Economic Growth

November 21, 2024 3:05 PM

India’s economic activity growth hits 8-month high in October: report

India’s economic activity growth surged to an eight-month high of 10.1% in October, up from 6.6% in September, despite an unfavorable base effect, according to a report released on Thursday. The growth momentum was driven by the end of the monsoon season, which positively impacted sectors such as mining and electricity. Additionally, strong festive season demand boosted vehicle registrations, fuel consumption, and air travel, while exports witnessed a significant surge, said credit rating age...

October 22, 2024 6:09 PM

India’s economy set to grow at 7-7.2% in FY25 despite temporary slowdown: Deloitte report

India's economic growth is projected to reach between 7.0% and 7.2% in the fiscal year 2024-25, according to Deloitte India’s latest Economic Outlook. This positive forecast comes despite a recent slowdown, with GDP expanding by 6.7% year-on-year in the April-June quarter, marking the slowest pace in the last five quarters. The country continues to be among the fastest-growing major economies, driven by favorable domestic conditions. Key factors such as strong manufacturing activity, stable o...

September 25, 2024 3:34 PM

ADB projects India’s growth at 7% for FY24, 7.2% for FY25

The Asian Development Bank (ADB) has projected India’s economic growth at 7% for the financial year 2024 and 7.2% for FY2025, stating that the country’s economy remains strong. ADB’s Country Director for India, Mio Oka, said that India has displayed resilience in the face of global geopolitical challenges and is set for steady expansion. Oka added that improvements in agriculture are expected to boost rural spending, complementing the robust performance of the industry and services sectors...

May 15, 2024 7:57 PM

Nepal Aims for Economic Growth Surge to 7.3% in 16th Plan

The government of Nepal's policy and program document for the upcoming fiscal year 2081/82 was tabled at a joint meeting of the federal parliament, with President Ram Chandra Paudel addressing the session yesterday. The economic growth rate of Nepal is projected to reach 7.3 per cent in the next five years. President Paudel highlighted refinancing and loan restructuring provisions to assist microfinance borrowers facing difficulties. Additionally, the government announced plans to offer loans t...