Nirmala Sitharaman

July 22, 2024 5:17 PM

India to remain fastest growing major economy in 2024-25, says CEA Nageswaran

India is poised to remain the fastest-growing major economy in 2024-25, Chief Economic Adviser V Anantha Nageswaran stated in a press conference after the tabling of the Economic Survey in Parliament on Monday. The Economic Survey projects India to grow at a rate of 6.5-7.0 percent in 2024-25. Global institutions, including the IMF, OECD, World Bank, S&P, ADB, and Fitch, have forecasted India's growth within a range of 6.6-7.2 percent. The International Monetary Fund (IMF), in its latest o...

September 16, 2024 5:23 PM

Indian economy capable of growing at sustained rate of 7%: Economic Survey

The Economic Survey presented in Parliament today by Finance Minister Nirmala Sitharaman paints an optimistic picture for India's economic future. According to the survey, the Indian economy has the potential to sustain a growth rate of over 7% in the medium term, provided it builds on the structural reforms undertaken over the last decade. This ambitious growth target, however, is not without conditions. The survey emphasizes that achieving this sustained growth will require a concerted effort...

July 22, 2024 5:08 PM

Govt’s timely interventions, RBI’s measures helped maintain retail inflation at 5.4 percent: Economic Survey

The annual Economic Survey, tabled by Union Finance Minister Nirmala Sitharaman in Parliament on Monday, states that despite the pandemic and geopolitical tensions, timely policy interventions by the central government and the Reserve Bank of India's price stability measures helped maintain retail inflation at 5.4 percent. During FY22 and FY23, the COVID-19 pandemic, geopolitical tensions, and supply disruptions contributed to rising global inflationary pressures. In India, consumer goods and s...

September 16, 2024 5:23 PM

India recovered, expanded in orderly fashion post-pandemic: Economic Survey 2023-24

The Indian economy has recovered and expanded steadily after the pandemic, with the real Gross Domestic Product (GDP) in 2023-24 increasing by 20 per cent compared to the pre-pandemic level of 2019-20, according to the Economic Survey 2023-24 tabled in Parliament on Monday. This upward trajectory, the Survey highlights, is a feat achieved by only a few major economies. "Prospects for continued strong growth in FY25 beyond look good, subject to geopolitical, financial market and climatic risks,...

September 16, 2024 5:52 PM

Indian economy on a strong wicket in face of geopolitical challenges: Economic Survey 2023-24

The Indian economy continues to expand, demonstrating resilience amidst geopolitical challenges, according to the Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday. The 476-page Economic Survey report highlights that the Indian economy has consolidated its post-COVID recovery, with fiscal and monetary policies ensuring economic and financial stability. However, the survey warns that global volatility could hinder the achievement of ambitious growth t...

September 16, 2024 5:52 PM

Finance Minister Nirmala Sitharaman to table Economic Survey in Parliament today

Union Finance Minister Nirmala Sitharaman will table the Economic Survey 2023-24 along with a statistical appendix in Parliament on Monday, a day ahead of the Union Budget. The Budget Session of Parliament will commence today (Monday) and subject to the exigencies of government business, the session is likely to conclude on August 12. Union Ministers Nirmala Sitharaman, Jayant Chaudhary, Pankaj Chaudhary, Kirtivardhan Singh and Sukanta Majumdar will present the document on the table in Lok Sabh...

July 11, 2024 4:34 PM

Union Budget 2024: PM Modi meets eminent economists and sectoral experts

In preparation for the Union Budget 2024, Prime Minister Narendra Modi convened a meeting with economists and sectoral experts on Thursday. This meeting, which also saw the participation of Finance Minister Nirmala Sitharaman, was a key step as the government gears up to present its full Budget after coming to power third term. The pre-Budget meeting was attended by notable figures including Niti Aayog Vice Chairman Suman Bery and other members of the planning body. The gathering was marked b...

June 23, 2024 1:52 PM

GST exemption granted to platform tickets and essential railway services

Finance Minister Nirmala Sitharaman announced that the next meeting of the Goods and Services Tax (GST) Council is tentatively scheduled for mid to late August. GST Council proposes exemption for specific services offered by Indian Railways to the general public, as well as for intra-railway transactions. The sale of platform tickets and services such as retiring rooms, waiting rooms, cloakroom facilities, and battery-operated car services are now exempt from GST. This session aims to addr...

September 16, 2024 6:09 PM

Indian stocks trade firm ahead of May inflation data release

Indian stock indices kicked off Wednesday's trading session on a positive note, with the Sensex and Nifty both up 0.3% and hovering just below their all-time highs. The bullish trend comes ahead of the highly anticipated release of India's May inflation data, as investors brace for potential market-moving revelations. After a largely stable Tuesday, the Indian equity markets continued their recent bull run, with most sectoral indices trading in the green. This upbeat sentiment follows Monday's ...

September 16, 2024 6:38 PM

Union Ministers Take Oath at Rashtrapati Bhavan

In a grand ceremony held at the forecourt of Rashtrapati Bhavan on Sunday evening, Prime Minister Narendra Modi took oath for the third consecutive time. Following his oath, several key leaders of the Bharatiya Janata Party (BJP) were inducted into the Union Cabinet by President Draupadi Murmu. Amit Shah Amit Anilchandra Shah, the second minister to be sworn in after Rajnath Singh, took his oath as a Union Cabinet Minister. The 59-year-old BJP leader and key strategist, who served as...