The Economic Survey 2022-23 (FY23), to be presented a day before Union Budget 2023-24 (FY24), is likely to project India's real gross domestic product (GDP) growth between 6 per cent and 7 per cent for FY24, Business Standard has learnt. The broader theme of the Survey could be on how India has dealt with two years of a global pandemic and the ongoing geopolitical disturbance, the strengths and weaknesses that emerged, and what lessons may be learnt. The much-awaited Survey will be the first one by Chief Economic Advisor V Anantha Nageswaran and his team in the finance ministry's economic division.
Cash-strapped Pakistan on Tuesday moved closer to securing a massive $11 billion economic bailout package from international donor agencies including the IMF, to revive the ailing national economy.
The world is in the face of a devastating impact due to the coronavirus pandemic and has clearly entered a recession, the International Monetary Fund said on Friday, but projected a recovery next year. "We have reassessed the prospects for growth for 2020 and 2021. It is now clear that we have entered a recession as bad or worse than in 2009. We do project recovery in 2021," IMF Managing Director Kristalina Georgieva told reporters at a news conference.
Kakar, a lawmaker belonging to Balochistan Awami Party (BAP), will lead a caretaker government until a new election later this year.
Gauba took chargeafter incumbent Rajiv Mehrishi retired from service.
Vithal, a 1950-batch IAS officer, died early on Friday morning due to old age ailments, his son Sanjay Baru, media advisor to former prime minister Manmohan Singh, told PTI.
Prime Minister Narendra Modi is in Hamburg, Germany for the G20 summit and it seems that NaMo is on a spree -- of handshakes that is. From China's Xi Jinping to Canada's Justin Trudeau, the PM has met them all and it appears he's having a really good time.
Qin, who recently succeeded Wang Yi, had a phone call at the request of Bilawal on January 9, a Chinese Foreign Ministry statement in Beijing said on Tuesday.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
Exports had recovered in November to grow at 0.59 per cent from a 12 per cent contraction in October.
Li is currently attending the WEF annual meeting in Davos in back drop of release of the annual GDP figures by China highlighting the continuation of the slowdown of the world's second largest economy.
It's hoped the negotiations can be wrapped up by August 20.
Indian capital markets joined the global sell-off sparked by China growth concerns
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
The Centre's capital expenditure (capex) outlay for the April-June quarter (first quarter, or Q1) of 2022-23 (FY23) could be close to Rs 1.5 trillion, Business Standard has learnt. As a percentage of full-year capex Budget Estimates (BE) of Rs 7.5 trillion, this could be at similar levels to the trends in the past few fiscal years. It is in the July-September quarter (Q2) of FY23 that capex is expected to pick up, when a bulk of the long-term capex loans to states are expected to be expended.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
He will be the eighth Deputy Governor to be made Governor at RBI
Mishra, a 1967 batch Indian Administrative Service officer from the Uttar Pradesh cadre, has served in various administrative field positions.
The unusual gift for a visiting foreign dignitary was presented to Mohammad during his first official visit to Islamabad.
Saudi Arabia has agreed to provide US$ 4.2 billion worth of assistance to cash-strapped Pakistan to support its economy, it emerged on Wednesday after Prime Minister Imran Khan held talks with Saudi Prince Mohammad bin Salman in Riyadh this week.
Doggedly persisting with its much-criticised zero-Covid policy, China has slipped deeper into the coronavirus quagmire as it reported a record 31,444 infections on Thursday with many of its cities, including Beijing, resorting to community lockdowns to stem the virus amid worsening wintery weather.
The summit is being attended by more than 30 heads of state and top officials from the European Union and invited guest countries and 14 heads of international organisations.
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
A high-tech Chinese research ship docked at the strategically important Hambantota port departed from Sri Lankan waters on Monday after a controversial six-day visit.
Shehbaz, 72, who was the consensus candidate of the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP), received 201 votes, 32 more than what was required to become leader of the House in the 336-member Parliament.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
