[ NEW DELHI: India’s foreign exchange reserves declined for the second week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion.As per the latest data released by the Reserve Bank of India (RBI), the country’s foreign exchange kitty declined by USD 2.828 billion to USD 640.334 billion … Read more
[ India is posting some of the most robust economic growth rates right now in the world. And with China slowing, India could become the new engine of global economic growth. But it will take strategic investments, increased labor participation and more for India to achieve its economic ambitions. Bloomberg’s New Delhi-based economics and politics … Read more
[ War of Words! Krishnamurthy Subramanian, the Executive Director at the International Monetary Fund has said that the IMF’s GDP growth forecasts for India have been consistently ‘INACCURATE’. In contrast, he claimed that his predictions of India’s GDP growth have been accurate. The issue stems from IMF spokesperson Julie Kozack recently stating that Krishnamurthy Subramanian’s … Read more
[ Mumbai: India’s monetary policy committee held the key repo rate unchanged for a seventh straight policy meeting on Friday as it expects growth in the economy to remain robust but sees inflation staying above its 4% target. The Reserve Bank of India kept the main lending rate unchanged at 6.5%, in line with expectations. … Read more
[ NEW DELHI: Key markers point to the Indian economy remaining buoyant at the end of 2023-24 with Purchasing Manager’s Index (PMI) for manufacturing increasing and that of services maintaining a robust trend, as per the monthly economic review by the National Council of Applied Economic Research (NCAER). The PMI for manufacturing activity increased to … Read more
[ In India, higher educated young people are more likely to be unemployed than those without any schooling, according to the International Labour Organization.The jobless rate for graduates was 29.1%, almost nine times higher than the 3.4% for those who can’t read or write, a new ILO report on India’s labor market showed. The unemployment … Read more
[ New Delhi: The Narendra Modi government’s second term was among the lowest growth periods in more than three decades, former finance secretary Subhash Chandra Garg has said, adding the advance estimates for 2023-24 were likely to be revised downwards as they are “a bit optimistic”. In an interview with ThePrint, Garg said data was now … Read more
[ New Delhi: Even as the Sangh Parivar firmly advocates that India in the “Hindu period” (1-1000 AD) was a sone ki chidiya (golden bird), a deeper look at India’s economic performance over the last 2,000 years showed that this was far from the case, and that the term “golden” sounded like a “mockery”, Swaminathan S. Anklesaria Aiyar, … Read more
[ New Delhi: The Congress-led United Progressive Alliance (UPA) government inherited a healthy economy in 2004 but reduced it to a state of “non-performance” in its 10 years, the Modi government said in a white paper tabled Thursday in Parliament. The white paper, which had been announced by Finance Minister Nirmala Sitharaman during her interim budget … Read more
[ New Delhi: India’s industrial output bounced back strongly in 2021-22, the year following the nationwide lockdown in response to the COVID-19 pandemic, with output surpassing even the pre-pandemic years, according to the government’s survey on the industrial sector released Monday. The Ministry of Statistics and Programme Implementation (MoSPI) Monday evening released its Annual Survey of … Read more
