Tag: Indian economy

Economic Survey Identifies Areas For Further Growth: PM Modi

July 22, 2024 admin

File: The Economic Survey an overview of the short-to-medium-term prospects of the economy. Prime Minister Narendra Modi on Monday said the Economic Survey highlights the prevailing strengths of the economy and identifies areas for further growth and progress as “we move towards building a Viksit Bharat”. Finance Minister Nirmala Sitharaman on Monday presented the Economic…

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Economic Survey 2023-24: Economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector

July 22, 2024 admin

Economic Survey 2023-24 states that India’s workforce is nearly 56.5%, construction accounted for 13% in construction industry. | Photo Credit: Getty Images/iStockphoto India’s workforce is nearly 56.5 crore, with more than 45% employed in agriculture, 11.4% in manufacturing, 28.9% in services, and 13.0% in construction, highlights the Economic Survey 2023-24 released by the finance ministry…

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India Can Become World’s 2nd-Largest Economy By 2031, Largest By 2060: RBI Deputy Governor

July 13, 2024 admin

India can become world’s second-largest economy by 2031, RBI Deputy Governor said. New Delhi: India can become the second largest economy by 2031 and the largest economy in the world by 2060, said Michael Debabrata Patra, Deputy Governor, Reserve Bank of India (RBI) during a program at the Lal Bahadur Shastri National Academy of Administration,…

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India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani

July 12, 2024 admin

Arvind Virmani, NITI Ayog member. File | Photo Credit: Special arrangement “The Indian economy will grow around 7% in the current fiscal year and is on track to maintain a similar growth rate for several years,” NITI Aayog member Arvind Virmani said on July 12. Mr. Virmani said there are new challenges facing the country…

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‘Food prices a worry but June inflation may not exceed 5%’

July 11, 2024 admin

Headline inflation has slowed in India mainly because of lower food prices, but the volatility of these prices remains an issue, Moody’s Ratings said. | Photo Credit: PTI Volatile and high food prices remain a concern, but base effects may help temper India’s retail inflation pace in June and possibly even cool it below 4%…

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Employment Growth Rate In India Was 6% Last Year, Says Reserve Bank Of India

July 8, 2024 admin

India’s total employment stood at 643.3 million in 2023/24 (Representational) The Reserve Bank Of India said on Monday that India added 46.7 million jobs in the fiscal year ended March, far exceeding numbers in private surveys that point to high unemployment rates. The employment growth rate was 6% in 2023/24 versus 3.2% in 2022/23, the…

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New private investment plans slumped to 20-year low in Q1

July 7, 2024 admin

Image used for representational purpose. | Photo Credit: Getty Images/ In an exceptionally slow start to private capex in this financial year, new investment plans in the country slumped to a 20-year low in the April to June quarter, with just ₹44,300 crore of fresh outlays announced by corporates. The first quarter of 2023-24 had…

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India business activity grew faster in June, job creation at 18-year high, PMI shows

June 21, 2024 admin

Image used for representational purpose. | Photo Credit: Reuters Business activity in India expanded at a faster clip this month from May thanks to gains in manufacturing and services, according to a business survey that also showed the pace of job creation was at its strongest in over 18 years. Robust gains in both sectors…

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India’s Financial System Is Now In Much Stronger Position: RBI Governor Shaktikanta Das

June 20, 2024 admin

Governor Shaktikanta Das outlined RBI’s recent supervisory initiatives (File) Mumbai: RBI Governor Shaktikanta Das on Thursday said that the Indian financial system is in a “much stronger position,” characterised by robust capital adequacy, low levels of non-performing assets, and healthy profitability of banks and non-banking lenders. Underscoring the imperative of fostering a future-ready ethos within…

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Fitch raises India’s growth estimates for FY25 to 7.2%

June 18, 2024 admin

The latest Fitch Ratings has cited a recovery in consumer spending and increased investment. File photo | Photo Credit: The Hindu Fitch Ratings on Tuesday, June 18, 2024, raised India’s growth forecast for current fiscal to 7.2 per cent, from 7 per cent projected in March, citing a recovery in consumer spending and increased investment….

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