India’s economy to attain size of USD 34.7 trillion by 2047: PHDCCI
The Indian economy is displaying robust growth post Covid pandemic despite continued global headwinds, the industry body said.
The Indian economy is displaying robust growth post Covid pandemic despite continued global headwinds, the industry body said.
The growth projection for the current fiscal is lower than the Reserve Bank of India (RBI) and government’s projection of 7 per cent.
Coming as a positive development for the Indian economy, the Fitch rating agency has raised its estimate for India's economic growth for this fiscal year and next.
She highlighted that the Direct Benefit Transfer of Rs 34 lakh crore using PMJDYY has led to Rs 2.7 lakh crore of savings of the government.
The Finance Ministry’s review of the Indian Economy, a document which runs over 70 pages, takes stock of the state of the country’s economy and its journey in the last 10 years.
“The Indian economy continues to show strong resilience to external shocks," said Auguste Tano Kouame, World Bank's Country Director in India.
He encouraged students to take inspiration from Rabindranath Tagore
The Economic Survey seems to have deliberately ignored adverse facts. While talking about robustness of the IT sector, no mention is made of the unprecedented global slowdown that has seen revenue losses and record lay-offs in global market leaders like Netflix, Meta, Amazon, Microsoft, Alphabet, and Apple which are directly affecting the Indian IT Sector, bringing the NIFTY IT down 11.4 per cent y-o-y, and leading to approximately 25,000 lay-offs
The adverse factors affecting the US and European economies put our own economy at risk. To enumerate: the Indian economy faces the danger of capital outflow because of higher US interest rates. Then, we are importing inflation through higher cost of imported goods and because household incomes in the West are falling, our own exports are unlikely to rise in the short run, ruling out a quick solution to the CAD problem
In the 96th edition of his monthly 'Mann Ki Baat' program, Narendra Modi said the year 2022 has indeed been very inspiring and wonderful in many ways.
