India's economic growth is likely to reach pre-COVID-19 levels by the end of the 2021-22 fiscal as the GDP contraction in this financial year is expected to be less than 8 per cent, Niti Aayog vice chairman Rajiv Kumar said on Sunday. The Reserve Bank of India (RBI) has also revised its forecast of economic growth for the current fiscal year (2020-21) to (-)7.5 per cent as against its earlier forecast of (-)9.5 per cent.
Representatives from four states including Maharashtra and Karnataka will also be members of the panel.
The share of services in gross value added (GVA) in 2023-24 was the highest in Chandigarh (88.8 per cent), followed by Delhi (84.1 per cent), said a NITI Aayog report released recently.
India's newly formed Artificial Intelligence Governance and Economic Group (AIGEG) is set to advocate for a unified legal framework for AI companies, including developers of large language models and chatbot systems, alongside broader operational rules.
Chief ministers of states like Andhra Pradesh, Kerala and Karnataka were among those who raised the issue of loan waver scheme for farmers.
Haryana's Chief Minister Nayab Singh Saini reviewed the progress of the Haryana AI Development Programme (HAIDP), a Rs 474-crore initiative developed with the World Bank, focusing on AI skilling, startup incubation, and ethical AI governance.
The second meeting of the NITI Aayog's governing council, was, however, attended by Bihar Chief Minister Nitish Kumar.
Indian economy is expected to grow 10.5 per cent or more in the current fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Thursday. Speaking at a virtual conference organised by the Public Affairs Forum of India (PAFI), he also said that modernisation of the retail sector is very much on the cards. "India Purchasing Managers' Index (PMI) for both manufacturing and services has shown a very smart uptick last month. "This (Indian economy) will strengthen even further," he said. "I expect Indian economy to grow 10.5 per cent or higher in FY 22," he noted.
Bibek Debroy raised seven questions about the new institution.
The country's present growth rate is 7.6% and its economy is $1.7 trillion.
'AI will be bigger than the advent of the Internet or the harnessing of electricity.' 'India must embrace it with all its might,' says NITI Aayog CEO Amitabh Kant.
All elections in India should happen in a free, fair and synchronised manner to ensure minimum "campaign mode" disruption to governance, the government think tank said in its report released recently.
NITI Aayog member Arvind Virmani on Monday said India is set to become the fourth largest economy in the world by the end of 2025, an assertion which came days after NITI CEO BVR Subrahmanyam claimed India has already overtaken Japan to reach that spot. The International Monetary Fund (IMF), in its World Economic Outlook (WEO) report released in April had said that India is expected to be the fourth largest economy in the world with a GDP of $4.19 trillion in 2025, ahead of Japan.
The 16th Finance Commission, led by Arvind Panagariya, has recommended maintaining the states' share in central taxes at 41% for the five-year period starting April 1, 2026. The government has accepted this recommendation, with Rs 1.4 lakh crore allocated to states for FY 2026-27 as Finance Commission Grants.
Trinamool Congress leader Derek O'Brien has challenged Prime Minister Narendra Modi's claims about India's progress, citing poverty statistics and West Bengal's economic growth.
The Centre intends to consolidate the 44 central labour laws into 5.
The meeting was attended by 26 participants including Chief Ministers and Lt Governors of UTs, he said while briefing the media.
Niti Aayog has come out with an initiative to improve governance in states.
Experts at the Mosambi Climate Conference (MC2) emphasized the importance of incorporating digital architecture into the energy ecosystem for achieving significant climate transformation.
India's new manufacturing project announcements more than halved in the fourth quarter of FY26, falling 60 per cent sequentially and 78 per cent year-on-year to approximately 1.7 trillion, driven by global uncertainties, geopolitical conflicts in West Asia, and existing unutilised manufacturing capacity.
A top government official says that while India has made significant progress in renewable energy, technical issues are hindering large-scale implementation. The government is working on solutions such as grid flexibilisation and battery storage.
The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, had several notable announcements to usher in halcyon days, says Mukesh Butani.
The services sector employs 188 million people but remains highly informal, trapping most workers in low-wage jobs without social protection.
In a communication sent to Kumar, the EC asked him to be cautious in future while making statements.
'Monsoon is the pran (life) of our water system.' 'A weak monsoon will have a very negative impact on crops and people's lives.'
Planning Commission had got into a big controversy on this issue.
Upgrading capabilities in manufacturing and logistics and bridging the gap between rural and urban incomes are some of the structural challenges that India needs to address, according to a document prepared by NITI Aayog. In the document titled 'Vision for Viksit Bharat @ 2047:An Approach Paper, the Aayog said India needs to avoid the middle-income trap and carefully work towards breaking out of it.
Aayog feels expansion of the lowest base will enable more people to pay taxes.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
Cabinet approves Khelo Bharat Niti, says it will bring India into top-5 of world sports
India has become the world's fourth largest economy, overtaking Japan, according to NITI Aayog CEO B V R Subrahmanyam. He cited IMF data, stating that India's economy is now larger than Japan's, with a USD 4 trillion GDP. Subrahmanyam also highlighted the favorable geopolitical and economic environment for India, predicting that within 2.5-3 years, India will become the third largest economy.
'We will give Rs 25,000 to parents having a second child or more at the time of delivery itself.'
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
'India's farmers will be unable to compete with the US, given the subsidies that the latter provides its farmers.'
India should resist knee-jerk responses to tariff volatility in the US and instead use the current geopolitical churn to build manufacturing scale at home, former G20 Sherpa and former chief executive officer of NITI Aayog Amitabh Kant said on Wednesday.
India is already a heavyweight in global farm trade in pockets such as rice exports, but experts are urging a pivot from a subsidy- and procurement-driven mindset to a productivity and nutrition strategy that still shields farmers from volatility.
He will replace Amitabh Kant, who will demit office on June 30. Iyer has been appointed for two years or until further orders, whichever is earlier, the personnel ministry order stated.
The government has extended the tenure of the 16th Finance Commission by one month till November 30. The 16th Finance Commission was constituted by the government on December 31, 2023, with former Niti Aayog vice-chairman Arvind Panagariya as its Chairman.
Making India a developed nation by 2047 is an ambition of every Indian, and states can play an active role in achieving this aim as they are directly connected with the people, Prime Minister Narendra Modi said on Saturday. Modi is chairing the 9th Governing Council meeting of NITI Aayog.
The food delivery platform sector in India employed 1.37 million workers in the financial year 2023-24 (FY24) and is growing at a compound annual growth rate (CAGR) of 12.3 per cent, estimates a new report released by the Delhi-based think tank National Council of Applied Economic Research (NCAER).
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances