Indian Economy

October 14, 2024 11:17 AM

5G to inject USD 450 billion into Indian economy by 2040: Telecom Minister Scindia

Union Minister of Communications Jyotiraditya Scindia said on Monday that the adoption of 5G technology in India is expected to contribute an estimated $450 billion to the country’s economy by 2040. Speaking at the Global Standards Symposium, one of the world’s largest telecom events, held at Bharat Mandapam in New Delhi, Scindia said: "In India alone, 5G is anticipated to inject an astounding 450 billion dollars into the economy by 2040." Scindia underscored that 5G is about more than jus...

August 30, 2024 10:21 PM

Indian economy records 6.7% growth in April-June quarter, below RBI forecast

The Indian economy expanded by 6.7% in real terms during the April-June quarter of the financial year 2024-25, as reported by the Ministry of Statistics and Programme Implementation on Friday. This growth rate is lower than the 7.1% forecast made by the Reserve Bank of India (RBI). For the same period last year, India had recorded an 8.2% growth rate. In terms of nominal GDP, the growth rate for the April-June quarter of 2024-25 was 9.7%, compared to 8.5% in the corresponding quarter of the pre...

August 30, 2024 4:35 PM

Indian economy has transformed from ‘Fragile Five’ to ‘Fabulous Five’: Defence Minister Rajnath Singh

Defence Minister Rajnath Singh said on Friday that the Indian economy has progressed from the 'Fragile Five' in 2014 to the 'Fabulous Five' in 2024. Speaking at the 'Manorama News Conclave 2024' in Thiruvananthapuram, Singh emphasized that India is now recognized globally as one of the fastest-growing large economies. "India's economy has undergone unprecedented changes. Before 2014, India's economy was among the 'Fragile Five'. Today, it is recognized all over the world as one of the 'Fabulous...

May 15, 2024 12:01 PM

Moody’s expects India to grow 6.6% in 2024-25 fiscal

The Indian economy is expected to grow at 6.6 per cent in the current financial year 2024-25, fuelled by strong credit demand that will support the NBFC sector's profitability, Moody's Ratings said. The rating agency's 2024-25 GDP growth estimates are, however, lower than the projections made by the RBI. The RBI, in its latest monetary policy review meeting, projected Indian economy to grow at 7 per cent in 024-25. The global rating agency for the next financial year 2025-26 pegged India's gro...

April 23, 2024 3:01 PM

Indian economy’s stellar performance to continue with 7% growth: RBI member

India's economy is showing no signs of slowing down, with the Reserve Bank of India's Monetary Policy Committee (MPC) member Shashanka Bhide exuding confidence that the country can sustain a robust 7% growth rate in the current fiscal year and beyond. Bhide says that owing to favorable monsoons, high agricultural productivity, and an improving global trade environment, India can maintain a 7% growth rate in the current fiscal year and beyond. This boost comes on the heels of India's impressive ...