Goldman cut India's growth estimates to 6.6 per cent from 7.2 per cent for the fiscal year ending March 2013, while BofA revised its forecast to 6.5 per cent from 6.8 per cent.
Richest Indian Gautam Adani and mining baron Anil Agarwal on Sunday led India Inc in paying tributes to veteran stock market investor Rakesh Jhunjhunwala, who passed away early Sunday morning. "Extremely saddened by the untimely passing away of the most legendary investor that India has had. "Shri Jhunjhunwala inspired an entire generation to believe in our equity markets with his brilliant views.
India's GDP growth will slow down to 5.5 per cent in FY24 from the 6.9 per cent expected in the current fiscal 2022-23, a Swiss brokerage said on Wednesday. The slowdown was attributed to slowing global growth and tightening of monetary policies in the report by economists at UBS India. It said India will be among the "lesser affected economies" in the world, but made it clear that the world's fifth largest economy is not immune from global headwinds.
We dance on every small achievement and forget the long-term objectives: Ajit Gulabchand, MD, Hindustan Construction Company.
India Inc said policymakers should take doable steps to revive fixed investments and production of capital goods
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
Chief Economic Adviser V Anantha Nageswaran on Thursday said cryptocurrencies are akin to 'a world of Caribbean pirates' in the absence of a centralised regulatory authority and are yet to pass the test of a fiat currency. He said that the government is pursuing a 'high-wire balancing act' to ensure that the gains in growth, inflation, and rupee stability of the last four years are not frittered away. He said the recent development in Terra-Luna cryptocurrency, which witnessed a massive meltdown last month, is a 'very important cautionary tale'.
The ongoing economic travails in India arise from a combination of severe macroeconomic difficulties and a sharp deceleration in the trend rate of economic growth.
According to McKinsey & Company's June Economic Conditions Snapshot, executives' expectations for their national economies have declined since March and some respondents expect worsening conditions over the rest of 2011.
India's growth in the last three financial years has averaged just 1.9%. It is natural to project rapid growth from this low base. Crucial to that would be the assumption that the economy has suffered no lasting damage from the pandemic, observes T N Ninan.
So is India actually growing? Is the growth real or imaginary?
She also took a swipe at the Bharatiya Janata Party over its defeat in the just-concluded Himachal Pradesh assembly elections, saying the ruling party's president could not hold on to his home state. "Who is the Pappu now?" she asked.
Trade deficit falls, inflation steady, but industry is still frozen.
If Indian money looks around at the economic climate and decides instead to go to Latin America, West Asia, or China, then why would foreign money's decision be any different?
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
The government should mend its ways before weak governance starts impacting India's economic growth.As we come to the end of an eventful year, it is possible to notice an increasing dichotomy between the priorities of a voter and those of our political masters.
The Indian Army will not let China change the status quo along the Line of Actual Control (LAC) "unilaterally" and its current deployment along the frontier was not seen before, External Affairs Minister S Jaishankar said on Monday, rejecting Congress leader Rahul Gandhi's criticism of the government's handling of the border row.
UN Secretary-General Kofi Annan lauded the rapid economic progress made by India, China, Russia and Brazil but said further political, economic and other reforms are essential to 'distribute the gains more evenly' and sustain the pace.
Many investors want to exit equities now and re-enter when they begin to rise. Such timing is difficult to pull off.
Maybe the new methods of measuring GDP helped us get an accurate picture.
The RBI issued a fairly gloomy forecast in its monetary policy statement last Friday.
'We suggest investors with suitable risk appetite to consider allocating 40-50 per cent in large-caps, 25-30 per cent of funds in quality mid and small-caps and the rest in debt and high yield products.'
Approximately 12 per cent of India's over 1 billion people still lack access to safe drinking water and almost half of India's 626 districts were drought-stricken in 2009.
Strange souls see a research report on an Indian conglomerate as part of a vast conspiracy to Keep India Down. There is only one possible response to this: Grow up. Nobody in the West cares enough about India or Adani to put all the effort into creating a giant conspiracy that links together BBC documentaries and short-sellers, points out Mihir S Sharma.
Trump lauds Modi, saying he has been working successfully to bring the vast country and its people together.
Increasing female economic participation by ensuring equal work opportunities for women and expanding access to education and skills training for female entrepreneurs.
The economic think-tank in its earlier projection had suggested that the Indian economy was likely to grow at 5.7 per cent in 2014-15.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
Raising slogans, members of the BRS, Left parties and some members of the Congress walked out of Lok Sabha in protest as the prime minister was speaking.
'...Market-linked debentures, high-value insurance, exemptions from capital gains by investment in real estate, etc.' 'So, there are a number of measures directed at collecting a fair share from higher income individuals.'
The current global downturn has made India even more desirable to Non-Resident Indians who are bullish about the country's growth and continue to invest heavily in the country of their origin, a report said.
Domestic factors are a bigger constraint for India's shift to a faster growth trajectory than the global factors, CRISIL's chief economist says.
There is a new energy in 2015 and a new breed of young, ambitious innovators and entrepreneurs who are coming up with creative solutions to many of India's problems, says Mallika Kapur.
'It was more than ego.' 'It carried with it a sincere belief that he was the quintessence of the country, that the country's destiny was irrevocably intertwined with his destiny.' An excerpt from T J S George's The Dismantling of India: In 35 Portraits.
India has been relatively insulated from the severe headwinds in the West. However, with a third of the global economy expected to slip into recession in calendar year 2023, the impact will strongly be felt on India's exports and trade economy, leading economists said in a panel discussion at the Business Standard BFSI Insight Summit in Mumbai on Wednesday. The panel comprised former Reserve Bank of India executive director and former Monetary Policy Committee member Mridul Saggar, State Bank of India Chief Economic Advisor Soumya Kanti Ghosh, Citibank India Chief Economist Samiran Chakraborty, ICRA Chief Economist Aditi Nayar, and IndusInd Bank Chief Economist Gaurav Kapoor. The topic of the panel discussion was No recession in sight: Is India decoupled from developed economies?
S&P Global Ratings on Thursday cut India's growth forecast for the current fiscal to 9.5 per cent, from 11 per cent earlier, and warned of risk to the outlook from further waves of COVID pandemic. The agency lowered the growth outlook saying that a severe second COVID-19 outbreak in April and May led to lockdowns imposed by states and sharp contraction in economic activity. "We forecast growth of 9.5 per cent this fiscal year from our March forecast of 11 per cent," S&P said.
Prime Minister Narendra Modi on Tuesday asserted that there is a "huge difference" between pre- and post-2014 India, saying the country is now moving ahead at an "unprecedented speed and scale" as he showcased the achievements of his term in power to the Indian diaspora in Indonesia.
Holding that popularity of language was linked with financial might of any country, Prime Minister Narendra Modi on Tuesday said that importance of Hindi was set to increase with India marching rapidly towards economic prosperity.
History shows that confidence is at its highest just before a fundamental change occurs.
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