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Turning jobseekers into job-givers key goal of Government: V Anantha Nageswaran Chief Economic (CEA) Adviser V Anantha Nageswaran has said that turning jobseekers into job-givers is an important goal of the government and many steps have been taken in recent years to achieve this objective.  He stated 'It relieves pressure on the job market. In terms of financing, the credit guarantee scheme that was launched during Covid, and continued until this year, has done a wonderful job in ensuring that the MSME space remains vibrant.' Citing a study, he said the ...
Turning jobseekers into job-givers key goal of Government: V Anantha Nageswaran
Turning jobseekers into job-givers key goal of Government: V Anantha Nageswaran
Source: Reuters
14/07/2023 9:55:27 AM
Target of narrowing fiscal deficit to 4.5% in 2025-26 will be achieved: CEA V Anantha Nageswaran Expressing optimism over India’s economy, Chief Economic Advisor (CEA) V Anantha Nageswaran has said that the average capital investment in many sectors is growing at more than 20 per cent, and there are multiple indicators pointing to a momentum in the economy. Also, he exuded confidence that the finance ministry's target of narrowing the fiscal deficit to 5.9 in the current financial year and to 4.5 percent in 2025-26 would be achieved. He said that last year many sectors saw aver...
Target of narrowing fiscal deficit to 4.5% in 2025-26 will be achieved: CEA V Anantha Nageswaran
Target of narrowing fiscal deficit to 4.5% in 2025-26 will be achieved: CEA V Anantha Nageswaran
Source: Accord Fintech
16/06/2023 9:50:04 AM
GDP forecast of 6.5% for current fiscal looks possible, says government With the growth rate for 2022-23 estimated to be 7.2 per cent, the government on Wednesday said that the risks to the GDP forecast of 6.5 per cent for the current fiscal (2023-24) are now evenly balanced than a few months ago. "We are now prepared to say that risks to our GDP growth forecast of 6.5 per cent for 2023-24 are now more evenly balanced than a few months ago when downside risks to the forecast were greater," Chief Economic Adviser (CEA) V. Anantha Nageswaran told repor...
GDP forecast of 6.5% for current fiscal looks possible, says government
GDP forecast of 6.5% for current fiscal looks possible, says government
Source: IANS
1/06/2023 9:24:36 AM
Implementation of certain regulations by regulators could perpetuate existing market dominance: CEA Chief Economic Advisor (CEA) V Anantha Nageswaran has said that implementation of certain regulations by regulators could perpetuate existing market dominance as he cited the data and privacy norms in the technology space. He emphasised that while competition drives innovation, there is also a distinction between competition and free markets. He pointed out that competition agencies must be mindful of the unintended consequences of their actions. CEA said in the technology space, regulator...
Implementation of certain regulations by regulators could perpetuate existing market dominance: CEA
Implementation of certain regulations by regulators could perpetuate existing market dominance: CEA
Source: Accord Fintech
6/03/2023 11:40:05 AM
Q3 performance of manufacturing, private consumption appearing `depressed` due to higher base: CEA A day after October-December quarter gross domestic product (GDP) growth estimates came in lower than market expectations, Chief Economic Advisor (CEA) V Anantha Nageswaran has said the performance of the manufacturing sector and growth rate in private consumption expenditure in the December quarter of 2022-23 is appearing ‘depressed’ because of higher base. According to Nageswaran, the GDP growth base was inflated due to data revision for the past three years. The National Sta...
Q3 performance of manufacturing, private consumption appearing `depressed` due to higher base: CEA
Q3 performance of manufacturing, private consumption appearing `depressed` due to higher base: CEA
Source: Accord Fintech
2/03/2023 10:27:36 AM
Indian economy will be $3 trillion by end of FY23: CEA Chief Economic Advisor (CEA) V Anantha Nageswaran has said that the Indian economy will be $3 trillion by the end of the current 2022-23 fiscal and is expected to be $7 trillion in the next seven years. He also said that the calendar year 2023 began in the context of the continuing conflict between Russia and Ukraine, which will create geo-political and geo-economic uncertainties.  Nageswaran said the other major aspect is the opening up of China after two years of the pandemic and it...
Indian economy will be $3 trillion by end of FY23: CEA
Indian economy will be $3 trillion by end of FY23: CEA
Source: Accord Fintech
10/01/2023 11:07:22 AM
Power deficit falls to 0.1% in October 2022: R K Singh Power Minister R K Singh has said that power deficit or gap between electricity required and supplied has fallen from 2 per cent to 0.1 per cent between April and October, 2022, primarily on account of various steps taken by the government. The data showed that the deficit was 2,752 million units (units) in April this year which came down to 124 MU in October, 2022. The power deficit was 609 MU (0.4 per cent) in May, 796 MU (0.6 per cent) in June, 434 MU (0.3 per cent) in July, 465 MU (0.4 pe...
Power deficit falls to 0.1% in October 2022: R K Singh
Power deficit falls to 0.1% in October 2022: R K Singh
Source: Accord Fintech
9/12/2022 11:12:09 AM
September quarter GDP numbers in line with expectations, says Chief Economic Advisor : V. Anantha Nageswaran Even as the September quarter GDP growth halved to 6.3 per cent compared to 13.5 per cent growth seen in June quarter, Chief Economic Advisor V. Anantha Nageswaran on Wednesday said that the growth is in line with expectations. Nageswaran said that at this rate of economic recovery, the current fiscal growth is expected to be in the range of 6.8 per cent to 7 per cent. Commenting on price rise, the CEA said that retail inflation may have peaked and is likely to ease in the coming months...
September quarter GDP numbers in line with expectations, says Chief Economic Advisor : V. Anantha Nageswaran
September quarter GDP numbers in line with expectations, says Chief Economic Advisor : V. Anantha Nageswaran
Source: IANS
1/12/2022 11:17:01 AM
Indian economy expected to maintain growth above 6.5% in coming years: V Anantha Nageswaran Chief Economic Advisor (CEA) V Anantha Nageswaran has expressed hope that the Indian economy will maintain the trend growth rate of 6.5 per cent and above for the rest of the years in the current decade. He said the economy will close the current fiscal logging in a growth of 6.5-7 per cent, citing the projections of private sector analysts, Reserve Bank of India (RBI) and international agencies like OECD and the IMF. He mentioned ‘This appears to be reasonable at this point in time ...
Indian economy expected to maintain growth above 6.5% in coming years: V Anantha Nageswaran
Indian economy expected to maintain growth above 6.5% in coming years: V Anantha Nageswaran
Source: Accord Fintech
25/11/2022 11:47:38 AM
Govt approves India’s first sovereign green bonds framework Giving a strong signal of the country's commitment to a low-carbon economy, Union Minister for Finance & Corporate Affairs Nirmala Sitharaman has approved the final Sovereign Green Bonds framework of India. This approval will further strengthen India’s commitment towards its Nationally Determined Contribution (NDCs) targets, adopted under the Paris Agreement, and help in attracting global and domestic investments in eligible green projects. The proceeds generated from issuance o...
Govt approves India’s first sovereign green bonds framework
Govt approves India’s first sovereign green bonds framework
Source: Accord Fintech
10/11/2022 9:32:29 AM
India likely to clock better growth than IMF`s projections next year: Chief Economic Adviser V. Anantha Nageswaran Expressing optimism over India’s economic situation, Chief Economic Adviser (CEA) V. Anantha Nageswaran has said that the country is likely to clock better growth than International Monetary Fund’s (IMF) projections next year supported by enhanced capital formation. Recently, the IMF projected 6.8% real growth for this year and 6.1% for next year for India. He said ‘I think in fact, the growth rates for the coming years may be slightly more, slightly better than what thes...
India likely to clock better growth than IMF`s projections next year: Chief Economic Adviser V. Anantha Nageswaran
India likely to clock better growth than IMF`s projections next year: Chief Economic Adviser V. Anantha Nageswaran
Source: Accord Fintech
1/11/2022 10:42:05 AM
Indian economy on path to recovery: CEA Chief Economic Advisor (CEA) V Anantha Nageswaran has said the Indian economy is on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Nageswaran said all sectors of the economy such as agriculture, manufacturing and construction are doing well. He mentioned ‘The Indian economy is showing resilience and on the path to recovery. Private demand and the services sector are doing better than expected.’ He added private ...
Indian economy on path to recovery: CEA
Indian economy on path to recovery: CEA
Source: Accord Fintech
27/09/2022 10:31:58 AM
Indian economy to grow at over 7% in FY23: Chief Economic Advisor Expressing some cautiousness over India’s economic growth, Chief Economic Advisor (CEA) V Anantha Nageswaran has said Indian economy will grow at over 7 per cent in the current fiscal year (FY23), down from above 8 per cent of growth rate projected in January.  However, he said that the economic momentum and the animal spirits are ‘unmistakable’. He said the world is still undergoing the aftereffects of Covid pandemic and the ongoing war in Europe triggered by Russia...
Indian economy to grow at over 7% in FY23: Chief Economic Advisor
Indian economy to grow at over 7% in FY23: Chief Economic Advisor
Source: Accord Fintech
21/09/2022 12:20:56 PM
India not defending rupee, currency can take care of itself : V Anantha Nageswaran Chief Economic Advisor (CEA) V Anantha Nageswaran has said India is not defending the rupee and the Reserve Bank of India (RBI) is taking necessary steps to ensure that the movement of the rupee is gradual and in line with market trends. Further, he said that the rupee is being managed in a manner that reflects the fundamentals of the economy. He mentioned ‘India is not defending the rupee… I don’t think Indian fundamentals are such that we need to defend the rupee. The ...
India not defending rupee, currency can take care of itself : V Anantha Nageswaran
India not defending rupee, currency can take care of itself : V Anantha Nageswaran
Source: Accord Fintech
14/09/2022 12:57:48 PM
Ex-CEA K. Subramanian to be India's Executive Director at IMF Former Chief Economic Adviser (CEA) Krishnamurthy Subramanian will be the Executive Director for India at the International Monetary Fund (IMF) from November onwards. The Appointments Committee of Cabinet (ACC), in an order issued on Thursday, said that Subramanian will have a three year tenure or until further orders, beginning November 1. Subramanian, who is currently a Professor at the Indian School of Business, was the Chief Economic Adviser between 2018 and 2021. The order furth...
Ex-CEA K. Subramanian to be India's Executive Director at IMF
Ex-CEA K. Subramanian to be India's Executive Director at IMF
Source: IANS
26/08/2022 9:12:58 AM
Government committed to ensure capex continues to support economic growth momentum: CEA Chief Economic Advisor (CEA) V Anantha Nageswaran has said that the government is committed to ensuring that capital expenditure (Capex) will continue to support the economic growth momentum regained after the third COVID-19 wave. The government has taken various steps -- including lowering taxes, the continuation of privatization, setting up institutions for sequestering bad loans and managing them, and launching an asset monetization drive -- to strengthen the real economy. CEA said &lsq...
Government committed to ensure capex continues to support economic growth momentum: CEA
Government committed to ensure capex continues to support economic growth momentum: CEA
Source: Accord Fintech
20/06/2022 11:14:54 AM
India to become $5 trillion economy by 2026-27, $10 trillion by 2033-34: CEA Anantha Nageswaran Expressing optimism over India’s economy, Chief Economic Adviser (CEA) V Anantha Nageswaran has said the country would become a $5 trillion economy by 2026-27 and $10 trillion by 2033-34. He said India is relatively better placed than other emerging economies. He added ‘on the face of it, looks optimistic, even ambitious, but if we get to $5 trillion by 2026-27’. He said ‘we are now $3.3 trillion, it is not such a difficult target to reach. Then if you simply assume...
India to become $5 trillion economy by 2026-27, $10 trillion by 2033-34: CEA Anantha Nageswaran
India to become $5 trillion economy by 2026-27, $10 trillion by 2033-34: CEA Anantha Nageswaran
Source: Accord Fintech
15/06/2022 9:38:57 AM
India shows exemplary resilience in recovery from COVID-19 crisis: CEA Chief Economic Advisor (CEA) Anantha Nageswaran said India has shown exemplary resilience in recovery from the COVID-19 pandemic crisis. He added all major activities and parameters of the economy have crossed their pre-COVID levels, and it is now enjoying macroeconomic tailwinds. Nageswaran said quick and precise steps have been taken by the government at the policy level, which was supported by the Reserve Bank of India’s timely interventions. He said compared to developing and dev...
India shows exemplary resilience in recovery from COVID-19 crisis: CEA
India shows exemplary resilience in recovery from COVID-19 crisis: CEA
Source: Accord Fintech
13/06/2022 9:29:21 AM
Cryptocurrencies yet to pass test to become fiat currency: CEA V Anantha Nageswaran Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran has said that the cryptocurrencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them. He further said that unlike fiat money, cryptocurrencies cannot satisfy basic requirements such as having store value, widespread acceptability, and unit of account. Referring to decentralized finance (Defi), he said ‘in my opinion, while it is considered innovation, I ...
Cryptocurrencies yet to pass test to become fiat currency: CEA V Anantha Nageswaran
Cryptocurrencies yet to pass test to become fiat currency: CEA V Anantha Nageswaran
Source: Accord Fintech
10/06/2022 1:48:00 PM
GST, IBC to help boost India's growth once cloud of pandemic, geopolitical conflict recedes: CEA Chief Economic Advisor (CEA) Anantha Nageswaran has said that the impact of structural reforms, like Goods and Services Tax (GST) and Insolvency and Bankruptcy Code (IBC), will help boost India's growth once the cloud of the pandemic and geopolitical conflict recedes. He said India is right now in a situation where the economy faces a considerable amount of challenges both from global macro monetary policies and political developments.  CEA said ‘I also implore you to look b...
GST, IBC to help boost India's growth once cloud of pandemic, geopolitical conflict recedes: CEA
GST, IBC to help boost India's growth once cloud of pandemic, geopolitical conflict recedes: CEA
Source: Accord Fintech
9/06/2022 11:15:44 AM
Risk of stagflation in India quite low compared to other countries: V Anantha Nageswaran Chief Economic Adviser (CEA) V Anantha Nageswaran has ruled out the risk of stagflation for India, saying the economy is better placed than other nations. Stagflation is the phase when an economy faces moderation in GDP growth as well as high inflation. He stated that ‘Compared to the experience of many developed and developing countries, India is somewhat better placed and more importantly both central bank and the government are seized of the problem under addressing them. I would at ...
Risk of stagflation in India quite low compared to other countries: V Anantha Nageswaran
Risk of stagflation in India quite low compared to other countries: V Anantha Nageswaran
Source: Accord Fintech
1/06/2022 9:50:07 AM
India better placed to face global uncertainties caused by ongoing Russia-Ukraine war: CEA Chief Economic Adviser (CEA) V Anantha Nageswaran has said that amid global uncertainties caused by the ongoing Russia-Ukraine war, India is still better placed among the large economies because of an improved financial system and a robust corporate health. He said India has already taken a host of reforms in banking and other sectors and is now focussing on stepping up public investment. Besides, he said, Indian corporates are in good financial health as they have trimmed their balance sheet...
India better placed to face global uncertainties caused by ongoing Russia-Ukraine war: CEA
India better placed to face global uncertainties caused by ongoing Russia-Ukraine war: CEA
Source: Accord Fintech
19/05/2022 12:51:41 PM
India's growth expected to be in range of 7-8.5% given global uncertainties: CEA Chief Economic Adviser (CEA) V Anantha Nageswaran has said India's growth is expected to be in the range of 7-8.5 per cent given the global uncertainties. Nageswaran stated ‘the range of outcomes is fairly wide. Wider than it could ever be and that makes decision making all the more hazardous. Lots of luck is needed to get it right.’ As per the Economic Survey, India's economy is expected to grow by 8-8.5 per cent in the fiscal beginning April 1. The CEA said he had a c...
India's growth expected to be in range of 7-8.5% given global uncertainties: CEA
India's growth expected to be in range of 7-8.5% given global uncertainties: CEA
Source: Accord Fintech
5/05/2022 11:12:15 AM
Solar Energy corporation issues tender for setting up 1000 MWH storage system Solar Energy Corporation of India Limited (SECI) has issued a tender for setting up 500 MW/1000 MWh Standalone Battery Energy Storage Systems (BESS) to provide Discoms with storage facilities to be used on an "on-demand" basis. The tender marks the first tranche of the Government's immediate target of setting up 4000 MWh of Battery Storage Capacity as part of achieving increased penetration of RE in the national grid. Central Electricity Authority (CEA)/MoP has prepared a Rep...
Solar Energy corporation issues tender for setting up 1000 MWH storage system
Solar Energy corporation issues tender for setting up 1000 MWH storage system
Source: IANS
17/04/2022 4:25:03 PM
Private sector expected to accelerate capital expenditure from H2FY23: CEA Chief Economic Adviser (CEA) V Anantha Nageswaran has stated that the economic situation is likely to improve in the current financial year. Nageswaran expressed hope that the private sector is expected to accelerate capital expenditure from the second half of the current fiscal (H2FY23). The investment from private sector has been muted for past many years despite several measures, including corporate tax cut, taken by the government to reinvigorate it. He mentioned ‘Bank credit is ...
Private sector expected to accelerate capital expenditure from H2FY23: CEA
Private sector expected to accelerate capital expenditure from H2FY23: CEA
Source: Accord Fintech
13/04/2022 10:05:55 AM
India expected to become $5 tn economy by FY26 or FY27: CEA India is expected to become a $5 trillion economy by FY26 or FY27 if the 8 per cent GDP growth rate is retained, Chief Economic Advisor, V. Anantha Nageswaran, said on Tuesday. In the post-Budget press conference held here, Nageswaran said while replying to a question: "If we continue to retain the path of 8 per cent of real GDP growth and if we extrapolate it, we should be a $5 trillion economy in terms of nominal GDP in the Financial Year 2025-26 or 2026-27." Before the conf...
India expected to become $5 tn economy by FY26 or FY27: CEA
India expected to become $5 tn economy by FY26 or FY27: CEA
Source: IANS
2/02/2022 10:01:03 AM
Indian economy likely to register growth of 9.5% in FY22: Former CEA Arvind Virmani Former chief economic adviser (CEA) Arvind Virmani has said the Indian economy may register a growth of 9.5 per cent in this financial year (FY22). He stated that government expenditure and exports have peaked, but so far private consumption has not recovered due to the COVID-19 pandemic. He mentioned the current financial year's growth will be higher and close to 9.5 per cent. And this decade's (FY21-FY30) average growth will be 7.5 per cent plus minus 0.5 per cent. He said that I...
Indian economy likely to register growth of 9.5% in FY22: Former CEA Arvind Virmani
Indian economy likely to register growth of 9.5% in FY22: Former CEA Arvind Virmani
Source: Accord Fintech
12/01/2022 10:58:57 AM