As India faces a challenging economic situation, having experienced six successive quarters of negative GDP growth, a disruptive shock in supply chains from a major economic partner like China will only compound economic woes
India urgently needs more ambitious structural and financial sector reform measures and a medium-term fiscal consolidation strategy due to the rising debt levels, says IMF.
Tearing into the Modi government over India's economy, Former finance minister P Chidambaram on Monday said it was close to collapse and was been attended by "very incompetent doctors."
BJP Ballia MP, Virendra Singh Mast has said that if the nation was going through a recession then people wouldn't have been buying clothes, pants and pajamas.
Finance Minister Nirmala Sitharaman on Sunday said that the foundation for achieving the goal of USD 5 trillion economy by 2024-25 has been laid in the union budget which stressed on increasing capital expenditure for infrastructure.
Bilateral trade is growing at 10 per cent on a year-to-year basis and reached USD 160 billion in 2019, he said."This makes me bullish about our relationship. The best is yet to come. Referring to his first stint in Washington DC as a young Indian diplomat in 1997, Sandhu said he always sensed the potential of the US-India partnership and wondered how it could move forward.
The IMF has said that Sri Lanka’s economy is gradually recovering from Easter Sunday terrorist attacks in 2019 with GDP growth projected at 3.7 per cent in 2020.
The country needs to double credit growth to 15 per cent to become a USD 5 trillion economy by 2024-25, say bankers. The country has recorded high double-digit credit growth in the past and is capable of achieving similar growth now as well, they added.
Economists and financial experts have welcomed RBI's widely expected status quo on repo rate, and other announcements to spur economic growth and ensure money supplies effectively. The RBI on Thursday kept the key policy rate unchanged at 5.15 per cent.
RBI pegged India's growth rate in the next financial year at 6% and 5% in the current fiscal and decided to maintain the status quo on the benchmark interest rate.
Taking a jibe at PM Modi, Congress leader Rahul Gandhi posted an old video of Prime Minister exercising saying please try "your magical exercise routine a few more times" as it may just start the economy. His statement has come in the backdrop of Union Budget 2020 which according to Gandhi was hollow and lacked roadmap to revive economy.
The per capita debt in Pakistan jumped 28 percent to Rs 153,689 at the end of last financial year, the Finance Ministry informed the National Assembly while confessing that all budget strategy targets were missed and that caused faster accumulation of public debt.
With travel restrictions and business closures aimed at stopping the spread of a new virus that has killed more than 300 people in China, the situation could end up causing ripple effects that harm the global economy, experts say.
During her budget speech, Finance Minister Nirmala Sitharaman on Saturday proposed 16 action points focusing on horticulture sector, food storage, animal husbandry and blue economy.
Budget 2020: With the US and China racing ahead of India in AI research, AI entrepreneurship and government investment in AI is much needed.
Budget 2020: Finance Minister Nirmala Sitharaman will table her second union budget with a vision to revive the economy. Catch all the live updates here.
Budget 2020-21 will show buoyancy in revenue realisation and propose to make heavy investment in infrastructure, agriculture, rural development, education and health sectors said Dr. Agarwal.
Economic Survey has rightly lauded the economic performance of the Indian economy in 2019-20 on various economic parameters, despite weak environment for global manufacturing, trade and demand, feels Dr. Agarwal.
Chief Economic Adviser K V Subramanian on Friday said India's GDP is expected to grow at 6-6.5 per cent next fiscal as the economic slowdown has bottomed out.
To prevent 'lack of infrastructure' becoming a 'binding constraint' on the growth of Indian economy that aspires to become a USD 5 trillion by 2024-25, the country needs to spend about USD 1.4 trillion on infrastructure, the Economic Survey said on Friday.
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