While a massive 4.67 crore additional jobs were created in the Indian economy in the financial year ended March 2024, the fast pace of employment generation has continued into 2024-25 in both the formal and informal sectors, official data shows.
The Indian economy and the domestic financial system are underpinned by strong macroeconomic fundamentals, healthy balance sheets of banks and non-banks with returns on assets at decadal highs, according to the RBI financial stability report released on Monday.
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
Indian economy is to grow at 6.6% in 2025-26, up from 6.4% in the current fiscal year, India Ratings and Research (Ind-Ra) projected on Wednesday.
Even though the Indian Economy slowed down to 5.4 per cent in the second quarter, it will grow in the range of 6.5 to 7 per cent this fiscal, voiced Chief Economic Advisor (CEA) Anantha Nageswaran on Thursday.
The country is expected to become a $4 trillion economy in 2024–2025, which would make it the world's fourth-largest economy.
According to the World Bank, the Indian economy continues to grow at a healthy pace and the country's medium-term outlook remains positive.
India’s economic performance in the April-June quarter, though slightly below expectations, continues to demonstrate the resilience that has positioned it as the world’s fastest-growing major economy. With a GDP growth of 6.7 per cent year-on-year, India outpaced China’s 4.7 per cent growth during the same period.
Prime Minister Narendra Modi on Tuesday released the Big Bang Numbers on the Indian economy as part of his Bi-Weekly Bharat newsletter for the fortnight of July 15-31 on the Namo app.
The Indian economy faces a multifaceted challenge as food prices continue to rise, exerting significant pressure on households and policymakers alike.
