Building on the momentum from the previous two quarters, India's economic growth surged to a six-quarter high in the third quarter of FY24, exceeding 8% for the third consecutive time.
The meeting started at 5 p.m. and Chief Minister Nitish Kumar was also present.
As per the First Advance Estimates of National Income of FY 2023-24, presented along with the Finance Minister’s speech, India’s Real GDP is projected to grow at 7.3 per cent.
The healthcare sector has emerged as one of the fastest-growing segments, with the provider segment crossing the $132 billion mark, growing at a CAGR of 16-17 per cent.
The Finance Minister said the corpus will be established with a 50-year interest free loan.
Consumption will increase when the government starts spending on infrastructure, according to the minister. The task force is in the process of identifying the infrastructure projects that are to be funded, as well as expedited.
The task force will comprise secretaries from different ministries, other senior officials and Niti Aayog CEO. It will identify technically feasible and financially or economically viable infrastructure projects that can be initiated in FY2019-20. This also lists the projects that can be included in the pipeline for each of the remaining five years between FY2021-25.
The bank has received a communication from the Ministry of Finance that the Alternative Mechanism (AM), after consultation with Reserve Bank of India (RBI), has decided that Punjab National Bank, Oriental Bank of Commerce (OBC) and United Bank of India may consider amalgamation, it said in a regulatory filing.
CLSA said the sustained improvement in housing could drive economic growth revival.
Arguing on the line of questioning adopted by the investigating agencies, Chidambaram's lawyer said it appeared they were attempting to extract a confession from Chidambaram.
