Hyderabad: India has the potential to become a USD 55 trillion economy by 2047 if state and central governments work hard to implement policies that will take the country’s growth from “what has been historically 7 % to 8% (in rupee terms)”, Krishnamurthy V Subramanian, Executive Director of the International Monetary Fund (IMF) said on … Read more
New Delhi: India’s logistics cost will come down to 9 per cent of GDP by April next year, Union Minister Nitin Gadkari said on Thursday. Addressing an event here, Gadkari further said the country’s exports will also increase when the logistics cost comes down to single digit. “Our logistics cost now is 16 per cent…It … Read more
भारत दुनिया में सबसे तेजी से आगे बढ़ती हुई अर्थव्यवस्था (India Fastest Growing Economy) बना हुआ है. वहीं प्रधानमंत्री नरेंद्र मोदी (PM Narendra Modi) के नेतृत्व वाली सरकार ने देश को विकसित राष्ट्र बनाने का टारगेट टॉप पर रखा है और इसके लिए 2047 तक की डेडलाइन तय की है. वहीं इस बीच हाल ही … Read more
New Delhi: The European Union‘s Carbon Border Adjustment Mechanism (CBAM) will impose additional 25 per cent tax on energy-intensive goods exported from India to the EU, a new report said on Wednesday. This tax burden would represent 0.05 per cent of India’s GDP, according to the report titled “The Global South’s response to a changing … Read more
Indian government expenditure needs to be focused on development given the growth needs and the interim budget intentions signal that the general government debt-GDP ratio could decline to 73.4 per cent by 2030-31, around 5 percentage points lower than the IMF’s projected trajectory of 78.2 per cent, a research paper by RBI showed. “With recalibration … Read more
BENGALURU: Indian consumer spending during this year’s festival season will be slightly better than in 2022, said economists polled by Reuters, but probably not enough to ramp up the speed of what is already the world’s fastest-growing major economy. The broadly optimistic survey data, taken together with expectations for 6.3% growth this fiscal year and … Read more
The world economy is on a precarious footing, says the World Bank as it forecasts a deceleration in global growth from 3.1% in 2022 to 2.1% in 2023. Its latest edition of the Global Economic Prospects report, published earlier this month, however, projects India’s growth for FY2024 at 6.3%, a healthy number against a bleak … Read more
The Reserve Bank of India (RBI) has said that the International Monetary Fund’s growth forecast for India might be off the mark. “Although too early to tell, most recent data arrivals suggest that the multilateral institutions – the IMF, in particular – might encounter forecast errors, with actual outcomes surprising them positively,” RBI said in … Read more
Mumbai: Clawing the economy back to an 8 per cent growth path will require bringing savings and investment rates closer to 35 per cent on a sustained basis, which were 30.2 and 29.6 per cent, respectively, in FY22, according to a report. As per India Ratings, a large part of investments will have to be … Read more
India can achieve the 7 per cent GDP growth in current financial year as projected by the National Statistical Office (NSO), Chief Economic Advisor V Anantha Nageswaran said today. The CEA said the country needs to grow at just 4-4.1 per cent in the March quarter to achieve 7 per cent real GDP growth rate … Read more