As the government forecasts a second consecutive year of above-average monsoon rainfall, the implications for India’s economy ~ and particularly its rural heartland ~ are profound.
"I am confident that within the next few years, we will be the third-largest economy in the world," the Union Home Minister said.
NITI Aayog CEO B V R Subrahmanyam on Thursday said the Indian economy will be bigger than Germany and Japan in the next three years.
India's central bank has once again stepped in with a measured response to the growing economic uncertainty by cutting the repo rate by 25 basis points, bringing it down to 6 per cent.
Samajwadi Party President and former Uttar Pradesh chief minister Akhilesh Yadav said that the loss of about Rs 19 lakh crore to the stock market in a day is a clear sign of recession for the Indian economy.
India faces a 26% reciprocal tariff—half of the 52% duty it levies on American imports. China, meanwhile, will see a 54% tariff in response to its 67% duty on US goods.
Prime Minister Narendra Modi on Thursday said that India's achievements and successes sparked a new wave of hope across the globe, adding that once perceived as a nation that would sink itself and others, the country is now driving global growth.
India’s economic ambitions rest on its ability to foster a generation of entrepreneurs willing to take risks, build industries, and create jobs.
The World Bank in a report on Friday said India’s economy needs to expand at an average growth rate of 7.8 per cent over the coming decades to become a high-income country.
The World Bank has expressed strong confidence in the Indian economy and appealed to all to come forward to invest in the country.
