China praises India: According to the author Zhang Jiadong, the shift reflected India's ambitions to escape its historical colonial shadow and position itself as a global influencer, politically and culturally.
The retail inflation based on the consumer price index (CPI) had touched a high of 7.8 per cent in April 2022. However, now it has been close to the Reserve Bank's target of 4 per cent.
India's economic growth: The International Monetary Fund recently predicted real growth for India at 6.8% this year and 6.1% the following year.
Business news updates: This is a sharp 1.1 percentage points cut from the growth projection of 8.8 per cent for current year made in May by Moody's.
India's economy is expected to see a swift recovery from the impact of the second wave of COVID-19 as lockdowns were largely designed to limit social gatherings and did not affect economic activities much.
Moody's Investors Service on Monday said that India's weak household consumption will curb economic growth and weigh on the credit quality of Indian issuers in a range of sectors. Moody's has lowered its GDP growth projection for India for the fiscal year ending March 2020 to 4.9 per cent from 5.8 per cent.
Former prime minister Manmohan Singh said on Friday the GDP growth rate of 4.5 per cent was unacceptable and worrisome, and urged his successor Narendra Modi to set aside "deep-rooted suspicion" of society and nurse India back to harmonious, mutually trustworthy society that can help the economy soar.
India's economic growth has slowed to 4.5 per cent in July-September from 7 per cent a year ago, government data said on Friday.
Inundated with congratulatory messages, the Twitter handle of the new Minister of Finance and Corporate Affairs also contains in-depth advices on the next level of economic reforms and growth-oriented moves that she should undertake.
The IMF cut India's growth projections for this year by 0.2 per cent from the 7.5 per cent made in January to 7.3 per cent. It projected next year's growth at 7.5 per cent, though lower than the earlier 7.7 projection. The Asian Development Bank said India's growth rate would be 7.2 per cent this year and 7.3 per cent next year.
New Delhi: India's economy is likely to recover and achieve 6 per cent growth in 2014-15 on the back of sound economic policies and a pick-up in investment, Finance Minister P Chidambaram said today.“If investments
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