THE INDIAN ECONOMY grew by 7% in financial year 2022-23 (FY23) and 8.2% in FY24, making it the fastest-growing large economy in a challenging global economic environment. Besides the current strengths, there are clear signs of important structural changes underway, all pointing to the likelihood of India becoming a developed nation by 2047.
Macroeconomic parameters are stable. There is clarity, consistency, and focus on long-term economic growth in the government’s policymaking. The government has also been fiscally prudent. Even when the economic impact of Covid-19 was felt acutely, the government stayed away from the temptation of a large-scale fiscal stimulus. Instead, it focussed on directing credit to boost capital spending. The fiscal deficit has declined to 5.6% in FY24, with the possibility of reaching 3% by FY28. Foreign exchange reserves of nearly $700 billion provide a cushion against external shocks.
Denne historien er fra September 15, 2024-utgaven av Business Today India.
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Denne historien er fra September 15, 2024-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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"IF ANYONE WANTS TO INVEST, COME TO HYDERABAD"
Telangana CM Revanth Reddy's global ambitions, AI, green energy, and how Hyderabad is positioning itself as a premier business and innovation hub
Where Food Meets Magic
THE FOOD AT THE ROCA BROTHERS' RESTAURANT IN GIRONA TRANSCENDS THE ORDINARY TO BECOME PURE MAGIC
"INDIA SHOULD CONSIDER LAND POOLING MODEL"
Andhra Pradesh (AP) minister Nara Lokesh talks about what governments can learn from the state about overcoming the land availability challenge
Breaking Barriers: The Extraordinary Journey of Pulkit Prakash
In an era where success often seems predetermined by privilege, Pulkit Prakash's journey from modest beginnings to legal eminence challenges conventional narratives. His remarkable transformation into the founding partner of Niti Bodh, a prestigious law firm, demonstrates how unwavering determination can reshape destinies.
"Keep the company's imperatives in mind first"
Westlife Foodworld Limited is a fast food restaurant holding company
Beyond the Scalpel: How Dr. Unmesh Takalkar Revolutionized Healthcare in Central Maharashtra
In an era where medical excellence often leads to overseas opportunities, one doctor chose a different path - transforming his homeland's healthcare landscape instead of seeking personal fortune abroad. Dr. Unmesh Vidyadhar Takalkar's journey from a bright medical student to a pioneering healthcare visionary in Marathwada stands as a testament to the power of purpose-driven leadership.
"Fils WILL MAKE A COMEBACK, MAYBE THIS YEAR"
Veteran investor Madhusudan Kela, Founder of MK Ventures, on Union Budget 2025-26, the future trajectory of the market, the Indian economy and more
"TAX CUT TO PUT MONEY INTO PEOPLES' HANDS"
Tuhin Kanta Pandey, Finance and Revenue Secretary, and Arunish Chawla, Secretary of DIPAM, explain the macro philosophy of the Budget
A BONANZA FOR THE MIDDLE CLASS
THE GOVERNMENT INCREASED THE TAX EXEMPTION LIMIT TO 12 LAKH AND REVISED RATES LOWER UNDER THE NEW TAX REGIME IN THE BUDGET FOR FY26. WITH A NEW INCOME TAX BILL ON THE WAY, WHAT DO THE MEASURES MEAN FOR TAXPAYERS?
Expect Private Investment Cycle To Pick Up
The government's budgetary strategy focusses on modification and moderation, a fine balance between the long term and the short term
