S&P Global raises India’s GDP growth forecast for FY25 to 6.8%
The growth projection for the current fiscal is lower than the Reserve Bank of India (RBI) and government’s projection of 7 per cent.
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 decline in the youth unemployment rate has been led by the states with a larger share of the young population, the Finance Ministry said in a review of the Indian economy.
The corporate sector will become "very careful about borrowings" and use their internal resources initially.
There is a wide gap between the technologies developed in the research institutions and their applicability at the farmers field. Awareness among farmers as to technologies must be created for better transfer of research technologies.
He further said that the central bank has asked all the banks and NBFCs to undertake stress test internally.
The ADB expects that the inflation to fall in the remainder of FY2020 to 4.5 per cent with tamed food prices and decreased economic activity.
It said the 23.9 per cent contraction in the April-June quarter was larger than expected.