Indian Economy: News

04 Jul 2024

Inflation

Tax relief imperative? Why Budget 2024 needs standard deduction hike

India's Finance Minister Nirmala Sitharaman is anticipated to increase the standard deduction limit in the upcoming budget, potentially bringing good news to individuals earning salary and pension.

03 Jul 2024

Business

India's service sector booms in June, record exports fuel growth

India's service sector activity experienced a surge in June, reaching 60.5 from May's five-month low of 60.2, according to HSBC India Services Business Activity Index.

01 Jul 2024

Business

India's manufacturing expands in June, PMI rises to 58.3

India's manufacturing sector experienced a surge in June, with the Manufacturing Purchasing Managers's Index (PMI) rising to 58.3 from May's three-month low of 57.5.

18 Jun 2024

Fitch Ratings

Fitch raises India's FY25 economic growth forecast to 7.2%

Fitch Ratings has revised its economic growth forecast for India in FY25 to 7.2%, up from the previous projection of 7% made in March.

RBI ups India's GDP growth forecast to 7.2% for FY25

The Reserve Bank of India (RBI) has revised its real gross domestic product (GDP) projection for the fiscal year 2024-25 to 7.2%, a slight increase from the earlier estimate of 7%.

05 Jun 2024

Inflation

India's service sector growth hits five-month low in May

India's service sector growth slowed to a five-month low in May, as indicated by the final HSBC India Services purchasing managers' index (PMI) compiled by S&P Global.

India's GDP exceeds expectations with 7.8% growth in Q4

India's gross domestic product (GDP) has surpassed analysts' predictions, registering a growth of 7.8% in the final quarter of FY24, as per data from the Ministry of Statistics and Programme Implementation (MOSPI).

RBI's balance sheet grows by 11% to nearly ₹70.5L crore

The Reserve Bank of India (RBI) has reported an 11.08% increase in its balance sheet size for FY2024, reaching ₹70.48 lakh crore as of March 31.

29 May 2024

Nirmala Sitharaman

S&P upgrades India's economic outlook for first time since 2010

S&P Global Ratings has revised its outlook for the Indian economy from 'stable' to 'positive', while maintaining rating at 'BBB-', the lowest investment grade rating.

17 May 2024

United Nations (UN)

UN raises India's 2024 GDP growth forecast to 6.9%

The United Nations (UN) has updated its economic growth projections for India in 2024, predicting a nearly 7% expansion, an increase from the previous forecast of 6.2% made in January.

16 Apr 2024

Federal Reserve

Morgan Stanley forecasts no rate cuts for India in 2024-25

Morgan Stanley's team of analysts predicts that India is unlikely to lower its interest rates in the fiscal year 2024-25.

31 Aug 2023

Inflation

Indian economy to see its fastest growth in a year

India's economy surged from 6.1% in the January-March quarter to 7.7% in the April-June quarter, the fastest since April-June 2022, according to the median projection in a Reuters poll of economists.

Indian economy 'very strong,' will grow at 5.9%: IMF chief

The International Monetary Fund (IMF) on Tuesday slashed the growth projection for India from 6.1% to 5.9% for the financial year 2023-24. However, Daniel Leigh, the division's World Economic Studies chief, praised India, calling it one of the bright spots in the current global economy.

01 Feb 2023

Union Budget

Will Union Budget 2023 boost Indian economy, what to expect

Finance Minister Nirmala Sitharaman will present the Union Budget 2023 today at 11 am.

31 Jan 2023

Budget Session

Budget Session: Nirmala Sitharaman tables 2023 Economic Survey in Parliament

Finance Minister Nirmala Sitharaman on Tuesday tabled the Economic Survey 2022-23 in Parliament, following President Droupadi Murmu's maiden address to a joint session of Lok Sabha and Rajya Sabha, marking the start of the Budget Session.

31 Jan 2023

Union Budget

Finance Minister Nirmala Sitharaman to present 2023 Economic Survey today

The central government is set to table the 2023 Economic Survey on Tuesday, a day before the Union Budget 2023-24 presentation.

Amid global slowdown predictions, IMF calls India 'bright spot'

India is likely to see some economic slowdown in the fiscal year 2023, the International Monetary Fund (IMF) said in its January update of the World Economic Outlook released on Tuesday.

06 Dec 2022

World Bank

India's economy 'resilient,' to grow 6.9% in FY23: World Bank

Upgrading India's gross domestic product (GDP) forecast from 6.5% to 6.9% for the current fiscal year, the World Bank on Tuesday termed India's economy as "more resilient" than 10 years ago.

09 Nov 2022

Morgan Stanley

India will be third-largest economy by 2027, Morgan Stanley predicts

The future of the Indian economy seems promising as the global financial services giant Morgan Stanley predicted that the country will become the world's third-largest economy by 2027.

07 Nov 2022

Russia-Ukraine crisis

India's manufacturing sector to sustain growth momentum for 6-9mths: Survey

The Indian economy is set to witness steady growth as most domestic manufacturers are confident about sustaining growth momentum in the coming six-nine months despite global headwinds like supply chain issues amid the Russia-Ukraine war, a FICCI survey showed.

07 Jun 2022

India

ICICI Bank FD interest rates hiked: Check latest rates

ICICI Bank, India's second-largest private bank, has reportedly raised the interest rates on its fixed deposits (FD) once again with effect from Tuesday (June 7).

30 May 2022

Reuters

India's Q4 GDP pegged at 2.7%, lower than Q3: Experts

According to SBI's economists, the upcoming release of official statistics for economic performance is likely to show 2.7% growth for the January-March quarter and 8.5% growth for FY22.

25 Apr 2022

India

Majority of India's workforce has stopped looking for jobs: Report

The problem of job creation and unemployment in India is becoming worse with an increasing number of people quitting to even look for jobs.

22 Mar 2022

COVID-19

China imposes lockdown amid COVID-19 surge; will it affect India?

China has imposed lockdowns and severe restrictions in several provinces and cities in order to curb its largest-ever COVID-19 outbreak.

23 Feb 2022

India

How Russia-Ukraine crisis may impact Indian economy?

The simmering tensions between Russia and Ukraine have put the global economy on tenterhooks, with crude oil prices hitting an all-time high on Tuesday since September 2014.

26 Dec 2021

France

$100T world economy in 2022; China #1 by 2030: Report

The global economic output is set to surpass $100 trillion in 2022, two years earlier than previously forecast, said a report by the Centre for Economics and Business Research (CEBR).

08 Dec 2021

NITI Aayog

India's richest 10% hold 57% of national income: Inequality Report

India stands out as a "poor and very unequal country, with an affluent elite," according to the World Inequality Report 2022.

24 Aug 2021

India

COVID-induced economic slowdown caused 1 lakh infant deaths in India

India recorded a third of global excess infant deaths in 2020 due to COVID-induced economic slowdown, a World Bank study has found.

26 Jul 2021

Ministry of Finance

Spike in rural unemployment; urban unemployment rises marginally: CMIE

Rural India is witnessing a spike in the weekly unemployment rate, according to data from the Centre for Monitoring Indian Economy (CMIE).

Amid COVID-19 outbreak, India's GDP contracts 7.3% in FY2020-21

As the second wave of COVID-19 has disrupted regular life, India's Gross Domestic Product (GDP) contracted 7.3% in the financial year 2020-21, data shared by the government showed on Monday.

Coronavirus: As second wave 'downsizes', economists warn of job crisis

India on Friday reported 1.86 lakh new COVID-19 cases along with 3,660 more deaths. The number of new infections was the lowest in 44 days.

18 May 2021

Coronavirus

Economy will improve after a critical mass is vaccinated: Expert

India's economy will do well once vaccination reaches a critical mass as pent-up demand, global recovery and easy financial conditions will boost activities, RBI's Monetary Policy Committee member Ashima Goyal said on Tuesday.

08 Dec 2020

Fitch Ratings

India's GDP to contract by 9.4% in FY21, says Fitch

India's GDP will contract by 9.4% in the current fiscal year, Fitch Ratings said in its latest Global Economic Outlook on Tuesday.

26 Nov 2020

India

Climate change may cost Indian GDP $200bn by 2030: Report

The worsening effects of climate change may pose a massive risk of $200 billion to India's GDP (gross domestic product) by 2030, revealed a report by McKinsey Global Institute (MGI).

RBI Governor Shaktikanta Das happy with Indian economy's recovery

RBI Governor Shaktikanta Das is happy with the way the Indian economy is performing. On Thursday, he said that the pick-up in recovery has been stronger than expected.

Repo rate unchanged; RTGS payment will be available 24*7: RBI

RBI Governor Shaktikanta Das on Friday announced Monetary Policy Committee's decisions and spoke about the revival of the coronavirus-battered Indian economy.

04 Jul 2020

Facebook

COVID-19 Free Jobs Forum, a place to find work opportunities

COVID-19 has put a dent in the Indian economy, with several industries suffering and tens of thousands of people going out of work.

11 Jun 2020

Pakistan News

Ready to share cash transfer scheme with India: Pakistan PM

Pakistan Prime Minister Imran Khan said he is ready to share his government's cash transfer program with India to help the latter with the fallout of the coronavirus outbreak.

15 Apr 2020

India

#Lockdown2: Industry bodies want package of nearly Rs. 16L crore

As India's lockdown was extended for another nineteen days on Tuesday, several industry bodies asked the government to release a financial package to help them and revive growth in various sectors.

12 Apr 2020

India

India to witness severe economic slump, says World Bank

The spread of COVID-19, and the disruption ensuing from it, is likely to cause a sharp economic slump for India and neighboring countries, the World Bank said on Sunday.

09 Apr 2020

Nirmala Sitharaman

Government planning another package to revive growth of coronavirus-stung economy

The government plans to set up a fund with a corpus of Rs. 50,000-75,000 crore to revive industries, that have been battered due to the coronavirus pandemic.

10 Feb 2020

Parliament

People wearing jackets, pants, so there's no recession: BJP MP

Amid the ongoing economic crisis, a member of BJP has exclaimed that people can still afford jackets and pants, hence, there is no recession.

01 Feb 2020

Nirmala Sitharaman

Budget 2020: Nirmala Sitharaman presents budget amid economic slowdown

All eyes are on Finance Minister Nirmala Sitharaman as she is presenting her second budget today.

#CareerBytes: Everything about Class-12 Economics paper pattern, new marking scheme

The 2020 CBSE Class-12 board examinations are set to commence from February 15 and go on till March 30.

16 Nov 2019

Karnataka

Airports full, people getting married, hence, no slowdown: BJP leader

All numbers indicate that the Indian economy is going through one of its worst slowdowns, but for this Union Minister, everything is fine since people are getting married, and airports are full.

22 Oct 2019

India

PM joked about media's "trap", says Nobel laureate Abhijit Banerjee

After he met Prime Minister Narendra Modi on Tuesday, Nobel laureate Abhijit Banerjee said the PM joked about how media is trying to "trap" Banerjee into saying anti-Modi things.

13 Oct 2019

India

#EconomicSlowdown: World Bank cuts India's growth rate projection to 6%

The country's "well-learned" union ministers may want you to believe that there is no economic slowdown whatsoever, but data points otherwise.

18 Aug 2019

India

India can become $5-trillion economy in 5 years: NDB President

KV Kamath, President of Shanghai-headquartered New Development Bank (NDB), said the Indian economy can become a $5-trillion economy in five years growing at an annual average rate of 10%.

03 Aug 2019

India

NITI Aayog CEO says 'too many reforms' behind economic slowdown

Recently, data compiled by the World Bank revealed that India slipped to the 7th spot in the global GDP rankings of 2018.

14 Jul 2019

India

Rising intolerance, hate crimes can damage economic growth: Adi Godrej

Billionaire industrialist Adi Godrej on Saturday warned that growing intolerance, moral policing, and hate crimes in the country could "seriously damage" India's economic growth.

14 Oct 2018

India

#CareerBytes: List of NCERT books to study for UPSC exam

Needless to say, UPSC exam preparation demands long-term, thorough and deep understanding of concepts.

06 Sep 2018

India

#CareerBytes: Tips to crack the UPSC exam

The UPSC Civil services exam is one of the toughest exams in India, thus thorough preparation and solid determination are the keys to cracking it.

01 Jul 2018

India

GST anniversary: "Gamechanger" or "surgical strike"? Top leaders speak up

One year ago on this day, the country's tax regime underwent a drastic overhaul with the launch of the never-seen-before-in-India Goods and Services Tax (GST).