2023-04-25 09:13:57 India’s banking system is “strong enough to survive” stress caused by interest rates increasing and it will continue aiding economic growth, said the Finance Ministry in its monthly economic review on Tuesday. “The multifaceted nature of RBI’s regulatory actions, the improved bank balance sheets, and the attunement of the Indian banking system to … Read more
2023-04-21 13:44:41 Days after the International Monetary Fund (IMF) cut India’s gross domestic product (GDP) growth forecast for the current financial year (FY24) to 5.9 per cent from 6.1 per cent earlier, a Reserve Bank of India (RBI) report said on Friday that the multilateral body might “encounter forecast error” as there could be positive … Read more
2023-04-19 14:39:27 As India rises to fulfill its dream of becoming a world power, it has scored another first — it’s now the world’s most populated country. India has overtaken China, according to the UN data released Wednesday. India’s population surpassed 1.428 billion, slightly higher than China’s 1.425 billion, Bloomberg reported. Unlike India’s other global … Read more
The Indian economy today is transparent, open and watchable, Union Finance Minister Nirmala Sitharaman told the American business community on Tuesday making a strong pitch before them to come and invest in India and be part of the country’s amazing growth story. Addressing a luncheon meeting of the US-India Strategic and Partnership Forum, Sitharaman told … Read more
The value of the inter-state flow of goods in India increased to about 70 per cent of GDP in FY22 from nearly 55 per cent in FY18, taking into account movements of domestic and imported goods, shows a paper authored by Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council (PMEAC), signalling increasing economic … Read more
India’s central bank surprised financial markets Thursday by maintaining status quo on interest rates for the first time in 11 monthsas financial stability concerns outweighed those surrounding inflation. However, it also warned investors against misreading the unexpected ‘pause’ as precursor to a likely return of the easy-money era
GDP growth may have beaten MPC’s estimate of 6.3% in Q2: Economists Robust activity in services sector holds up 6.3% GDP growth in Q2 Indian states’ fiscal deficit rose nearly 79 per cent after lockdown: RBI Budget 2023-24: Centre to target higher capex but lower fiscal deficit Centre’s fiscal deficit touches 45.6% of Budget target … Read more
Emerging markets would require over $53 trillion for infrastructure financing, but countries need to develop a new long-term financing model, said Auguste Tano Kouame, country director, World Bank. Kouame said that the Indian government had done well, and reforms such as the National Infrastructure Pipeline and Production-Linked Incentive schemes are steps in the right direction. … Read more