Under PM Modi's leadership, India is expected to have the strongest growth among major economies, with a forecast of 7.0% in 2024 and 6.5% in 2025. India, along with Brazil, is highlighted as a key emerging market showing strong growth according to the IMF. In contrast, China’s growth is slowing, projected at 4.8% for 2024 and 4.5% for 2025. Global growth is expected to stay at 3.2% for both years, lower than before the pandemic. The US economy, driven by strong consumer spending, may boost Indian exports. However, conflicts in the Middle East and Ukraine could lead to higher oil prices, impacting India’s economy. Additionally, tight monetary policies in major economies like the US and Europe could also challenge India's economic outlook.
23 October,2024 02:50 PM IST
The last date of ITR filing 2024 is 31st July which is close. In all, there are 7 types of ITR forms that need to be filed according to the respective eligibility criteria. Filing the wrong form can lead to defective filing making your submission invalid. If you need clarification about what ITR form to file, worry not! In this episode of Money Matters, CA Nitesh Buddhadev explains ITR 1, 2, 3 and 4. Whether you're a salaried employee, a freelancer, or a business owner, this video will provide the clarity you need to choose the right ITR form and file your taxes with confidence.
24 July,2024 01:16 PM IST
The Union Budget 2024 presentation is just days away. As Finance Minister Nirmala Sitharaman prepares to reveal the new fiscal plans, the developers and buyers from the real estate industry are filled with anticipation and hope for favourable policies and reforms. Will the Real Estate sector get Industry status? Can the GST rate cut of the construction material come as a surprise for the Real Estate developers? Will the home buyers get relief from the increase in the deduction limit for home loan interest rates? Will the budget incentivise new home buyers through reduced stamp duty? In this episode of Money Matters, Punit Agarwal, Co-Founder and CEO - Nirvana Realty in conversation with Mid-day’s Katyayani Kapoor discusses what the Real estate expects from the upcoming Budget on July 23rd.
18 July,2024 07:30 PM IST
The Union Budget 2024 is just days away from being presented in the Parliament. Finance Minister Nirmala Sitharaman will be presenting it on July 23, 2024. The session is set to run from July 22 to August 12. It is notable as it will be the first budget of Prime Minister Narendra Modi's third term and is expected to outline major economic priorities and policies for the next five years with a vision of “Viksit Bharat” by 2047. Notably, the finance minister held pre-budget consultations with industry stakeholders from June 20. In her address, Finance Minister Nirmala Sitharaman to a joint sitting of Parliament, said that major social and economic decisions will be a highlight. What can we expect? Watch the video to know more in this episode of What’s Next.
16 July,2024 07:22 PM IST
The Union Budget 2024 is expected to be announced on 23rd July this month. Finance Minister Nirmala Sitharaman will be presenting it in the parliament which is going to be impacting several industries and the Indian economy at a whole going forward. But only a few know that the preparation process is a culmination of various complex processes that involve immense consultations and discussions. From the Estimation, Pre-budget meetings, Consultation, the Halwa ceremony to the Presentation, Discussion and the President’s approval, in this video, we explore what goes into preparation and the passing of the Budget in India. Watch this video to get a peek into the process.
13 July,2024 07:00 PM IST
Indian elections were talked about a lot by the foreign media. Foreign country’s close scrutiny were on the Indian elections, but why did the world have such a keen eye on the Indian elections? How India’s image has transformed in recent years on the Global stage? Is India getting powerful on the world stage? Geopolitical analyst Vasu Sharma in conversation with Katyayani Kapoor speaks on India’s changing dynamics in the world and more in this episode of Straight Talk.
28 June,2024 07:00 PM IST
India’s Gross Domestic Product (GDP) surpassed all expectations and stood at 7.8 percent in the January-March quarter. The full-year 2023-24 GDP has been revised upwards to 8.2 percent from the second advance estimate of 7.6 percent, according to data released on May 31 by the Ministry of Statistics and Programme Implementation. This surge marks an improvement from the 7.0 percent growth recorded in the preceding fiscal year, showcasing the resilience and strength of the Indian economy amidst evolving global dynamics. According to the press release, the sector-wise analysis further illuminates the economic landscape, with real gross value added (GVA) experiencing a growth rate of 7.2 percent in 2023-24, compared to the 6.7 percent growth observed in 2022-23. The manufacturing sector has emerged as a key driver of this growth, witnessing a surge of 9.9 percent in 2023-24, a stark contrast to -2.2 percent growth registered in the previous year. In addition to the annual estimates, the release also provided Quarterly Estimates of GDP for the Fourth quarter (January-March) of 2023-24, offering insights into the economy's performance in the final quarter of the fiscal year. In Q4, both Real GVA and Real GDP showcased robust growth, with rates reaching 6.3 percent and 7.8 percent, respectively. These figures underscore the economy's resilience and steady momentum amidst global uncertainties and challenges.
01 June,2024 04:52 PM IST
International Monetary Fund Asia & Pacific Director Krishna Srinivasan on April 20 praised India’s growth trajectory under Prime Minister Narendra Modi’s regime. Speaking to ANI, he said, “India has successfully navigated multiple shocks we’ve seen in the recent past, starting from the pandemic to the war in Ukraine and then the recent tensions in the Gulf. Growth at 6.8 per cent in 2024-25 is a very impressive number. And this is largely led by private consumption and public investment. I don’t see any red flags in the near term, but I would highlight one important aspect. Now, India has a young, growing population. India is likely to add about 15 million people to the labor force every year. Now, if you want to benefit from this demographic change, you will need lots of reforms. I think in particular, I would emphasize the need for significant investment in education and healthcare so that this growing labor force can contribute productively to the economy.”
20 April,2024 04:17 PM IST
The Supreme Court praised the growing Indian economy as robust and recognised in the world. The Supreme Court’s observation came while hearing the suit filed by Kerala Government against Centre. The Kerala Govt accused the Centre of not allowing it to borrow more money to meet its needs. Justices Surya Kant, KV Vishwanathan were hearing Kerala Govt’s plea raising the grave financial crisis. The Supreme Court remarked that India's economy is robust and is recognised in the entire world. Notably, India is currently the fifth largest economy of the world and visions to become the third largest soon. PM Modi has exuded confidence in returning to power and making the nation third-largest economy. External Affairs Minister also recently said that the country will soon move to grab the third position.
08 March,2024 06:10 PM IST
Interim Budget 2024 was presented today by Union Finance Minister Nirmala Sitharaman for the year 2024-25. Her budget speech lasted 56 minutes, her shortest ever. While BJP leaders lauded the budget for its host of measures focusing on realising the resolve of a developed India, the opposition termed it hollow. Indian stock indices took a rollercoaster ride and settled marginally in the red, the day the central government presented its interim Budget for 2024-25. But what were the key highlights from the budget and how does it impact the economy? From Taxation, Agriculture, Energy to Tourism and Infrastructure, here are key budget highlights that you need to know.Also Read: Budget 2024 evokes mixed reactions from hospitality, healthcare and AI sectors
07 February,2024 02:27 PM ISTADVERTISEMENT
