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"The conditions are shaping up for an extension of a trend upshift in India's real GDP growth, backed by strong investment demand and upbeat business and consumer sentiments," the report states.
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ADB's flagship Asian Development Outlook (ADO) report, released on Wednesday, said India's economy grew 13.5 per cent year-on-year in the first quarter of 2022-23, reflecting strong growth in services.
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New Delhi: India’s economic growth is expected to remain in the range of 8 to 8.5 per cent in 2022-23 as against a projected growth of 9.2 per cent in the current financial year and a sharp contraction witnessed in 2020-21, according to the Economic Survey 2021-22 tabled in the parliament on Monday. “With the […]
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IMF scaling down India’s growth forecast is yet another grim reminder of the ongoing crisis and the tough recovery road ahead
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The sovereign credit ratings on India reflect the economy's above-average long-term real GDP growth, sound external profile, and evolving monetary settings, S&P Global Ratings stated.
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GDP growth in the current fiscal was estimated to be in double digits initially, but a severe second wave of pandemic has led to various agencies cut growth projections.
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Last week, the Reserve Bank of India (RBI) had projected real GDP growth at 9.5 per cent in 2021-22.
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The government may be waiting for the lockdowns to end before they can announce specific measures for the revival, which can have the best multiplier effect.
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Official data released on Monday said the economy grew at faster than expected at 1.6 per cent for the fourth quarter of FY21, resulting in a contraction of 7.3 per cent for the entire fiscal.
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Jhunjunwala, who is reported to be the largest individual investor in the domestic markets, also said the level of taxation on the equity markets is "reasonable" given the socio-economic conditions in the country.
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Core inflation is likely to see a more controlled rise in 2021, although food-price or fuel-driven inflation can become a recurring factor, weighing on household disposable income.
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In 2019, Prime Minister Narendra Modi envisioned to make India a $5 trillion economy and global power house by 2024-25.
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The agency had earlier forecast a 7.4 per cent contraction in 2020-21 GDP numbers.
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He hoped that the global rating agencies would retain India's sovereign rating at the existing levels.
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With regard to inflation, RBI Governor Shaktikanta Das said vegetable prices are expected to remain soft in the near term
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Faced with enormous uncertainty, India adopted a strategy of Bayesian updating to continually calibrate its response while gradually unlocking and easing economic activity.
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Fitch ratings said the revival of the reform agenda is among the Indian government's policy responses to the Covid-19 pandemic shock
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The report also believes that it would take seven quarters from the fourth quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms.
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We have now shrugged off the negative impact of the pandemic and are moving towards a sustained high growth trajectory in the coming years, said Niti Aayog Vice-Chairman
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The Monetary Policy Committee decides to keep repo and reverse repo rates unchanged