NEW DELHI : The World Bank has estimated that India will need to grow 7.8% on an average over the next 22 years to become a high-income economy by 2047 and underlined the need for a series of reforms to achieve the goal.The latest India Country Economic Memorandum, released on Friday, said India’s growth at…
NEW DELHI: Economic growth is estimated to have rebound in Oct-Dec quarter (Q3) of the current financial year, led by a revival in govt spending and improvement in some key indicators.Economists estimate growth in Q3 to be in 6.2-6.4% range, higher than the seven-quarter low of 5.4% in July-Sept. Growth in July-Sept was slower than…
India is poised to achieve a remarkable milestone in its economic journey, with exports of goods and services projected to surpass $800 billion in the current fiscal year, said commerce minister Piyush Goyal on Friday. This anticipated figure not only marks a significant increase from the previous year’s total of $778 billion but also reflects…
MUMBAI: India’s economic growth is likely to improve in the second half of the current fiscal, driven by festive activity and an upswing in rural demand, RBI’s state of the economy report said. It also expects a moderation in the prices of food items, including rice, pulses, and vegetables.“Going forward, high-frequency indicators available so far…
When he took over the reins of the government for a third consecutive term this summer, there were two key issues PM Narendra Modi had to address urgently—inflation and unemployment. They are believed to have cost his government a majority in the Lok Sabha election. However, five months into Modi 3.0, a third challenge seems…
India’s financial landscape has seen a remarkable growth in investment spending since independence, particularly over the last decade during which more than half of the $14 trillion invested. A report by Motilal Oswal revealed that in the past 10 years, $8 trillion has been injected into the economy, to assist the country’s rapid expansion and…
One of the narratives of the Bharatiya Janata Party on the eve of the general election in May-June this year was that India, under the Narendra Modi government, was beginning to claim her rightful place in the world. It was growing at 7 per cent, was the fastest growing major economy, was poised to become…
India’s economic growth requires “far more affordable” bank interest rates, the finance minister said on Monday, adding New Delhi was committed to measures to ensure the economy remained on course. “At a time when we want industries to ramp up and build capacities, bank interest rates will have to be far more affordable,” the minister,…
