ADB lowers India's FY25 growth forecast to 6.5% from 7%
Dec 11, 2024, at 02:45 pm
New Delhi: The Asian Development Bank (ADB) on Wednesday revised its economic growth forecast for India, lowering it to 6.5% for the current financial year, down from the earlier estimate of 7%, media reports said.
RBI to announce key interest rate decision tomorrow morning as 3-day MPC ends
Dec 06, 2024, at 04:37 am
Mumbai: The Reserve Bank of India (RBI) is set to announce its interest rate decision on Friday morning following the conclusion of a three-day meeting of the Monetary Policy Committee (MPC), amid persistent inflation and sluggish GDP growth.
India's service PMI strong at 58.4 in Nov despite decade-high price surge
Dec 05, 2024, at 04:03 am
New Delhi: India's services sector maintained robust growth in November despite facing the sharpest price rise in over a decade, according to a business survey.
Declining wages in India hit economic growth
Nov 30, 2024, at 05:35 am
New Delhi: India witnessed a contraction in wages last quarter for the first time since the pandemic, slowing the economy as consumers reduced spending amid a corporate profit slump, reported Bloomberg News.
India's fiscal deficit reaches 46.5% of the FY25 target
Nov 30, 2024, at 02:00 am
New Delhi: India's fiscal deficit for the first seven months of the 2024-25 financial year reached 46.5% of the full-year target, according to data released by the Controller General of Accounts (CGA) on Friday.
India's GDP growth slows to seven-quarter low of 5.4 percent
Nov 29, 2024, at 11:58 pm
India's gross domestic production (GDP) has slowed down to 5.4 percent year-on-year in the July-September quarter of the current financial year 2024-25, as per government data released on Friday.
Nov 16, 2024, at 07:20 am
Mumbai: India's goal of becoming a $7-trillion economy by 2030 is achievable under the "strong" leadership of Prime Minister Narendra Modi, according to Chairman and CEO of JP Morgan Jamie Dimon.
Moody's says Indian economy in a favourable state, forecasts 7.2% growth in CY 2024
Nov 15, 2024, at 10:28 pm
New Delhi: The Indian economy is currently in a favourable position, combining strong growth with moderating inflation, according to Moody's Ratings, which forecasts GDP growth of 7.2% for calendar year 2024 and 6.6% for 2025.
India’s industrial output rebounds with 3.1% growth in September, driven by manufacturing
Nov 13, 2024, at 06:08 am
New Delhi: India's industrial output increased by 3.1% in September 2024, primarily due to a recovery in manufacturing activity, according to data from the Ministry of Statistics and Programme Implementation.
India's Oct retail inflation peaks 12-month record to 6.2%
Nov 13, 2024, at 12:54 am
New Delhi: India’s retail inflation reached a 14-month peak of 6.2% in October, up from 5.5% in September, driven primarily by escalating food inflation due to rising vegetable prices.
October inflation rate likely to exceed September’s 5.5%: RBI Governor
Nov 07, 2024, at 02:31 am
New Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das cautioned that October's inflation rate is expected to exceed the 5.5% recorded in September.
India leads global growth with robust investment and consumption: IMF Report
Nov 02, 2024, at 03:18 am
New Delhi: India continues to lead as the world’s fastest-growing economy, driven by strong investment and private consumption, according to the International Monetary Fund's (IMF) Asia-Pacific Regional Economic Outlook released on Friday.
India’s H1 fiscal deficit at Rs 4.75 lakh crore, narrows to 29.4% of FY25 target
Oct 31, 2024, at 01:51 am
New Delhi: India’s fiscal deficit for the first half of the current fiscal year, ending in September, reached Rs 4.75 lakh crore, or 29.4% of the Budget Estimate (BE), according to the Controller General of Accounts (CGA) data released today.
Uber's ride-hailing service to generate Rs 36,000 cr worth of economic activity in India in 2024
Oct 24, 2024, at 10:27 pm
New Delhi: Uber's two- and three-wheeler services, Uber Moto and Uber Auto, are projected to generate up to Rs 36,000 crore in economic activity in India in 2024, according to the company's 2024 India Economic Impact report.
IMF keeps India's FY25 growth forecast unchanged at 7%
Oct 23, 2024, at 02:26 am
New Delhi: The International Monetary Fund (IMF) has maintained India's GDP growth forecast for FY25 at 7 percent, according to its latest World Economic Outlook released on October 22.
India's gaming industry set to double by 2028: PwC report
Oct 16, 2024, at 07:19 am
Mumbai: India’s gaming industry, which encompasses both real money gaming (RMG) and casual gaming, is projected to double its revenues over the next four years from its current base of Rs 33,000 crore.
India’s digital revolution set to create a $1 trillion economy by 2028: Report
Oct 03, 2024, at 06:30 am
New Delhi: India’s financial ecosystem has undergone a significant transformation, driven by deep internet penetration, affordable 4G and 5G services, and a range of government digital initiatives.
India must do more to boost manufacturing and job creation: Raghuram Rajan
Sep 28, 2024, at 12:07 am
Mumbai: India has made significant progress in infrastructure over the past decade, but more needs to be done in other sectors to enhance local manufacturing and job creation, former RBI Governor Raghuram Rajan said on Thursday.
Govt to raise Rs 6.61 lakh cr via market borrowings in H2 FY 2024-25
Sep 27, 2024, at 05:33 am
New Delhi: The Central government, in collaboration with the Reserve Bank of India (RBI), announced on Thursday its plan to raise Rs 6.61 lakh crore through market borrowings during the October-March period of the current financial year 2024-25.
Indian economy to be 3rd largest by 2030-31, growing 6.7% annually: S&P Global's forecast
Sep 20, 2024, at 06:30 am
New Delhi: The Indian economy is projected to grow at an annual rate of 6.7% between now and 2030-31, becoming the third-largest economy in the world, according to S&P Global's forecast on Thursday, media reports said.
India can achieve sustainable growth of up to 8% in the coming years: RBI Governor Shaktikanta Das
Sep 16, 2024, at 08:26 pm
Mumbai/IBNS: Reserve Bank of India (RBI) Governor Shaktikanta Das said India has the potential to achieve sustainable economic growth of up to 8 percent in the medium term.
August retail inflation at 3.65%, below RBI's 4% target
Sep 13, 2024, at 04:03 am
New Delhi: India’s retail inflation rose to 3.65% on an annual basis, up from a five-year low of 3.54%, according to government data released on Thursday.
World Bank's latest report ups India's growth forecast for FY25 to 7 percent
Sep 03, 2024, at 10:12 pm
The World Bank on Tuesday upgraded India's growth forecast for the FY24/25 to seven percent, giving a boost to the country's financial journey.
Moody's upgrades India's GDP forecast to 7.2% for 2024 and 6.6% for 2025
Aug 31, 2024, at 05:34 am
Mumbai: Moody's on Thursday raised India's economic growth forecast to 7.2% for 2024 and 6.6% for 2025, up from its previous estimates of 6.8% and 6.4%, respectively, citing robust and broad-based growth.
GDP growth slowed in first qtr of FY25 due to elections: CEA Nageswaran
Aug 31, 2024, at 03:14 am
New Delhi: India's GDP growth slowed in the first quarter of the current fiscal year due to the general elections and a reduction in government capital spending during that period, according to Chief Economic Advisor (CEA) V Anantha Nageswaran.
Goldman Sachs cuts India's growth forecast by 20 basis points
Aug 24, 2024, at 03:18 am
Mumbai: Goldman Sachs Group Inc. has slashed India's growth forecast for this year and the next by 20 basis points, citing a reduction in central government spending, Bloomberg reported.
'Rationalise and simplify': IMF's Gita Gopinath gives tips to increase GST revenue
Aug 18, 2024, at 07:13 am
New Delhi: Emphasising that structural reforms should be continuous, Deputy Managing Director of the International Monetary Fund (IMF) Gita Gopinath said that India should continue to rationalise and simplify its Goods and Services Tax (GST) system to boost revenue, media reports said.
Amid global economic downturn, Indian IPO market booms
Aug 07, 2024, at 11:15 pm
Mumbai: India's dynamic initial public offering (IPO) market is forging ahead with larger debuts, seemingly unaffected by this week's global equity downturn.
Coal sector grows by 14.8% in June; highest in 8 core sectors
Aug 03, 2024, at 06:35 am
New Delhi: The coal sector showed the highest growth of 14.8% among the eight core industries in June 2024, according to the Index of Eight Core Industries (ICI) with a base year of 2011-12, released by the Ministry of Commerce & Industries.
India's 8 core sectors grow lowest in 20 months
Aug 01, 2024, at 01:42 am
New Delhi: The growth in the production of eight key infrastructure sectors in India slowed to a 20-month low of 4 percent in June, according to official data released on Wednesday.