V.Anantha News

Budget. The survey reviews the current financial year's economic performance and identifies national challenges. It also suggests future reforms and growth strategies. A team led by Chief Economic Adviser V Anantha Nageswaran prepared the document. The survey covers economic and sector-specific developments and offers an outlook for the next financial year.

CAG is set to conclude in November, and a high-ranking official with close ties to the Modi administration is likely to be chosen to oversee the Centre's financial oversight. While Murmu's position requires a new appointee, three other pivotal roles — the Reserve Bank of India (RBI) Governor, Chief Economic Adviser (CEA), and Securities and Exchange Board of India (SEBI) Chairperson — offer the possibility of reappointment. Following Murmu’s tenure, attention will shift to the RBI’s leadership. Shaktikanta Das, who became RBI Governor in December 2018 after the sudden resignation of Urjit Patel, is nearing the end of his second term. Das, a former bureaucrat known for maintaining strong government relations and navigating India’s financial landscape smoothly, may either continue in this role or pass the mantle, with a decision expected in December.

The quarterly figure was in line with an ET poll median estimate of 6.85%, slipping from 7.8% in the last quarter of FY24 and 8.3% in the year before. The Reserve Bank of India (RBI) had forecast 7.1% growth for the quarter. However, gross value added, which strips out indirect tax and subsidies, is estimated to have grown 6.8% compared with 6.3% in the preceding quarter. «India was the fastest-growing major economy in the June quarter. Data shows better alignment between demand and supply sides of the economy in the quarter,» said chief economic adviser V Anantha Nageswaran.

inflation met with skepticism from many economists, who say it’s inappropriate to ignore the costs of everyday items that consumers can’t do without.

Union Budget 2024, Finance Minister Nirmala Sitharaman tabled the Economic Survey 2023-24 report, along with the statistical appendix, in the Lok Sabha. The Economic Survey is an annual document presented before the Union Budget to assess the state of the economy and provide an overview of its short-to-medium-term prospects.

The Economic Survey for 2023-24 placed before Parliament on Monday is forthright on some aspects. Its straight talk on the need for private companies to use the profits they’ve piled up, thanks partly to a tax cut, to invest in India is an example. The hypocrisy of the rich world in expecting us to start phasing out fossil fuels at this juncture of the economy’s emergence is also squarely dealt with, especially the “Alice in Wonderland" air around some global plans.

Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman said that the pre-bugdet document highlighted the prevailing strengths of India's economy.

The traditional signal for a market bubble, as the popular adage goes, is when your cab driver or barber discusses stocks. The top-down variation of this indicator must be when finance ministry mandarins talk about asset allocation and profit booking. The Economic Survey 2024, tabled in Parliament by finance minister Nirmala Sitharaman on Monday, highlighted various drivers of the Indian economy and suggested policy measures to lift growth and safeguard economic resilience.

economic adviser V Anantha Nageswaran on Saturday called on the industry to reciprocate the government's deregulation bid with concrete action on improving the quality of products and earning consumer trust, stressing that «it takes two to strike a bargain for society to advance.» «It's one thing to ask the government to deregulate to simplify rules and decriminalise rules; but it's another thing to reciprocate that action with trust and better quality as well,» the CEA said at a Confederation of Indian Industry event. Flagging reports of Indian automobiles failing safety standards, and of misleading labelling on food products, he said the industry has to make a compact with society as well.

NEW DELHI : Private investments are expected to pick up thanks to a rise in domestic demand and high capacity utilization, the Confederation of Indian Industry’s Business Confidence Index (CII-BCI) survey showed. Two-thirds of the survey’s respondents expect sales and new orders to increase in the second quarter of FY24 faster than in the previous quarter, while half the respondents (53%) feel that capacity utilization in their company would be 75-100% in the September quarter.

emerging market global bond indices marks the end of nearly a decade of negotiations between the government and the international index provider, with the potential to draw inflows of more than $40 billion into Indian bonds over the next 18 months. On Thursday, JPMorgan Chase announced that 23 Indian government bonds, with a combined nominal value of $330 billion, have been found eligible to be added to the Global Bond Index Emerging Markets Index (GBI-EM). The bonds will be included in the indices over 10 months, starting 28 June 2024, with 1% weight being added per month, and is expected to reach the maximum weight of 10% by 31 March 2025.

NEW DELHI : The Indian economy expanded 7.8% in the first quarter of the current fiscal year on higher government and private capital expenditure and strong services growth, official estimates released on Thursday showed. A Mint poll of 22 economists had estimated the growth in gross domestic product (GDP) at around 7.8%. In the fourth quarter of 2022-23, GDP growth stood at 6.1% against a 4.4% growth rate witnessed in the preceding three months, according to data from the National Statistics Office (NSO).

Cryptocurrencies traded in the red early on June 12. The global crypto market cap is $1.13 trillion, a 5.09 percent decrease over the last day. The total crypto market volume over the last 24 hours is $71.55 billion, which makes a 6.14 percent increase.

Chief economic adviser has said cryptocurrencies are yet pass muster as fiat currency