gdp

February 20, 2025 1:58 PM

India set to remain world’s fastest-growing economy in 2025-26: RBI bulletin

India’s economy is expected to maintain its status as the fastest-growing major economy in 2025-26, supported by sustained growth momentum and strategic fiscal measures, according to the Reserve Bank of India’s (RBI) latest monthly bulletin. Citing estimates from the International Monetary Fund (IMF) and the World Bank, the bulletin projects India’s GDP growth at 6.5% and 6.7%, respectively, for 2025-26. Despite global uncertainties, high-frequency indicators point to a sequential pick-up...

February 12, 2025 9:35 AM

India’s net direct tax collection rises 15% to cross ₹17.78 lakh crore in 2024-25

India’s net direct tax collection, comprising corporate tax and personal income tax, increased by 14.69% to cross ₹17.78 lakh crore as of February 10 in the current financial year, compared to ₹15.51 lakh crore in the same period of 2023-24, according to data released by the Central Board of Direct Taxes (CBDT) on Tuesday. The gross direct tax revenue surged by 19.06% to exceed ₹21.88 lakh crore, up from ₹18.38 lakh crore in the corresponding period of the previous year. Revenue from...

February 6, 2025 10:00 AM

Budget session 2025: General discussion on Union Budget in Parliament to resume on Thursday

Both Houses of Parliament are set to resume discussions on the Union Budget for 2025-2026 on Thursday, which was presented by Finance Minister Nirmala Sitharaman on Saturday. In the Rajya Sabha, Prime Minister Narendra Modi will respond to the discussion on President Droupadi Murmu’s address. The Lok Sabha session will begin with the Question Hour, followed by the laying of Parliamentary Papers on the table by several ministries. A new Income Tax Bill, which will replace the Income Tax Act o...

February 3, 2025 5:22 PM

Inflation eases, growth picks up, Crisil’s economic forecast for FY26

India’s economy is poised to grow at 6.5 percent in the financial year 2025-26 (FY26), slightly surpassing the 6.4 percent growth forecast for the current fiscal year, according to a recent report by Crisil. The report underscores that a combination of lower inflation and anticipated rate cuts by the Reserve Bank of India (RBI) will support economic growth, assuming there are no major global shocks and the country experiences a normal monsoon. "Lower inflation and the RBI's rate cuts are exp...

January 29, 2025 2:59 PM

India’s Digital Economy set to drive nearly 20% of GDP by 2029-30

India's digital economy will contribute nearly one-fifth of the national income by 2029-30, surpassing agriculture and manufacturing in less than six years. With an 11.74% share in GDP in 2022-23 (INR 31.64 lakh crore or USD 402 billion), the digital economy has emerged as a key driver of economic growth. It employs 14.67 million workers (2.55% of the workforce) and is nearly five times more productive than the rest of the economy, according to the Ministry of Electronics & IT. India: Now t...

January 21, 2025 3:49 PM

India projected to account for 16% of global consumption by 2050: report

India is projected to account for 16% of global consumption by 2050, up from 9% in 2023, according to a report by McKinsey Global Institute titled "Dependency and Depopulation: Confronting the Consequences of New Demographic Reality." By 2050, only North America, with a projected 17% share, will surpass India’s global consumption share. These estimates are based on purchasing power parity, which adjusts for price differences across countries. India’s rise in global consumption share is pri...

January 19, 2025 4:35 PM

India to grow at 6.7% for next two years: World Bank

India is projected to sustain its position as the fastest-growing major economy, with a growth rate of 6.7% in both FY26 and FY27, according to the World Bank’s latest Global Economic Prospects (GEP) report, outpacing a global growth projection of 2.7% for 2025-26. The GEP report attributes India’s robust growth to a thriving services sector and a revitalized manufacturing base, driven by transformative government initiatives. From modernizing infrastructure to streamlining taxes, these mea...

January 15, 2025 4:02 PM

India projected to see 5-times surge in green investments at Rs 31 lakh crore till 2030

India is projected to see a five-fold growth in green investments to Rs 31 lakh crore between 2025 and 2030, a Crisil report showed on Wednesday. Of the Rs 31 lakh crore investments, Rs 19 lakh crore is seen going into renewable energy and storage, Rs 4.1 lakh crore into transport and automotive sectors and Rs 3.3 lakh crore into oil and gas, according to the report presented at the Crisil's ‘India Infrastructure Conclave 2025’ in the national capital. This is a crucial part of an estimate...

January 14, 2025 12:47 PM

India’s GDP growth likely to reach 6.7% next fiscal: Crisil

India’s gross domestic product (GDP) growth is projected to improve to 6.7% in the next fiscal year (FY25), according to a Crisil Intelligence report. The report noted that a sustained decline in food inflation, combined with stable non-food inflation, could create room for a rate cut by the Reserve Bank of India (RBI) in the coming months. Headline inflation is steadily progressing toward the RBI's 4% target, as food inflation eased for the second consecutive month and non-food inflation rem...

January 7, 2025 8:16 PM

India’s GDP growth pegged at 6.4% for 2024-25

India’s Gross Domestic Product (GDP) is expected to grow by 6.4% in the financial year 2024-25, down from the 8.2% growth recorded in 2023-24, according to the first advance estimates released by the Ministry of Statistics on Tuesday. This projection is lower than the Reserve Bank of India’s (RBI) recent estimate of 6.6% for the current fiscal year. Despite this, India continues to retain its position as the fastest-growing major economy globally, while China’s growth rate is projected to...