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 Indian economy continues to show strong resilience to external shocks," said Auguste Tano Kouame, World Bank's Country Director in India.
He encouraged students to take inspiration from Rabindranath Tagore
The Economic Survey seems to have deliberately ignored adverse facts. While talking about robustness of the IT sector, no mention is made of the unprecedented global slowdown that has seen revenue losses and record lay-offs in global market leaders like Netflix, Meta, Amazon, Microsoft, Alphabet, and Apple which are directly affecting the Indian IT Sector, bringing the NIFTY IT down 11.4 per cent y-o-y, and leading to approximately 25,000 lay-offs
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.
