Norms tightened after flagging regulatory violations by some lending platforms

Modi confident India will continue to grow at more than 7%

Reserves rose by $12.58 billion, marking the fifth-highest weekly increase

Describing India as a sweet spot amid global uncertainty, Prime Minister Narendra Modi on Friday said the country is undergoing transformational changes to sustain its high economic growth trajectory. Speaking at the 3rd edition of the Kautilya Economic Conclave here, Modi committed to continuing structural reforms to help India become a developed nation by 2047. Jobs, skills, sustainable growth and continuing rapid expansion are the focus of Modi 3.0, he said. "Today, amid a global emergency, we are here discussing about the Indian Era', this shows how the world trusts India...India is the world's fastest-growing and the 5th largest economy. In terms of fintech adoption rate, we stand as the top nation," he noted. India is the largest manufacturer of two-wheelers and tractors, and the second largest manufacturer of mobile phones, he said. Stressing that 'Reform, perform and transform' is the guiding mantra of his government, Modi said, "When the lives of people are transformed, t

According to the minister, the social security coverage details that have been shared with the US cover about 930 million people in India

India is only the fourth economy in the world to cross $700 billion in reserves after China, Japan, and Switzerland

The finance minister said that the effects of the last ten years of economic and structural reforms would manifest more thoroughly in the coming years, as the Covid shock fades from the economy

The escalation in the US-China trade war is expected to help India increase its exports and attract investments from American companies, think tank GTRI said on Friday. He said that last month, the US Senate introduced two bills that could intensify the trade war and have major global economic impacts if passed. The 'Neither Permanent Nor Normal Trade Relations Act' (PNTR Act) and the 'Axing Non-Market Tariff Evasion Act' (ANTE Act) aim to counter China's trade practices by raising tariffs and imposing new trade barriers. The PNTR Act seeks to phase out China's favourable trade status, while the ANTE Act targets non-market economies like China and Russia with tougher measures, the Global Trade Research Initiative (GTRI) said. "While these bills aim to protect US industries, they also create opportunities for countries like India to grow their manufacturing sectors. "As US companies look for alternatives to China, India could see increased investment in electronics, textiles, and .

New business intakes expanded sharply at the end of the second financial quarter, but the pace of growth retreated to a 10-month low

India will witness the steepest rise in living standards of the common man on the back of the government's initiatives and the efforts towards doubling per capita income in few years, Finance Minister Nirmala Sitharaman said on Friday. Addressing the 3rd edition of the Kautilya Economic Conclave, the minister stressed that inequality in India has declined with the Gini coefficient, a statistical tool to measure inequity, showing improvement in urban as well as rural areas. "I expect these improvements to continue as the effects of the last ten years of economic and structural reforms manifest more thoroughly in the data in the coming years as the Covid shock fades from the economy," Sitharaman said. The upcoming decades, the minister said, "will see the steepest rise in living standards for the common man, truly making it a period-defining era for an Indian to live in". "While it took us 75 years to reach a per capita income of USD 2,730, as per IMF projections, it will take only f

The Reserve Bank of India denied European Securities and Markets Authority's request to co-supervise Indian transactions, citing concerns over "extra-territorial reach"

RBI Governor Shaktikanta Das has repeatedly stressed the need to build a forex buffer to act as a shield during periods of market volatility

A sharp rise in prices and a shortage of onions, potatoes, and tomatoes have driven up the costs of veg thalis in September 2024

Speaking at Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman noted that while it took the country 75 years to achieve a per capita income of $2,730, the next leap will be much faster

For more than three years, the index has stayed above the 50-mark separating expansion from contraction

The Union govt has allocated over Rs 1 trillion to support two major agriculture support schemes: the PM-Rashtriya Krishi Vikas Yojana (PM-RKVY) and Krishonnati Yojana

Goyal, speaking at Center for Strategic and International Studies in Washington after signing, described the MOU as a multi-dimensional partnership that would include open supply chains for materials

The Central share in the Rs 101,321 crore allocation is Rs 69,088.98 crore, and the state share is Rs 32,232.63 crore

Exception for commercial buildings meant for renting, leasing purposes

The agency projects a gradual reduction in India's general government debt-to-GDP ratio, from the current 80 per cent to 78 per cent by FY30 and 73.5 per cent by FY35