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Updated: 2 hours 14 min ago
CRISIL raises India's GDP growth forecast to 6.8% from 6.4% for FY25
On the inflation front, Crisil expects softening to continue in the next fiscal on the back of healthier agriculture output that tames food inflation, and benign oil and commodity prices
Annual GDP growth for current FY could be very close to 8%: RBI chief Das
Das said rural demand had been improving and was much stronger than a year ago, while urban demand continued to be very strong
India Inc likely to see an average salary hike of 9.6% in 2024: EY report
The highest salary hikes are expected to be seen in e-commerce (10.9%), financial services (10.1%), and professional services and real estate (10% each)
MCA notifies Competition Act provision to levy penalty on global turnover
Competition Commission expected to soon publish guidelines on methodology for computing penalties
India to become upper middle-income nation by 2031, to grow at 6.8%: CRISIL
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to USD 7 trillion.
In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031.
"After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
It said that the next seven fiscals (2025-2031) will see the Indian economy crossing the USD 5 trillion-mark and inching closer to USD 7 trillion.
"A projected average expansion of 6.7 per cent in this period will make India the third-largest economy in the world and lift per capita income to the upper-middle income category by 2031," Crisil said.
India, with a GDP size of
India remains cautious on contracted Russian oil as new US sanctions bite
The three refiners had been in talks with Russia's Rosneft PJSC to secure about 500,000 barrels a day - equivalent to a third of India's daily imports
More than 2,500 fraud connections being cut daily, say DoT officials
DoT working on grievance redress portal
Bloomberg to add Indian bonds to emerging market indices in January 2025
Up to $3 bn inflows expected; they won't join Bloomberg Global Aggregate index
RBI bars JM Financial from financing against debentures and shares
Flags governance concerns; Order special audit
RBI's VRRR auction gets weak response, liquidity moves into surplus
However, this situation may be short-lived given the higher demand for funds to pay taxes and year-end targets, treasury executives said
Slowdown in growth in new orders, output drags services PMI in Feb to 60.6
The survey polled around 400 companies in transport, information, communication, finance, insurance, real estate, non-retail consumer and business services
RBI urges state refiners to make payments for some oil imports in Rupees
India is the world's third-largest crude importer and is forecast to be the leading driver of global consumption growth this decade
India, Indonesia bright spots for investment opportunities: BlackRock
US investment firm BlackRock sees India and Indonesia as two Asia-Pacific countries offering a lot of investment opportunities, its head of research for the region said on Tuesday
India's February services PMI eases to 60.6 on low business confidence
Despite having slipped, the headline index was comfortably above the neutral mark of 50.0 and signalled a sharp rate of expansion that was well above the series history
PM to unveil development projects worth over Rs 19,600 cr in Odisha today
The projects are from sectors including oil and gas, railways, roads, transport and highways and atomic energy
Moody's sees faster CY24 GDP growth; CMIE predicts low FY25 inflation
For the upcoming financial year, the RBI has projected growth of 7 per cent, while the State Bank of India (SBI) revised upwards its projection to 8 per cent
Chatroom: ADD not exempt on imports under the EPCG authorisations
TNC Rajagopalan answers SME queries related to GST, export and import matters
FM Sitharaman calls for clarity on GST classification-related issues
CBIC gave a presentation that it has detected fake input tax credit claim of Rs 1.14 trillion from the year 2020 till date
India blocks EU proposal to link trade with industrial policy at WTO MC13
The proposal was a major ask by the EU
India's unemployment rate in 2023 dropped to 3.1%, shows NSO data
Since the quarterly samples are drawn independently, estimates of labour force indicators for a calendar year have been obtained by combining the data from the four quarters of the calendar year