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 adverse factors affecting the US and European economies put our own economy at risk. To enumerate: the Indian economy faces the danger of capital outflow because of higher US interest rates. Then, we are importing inflation through higher cost of imported goods and because household incomes in the West are falling, our own exports are unlikely to rise in the short run, ruling out a quick solution to the CAD problem
In the 96th edition of his monthly 'Mann Ki Baat' program, Narendra Modi said the year 2022 has indeed been very inspiring and wonderful in many ways.
With gloomy global economic outlook, Moody's Investors Service turned moody on Friday and cut 2022 gross domestic product (GDP) projections for India to 7 per cent and projected 2023 at 4.8 per cent.
We have ensured the availability of free food grains to more than 800 million vulnerable families for the past 25 months, through the country's massive public distribution network, said Finance Minister Nirmala Sitharaman.
A combination of factors like wider opening, improving labour market and terms of trade for the rural sector will result in rural demand rebound in India, said Morgan Stanley on Wednesday.
