ECONOMIC GROWTH

  • Barack Obama's year-end message to Americans: I'm not a lame duck Yesterday

    Washington: If US President Barack Obama is feeling the pain from a rough year at the office, he did a great job of covering it up on Friday. Before boarding Air Force One for a vacation in Hawaii, the President gave a year-end news conference with a spring in his step,...
  • GDP growth set to weaken, business wants reforms more than rate cut November 27, 2014

    Mumbai: Anticipating data out on Friday will show weakening economic growth, the finance ministry will argue for an interest rate cut, but bankers and company executives say the key to recovery lies in how fast Prime Minister Narendra Modi acts on reforms. "Interest rates are also important, but more important is...
  • India can grow at 9 per cent, become $10 trillion economy in 20 years: Report November 24, 2014

    New Delhi: India has the potential to achieve 9 per cent growth rate and become a $10 trillion economy by 2034 on the back of concerted efforts by the corporate sector and a constructive role played by the government, a PwC report said on Monday. "India is on the cusp...
  • Manufacturing growth may moderate in December quarter: FICCI November 23, 2014

    New Delhi: The country's manufacturing sector is likely to witness a moderate growth in the third quarter of this fiscal, according to a FICCI survey. Showing signs of recovery, industrial production grew at a three-month high of 2.5 per cent in September on account of better mining and manufacturing output....
  • G20 to focus on economic growth, infrastructure and tax avoidance November 15, 2014

    Brisbane: Boosting global economic growth, encouraging private sector investment in infrastructure, and cracking down on multinational companies which avoid tax were the top issues on the G20 agenda, Australian Treasurer Joe Hockey said on Saturday. Hockey, who is chair of the G20 finance ministers, made these remarks before finance ministers of...
  • Industrial output growth picks up in September to 2.5 per cent November 12, 2014

    New Delhi: India's industrial output grew a faster-than-expected 2.5 per cent year-on-year in September, helped by a rebound in capital goods sector, government data showed on Wednesday. Analysts polled by Reuters had forecast the output to grow a meagre 0.6 per cent. Industrial production was upwardly revised to 0.5 per cent...
  • Indian economy to grow by 6.4 per cent in 2015-16: World Bank October 7, 2014

    Washington: Indian economy, which accounts for 80 per cent of South Asia's output, is set to grow by 6.4 per cent in 2015-16 as against 5.6 per cent in 2014-15, the World Bank has said. With economic activity buoyed by expectations from the new elected government of Prime Minister Narendra Modi,...
  • ModiXi meet: Can strategic divergence meet economic convergence? September 17, 2014

    A combination the "world's factory" and the "world's back office" will drive global economic growth, Chinese President Xi Jinping said ahead of a rare visit to India on Wednesday, playing down mistrust that has kept the Asian giants apart. India's new Prime Minister, Narendra Modi, is determined to build closer...
  • Tamil Nadu's growth up at 7.29 pc in 201314, says CM Jayalalithaa September 15, 2014

    Coimbatore: Countering charges of various political parties linking poor governance to lower growth in Tamil Nadu, Chief Minister Jayalalithaa on Monday asserted that Gross State Domestic Product (GSDP) has increased to 7.29 per cent in 201314 from 3.39 per cent in 201213. Refuting the charges by the parties linking poor performance...
  • Economic prospects brighten, GDP to improve to 5.2 pc in 2014: Moody's September 10, 2014

    New Delhi: Rating agency Moody's on Wednesday said that the downside risks to the economy have receded and prospects have brightened with growth rate expected to accelerate to 5.2 per cent in 2014 and 6.5 per cent by end of 2015. "With risks receding and most sectors expanding, our 2014 forecast...
  • MH17 crash overshadows G20 trade summit July 19, 2014

    Sydney: Trade ministers from the world's leading economies met in Sydney on Saturday for the latest round of G20 talks, with the crash of Malaysia Airlines flight MH17 threatening to overshadow the summit. G20 chair Australia has sought to keep the meeting focused on economic growth, but Thursday's disaster in rebelheld...
  • Budget modestly credit positive for India: Moody's July 14, 2014

    New Delhi: Rating agency Moody's on Monday said the budget 201415 has outlined steps to support faster economic growth, but absence of detailed implementation plan makes it modestly credit positive for India. "Unless the budget is followed by a more specific implementation plan, as well as additional measures to address macroeconomic...
  • Worsening structural constraints led to sub5per cent growth: Survey July 9, 2014

    New Delhi: Worsening structural constraints like "illtargetted" subsidies and a low manufacturing base, are among reasons that dragged down economic growth rate to sub5 per cent level, the Economic Survey said on Wednesday. "The accentuation of structural constraints has been one of the factors contributing to sub5 per cent growth without...
  • Reforms to boost economic growth, says government July 8, 2014

    New Delhi: India's economic growth rate, which has dropped to sub five per cent level, is expected to gain momentum on the back of reforms, the government said on Tuesday. "After stabilising at a low level of around 5 per cent, growth in the Indian economy is expected to pick up...
  • India Inc sees GDP growth of 56 pc in FY15: Survey June 19, 2014

    Mumbai: As many as 81 per cent of Indian corporates believe the country's economy is likely to grow 56 per cent in the current financial year, says a survey. "India Inc expects the economy to grow between 56 per cent and rupee around 77 per cent to appreciate against the...
  • Abdul Kalam motivates IIT students, calls for bridging ruralurban divide June 6, 2014

    Former President APJ Abdul Kalam on Thursday stressed on bridging ruralurban divide in the world and said fruits of growth must reach every section of society. "Inequality between rural and urban population in the world must be removed.Equal distribution of resources will help in bridging the poorrich divide and it is...
  • Sri Lanka growth positive but needs to reduce debt: IMF May 30, 2014

    Colombo: Sri Lanka's economic growth has exceeded expectations last year, the International Monetary Fund (IMF) said today and forecast that the country's economy would grow by around 7 per cent in 2014. "Real GDP growth reached 7.3 per cent, inflation declined to below 5 per cent," Todd Schneider, the head of...
  • Kumar Mangalam Birla meets Jaitley; expects turnaround 36 months May 28, 2014

    New Delhi: Sounding a note of optimism, Aditya Birla Group head Kumar Mangalam Birla today exuded confidence that the Budget would give boost to infrastructure sector and a turnaround would be visible in the next 36 months. "I expect a turnaround to happen in 36 months. I also expect budget to give...
  • India likely to see weak economic growth, says OECD April 8, 2014

    London: India and many major emerging economies are expected to see weak growth even as prospects have stabilised in most of the advanced countries, says a report by Paris-based think-tank OECD. Besides India, Brazil and Russia are likely to witness economic growth weakening whereas the prospects look better for China. The...
  • Development economist laments India's poor economic growth April 1, 2014

    Development economist Jean Dreze on Tuesday expressed concern over India's tardy economic growth, which lagged behind neighbours like Nepal and Bangladesh in vital sectors. Dreze was delivering the ninth I.G. Khan Memorial Lecture on "Hunger and the Indian Enigma" at the Kennedy Auditorium of Aligarh Muslim University. Referring to the economic growth...
  • Economic growth to cross 5 pc this financial year: PM February 14, 2014

    New Delhi: Pinning hopes on the good monsoon and recent reforms, Prime Minister Manmohan Singh on Friday said economic growth will cross 5 per cent in the current financial year and accelerate further in the coming years. Addressing the Governors' Conference, Singh said the Indian economy, after many years of rapid...
  • The Last Word: What is the true state of Indian economy? February 10, 2014

    Finance Minister P Chidambaram on Saturday expressed confidence that the economic growth rate for the current financial year will be revised to not less than 5 per cent. Growth in 201213 slipped to a decadelow of 4.5 per cent. The economy expanded 4.6 per cent in the first half (AprilSeptember)...
  • Growth will not be less than 5 pc in 201314, says Chidambaram February 8, 2014

    New Delhi: Finance Minister P Chidambaram on Saturday expressed confidence that the economic growth rate for the current financial year will be revised to not less than 5 per cent. "I am confident that the final estimate will be not less than 5 per cent for the whole year," Chidambaram said,...
  • India's economic growth pegged at 4.9 pc in 201314 February 7, 2014

    New Delhi: India's economic growth rate in the current financial year has been estimated at 4.9 per cent, a faster pace than in the previous year, mainly on an improved performance in the agriculture and allied sectors. "The growth in GDP during 201314 is estimated at 4.9 per cent as compared...
  • Despite good economic growth, Congress isolated politically, says Chidambaram December 24, 2013

    Despite the country showing good economic growth in the last ten years, Congress has become politically isolated at the allIndia level and party leaders should find ways to overcome this, Union Finance Minister P Chidambaram said on Tuesday. Congress has been isolated politically in Tamil Nadu also, Chidambaram said. "It is...
  • RBI likely to reboot policy, focus on consumer inflation December 24, 2013

    The Reserve Bank of India (RBI) could soon unveil a major change in monetary policy to explicitly make managing consumer inflation, rather than wholesale prices, its main objective. The shift would be a significant one in a country that's long struggled to contain retail prices. It is expected as part of...
  • Rupee up 14 paise vs dollar in early trade November 29, 2013

    Mumbai: The rupee on Friday gained 14 paise to 62.27 against the dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters. Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market...
  • China GDP grows 7.8 per cent in third quarter; outlook murky October 18, 2013

    Beijing: China's economy grew 7.8 per cent in the third quarter, its fastest pace this year and in line with expectations, as firmer foreign and domestic demand lifted factory production and retail sales. Yet any optimism from the government figures released on Friday could fade quickly as global demand remains volatile,...
  • Drop in Trade deficit: Much ado about something? October 10, 2013

    The recent persistent drop in India's trade deficit has given us a reason to rejoice. Perhaps, it's a Diwali gift from goddess Lakshmi. But, what real implications if any does it have for the Indian economy and what to expect in the near future? The trade deficit has fallen as...
  • Delhi: Raghuram Rajan meets FM, discusses economic situation October 3, 2013

    Ahead of the RBI's central board meet, the central bank chief Raghuram Rajan on Thursday met Finance Minister P Chidambaram and is understood to have discussed economic issues. "Our meeting was part of regular interaction that takes place between RBI and Finance Ministry," Rajan said after his hour long meeting with...