Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
The Economic Survey states that the rationalisation and reprioritisation of subsidies through better targeting would play a vital role in fiscal consolidation and in targeting expenditure more towards inclusive development.
Among the metros, people in Delhi are the happiest while those in Mumbai are the least happy.
President Mohamed Muizzu on Wednesday said by bolstering the defence capabilities of the Maldives, the country will soon reach a point where there is no 'foreign' military presence, weeks after he sought the withdrawal of Indian defence personnel from the archipelago nation.
They, however, remain cautious in resuming aggressive capital spending.
Chief economic advisor V Anantha Nageswaran on Tuesday said Indian economy will grow at over 7 per cent, down from above 8 per cent of growth rate projected in January. He, however, said that the economic momentum and the animal spirits are "unmistakable". "India's own growth rates have come off the projections made in January down to about 7-plus per cent for the current financial year," Nageswaran said speaking at Global Fintech Fest event in Mumbai.
The recovery seen in the increased economic activity till September or October is running out of steam. Labour statistics indicate a substantial slowing down of the economy in November, notes Mahesh Vyas.
Rediff.com's data journalists have visualised the National Sample Survey Office (NSS 66th round, July 2009-June 2010 and 68th round, July 2011-June 2012) data into an interactive map.
Altogether eight teams comprising six members each entered Gobindpur gram panchayat area in Jagatsinghpur district and conducted socio-economic and forest land survey without police protection, a senior official said.
Facing a possible slowdown in the face of a sluggish growth in developed economies, especially in the US, the Economic Survey on suggested on Thursday a series of reforms including hiking FDI in insurance and retail sector to sustain the 9 per cent rate of economic expansion.
The budget session of the Parliament begins today.
A survey by industry body Ficci has lowered the country's economic growth forecast for 2013-14 fiscal to 5 per cent, from 6 per cent projected in July, indicating tough times ahead.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
The Reserve Bank had identified 12 accounts, each having more than Rs 5,000 crore of outstanding loans accounting for 25 per cent of total NPAs or bad loans of banks, for immediate referral for resolution under the bankruptcy law.
Chief Economic Adviser K V Subramanian on Wednesday said India is expected to hit a growth rate of 6.5-7 per cent in 2022-23 and accelerate further to 8 per cent in the subsequent years on the back of reforms undertaken by the government. He also said the government is expected to meet the fiscal deficit target of 6.8 per cent in the current fiscal despite pressure on revenue collections.
One in six gave up vacation days last year because they did not use them.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
'With the community's rapid growth during the most difficult economic period our country has faced in decades, South Asians are living in severely overcrowded housing conditions, are at high-risk of displacement, and face great barriers to achieving economic growth,' notes the report.
The Survey estimated that a UBI that reduces poverty to 0.5 per cent would cost 4-5 per cent of GDP, assuming that those in the top 25 per cent income bracket are not part of the loop.
The Economic Survey has acknowledged the measures taken by the UPA government on the macro stabilisation front and the successes achieved in containing the current account deficit and reducing the fiscal deficit.
Robots and artificial intelligence machines may find their way to the corporate board rooms in the next ten years
The heightened activity level in the M&A landscape during 2018 is set to spill over to 2019 as deal fundamentals are expected to remain robust, says Mahesh Singhi.
The Economist Intelligence Unit survey, commissioned by Dubai Holding, found that almost 60 per cent respondents believe that capitalism is entering a new era of lower risk tolerance, higher regulation and slower growth.
Rediff.com's data journalists have visualised the National Sample Survey Office (NSS 68th round, July 2011-June 2012) data into a interactive map.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
The findings, released at the World Economic Forum meeting in Davos on Friday, come at a time when the global economy is going through stressful times.
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
The survey was conducted by research firm Ipsos.
Index measuring this at six-quarter high; however, economic & political volatility a concern.
Both across India and the four regions - north, south, east and west - it is found that the absolute prices of a vegetarian thali have decreased significantly since 2015-16 though the price has increased in 2019.
Bihar Chief Minister Nitish Kumar on Tuesday announced his intent to raise quotas for Other Backward Classes, Scheduled Castes and Scheduled Tribes in the state, saying a legislation to the effect is likely to be brought in the ongoing assembly session.
China's eastern metropolis of Shanghai, the economic hub of Hong Kong and the sprawling city of Chongqing have been named the 'sexiest cities' in the country because of their economic prosperity, urban development, charming buildings and beautiful girls, according to a new survey.
It bounced back from the historic low of 41 recorded in the April-June quarter, during the initial days of the pandemic and lockdown.
The report on the Economic Freedom of the States of India is the latest in a series of annual surveys on the economic freedom of Indian states, which started in 2004. The latest report takes 2009 as the period under review.
'The more educated a young person is, the higher the chances of him or her remaining unemployed.'
Retirement planning and secondary sources of income have become key financial priorities for Indians, as they look to prepare for higher inflation, health concerns, and economic slowdown risks. PGIM India Mutual Fund's Retirement Readiness Survey shows that at present 67 per cent Indians have their retirement plan in place, compared to 49 per cent in 2020. "The pandemic was probably the factor making people realise the importance of saving and investing, leading to an increase in people planning for it.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
The economic slowdown has taken its toll on consumer confidence. India has fallen from the top to third in the latest round of the Nielsen Global Consumer Confidence Survey and now ranks behind Indonesia and Denmark. It is the largest bi-annual study of its kind and is carried out on more than 25,000 Internet users in 50 countries.
Among the Sensex firms, JSW Steel, Tata Steel, Tech Mahindra, Infosys, Wipro, Tata Consultancy Services, Nestle, HCL Technologies, HDFC Bank and Maruti were the major laggards. IndusInd Bank, ITC, Bharti Airtel and State Bank of India were among the winners.
