Mumbai, Noted banker KV Kamath, who now chairs the National Bank for Financing Infrastructure and Development (NaBFID), expects the digital sector to contribute a quarter of the incremental GDP by the time the economy becomes a USD 7 trillion giant by FY29. Currently, the contribution of the digital economy is a low 4 per cent, … Read more
NEW DELHI: India is ‘fairly’ confident it can meet its target to cut its fiscal deficit by nearly 200 basis points to 4.5% of GDP in the next three years, assuming there is no major global economic shock, a top government official told Reuters on Thursday. On Wednesday, the government in its 2023/24 budget set … Read more
With global agencies pegging India as a ‘shining star’ amid global turmoil, the Economic Survey presented in Parliament on Tuesday looks ahead to the medium term while concluding that the pandemic response and recovery phase is now over. 1. Survey sees economy growing a tad slower GDP growth seen in a 6.1-6.8% range with a … Read more
Rising domestic and external headwinds will more than halve the GDP growth to 4-4.5 per cent in the second half of FY2023, shaving off the better numbers in the first half, India Ratings said in its report on Tuesday. The agency, however, did not offer a full-year forecast. The Indian economy grew 9.7 per cent … Read more
The Q2 real growth figure of 6.3% isn’t completely unexpected. As the effect of the low base wore off, growth was bound to slow. There are two questions that remain. What’s growth likely to be in 2022-23 and what’s the trajectory of growth from 2023-24? For both, I think, the range is between 6.5% and … Read more
Chief Justice of India D.Y. Chandrachud met Gujarat and Telangana lawyers on Monday over the Collegium’s proposed transfers of their High Court judges. File picture. | Photo Credit: PTI Chief Justice of India, Collegium judges meet protesting Gujarat, Telangana High Courts’ lawyers over proposed transfers of their HC judges Chief Justice of India D.Y. Chandrachud, … Read more
The Indian economy is in good shape as the country’s GDP growth rate and foreign exchange reserve are high, former RBI Governor Bimal Jalan said on Thursday. Notwithstanding economic uncertainties triggered by the Russia-Ukraine war that is also impacting the global supply chain, Jalan said it is not going to affect India’s economic performance. “India’s … Read more
The National Council of Applied Economic Research (NCAER) reports that tourism in India won’t return to pre-pandemic levels until 2026. By Vinay K Mayer, In India, the tourism sector is expected to grow 6.9% annually to $460 bn by 2028, which is 9.9% of the GDP, according to the World Travel and Tourism Council (WTTC). … Read more
India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 per cent from the consensus 9.2 per cent projected earlier. The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year, will release the second advance estimate of national income on Monday. According to an India … Read more
In order to achieve USD 5 trillion GDP by FY’25, India needs to spend about USD 1.4 trillion over this period on infrastructure, according to the Economic Survey. During financial years 2008-17, India pumped in about USD 1.1 trillion on infrastructure. However, the challenge is to step up infrastructure investment substantially, the Economic Survey 2021-22 … Read more