2023-09-27 10:37:08 India’s take-off moment has arrived, backed by the advantages of having the world’s largest working population and resilient physical and digital institutions, NITI Aayog’s vice chairman Suman Bery said on Wednesday. However, managing urbanisation, making regulations consistent and continuous, adapting to disruptive technologies, managing climate change and addressing the issue of regional imbalances … Read more
2023-09-14 07:25:44 India’s growth pace is likely to moderate in the third quarter, even as the economy continues to show resilience despite tighter monetary policy and weakness in exports, Fitch Ratings said today. The global rating agency left India’s fiscal 2024 growth aim unchanged at 6.3% and also said the world economy in 2023 is … Read more
2023-09-04 06:52:24 Rains forecast for swathes of India this month should limit the damage to crops after a delayed monsoon and parched August, leaving the world’s most populous nation with sufficient supplies, the food ministry’s top bureaucrat said. Rising food prices have been a major headache for Prime Minister Narendra Modi’s government, prompting aggressive moves … Read more
2023-08-01 12:16:45 The government’s road map for turning India into a $5-trillion economy focusses on growth at the macro level and complementing it with ‘all-inclusive welfare’ at the micro level, the finance ministry said on Tuesday. In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary said the road map … Read more
2023-07-04 13:43:13 States continue to pay higher interest rates to investors for their debt, with the latest weighted average cost rising to 7.46 per cent at Tuesday’s auctions wherein nine states raised Rs 16,200 crore. The weighted average cut-off/yield on state government securities (SGS) rose by 5 bps to 7.46 per cent in the auction … Read more
2023-05-31 03:00:10 India’s economic growth probably matched government estimates as demand spurred an expansion in the services sector and cushioned the impact of elevated interest rates. Data due Wednesday is likely to show gross domestic product in the year to March 2023 grew 7%, according to the median estimate in a Bloomberg survey that’s in … Read more
2023-05-10 15:53:34 The Indian diaspora contributed substantially to the country’s forex reserves pile-up. In addition to sending record amounts- $108 billion – as remittances to their families back home, cumulative NRI deposits are at $136 billion as of February 2023, according to a top RBI official. “The Indian economy has been a beneficiary of this … Read more
2023-05-01 05:08:47 India’s manufacturing industry saw expanded at the fastest rate this calendar year so far on the back of stronger factory orders and production, a private survey showed on Monday. S&P Global India Manufacturing Purchasing Managers’ Index (PMI) in April rose to 57.2 in April from 56.4 in the month before, as all sub-components … Read more