Economy

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...

Current Account Deficit Eases in Q2, Likely to Double in Q3

India’s current account deficit (CAD) for Q2 FY2024-25 moderated to $11.2 billion (1.2% of GDP) from $11.3 billion (1.3% of GDP) a year ago, as per RBI’s balance of payments (BoP) data. The moderation, despite a higher merchandise trade deficit,...

India’s Economic Growth Forecast for FY25: 6.5%

India’s economic growth is expected to reach 6.5% in FY25 despite facing a subdued first half, as outlined in the Finance Ministry's Monthly Economic Review. The report attributes the slowdown primarily to the Reserve Bank of India's (RBI) restrictive monetary...

RBI Sets Up Panel for Ethical AI Framework in Financial Sector

The Reserve Bank of India (RBI) has constituted an eight-member committee to develop the Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector. Announced during the RBI’s December monetary policy meeting, this initiative focuses on...

ADB to Lend USD $500 Million to India for Sustainable Infrastructure

On December 20, 2024, the Government of India and the Asian Development Bank (ADB) signed a $500 million loan agreement to support sustainable infrastructure projects, aligned with India’s climate goals. The loan, with a sovereign guarantee, will be channeled through...

Govt Infuses ₹500 Cr in IFCI to Boost Financial Health

The Indian government has decided to infuse ₹500 crore into the state-owned Industrial Finance Corporation of India (IFCI) to strengthen its financial health ahead of the company's restructuring. This infusion will likely increase the government's stake in IFCI beyond its...

55th GST Council Meeting: Key Highlights and Proposals

The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, convened ministers from 28 states, two Union Territories, and key stakeholders. The discussions centered on vital tax reforms impacting consumers and businesses across sectors, focusing on luxury items, essential...

India’s FY26 Economic Outlook: Modest Growth Amid Tightening

India's economy is projected to grow at 6.6% in FY26, a marginal increase from the current fiscal's 6.4%, driven primarily by investments. However, India's fiscal and external challenges continue, with a slight easing in monetary conditions expected. India Ratings and...

Net Direct Tax Collection Sees Robust 16.45% Growth to Rs 15.82 Lakh Crore

The net direct tax collections for the fiscal year 2023-24 have surged by 16.45% to Rs 15.82 lakh crore by December 17, driven primarily by a strong 21% rise in advance tax payments. This growth reflects the government's improved tax...