Change course
Financial Express Ahmedabad|December 12, 2024
The economy's capacity is constrained, Budget must unveil consumption booster and more

India's economic growth capacity seems to have settled around 6-6.5%, a far cry from over the 8% annual expansion required for it to meet the $35 trillion economy target by 2047, the 100th year of Independence. To become a “developed nation” with per capita income (PCI) above $13,000 by 2047, the PCI must grow at a daunting rate of over 11% a year. To be sure, between the second quarters of FY20 and FY25, the gross domestic product (GDP) grew by an annual average of just 4.87%, and between the first quarters of those years, at an even lower rate of 4.59%. The 8.2% GDP growth reported in FY24 was more a statistical bump caused by the pandemic abyss than being reflective of an economic resurgence. Nothing less than a policy overhaul will suffice for the economy to regain its lost growth capacity and avoid a middle-income trap that looks increasingly real.

هذه القصة مأخوذة من طبعة December 12, 2024 من Financial Express Ahmedabad.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 12, 2024 من Financial Express Ahmedabad.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من FINANCIAL EXPRESS AHMEDABAD مشاهدة الكل
Govt seeks Parliament nod for ₹44,143-crore extra spending
Financial Express Ahmedabad

Govt seeks Parliament nod for ₹44,143-crore extra spending

THE CENTRE ON Thursday sought Parliament approval for net additional expenditure of ₹44,143 crore for the current fiscal, out of gross additional spending of ₹87,763 crore in the first batch of supplementary demand for grants.

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1 min  |
December 13, 2024
Financial Express Ahmedabad

Govt releases standards for green steel; product may get priority in public procurement

Govt releases standards for green steel; product may get priority in public procurement

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2 mins  |
December 13, 2024
Financial Express Ahmedabad

HDFC Bank's investment banking gets Sebi warning

MARKETS REGULATOR SECURITIES and Exchange Board of India (Sebi) has issued an administrative warning letter to HDFC Bank alleging non-compliance of some provisions related to its investment banking operations.

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1 min  |
December 13, 2024
EY case puts spotlight on white-collar labour laws
Financial Express Ahmedabad

EY case puts spotlight on white-collar labour laws

● Decades-old laws largely focused on blue-collar workers

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1 min  |
December 12, 2024
Financial Express Ahmedabad

Pushpa 2 hits ₹1,000-crore milestone at global BO

ALLU ARJUN'S PUSHPA 2: The Rule has hit the milestone of ₹1,000 crore at the global box office in just six days, making it the fastest Indian film to register the feat.

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1 min  |
December 12, 2024
Why international stars are pulling out of Hockey India League en masse
Financial Express Ahmedabad

Why international stars are pulling out of Hockey India League en masse

IN OCTOBER, WHEN the Hockey India League (HIL) player auctions were held, 96 international stars were snapped up by eight men and four women franchises. Now, with a fortnight left for the competition to begin, more than one-fourth of them have pulled out.

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2 mins  |
December 12, 2024
Financial Express Ahmedabad

US hotels welcome Indian tourists with chai, samosa

POST-COVID BOOM

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1 min  |
December 12, 2024
Financial Express Ahmedabad

Rupee gains 2p to settle at 84.83

THE RUPEE GAINED 2 paise to close at 84.83 against the US dollar on Wednesday, a tad above its all-time low level, amid rising expectations of a shift in the Reserve Bank's monetary policy stance following the appointment of Sanjay Malhotra as the new governor.

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1 min  |
December 12, 2024
Financial Express Ahmedabad

Credit card issuance slows in Q1: Report

THE ISSUANCE OF new credit cards in the first quarter of FY25 declined by over 34% compared to the same period last fiscal—to 4.4 million from 6.7 million—according to the latest CreditScape report by CRIF High Mark.

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1 min  |
December 12, 2024
Financial Express Ahmedabad

Equirus Wealth crosses ₹10K cr in assets under management

WEALTH MANAGEMENT FIRM

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1 min  |
December 12, 2024