Digitalisation and increased formalisation appear to have pushed India’s potential higher, but there is now hope for growth that is sustainable and inclusive
RBI MPC Meet LIVE News Updates: It is expected that the RBI will maintain its current interest rates unchanged during its upcoming meeting, with the likelihood of an immediate reduction diminishing. This shift comes after the government issued a caution regarding an impending heatwave and the economy demonstrated a quicker growth trajectory than initially anticipated.It is the first bi-monthly monetary policy of 2024-25. A total of six MPC meetings are scheduled for the fiscal year beginning April 1, 2024.According to a recent survey conducted by ET with 14 participants, it is anticipated that the Monetary Policy Committee (MPC) of the central bank will decide to maintain the repo rate at 6.50% during the conclusion of their three-day meeting on April 5. If this prediction holds true, it would signify the seventh consecutive instance where the committee has chosen to keep the repo rate unchanged at its present level.The repo rate, which denotes the rate at which the RBI lends to banks,
The Budget 2024-25 has increased by 6.1%, reaching Rs 47.66 lakh crore due to higher expenditures and increased allocations for capital and social sector schemes. Finance Minister Nirmala Sitharaman stated that total receipts, excluding borrowings, and expenditures are estimated at Rs 30.80 lakh crore and Rs 47.66 lakh crore, respectively.
From 2013 to 2018, Raghuram Rajan “predicted” doom for the global economy at the rough rate of once a year. In 2015, he predicted a 1930s-style Great Depression. None of these came true. Perhaps his luck ran out
This massive increase in India’s GDP would be possible because of manufacturing contributions rising from 17 percent to almost 25 percent paired with exports doubling to more than one trillion dollars, James Sullivan said.