The government and Reserve Bank have been maintaining that the Indian economy will grow by six percent growth with upward bias.
He says he does not share IMF's pessimism.
The government should use interest rates for more than administrative measures to handle economic growth in the long term.
Retail inflation in February has come down to a 25-month low of 8.1 per cent.
There is a "misperception" among the administration around deregulation, wherein digitisation is confused with deregulation, Chief Economic Advisor V Anantha Nageswaran said on Tuesday. Speaking at an event organised by alternative investment industry's lobby grouping IVCA in Mumbai, Nageswaran stressed that what is essential is to do away with needless regulations, whether they are to be complied with online or offline.
Indian economy is poised to do better on the back of reforms undertaken by the government and is expected to clock a 6.5-7 per cent growth in the remaining part of the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday. Addressing reporters here after the tabling of the Economic Survey in Parliament by Finance Minister Nirmala Sitharaman, Nageswaran said that by and large, inflation is likely to be "well behaved" in FY2023-24 barring headwinds. "My optimism is that in the coming decade, rest of the decade, the potential GDP growth, without taking into account export potential, because global economy is still rife with uncertainty, the growth rate would be around 6.5 to 7 per cent, rather than between 6 per cent and 6.5 per cent," he said.
S&P Global Ratings on Wednesday said the impact of the US reciprocal tariff will be limited on India as the economy is domestically oriented with less reliance on exports. YeeFarn Phua, Director, Sovereigns and International Public Finance Ratings, Asia-Pacific S&P Global also said India will clock a 6.7-6.8 per cent GDP growth over the next two years.
'Not only jobs are not being generated, but people are also losing jobs.'
The government did not tell us why our economy had imploded. The prime minister simply stopped speaking on the subject, asserts Aakar Patel.
Quick commerce (qcom) industry is poised to lead gig workforce hiring in 2025, propelled by a surge in demand for faster deliveries, expansion by existing players, entry of new competitors, and evolving consumer preferences in the post-pandemic era, according to industry experts. The qcom industry currently employs nearly 260,000 people - around 200,000 delivery personnel and 60,000 dark store workers, according to TeamLease Staffing.
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
Chinese manufacturing prowess and its dominance in the strategic sector will have a bearing on India's growth projection in the medium term and its march to become a developed nation by 2047, the Economic Survey said on Friday. The Survey has said India needs to grow at 8 per cent for about two decades to become a developed nation by 2047, but it will have to face challenges from global developments and reliance on Chinese imports.
Bollywood's biggest stars arrived at the Jio World Convention Centre in Mumbai on May 1 to take part in the inaugural edition of World Audio Visual and Entertainment Summit (WAVES) 2025.
This was India's seventh defeat in their last nine matches as their poor run in Test cricket continues following successive series defeats against New Zealand at home and in Australia.
Uttar Pradesh Chief Minister Yogi Adityanath has hit out at the Opposition for initiating impeachment notices against Rajya Sabha chairman Jagdeep Dhankhar and Allahabad high court's Justice Shekhar Kumar Yadav, saying 'whoever speaks the truth' is threatened in this way.
Following are the highlights of the Economic Survey 2022-23 tabled in Parliament on Tuesday
The "weaponisation" of economic activity - through tariffs and sanctions - is now a reality, with countries leveraging these tools strategically, External Affairs Minister S Jaishankar said at the Raisina Dialogue recently.
Religious tourism witnessed 1,439 million tourists in 2022, generating Rs 1.34 trillion in revenue.
Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world's third-largest economy by 2027-28. Currently, India is the fifth largest economy "so it's another five years.We are already in (the year) 2023. "So 2027-28, India should be the third-largest economy," Panagariya, Columbia University Professor and former Vice Chairman of NITI Aayog, told PTI in an interview in New York.
Anmol Singh Jaggi and Puneet Singh Jaggi, once hailed as rising stars in India's clean energy sector, are now facing serious regulatory action.
'India won't take anything from Pakistan lying down.'
IndiGo on Wednesday said it was exploring an earlier introduction of wide-body planes in its fleet to meet the growing demand for international travel. Industry sources said the airline was in talks with Norse Atlantic Airways to wet-lease six B787 planes in its fleet.
'A few answers for the reason of the crash will be known -- whether it was a technical fault, design issue, human error etc.'
Sebastian Coe, a contender for the International Olympic Committee (IOC) president's post, believes India's bid to host the 2036 Olympic Games is a "strong case" but acknowledges that the competition will be intense with several other countries vying for the honor. Coe, considered a frontrunner in the race to succeed Thomas Bach as IOC president, expressed his support for India's commitment to global sport and the Olympic movement.
The economc research council has projected Centre's fiscal deficit this financial year to be 5% of GDP.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
Countries like Qatar, and Saudi Arabia are also in the running for the 2036 Games hosting rights and it would take a significant effort from India to upstage their bids.
According to latest Central Statistical Organisation's estimates, the economy will grow at a rate of 5 per cent in the current fiscal -- the lowest in over a decade.
From high-end villas with private sommeliers to exclusive showcases at cultural centres to private sessions with Michelin-starred chefs and celebrities, hotel chains are pulling out all the stops
We must bring a laser focus on our own interests, and define our friends and foes more clearly instead of trying to live by somebody else's rules. We must grow up, think for ourselves, think India First, asserts R Jagannathan.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
The second and third quarters of FY10 are unlikely to see the economy expanding at the pace it did in April-June period, but that does not warrant a downward revision of growth forecast, Finance Minister Pranab Mukherjee said on Monday.
Indian economy should grow at eight per cent by 2020, Jagadish Shettigar, economic cell advisor of the Bharatiya Janata Party said on Wednesday.
Headline growth was quite weak heading into the Covid period but averaged 6.4 per cent and 6.7 per cent in the five years between FY16 and FY20 for GVA and GDP respectively, points out Abhishek Upadhyay.
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
For the home side, it has been a season of mixed returns so far. After early defeats to Royal Challengers Bengaluru and Mumbai Indians, KKR roared back to form in their last outing -- a commanding win over Sunrisers Hyderabad.
May help US steer clear of recession, although enough austerity would remain in place to likely keep economy growing at lackluster pace.
The Janata Dal (United), an ally of the ruling Bharatiya Janata Party (BJP), has sought an extension in the tenure of the Joint Parliamentary Committee (JPC) scrutinising the bills proposing simultaneous elections. The party argued that the committee, which has only met once, requires more time for extensive consultations. Meanwhile, the Lok Janshakti Party (Ram Vilas), another BJP ally, has demanded a "special industrial package" for Bihar, highlighting the state's low per capita income compared to the national average.
President Xi Jinping has said that no one can ever stop Taiwan's reunification with China as he signed off 2024 amid growing anxieties in the country over the continued slowdown of the economy and the return of Donald Trump, who has threatened to impose punitive tariffs and trade measures against Beijing in his second term.
