India's economy carried forward the momentum it built in 2022-23 into 2023-24 despite a gamut of external challenges, the Economic Survey said. India's real GDP grew by 8.2 per cent in 2023-24, exceeding 8 per cent mark in three out of four quarters of 2023-24.
While speaking at the launch function of FICCI's India Chem 2024 on Saturday, Union Minister for Health and Family Welfare and Chemicals & Fertilizers, JP Nadda, reiterated crucial role of the petrochemicals, and chemical sector in achieving the target of 5 trillion economy by 2025.
Invoking the Indian business community to invest in India, Union Minister for Commerce and Industry Piyush Goyal said that since India has never defaulted in its history, it is the best time to invest in the development of the country.
The fiscal buffer from the Reserve Bank of India's (RBI) excess dividend, amounting to 0.4 per cent of GDP, is likely to be disproportionately allocated towards the rural, farm, and welfare sectors, with a slight increase in capex.
Ahead of the Budget session of parliament, Dr Harsh Mahajan, Chair of FICCI Health Services Committee and founder and chief radiologist of Mahajan Imaging and Labs, demanded government fulfil its 'promise' of spending 2.5 per cent of GDP on the healthcare sector.
Blaming the BJP government's "erratic policy, rampant cronyism," and the alleged misuse of central agencies, the Rajya Sabha MP asserted that India needs a new "liberalized approach" to political economy, not "marginal policy tinkering."
Mumbai (Maharashtra) [India], July 17: Dun & Bradstreet, a global leader in business decisioning data and analytics, released the Composite Business Optimism Index for Q3 2024, which stands at 78.9, 3.9% higher compared to Q2 2024. Four out of six optimism indices have shown improvement
The International Monetary Fund (IMF), in its latest outlook, has raised India's growth projections for 2024 from 6.8 per cent earlier to 7 per cent, with the country maintaining the fastest-growing status in emerging markets and developing economies
This gathering assumes significant importance as China, the world's second-largest economy, grapples with a myriad of challenges including a property sector crisis, escalating local government debt, and strained consumer demand amid geopolitical tensions with Western nations.
This growth rate marked a slowdown from the 5.3 per cent growth observed in the first quarter. Additionally, June's retail sales saw an increase of 2 per cent, falling short of the expected 3.3 per cent growth.