India Economy

'GDP growth exemplifies tenacity of people amid global challenges': PM Modi lauds India's outstanding economic progress 

According to data released by the National Statistical Office, India’s economy will see an overall growth of 7.2 per cent in FY23. The country has witnessed steady growth among some of the fastest-growing economies including China and the US

India scraps the Rs 2000 note: Will this affect the economy?

The Rs 2000 note will remain legal tender but citizens have been asked to deposit or exchange these notes by 30 September. Analysts say this time the move is expected to be less disruptive as a lower value of notes is being withdrawn over a longer period of time

Centre rolls out Rs17,000 crore Production Linked Incentive Scheme 2.0 for IT hardware

The implementation of the PLI Scheme 2.0 for IT hardware is expected to boost the growth of the electronics manufacturing sector in India and enhance the country's position as a global player in this industry

Richie Rich Club: How much money does one need to join India’s richest 1%?

What does it take to be part of India’s richest 1 per cent club? According to a report by Knight Frank, $175,000 (Rs 1.44 crore). The money is lesser than what is required in Monaco – which has the highest threshold at $12.4 million (Rs 102 crore)

India's power consumption dips by over 1% to 130.57 bn units in April

The experts said that had there been no rains in March as well as April, then the power consumption would have shown a good growth in the two months

India's manufacturing PMI hits four-month high in April

Factory orders and production rose at the strongest rates in 2023 so far, more jobs were created and companies stepped up input purchasing, owing to stock-replenishment efforts

RBI projects economic growth at 6.4% for next fiscal

Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services and infrastructure sector firms are optimistic of the business outlook

Budget 2023: What’s capex, fiscal deficit and non-tax revenue? Your go-to guide to Budget lingo

Some economic terms are hard to understand; some could be confusing. Here’s a handy glossary ahead of Finance Minister Nirmala Sitharaman’s Budget 2023 speech

India will lead global growth in 2023 expanding at over 6%: IMF

IMF said growth in India is set to decline from 6.8 per cent in 2022 to 6.1 per cent in 2023 before picking up to 6.8 per cent in 2024

India a 'bright spot' in world economy right now: Top UN economist

India's economic growth is expected to remain "strong" even as prospects for other South Asian nations "are more challenging," Hamid Rashid said