for 2022-23
2 years, 5 months ago

Asian Development Bank pares India growth hopes to 7.2% for 2022-23

The Hindu  

The Asian Development Bank has lowered its growth forecast for India to 7.2% for 2022-23 from a 7.5% projection made in April, citing higher than anticipated inflation since April along with monetary policy tightening. In a supplement to its Asian Development Outlook report, the Bank on July 21 also moderated its growth hopes for 2023-24 to 7.8% from 8% and …

Indian neoliberalism: A toxic gift from global finance
3 years, 3 months ago

Indian neoliberalism: A toxic gift from global finance

The Hindu  

India’s tryst with neoliberalism—the economic framework that preaches market fundamentalism but uses the state to engineer a redistribution of income and assets in favour of finance capital and big business—is routinely traced to 1991. Global finance plays a role With the global financial system awash with liquidity, it began searching for new targets to lend to and invest in and …

India Must Bridge the Last-mile Gap on FTAs for an Economic Take-off
3 years, 6 months ago

India Must Bridge the Last-mile Gap on FTAs for an Economic Take-off

News 18  

The Central Hall of Parliament broke into rapturous applause. Delivering the Nani Palkhivala Memorial Lecture last year, Tata Sons chairman N Chandrasekaran hit the bullseye in noting, “There is a massive risk aversion within the system, which has led to an ‘undesirable equilibrium’ where it is safer to avoid or delay decisions.” Alas, hardly any official has ever been sacked …

India must capture all segments of financial market to fuel growth: IMF
3 years, 8 months ago

India must capture all segments of financial market to fuel growth: IMF

The Hindu  

India is on the right track and is innovating on the policy side, including on digital identity and payments, but it also needs to capture all the segments of the financial market and institutions to make sure that every piece fits together like a puzzle to fuel growth in the country, according to a top IMF official. “The goal is …

India's GDP growth turns positive, but experts caution against celebrating 0.4% growth
3 years, 9 months ago

India's GDP growth turns positive, but experts caution against celebrating 0.4% growth

India Today  

Though India’s economic health continues to slowly improve, a comprehensive recovery is yet to be seen. It had contracted by 23.9 per cent in April-June 2020 and by 7.5 per cent in July-September 2020; in the October-December 2020 period, it grew 0.4 per cent. The Finance Ministry’s Economic Survey 2020-21 projects that India’s real GDP growth in FY22 will be …

India Needs More Global Sized Banks to Help Country Achieve $5 Trillion Economy: CEA
4 years, 4 months ago

India Needs More Global Sized Banks to Help Country Achieve $5 Trillion Economy: CEA

News 18  

Chief Economic Adviser K V Subramanian on Sunday said that India needs more global sized banks to help the country achieve USD 5 trillion economy by 2024-25. So, if the Indian banking sector was proportional to the size of its economy, India should have been where South Korea is, which has six banks in the global top hundred. "If you …

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