IS THE WORLD'S BEST-PERFORMING ECONOMY LOSING ITS SHINE?
The Business Guardian|September 03, 2024
India, often lauded as the world's fastest-growing major economy, has recently witnessed a slowdown in its GDP growth.
RAKESH K CHITKARA

In March 2024, CNN termed India as the world's fastest-growing major economy. However, India's GDP growth for the quarter ending June 2024 came in at 6.7%, slightly below expectations and 1.5 percentage points lower than the growth rate during the same quarter last year. This dip has raised eyebrows both domestically and internationally. While some may view this as a troubling sign, it's crucial to recognize that this is not an indication of long-term decline but rather a momentary pause in India's otherwise upward trajectory. The current challenges are significant, but they are not insurmountable. A deeper look reveals that India has both the strength and the strategies to bounce back robustly.

DOMESTIC FACTORS IMPACTING GROWTH

Weather Challenges and Agricultural Impact: India's agricultural sector remains a bedrock of the economy, employing a significant portion of the workforce and supporting rural livelihoods. This year, erratic monsoon patterns and an unusually harsh summer have disrupted this sector. Unpredictable weather has led to a decline in agricultural output to 2.7%, affecting rural incomes and stoking inflation, particularly in food prices. These inflationary pressures, in turn, dampen overall consumer demand, slowing down economic activity. Investments in sustainable agricultural practices and improved irrigation systems could mitigate the adverse effects of such climatic irregularities, stabilizing rural incomes and enhancing overall economic resilience.

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The Business Guardian

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The Business Guardian

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Scalene Coffee Research Organization develops COPTERS
The Business Guardian

Scalene Coffee Research Organization develops COPTERS

Scalene Coffee Research Organization, a member of Organisation De Scalene Foundation, a global leader in sustainable technology innovations, announces the launch of COPTERS (Coffee Pulping Water Recovery System) Technology, a groundbreaking water recovery system developed to reduce water wastage in the coffee pulping process drastically by recovering almost 90% of pulped water.

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HealthEdge expands employer presence in India
The Business Guardian

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HIT SIGNS MOU WITH GLOBAL CYBER UNIVERSITY
The Business Guardian

HIT SIGNS MOU WITH GLOBAL CYBER UNIVERSITY

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MANAGEMENT CHANGES BEFORE AIR INDIA-VISTARA MERGER'
The Business Guardian

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A head of the Air India and Vistara merger scheduled on November 12, the Air India Group on Friday announced a number of management changes.

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India will develop complete solar manufacturing ecosystem in 4-5 years
The Business Guardian

India will develop complete solar manufacturing ecosystem in 4-5 years

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The Business Guardian

Same sex marriage not legal in India

LGBTQ COMMUNITY

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The Business Guardian

Sabarimala Temple

On 28 September 2018, a 4:1 majority of the Supreme Court held that barring women of menstruating age from entering the Sabarimala temple was unconstitutional.

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The Business Guardian

WHAT CJI SAID

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