The Eastern path~I
India's Act East policy was launched in 2014. As pointed out by Prime Minister Modi, it rests on four pillars: Culture, Commerce, Connectivity and Capacity.
India's Act East policy was launched in 2014. As pointed out by Prime Minister Modi, it rests on four pillars: Culture, Commerce, Connectivity and Capacity.
India’s economic outlook remains resilient, but it’s clear that a complex interplay of global and domestic pressures demands careful navigation.
Reserve Bank of India Governor Shaktikanta Das has signalled a cautiously optimistic stance on inflation management, underscoring the dual focus on growth and price stability.
The Indian economy could grow between 7-7.2 per cent in the current fiscal on strong government spending, and higher manufacturing investments, Deloitte India said on Tuesday.
The country is expected to become a $4 trillion economy in 2024–2025, which would make it the world's fourth-largest economy.
The economy had shrunk by an unprecedented 23.9 per cent in the first quarter of this fiscal due to the coronavirus pandemic and resultant lockdowns.
It can be noted that the Indian economy contracted by 23.9 per cent in the first quarter of the fiscal year, and the RBI expects the economy to shrink by 9.5 per cent in FY21.
In the manufactured products category, inflation stood at 2.12 per cent in October, compared to 1.61 per cent in September.
The contraction is ebbing with gradual normalisation in activities and expected to be short-lived.
The RBI also said that the NSO estimates for the second quarter expected at the end of November 2020 will formally bear out the extent of improvement that occurred in the quarter gone by.
