India’s exports rose to a three-month high of 3.12 per cent to USD 36.92 billion in January despite global uncertainties including the Red Sea crisis, while the trade deficit narrowed to a nine-month low of USD 17.49 billion, the government data released on Thursday showed. After recording negative growth for two months in a row, … Read more
Union finance minister Nirmala Sitharaman on Thursday tabled the white paper on the Indian economy in the Lok Sabha. The discussion on the 54-page document will take place on Friday. In her Interim Budget speech, the finance minister had announced that the Centre will come out with a white paper on the economy outlining the … Read more
While industrial output growth fell to an eight-month low of 2.4% in November, consumer price index (CPI)-based inflation rose 5.69%, its fastest pace in four months in December, the statistics ministry said. Though factory output points to a slowdown in manufacturing growth momentum in November, in the April-November period of this fiscal, it expanded 6.4%, … Read more
Describing 2023 as a year of ‘special achievements’, Prime Minister Narendra Modi on Sunday said the country is replete with self-confidence and the momentum should continue in 2024. Addressing the nation through the ‘Mann Ki Baat’ broadcast, Modi mentioned the G20 summit, passing of the Women’s Reservation Bill in Parliament, landing of Chandrayaan-3 on the … Read more
The wait for India’s new industrial policy just got longer with the government expected to take a fresh look at it following global supply chain shifts, greater urgency on the green agenda, and geo-political developments, two people aware of the matter said. Late last year, the Union commerce ministry had circulated the draft of Industrial … Read more
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