External Affairs Minister S Jaishankar has emphasized the need for a prompt resolution to the review of India’s trade agreement with South Korea. He stressed the importance of both nations collaborating to identify additional “meeting points” and boosting their engagement to fully leverage their potential. While speaking at the Korea National Diplomatic Academy in Seoul … Read more
Clear Discrepancy Emerges Between GDP Growth and Private Consumption. Prime Minister Narendra Modi generally refrains from commenting on quarterly GDP data, a trend suggesting a cautious approach toward discussing economic indicators. This reserved stance is indicative of the recognition that the economy poses a significant challenge for the ruling National Democratic Alliance (NDA) government, especially … Read more
On Monday, rating agency Moody’s increased its projection for India’s GDP growth in 2024. The upward revision reflects optimism both globally and domestically regarding the country’s economy, supported by strong manufacturing activity and infrastructure spending. In its Global Macro Outlook 2024-25, the rating agency stated, ‘India’s economy has performed well, and stronger-than-expected data in 2023 … Read more
NITI Aayog Under Fire: Controversy Erupts Over Claims of India Abolishing Poverty. In a surprising turn of events, the NITI Aayog has come under scrutiny for suggesting that poverty in India has been eradicated. Critics argue that this assertion, based on the Household Consumption Expenditure Survey (HCES), is unsubstantiated and misleading. The CEO of NITI … Read more
According to a recent survey, the consumption of paan, tobacco, and other intoxicants has seen a notable uptick over the last decade, with individuals allocating a larger share of their income toward these products. The survey findings reveal a discernible increase in the consumption of paan, tobacco, and various intoxicating substances, highlighting a shift in … Read more
The robust 8.4% real GDP growth recorded in the third quarter stands in stark contrast to the sobering reality of household consumption and income trends. Recent data from the national expenditure survey, released after an 11-year hiatus, reveals a modest 3% growth in real consumption over the past 11 years, while the Periodic Labour Force … Read more
India’s industrial production has undergone notable expansion, propelled by a thriving manufacturing sector. The Index of Industrial Production (IIP) mirrors this upward trajectory, underscoring the sector’s robustness and its ability to foster growth. India’s manufacturing sector has emerged as a key driver of the nation’s industrial growth, contributing substantially to its economic trajectory. The Index … Read more
India Maintains Title of World’s Fastest Growing Major Economy with 8.4% Expansion in Q4 2023. India has once again proven its economic prowess by achieving a remarkable growth rate of 8.4% in the final quarter of 2023, reaffirming its position as the world’s fastest growing major economy. The announcement comes amidst preparations for the upcoming … Read more
According to a recent Reuters poll, economic growth in India is forecasted to reach 6.6% in the three months ending on December 31st, indicating a slowdown from the 7.6% growth recorded in the previous quarter and 7.8% growth in the July quarter. It’s worth noting that India’s fiscal year commences on April 1st. India’s Economic … Read more
Commerce Secretary: Developed Nations Employing Trade-Distorting Subsidies. India Cautions Against Inclusion of ‘Non-Trade Issues’ in WTO Agenda. During the second session on trade and inclusion at the 13th ministerial conference of the World Trade Organization (WTO) in Abu Dhabi on Monday, Commerce Secretary Sunil Barthwal warned that efforts by the developed world to incorporate “non-trade … Read more
The deceleration was attributed partially to a significant decline in energy expenses, which mirrored the base effect of the previous year’s substantial increase, as well as government subsidies aimed at curbing gasoline and utility bills. This suggests a diminishing cost-push pressure that had consistently maintained core inflation at or above the Bank of Japan’s 2 … Read more
Mr. Subrahmanyam Highlights Household Consumption Survey Data as Key Metric for Assessing Poverty Reduction Initiatives. New Delhi: NITI Aayog CEO BVR Subrahmanyam announced that poverty in India has dropped to below 5 percent, referencing the latest Household Consumption Expenditure Survey (HCES) conducted between August 2022 and July 2023. The survey, a vital tool for assessing … Read more
Prime Minister Narendra Modi Reiterates Government’s Commitment to Farmers Following Increase in Sugarcane FRP to ₹340 per Quintal. “Our government is dedicated to fulfilling every resolution concerning the welfare of our farmer brothers and sisters nationwide. In this vein, a historic increase in the price of sugarcane purchase has been sanctioned. This move will benefit … Read more
“RBI Paper Counters IMF Warning, Projects India’s General Government Debt to Fall to 73.4% of GDP by 2030-31” In the face of the International Monetary Fund’s cautionary statement suggesting that India’s general government debt could surpass 100% of Gross Domestic Product (GDP) in the medium term, a Reserve Bank of India paper presents a contrasting … Read more
The report highlights that investment in the economy is consolidating, driven by high public capital expenditure which is attracting private investment. This has led to the setup of additional plants and acquisition of new machinery to address increasing capacity utilization. The Finance Ministry, in its monthly economic review for January, highlighted several factors contributing to … Read more
The latest RBI Bulletin underscores the sustained momentum of the Indian economy, as indicated by robust high-frequency indicators from the first half of the fiscal year 2023-24. According to the latest RBI Bulletin, a forthcoming wave of capital expenditure by the corporate sector is poised to propel the next phase of economic growth, with emphasis … Read more