The Central government’s debt is estimated to moderate to 57.2% of gross domestic product (GDP) in FY24 from 61.5% in FY21 when pandemic-related spending to provide succour to people and businesses led to a spike in its loan profile, the finance ministry said on Tuesday. Minister of state for finance Pankaj Chaudhary, in a written … Read more
India’s appeal as an investment destination remains strong amid global economic uncertainties, according to Manny Maceda, the Worldwide Managing Partner and CEO of Bain & Co. In an interview with ET he said, “India has always been a great, unique opportunity.” The International Monetary Fund (IMF) recently raised India’s GDP growth forecast for FY24 to … Read more
The Finance Ministry’s report said that core inflation was declining steadily while food inflation has eased. People shop on the eve of Dussehra (Dasara) festival, in Bengaluru, Karnataka. File India will remain the fastest-growing major economy in the world in 2023-24 fiscal on the back of strong domestic fundamentals and benign inflation expectations, a Finance … Read more
Krishna Srinivasan, director, Asia Pacific Department, IMF, said India and China are expected to jointly account for half the world’s growth in 2023 and 2024, with India’s share at 16% and the remaining being contributed by China. “India’s economic growth remains robust, driven by a large public capital expenditure push and resilient domestic demand,” said … Read more
The Indian economy is on a roll amid global turbulence, the Reserve Bank of India (RBI) said, retaining the growth forecast at 6.5% and inflation projection at 5.4% for the fiscal year. “In contrast with global trends, domestic economic activity exhibits resilience on the back of strong domestic demand,” RBI governor Shaktikanta Das asserted while … Read more
Goods and services tax (GST) collections rose 10.2% to Rs 1,62,712 crore in September, driven by a 14% growth in domestic transactions. The finance ministry as well as tax experts expect the collections to get a boost during October and November as the festival season kicks in. Besides, tighter regulation and the inclusion of online … Read more
Investors have about $2 trillion of funds available to invest, and about $100 billion to $150 billion of that is focused on India, according to Anu Aiyengar, JPMorgan Chase & Co.’s global head of mergers and acquisitions. “As we look at a combination of the inflows into the Indian market, as well as the exits … Read more
Retail inflation moderated to 6.83% in August from a 15-month high of 7.44% in July due to easing vegetable prices, offering a measure of relief to the Indian central bank and bond investors. Consumer Price Index (CPI)-based inflation, however, continued to exceed the Reserve Bank of India’s (RBI’s) target range of 2-6%. A Mint poll … Read more
A Mint poll of 22 economists had estimated the growth in gross domestic product (GDP) at around 7.8%. In the fourth quarter of 2022-23, GDP growth stood at 6.1% against a 4.4% growth rate witnessed in the preceding three months, according to data from the National Statistics Office (NSO). Real GDP at constant (2011-12) prices … Read more