The state is focusing on ramping up hospitality units in tourism hotspots such as Varanasi, Ayodhya, Prayagraj, and Agra

Union Finance Minister Nirmala Sitharaman said here on Tuesday that India has been the fastest growing economy in the last three consecutive financial years and this growth can continue in the coming years as well. She said the next 25 years will be critical for India. In the financial year 2023-24, India witnessed a growth rate of eight per cent in three quarters and is expecting a similar level of growth in the fourth quarter, she said, adding it has been a sustainable growth. "India has been the fastest growing economy in the last three consecutive financial years and this growth can continue in the coming years as well. The next 25 years will be very critical for India," Sitharaman said in a dialogue programme with industrialists and businessmen. She said that foreign investors are coming to invest in India due to the credibility of its economy. "Due to the economic policy, larger macroeconomic stability, stable government, stable taxation policy, transparent tenders and ...

India's unemployment rate is likely to decline by as much as 97 basis points by 2028 as the country's economy hits the USD 5 trillion mark, fuelling a rise in employment, a new report said on Tuesday. Unemployment rate -- the percentage of people in the labour force who are without jobs -- is projected to fall from 4.47 per cent in 2024 to 3.68 per cent in 2028, the India Employment Outlook 2030 report by thinktank Observer Research Foundation (ORF) said. "India's job market is experiencing a transformation as the country has become the world's fastest growing large economy in the aftermath of the Covid-19 pandemic," the report said. The country's young population, whose median age is 28.4 years, holds a key to fuelling economic expansion. "With a GDP growth rate of 7.8 per cent, India could potentially achieve its target of becoming a USD 5-trillion economy by 2026-27, with such growth being underpinned by strong private consumption and public investment," it said. India's gross

The central bank seeks to ensure inflation aligns durably and sustainably to its 4 per cent target

According to commerce department officials, the top five export market of electronics good are - the US, United Arab Emirates, Netherland, United Kingdom, and Italy

Slowdown in the decline of 2G subscribers hurting smart phone sales

The tax, which is revised every fortnight, will remain unchanged at zero for diesel and aviation turbine fuel

According to the report by SBI researchers, the total amount of deposits has risen by 143 per cent in the last five years to Rs 34 lakh crore at the end of FY24 from Rs 14 lakh crore

Even after becoming the third largest economy in the world by 2029 as envisaged by Prime Minister Narendra Modi, India may still be a poor country and therefore there is no reason for celebration, former Reserve Bank Governor D Subbarao said here on Monday. Addressing a gathering at a book launch programme, Subbarao also said, citing Saudi Arabia, that becoming a rich country does not necessarily mean becoming a developed nation. Recalling PM Modi saying that if he returns to office, India will become the third-largest economy before 2029 -- before the end of his third term, he said many economists predict that the country would become the third largest after the US and China, much sooner. In my view, that is possible (India becoming the third-largest economy), but it's not a celebration. Why? We are a large economy because we are 1.40 billion people. And people are a factor of production. So we are a large economy because we have people. But we are still a poor country, Subbarao ..

However, Indian rupee on Monday performed better than the majority of the Asian currencies

India's trade deficit at 11-month low in March

A majority of the advances of UCBs was given to MSMEs (micro, small & medium enterprises), amounting to Rs 1.3 trillion in FY23 against Rs 1 trillion in FY22

The overall FY24 wholesale headline inflation stood at -0.7 per cent as compared to 9.6 per cent in FY23

Some had higher inflation every month of the year

India's engineering exports edged up to USD 109 billion in 2023-24 despite a slowdown in some of the major global markets amid geo-political tensions, EEPC said on Monday. India's engineering exports are competitive globally and expected to gain further market share in the coming years, with the country entering into more FTAs, it added. The apex body of engineering goods exporters expects the value of shipments from the sector to rise to USD 300 billion by 2030 and generate a significant number of jobs and foreign exchange earnings in the process. Notably, the engineering sector is the largest contributor to India's overall exports, with a share of 24 per cent, and also contributes approximately 40 per cent of the country's total manufacturing exports. "The engineering goods exports in FY24 surpassed the previous year's numbers despite a slowdown in some of the key global markets, geo-political tensions, Red Sea crisis and high freight rates," said EEPC India Chairman Arun Kumar .

According to commerce ministry data released on Monday, the imports during 2023-24 stood at 677.24 billion, down 5.41 per cent from $715.97 billion in the preceding year

WPI for potato witnessed a jump of 52.96 per cent against a deflation of 25.59 per cent, while for onion 56.99 per cent as compared to (-) 36.83 per cent in March 2023

Over 460 million loans worth of Rs 27 trillion have been given so far under Mudra yojana.

The government has set a fiscal deficit target of 5.1 per cent for FY24-25 to stay on track to meet the glide path set in 2021-22. The government aims to reduce the fiscal deficit to 4.5% by FY26

The report suggests grants from Centre to states have been falling due to no GST compensation funds and lower finance commission grants