Image for representation purpose only. File | Photo Credit: Getty Images India’s GDP is expected to moderate to 6.3%, as against earlier estimate of 6.6%, due to moderation in consumption in FY24, the World Bank said in a report on Tuesday. Growth is likely to be constrained by slower consumption growth and challenging external conditions, […]
Continue ReadingIndia’s trade deficit with China touched $71.56 billion in the first ten months of 2022-23. Image for representation | Photo Credit: Getty Images India’s trade deficit with China has touched $71.56 billion in the first 10 months of 2022-23, just $1.7 billion short of the record high of $73.31 billion in 2021-22, as per data […]
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Claims of a spike in poverty and inequality in India during the COVID-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas […]
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The Moody’s Corporation headquarters in Manhattan, New York, U.S. | Photo Credit: Reuters Moody’s Analytics on March 7, said India’s domestic economy, rather than trade, is its primary engine of growth and the slowdown in economic activity late last year will only be temporary. The government data released last week showed India’s gross domestic product […]
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Moody’s has revised its 2023 growth projections. Image for representational purpose only. | Photo Credit: Reuters Global rating major Moody’s Investors Service has scaled down its GDP growth forecast for India’s economy to 6.8% for 2022-23, from an earlier projection of 7%. At the same time, it has raised the growth projection for 2023-24 to […]
Continue ReadingTotal GST revenues between April 2022 and January 2023 stand at ₹14.9 lakh crore. File | Photo Credit: K.V.S. Giri India’s Goods and Services Tax (GST) revenues grew 12.7% in January 2023 to hit almost ₹1.59 lakh crore, the second highest monthly collections on record, as per revised figures from the Finance Ministry. Earlier estimates […]
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The Reserve Bank of India need not keep raising rates until prices fall as it risks overshooting the inflation-adjusted real rate, which at around 1% now is appropriate for the economy, an external member of the country’s monetary policy committee said. The 250 basis points of rate hikes since May 2022 need to be allowed […]
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Former Niti Aayog Vice-Chairman Rajiv Kumar. | Photo Credit: PTI India is likely to clock 6% growth rate next fiscal and the country can persevere with a high growth rate because of several reforms undertaken during the last eight years by the Narendra Modi Government, former Niti Aayog Vice-Chairman Rajiv Kumar said on February 19. […]
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United Kingdom MP Bob Blackman in Jaipur recently. | Photo Credit: PTI Noting that the British government regards India as a strong friend and a strong ally, United Kingdom MP Bob Blackman has said that India has done a remarkable job under Prime Minister Narendra Modi in transforming the economy and the country is on […]
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Illustration for representation | Photo Credit: Getty Images The Indian rupee ended 2022 as the worst-performing Asian currency with a fall of 11.3%, its biggest annual decline since 2013, as the dollar rocketed on the U.S. Federal Reserve’s aggressive monetary policy stance to tame inflation. The rupee finished the year at 82.72 to the U.S. […]
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