India's GDP for the three-month period ended September 30 grew 7.4%.
Singh also said that Indian troops are standing firm braving extreme weather and hostile forces to defend the country's territorial integrity.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
It is learnt that the US had recently presented two separate papers to India.
Higher rural incomes, pay commission benefits, and lower interest rates are key positives: Analysts
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
Markets ended higher for the second straight session mainly on the back of upbeat corporate earnings.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
The benchmark BSE Sensex reclaimed the 28,000 mark, spurting by 409 points or 1.4% at 28,114 and Nifty settled above the 8,500 mark at 8,532, gains of 111 points.
The main factor boosting production was a sustained rise in new work inflows.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
The rupee is expected to remain volatile in the new financial year.
The market is clinging to support above the 8,000 mark and hitting resistance above 8,150.
Inflation based on the Wholesale Price Index cooled to a 5-year low of 1.77 per cent in October driven by softening prices of fuel and food items.
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
Sources had earlier said Modi and Putin would also deliberate on impact of US sanctions on import of crude oil from Iran.
Modi also made a call for European Union unity and said India would play a positive role in enhancing that through Germany.
A weaker rupee might stimulate Indian exports and nullify some of the effects of Chinese devaluation.
The RBI is understood to be dithering since it would want more clarity on the cost of the fiscal policies the new government would undertake before it decides to cut rates, even though it has pencilled in a lower gross domestic product growth rate for this fiscal year.
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
Given that there are hundreds of players in the shadow banking space, it's hard to make a credible estimate of potential NPAs. That creates more scope for panic, says Devangshu Datta.
Facebook -- which counts India among its largest markets with over 300 million users -- has been in the eye of a storm after a Wall Street Journal (WSJ) report alleged that the social media platform's content policies favoured the ruling party in India. The report had accused Facebook of ignoring posts containing hate speech by BJP MLA Raja Singh. Since then, the ruling BJP and Congress have been trading barbs over the social media giant's alleged political bias.
Although the first woman to hold the position of chief economist at IMF, it would be wrong to see her appointment through the lens of gender
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
The new bond was changing hands at 7.72 per cent.
'For its part, Pakistan often gives safe haven to agents of chaos, violence, and terror.'
IT majors along with metal names Sesa Goa and Hindalco buck trend.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
Official talks were held between Modi and Seikh Tamim for multi-sectoral partnership and strengthening of Indo-Qatar ties following which the agreements and Memorandums of Understanding were signed on the second day of the Prime Minister's visit.
Most forecasts do not have a track record of transparency and accuracy
Western drugmakers, including Pfizer Inc, Novartis AG, Roche Holding AG and Sanofi SA, covet a bigger share of the fast-growing Indian drugs market.
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
In Their Shoes is heartwarming, says Sukanya Verma.
Moon Jae-in's visit will play a crucial role in exploring complementarities between India's Act East policy and South Korea's New Southern policy, says Dr Rahul Mishra.
Here is the full text of the joint statement issued by India and the US.
A rapid fall in crude oil prices has meant the RBI is a year ahead of its inflation-targeting schedule
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
Even as India continues on the priority watch list of the Office of the US Trade Representative, strong voices from Washington, DC, have spoken out in favour of India, reports Aziz Haniffa/Rediff.com.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
