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.
Kotak Mahindra Bank whole-time director and president Gaurang Shah said the retail, a low-cost liability base, is key sustenance factor of the banks.
The FSDC is the apex body of sectoral regulators, headed by the finance minister.
While Fitch Ratings had stated that India has had a very stringent lockdown policy that has lasted a lot longer than initially expected and incoming economic activity data have been spectacularly weak.
Shaktikanta Das further informed that the GDP growth in 2020-21 is expected to remain in the negative category with some pick up in second half.
Modi outlined a Rs 20-lakh-crore which is 9.7 per cent of GDP support package, of which new allocations could only be 50-60 per cent of the offer.