Jobs and exports
India's economic growth has been remarkable in recent years, earning it the title of the world's fastest-growing major economy. Yet, beneath this headline success lies a significant challenge: job creation.
India's economic growth has been remarkable in recent years, earning it the title of the world's fastest-growing major economy. Yet, beneath this headline success lies a significant challenge: job creation.
This includes Rs 7,15,224 crore in Tax Revenue (Net to Centre), Rs 3,01,796 crore in Non-Tax Revenue, and Rs 6,386 crore in Non-Debt Capital Receipts.
In a region fraught with challenges, Bangladesh under Sheikh Hasina’s leadership emerged as a beacon of stability for India. Her regime not only elevated bilateral ties between the two nations but also contributed to regional stability.
Riding on overall economic growth, Indian startups raised more than $395 million in at least 20 deals this week, a massive about 350 per cent jump from $113 million secured last week in 22 deals.
In July, foreign investors infused Rs 32,365 crore into Indian equities on the back of expectation of continued policy reforms and sustained economic growth and better-than-expected earnings season.
Growth in large Asia Pacific economies like China, India, and Indonesia will be less affected as their economies are more domestically oriented, said S&P Global Ratings on Thursday.
India needs to grow at about 9-10 percent GDP rate for the next two and a half decades translating into higher per capita income for its people, said Mr Amitabh Kant, Sherpa, G20 and former CEO of NITI Aayog.
Business of all sizes is having to grapple with issues ranging from rising inflation to conflict in Europe and renewed lockdowns in China. Amid these uncertainties, commerce remains an important driver of economic growth, with Standard Chartered predicting global trade will grow by 70 per cent to $30 trillion by the end of the decade.
The government last week reported that the economy, as measured by the country’s gross domestic product (GDP), expanded by a stronger-than-expected 8.3 per cent in the first quarter, the fastest pace in the region that brought the Philippines’ output back to pre-pandemic levels.
Meanwhile, authorities have reimposed some travel and business controls to fight outbreaks of the coronavirus’s more contagious delta variant that began in late July.
