Economy

RBI’s Strategic Gold Accumulation

In November 2024, the Reserve Bank of India (RBI) added 8 tonnes of gold to its reserves, bringing the total for the year to 73 tonnes and elevating India's gold holdings to 876 tonnes. This positions India as the second-largest...

India is set to update the base year for calculating its Gross Domestic Product (GDP) from 2011-12 to 2022-23

In a significant move to enhance the accuracy of economic assessments, the Government of India has announced plans to update the base year for calculating Gross Domestic Product (GDP) from 2011-12 to 2022-23. This revision, the first in over a...

Nomura Lowers India’s FY25 GDP Growth Forecast to 6.7%

Nomura has adjusted its forecast for India's fiscal year 2025 GDP growth to 6.7%, down from the previous estimate of 6.9%. This revision follows official data indicating a slowdown in the April-June quarter, where GDP growth was 6.7%, below expectations...

Government Forms Committee to Update WPI Base Year

On January 2, 2025, the Government of India established an 18-member committee to revise the base year of the Wholesale Price Index (WPI) from 2011-12 to 2022-23. This initiative aims to enhance the accuracy of factory-gate inflation measures, reflecting structural...

RBI Reports 98.12% of ₹2,000 Notes Returned

As of December 31, 2024, the Reserve Bank of India (RBI) announced that 98.12% of the ₹2,000 denomination banknotes have been returned to the banking system, with ₹6,691 crore still held by the public. Background On May 19, 2023, the...

India’s Coffee Exports Surge to Record High in FY24

India's coffee exports have reached a remarkable milestone, achieving a record $1.14 billion between April and November of FY24, marking a 29% increase from the same period last year. The growth has been fueled by rising global demand for Robusta...

India Achieves 36% Reduction in GDP Emission Intensity from 2005 to 2020

India has made significant strides in decoupling economic growth from greenhouse gas emissions, achieving a 36% reduction in GDP emission intensity between 2005 and 2020. This progress aligns with the nation's climate action targets under the Paris Agreement. Key Highlights...

GST Growth Slows to 7.3% in December

India’s GST collection growth slowed to 7.3% YoY in December 2024, with gross revenue standing at ₹1.77 lakh crore, compared to ₹1.65 lakh crore in December 2023. This marks the slowest growth in three months and highlights a slight decline...

GDP to Grow at 6.6% in FY25: RBI

The Reserve Bank of India (RBI), in its December 2024 Financial Stability Report (FSR), projected India’s GDP growth at 6.6% for FY25, driven by a revival in rural consumption, increased government spending, and strong services exports. Despite a moderation in...

Deloitte Projects Indian Economy to Grow at 6.5-6.8% in FY25

The Indian economy is projected to grow at 6.5-6.8% in FY2025, driven by domestic consumption, infrastructure development, and digitisation, according to Deloitte India. Growth is expected to rise further to 6.7-7.3% in FY2026. However, challenges such as geopolitical tensions, trade...