Anantha Nageswaran News

Subscribe to enjoy similar stories. NEW DELHI : Despite Indian exports attracting higher tariffs in the US market than Chinese shipments, the China-plus-one strategy remains relevant for multinational firms, chief economic adviser V. Anantha Nageswaran said in an interview.

Subscribe to enjoy similar stories.Indian business rarely does exactly what the government wants it to. For the past decade or so, for example, it has obdurately refused to invest as much as officials think it should.Last week, chief economic advisor V. Anantha Nageswaran said that profits for the 500 largest publicly traded companies had grown by over 30% a year since the pandemic, “but still, our overall capital formation rates from the private sector have been disappointing.”Nageswaran is not the only one complaining.

For the rupee, finding a floor seems to be getting difficult. On Wednesday, it slid past the psychologically-important 90 mark against the dollar to touch an all-time low of 90.29, before recovering slightly to end at 90.19. For the year, it is down about 5%.

Lok Sabha during the ongoing Budget session of Parliament, highlighting the significance of the Maha Kumbh. He said the entire world witnessed the grandeur of India during Mahakumbh. «I am here to give statement over Maha Kumbh which was held in Prayagraj. Through this House today, I salute the people of the country because of which the Maha Kumbh was held successfully. Several people had a role to play in the success of Maha Kumbh. I thank all the 'karm yogis' of the government and society.»

Subscribe to enjoy similar stories. With globalization in retreat and global growth impulses weakening, how can India’s economy sustain a pace of 8% expansion for at least a decade? As Economic Survey 2024-25 notes, that’s what Viksit Bharat would need. Its most notable prescription, thus, is deregulation.

chief economic advisor (CEA) V Anantha Nageswaran said on Monday, making a case for drastic deregulations.

Finance Minister Nirmala Sitharaman is likely to present the Budget for FY 2025-26 in the Parliament on February 1, 2025. Prior to the presentation, the Ministry of Finance will publish the Economic Survey, which is followed by a press conference addressed by the Chief Economic Advisor and other senior officials of the Finance Ministry. The big theme for the upcoming survey will be deregulation, or the process of letting go of regulations in some spheres, Chief Economic Advisor V Anantha Nageswaran said on December 6.

The sharply lower print will dent the full-year growth number while intensifying pressure on the Reserve Bank of India (RBI) to advance interest rate cuts. Gross domestic product (GDP) growth was 6.7% in the April-June period and 8.1% in the second quarter of FY24. Chief economic advisor V Anantha Nageswaran said the unexpected deceleration was an isolated development.

Trump’s return to the White House, chief economic adviser (CEA) V Anantha Nageswaran said on Wednesday, cautioning against any “kneejerk reaction” to the current bout of stock market volatility. The CEA was in conversation with economist Prachi Mishra at the ET India Ascends event. While capital has flooded into the US markets over the past week in the aftermath of Trump’s victory, “I'm not entirely sure that this will sustain over a very long term,” he said. “Because even before this election happened, US stocks were somewhat elevated in valuation, etc., and the Federal Reserve is cutting interest rates. So I think we can give some time for the financial markets to take a breath….”

Raghuram Rajan, former Reserve Bank of India (RBI) Governor, has cautioned against excluding food prices from inflation calculations. As inflation remains a key concern for the central bank, Rajan's stance is that removing food inflation from headline inflation targets could erode public's 'great faith' in the central bank's ability to manage the broader economic picture. «So, if you leave out some of the most important parts of inflation and tell them, inflation is under control, but food prices are going through the roof… they would not have great faith in the Reserve Bank,» Rajan told PTI in an inerview. Food prices have always played a significant role in shaping India's inflation picture. The current consumer price inflation (CPI) basket assigns a weight of 46% to food, a figure that many argue needs to be revisited as consumption patterns evolve. Nevertheless, Rajan maintains that food prices cannot be dismissed, as they constitute a significant portion of household spending and influence how the general public perceives inflation.

Private sector investment has been improving after Covid-19 and it is expected to further pick up in the coming months, Chief Economic Advisor V Anantha Nageswaran said on Monday. Talking to PTI after tabling of the Economic Survey in Parliament, Nageswaran said private sector investment has been improving over the years after Covid-19.

Economic Survey 2023-24 will be tabled in Parliament today by Finance Minister Nirmala Sitharaman. This document reviews the economic performance of the past fiscal year and provides a future outlook. It covers India's fiscal policy trajectory, the evolution of banking and capital markets, and the performance of the manufacturing and services sectors.

NEW DELHI : India's economy likely expanded at 8% through fiscal year 2024 (FY24), and growth in the current year is projected at 7%, V Anantha Nageswaran, chief economic adviser to the government, said on Wednesday. Speaking at an event organized by think tank National Council of Applied Economic Research (NCAER), Nageswaran said that for the Indian economy to register 7% or higher growth for the fourth consecutive year in FY25, “a lot would depend on the monsoons." "Right now, the expectations are that we will have an above-normal monsoon. But, spatial and temporal distribution (of rainfall) will matter," he said.

investment are going to create more job opportunities during the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday. The last decade of the century was marked by a decline in capital formation in the economy and moderation in credit growth, he said at an event here. «Hopefully, those things are a thing of the past. Non food credit growth is now running close to 20 per cent, balance sheets of companies and banks are in good shape and hiring (is showing improvement),» he said. Quoting 2021-22 data, he said, employment in agriculture declined by 15 lakh, manufacturing and services added 37 lakh jobs each and the construction sector generated 19 lakh jobs, he said.

capital formation in the economy, accompanied by various government measures, will generate more job opportunities in this decade than the previous one, chief economic advisor (CEA) V Anantha Nageswaran said on Tuesday. Speaking at an event, he said the decline in fixed investment and the moderation in credit expansion, which had hurt economic growth prospects in the previous decade, were hopefully «a thing of the past». «Non-food credit growth is now running close to 20%, balance sheets of companies and banks are in good shape and hiring (is improving),» Nageswaran said. Citing the 2021-22 data he said jobs in the farm sector had declined about 1.5 million but manufacturing and services added 3.7 million each and the construction sector created 1.9 million jobs.

NEW DELHI : Credit rating agencies need to reform their sovereign rating process to correctly reflect the default risk of developing economies, saving billions in funding costs, the government’s chief economic adviser, V Anantha Nageswaran, said on Thursday. His comments coincide with India seeking an upgrade to its sovereign credit rating, currently at the lowest possible investment grade, as the South Asian nation has seen its economic metrics improve considerably since the pandemic.

Bank of India on Friday raised its growth expectations for India’s economy in the current financial year to 7%, from its earlier projection of 6.5%, taking comfort from rising rural consumption and increasing capital expenditure. Shah, also group chief executive and managing director of automaker Mahindra & Mahindra Ltd, said fresh investments were evident in some sectors. “If I comment first on the auto sector, from Mahindra’s perspective, we have doubled capacity for SUVs already… we’ve been ahead of the curve on this.

RBI) own estimate of 6.5%, in the shade. At 7.6%, Q2 growth came on the back of buoyancy in manufacturing (at 13.9%) and construction (13.3%). Gross value added (GVA), often seen as a better estimate of the true level of activity, grew 7.4%.

NEW DELHI : The Indian economy shot past expectations to clock an impressive 7.6% growth in the September quarter, retaining its crown as the world’s fastest-growing major economy. That’s a major step-up from 6.3% in the corresponding period of the previous fiscal year. While manufacturing, mining and construction put up a robust show, agriculture cooled thanks to an erratic monsoon, National Statistical Office (NSO) data showed.

real growth rate of 7.6% in the September quarter holds India in good stead to realise the projected growth rate of 6.5% in FY24, chief economic advisor (CEA) V Anantha Nageswaran said on Thursday, adding that any possible upside to the full-year forecast in the wake of the latest robust performance would be worked out. Addressing the media after the release of GDP data, Nageswaran also highlighted that tax revenue has grown at almost double the pace of nominal GDP expansion in the first half of FY24, which is unusual. This, he said, is prompting him to wonder if the nominal growth rate has been understated. It's certainly not overstated, as is the perception in certain quarters, he asserted. The nominal GDP grew 8.6% (without adjusting for inflation) in the first half of this fiscal, while the tax revenue rose 16.3%. «We will keep the (real) GDP growth estimate at 6.5% but we are more comfortable (with the projection) than before.

NEW DELHI : The government will examine the quantifiable implications of the monsoon shortfall, and the impact on rural consumption and demand, Chief Economic Advisor to the government, V. Anantha Nageswaran said in an interview. Nageswaran also said supply-side measures taken by the government to tame inflation will see success in the medium to long term.