An 8-on-10 Performance
Business World India|17 June 2023
TODAY, INDIA IS THE world's fifth-largest economy by GDP, at $3.34 trillion, up from tenth place in T 2014. It grew at a phenomenal 16 percent in FY23 (18.4 percent in FY22) in nominal terms, belying forecasts that growth would slow down after the pandemic. India remains the only large economy to continue its economic pace. The April 2023 update of the World Economic Outlook predicts India to be the fastest-growing economy in FY24.
Mohandas Pai & Nisha Holla
An 8-on-10 Performance

Increased stability in several macroeconomic variables lends to this positive outlook post-pandemic tax buoyancy continues at the Central level and in many states, growing at more than 20 percent YoY. Average monthly GST collections in FY23 was Rs 1.51 lakh crore. India also continues to strengthen its financial and banking governance. The manufacturing and construction sectors, which have strong feedforward effects into other economic sectors like materials consumption, employment and tax generation, are expanding with multiple population-scale projects. Fiscal deficit targets are also returning to the lower pre-pandemic levels. The nation continues to be a favoured destination for global investment and a significant component of most foreign investors' Asia allocations.

Driving Capex & Inclusive Growth

The Central government continues to drive significant capex, building on quantity and quality, as they have in successive Budgets for nearly a decade. The pace of highway construction has grown almost 300 percent in the last seven years total length has increased from 1,289 km in FY16 to 3,963 km in FY22. Rural road connectivity and coverage are now at 99 percent. A total of 400 high-speed Vande Bharat trains have been commissioned, of which 16 are already operational. Most Indians, especially in the rural areas, had probably not witnessed infrastructural development in their lifetimes before the NDA government's slew of projects.

Denne historien er fra 17 June 2023-utgaven av Business World India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra 17 June 2023-utgaven av Business World India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESS WORLD INDIASe alt
MEMORIES & IMPRESSIONS
BW Businessworld

MEMORIES & IMPRESSIONS

Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.

time-read
3 mins  |
October 19, 2024
The Robotaxi Market
BW Businessworld

The Robotaxi Market

The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.

time-read
1 min  |
October 19, 2024
And the Nobel Prize Goes to AI
BW Businessworld

And the Nobel Prize Goes to AI

The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.

time-read
1 min  |
October 19, 2024
Ola Electrified
BW Businessworld

Ola Electrified

Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.

time-read
1 min  |
October 19, 2024
Sharp Slide in Industrial Output on Eve of Deepavali
BW Businessworld

Sharp Slide in Industrial Output on Eve of Deepavali

India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.

time-read
1 min  |
October 19, 2024
Heralding the Solar Era with Sustainable Electrification
BW Businessworld

Heralding the Solar Era with Sustainable Electrification

RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more

time-read
2 mins  |
October 19, 2024
A WELL-GREASED MACHINE
BW Businessworld

A WELL-GREASED MACHINE

The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar

time-read
4 mins  |
October 19, 2024
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
BW Businessworld

DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH

For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh

time-read
7 mins  |
October 19, 2024
Disruption Ahead: Beyond Organisation Charts and Structures
BW Businessworld

Disruption Ahead: Beyond Organisation Charts and Structures

ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.

time-read
3 mins  |
October 19, 2024
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
BW Businessworld

Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment

We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.

time-read
2 mins  |
October 19, 2024