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.
Briefing reporters after the 41st meeting of the GST Council on Thursday, Finance Minister Nirmala Sitharaman said the economy is facing an extraordinary 'Act of God' situation, which may result in economic contraction.
The governor said, rather than becoming averse to lending, banks have to improve their risk management and governance frameworks, and also build sufficient resilience.
According to him, it is time that the Indian industry stood up as one to ensure that it gets a level playing field.
The Narendra Modi government plans to make India a $5 trillion economy by 2025.
The objective of the initiative was to recognize and commemorate the contribution of Prof CK Prahalad, a renowned business thinker, and give a direction to tackle the current distressed economic scenario for a progressive society.