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India`s GDP growth towers over several economies, says chief economic adviser Even as the GDP growth for the first quarter of current fiscal stood at 7.8 per cent, a sharp fall from the corresponding period of last year, when it was 13.1 per cent, government said on Thursday that India's growth is better than several economies. "India’s quarterly GDP growth towers over that of many other economies.The government and the RBI are comfortable in holding on to their 2023-24 GDP growth forecast of 6.5 per cent," chief economic adviser V Anantha Nagesw...
India`s GDP growth towers over several economies, says chief economic adviser
India`s GDP growth towers over several economies, says chief economic adviser
Source: IANS
1/09/2023 10:02:12 AM
India, US discuss G20 cross-border payments, global debt challenges India and the US have held wide-ranging discussions on cross-border payments issues including G20 payments roadmap, India’s United Payments Interface (UPI) platform, and the Federal Reserve’s implementation of the FedNow payments system. The meeting was held on August 3 between senior Finance Ministry officials led by Chief Economic Adviser V. Anantha Nageswaran and the US Treasury Department representatives in New Delhi, as part of their second sub-ministerial meeting followin...
India, US discuss G20 cross-border payments, global debt challenges
India, US discuss G20 cross-border payments, global debt challenges
Source: IANS
8/08/2023 9:22:59 AM
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA Chief Economic Advisor (CEA) V Anantha Nageswaran has said that India needs to focus on the manufacturing sector to achieve sustained growth of 7-7.5 per cent until 2030. He also said that manufacturing should be a key growth area given the country's comparative advantage in terms of skilled labour, improved physical infrastructure, well-established industrial ecosystem and large domestic market.  As regards the services sector, CEA said the composition should change in favour of ...
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA
Source: Accord Fintech
4/08/2023 11:41:24 AM
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
Economy expected to grow in range of 7.5% in current fiscal Chief Economic Advisor (CEA) V. Anantha Nageswaran on Friday said the economy is expected to grow in a range of 6.5 per cent to 7.5 per cent in the current fiscal, buttressed by a strong growth momentum seen in investments and efficiency gains from rapid pace of digital transformation. He further noted that maintaining economic growth while ensuring sustainability is important, and the government has increased investments on the ground, rather than revenue expenditure. This, he said, is...
Economy expected to grow in range of 7.5% in current fiscal
Economy expected to grow in range of 7.5% in current fiscal
Source: IANS
9/06/2023 5:53:51 PM
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
Signs of private sector investment cycle unfolding: V Anantha Nageswaran Chief Economic Adviser V Anantha Nageswaran has said there are signs of private sector investment cycle unfolding and sectors like steel and cement have reached a stage where greenfield investment will take place. He stated ‘We do see signs of corporate sector beginning to make investment. There are some new investment announcement.’ Based on data available for the first six months of the last three years, has said there are signs of private sector investment cycle unfoldi...
Signs of private sector investment cycle unfolding: V Anantha Nageswaran
Signs of private sector investment cycle unfolding: V Anantha Nageswaran
Source: Accord Fintech
26/05/2023 10:56:58 AM
India`s economy likely to grow at rate of 6.5% in coming decade: CEA V Anantha Nageswaran Chief Economic Advisor (CEA) V Anantha Nageswaran expressed optimism over India’s economic growth and said that the country’s economy is likely to grow at the rate of 6.5 per cent in the coming decade on the back of the turnaround in financial and investment cycle. He further said going forward, global exports growth volumes may be somewhat tepid in terms of their growth rates due to the kind of uncertainties the world is facing. He said ‘So, I think the restoration of the f...
India`s economy likely to grow at rate of 6.5% in coming decade: CEA V Anantha Nageswaran
India`s economy likely to grow at rate of 6.5% in coming decade: CEA V Anantha Nageswaran
Source: Accord Fintech
31/03/2023 9:38:31 AM
Second G20 Framework Working Group meeting concludes in Chennai The two-day Second G20 Framework Working Group meeting concluded here on Saturday with members agreeing on the way forward for important deliverables for the year, including those on macroeconomic consequences of food and energy insecurity and climate changes and transition pathways. The meeting under the Indian G20 Presidency was co-chaired by the Chief Economic Adviser, V. Anantha Nageswaran, and Clare Lombardelli, Chief Economic Adviser, UK Treasury. Around 87 delegates from G20 memb...
Second G20 Framework Working Group meeting concludes in Chennai
Second G20 Framework Working Group meeting concludes in Chennai
Source: IANS
26/03/2023 8:58:37 AM
Global macro-economic issues to be discussed in G20 second Framework Working Group meeting: CEA Chief Economic Advisor V Anantha Nageswaran has said a host of global issues pertaining to inflation, energy security and climate change would be discussed in the G20 second Framework Working Group meeting scheduled to begin on March 24. He highlighted that India along with the United Kingdom would play a 'facilitator role' in discussing the issues with member countries during the two-day summit. He said it will deliberate on how international policy cooperation can be enhanced to ach...
Global macro-economic issues to be discussed in G20 second Framework Working Group meeting: CEA
Global macro-economic issues to be discussed in G20 second Framework Working Group meeting: CEA
Source: Accord Fintech
24/03/2023 10:30:21 AM
Global uncertainty rising, need to maintain `margins of safety`: V Anantha Nageswaran Chief Economic Advisor V Anantha Nageswaran has said the global uncertainty has been rising after the recent developments in the United States and governments, businesses and individuals should keep 'margins of safety' in fiscal, corporate and savings account planning. Nageswaran said the global growth estimates of the International Monetary Fund (IMF) given in January looks outdated and countries will have to watch what the developments in the US over the last week would do to c...
Global uncertainty rising, need to maintain `margins of safety`: V Anantha Nageswaran
Global uncertainty rising, need to maintain `margins of safety`: V Anantha Nageswaran
Source: Accord Fintech
17/03/2023 10:32:18 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
Need to differentiate between competition, free markets: Anantha Nageswaran Chief Economic Adviser V. Anantha Nageswaran on Friday said that there is a need to differentiate between competition and free markets. Nageswaran, while delivering a keynote address at the National Conference on Economics of Competition Law, said that regulators and competition agencies can work in tandem to set up a framework to prevent barriers in markets. He further noted that it is competition which drives innovation. However at the same time, he added that there is a distinctio...
Need to differentiate between competition, free markets: Anantha Nageswaran
Need to differentiate between competition, free markets: Anantha Nageswaran
Source: IANS
3/03/2023 3:53:22 PM
India`s GDP growth likely to exceed 7% in FY23: Chief Economic Advisor Days after National Statistical Office (NSO) in its second advance estimate maintained the growth projection of 7 per cent for current fiscal year (FY23), Chief Economic Advisor V Anantha Nageswaran has expressed hope that the Gross Domestic Product (GDP) growth for the current financial year will exceed the projected 7 per cent in view of the expected revision of high frequency data. Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at Rs 159.71 trillion as agains...
India`s GDP growth likely to exceed 7% in FY23: Chief Economic Advisor
India`s GDP growth likely to exceed 7% in FY23: Chief Economic Advisor
Source: Accord Fintech
3/03/2023 10:22:30 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
Growth projection of 7% for current financial year very realistic: Anantha Nageswaran Chief Economic Advisor V Anantha Nageswaran has said high frequency data indicate buoyant economic growth momentum and the 7 per cent GDP growth estimate for the current fiscal is very realistic. He also said that there are enough signs that manufacturing is in good health. According to him, the GDP growth forecast of 6.5 per cent for the next fiscal is well within the range of forecast by other agencies like OECD and ADB but there are downside risks. He stated ‘Inflation is softenin...
Growth projection of 7% for current financial year very realistic: Anantha Nageswaran
Growth projection of 7% for current financial year very realistic: Anantha Nageswaran
Source: Accord Fintech
1/03/2023 10:22:49 AM
India will continue with efforts to curb inflation - FM Nirmala Sitharaman The Indian government and the central bank are taking steps to control inflation, Finance Minister Nirmala Sitharaman said on Monday, as retail prices have again risen above comfort levels. Among other moves, the government has increased the import of edible oil as required to rein in inflation and provided free grains to the poor since the COVID-19 pandemic, and would "continuosly monitor prices," Sitharaman said at a post-budget industry interaction in Jaipur. Last week, Ind...
India will continue with efforts to curb inflation - FM Nirmala Sitharaman
India will continue with efforts to curb inflation - FM Nirmala Sitharaman
Source: Reuters
20/02/2023 2:51:13 PM
India's robust digital infrastructure can push GDP, says Chief Economic Adviser Chief Economic Adviser V. Anantha Nageswaran on Tuesday said that digital investments will mainly drive the country's growth, as they would act as "growth magnet" in the near future. Addressing a press conference after the release of the Economic Survey for 2022-23, Nageswaran said India's robust digital infrastructure has the potential of adding around up to 100 basis points to India's GDP rate. On the Economic Survey, which was tabled in Parliament by Finance Min...
India's robust digital infrastructure can push GDP, says Chief Economic Adviser
India's robust digital infrastructure can push GDP, says Chief Economic Adviser
Source: IANS
31/01/2023 6:42:45 PM
Know the architects of Union Budget As the day for the presentation of Union Budget 2023-24 nears, Finance Minister Nirmala Sitharaman and her team of officials are burning the midnight oil to unveil the nation's record of income and expenses on February 1. IANS takes a look at the nine individuals who are the brains behind the annual exercise. * Nirmala Sitharaman, Finance Minister Nirmala Sitharaman will be presenting her fourth Union Budget on February 1. She has helmed the Finance Ministry during the two tumult...
Know the architects of Union Budget
Know the architects of Union Budget
Source: IANS
17/01/2023 10:28:35 AM
India has shown growth and resilience amid global headwinds: PM Narendra Modi Prime Minister Narendra Modi said on Friday that India has shown growth and resilience amid global headwinds, as he urged the public and private sectors to seize opportunities arising as a result of emerging global environment, and to think out of the box. Modi said this during his interaction with economists prior to the forthcoming Union Budget to be presented on February 1. Recognising that the underlying global headwinds are likely to continue, strategic recommendations were also ma...
India has shown growth and resilience amid global headwinds: PM Narendra Modi
India has shown growth and resilience amid global headwinds: PM Narendra Modi
Source: IANS
14/01/2023 10:20:22 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
India's public capex may not need to expand at same pace in coming years - CEA India's public sector capital expenditure will continue, but may not need to expand at the same pace as it has in recent years, the country's chief economic adviser (CEA) said on Friday. "What we have now in the corporate sector are very healthy balance sheets, very healthy bottom line, and a financial system that is repaired, ready to lend and the corporate sector is ready to borrow," V. Anantha Nageswaran said at an event in New Delhi. Therefore, it may not be necess...
India's public capex may not need to expand at same pace in coming years - CEA
India's public capex may not need to expand at same pace in coming years - CEA
Source: Reuters
9/12/2022 10:51:51 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
Rationalising income tax, lowering Customs duties among suggestions to Centre Rationalisation of income tax, fiscal consolidation, lowering of Customs duties, developing a mechanism for green certification to help micro small and medium enterprises (MSMEs) and introduction of an urban employment guarantee programme to boost employment generation in urban areas, are some of the key suggestions which Finance Minister Nirmala Sitharaman received over the past one week from various sections of stakeholders, as part of her pre-budget consultations. The Finance Minister o...
Rationalising income tax, lowering Customs duties among suggestions to Centre
Rationalising income tax, lowering Customs duties among suggestions to Centre
Source: IANS
29/11/2022 9:49:28 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
Trade representatives seek greater support for export sector from Finance Minister Increase in personal tax exemption and deduction limits and greater support for the exports sector were some of the key demands which were made before Finance Minister Nirmala Sitharaman by the trade and service sector representatives, who met her on Thursday as part of pre-budget consultations. The Federation of Indian Export Organisations (FIEO) sought creation of a fund and availability of credit at affordable rates, while also urging the Finance Minister to extend greater support to ex...
Trade representatives seek greater support for export sector from Finance Minister
Trade representatives seek greater support for export sector from Finance Minister
Source: IANS
24/11/2022 5:14:28 PM
Economy doing well, can reach $5 trillion target by 2025-26: Officials India would be able to achieve the target of becoming a $5 trillion dollar economy by 2025-2026 despite the prevailing global headwinds, top officials told a Parliamentary panel on finance on Monday. The officials further said that even as the geopolitical situation is highly volatile due to the Russia-Ukraine war, Indian economy is doing well and at the current growth rate of 6.4 per cent, it would be able to become a $5 trillion dollar economy by 2025-26, sources privy to developments sa...
Economy doing well, can reach $5 trillion target by 2025-26: Officials
Economy doing well, can reach $5 trillion target by 2025-26: Officials
Source: IANS
22/11/2022 10:58:08 AM
CII suggests slashing income tax rates in forthcoming budget The Confederation of Indian Industry (CII) has suggested a cut in personal income tax rates to revive demand -- a move which would benefit 5.83 crore taxpayers who have filed returns for assessment year 2022-23. The industry body gave this suggestion to Finance Minister Nirmala Sitharaman on Monday, during the pre-budget meeting, which she held with industry chambers. CII further suggested reducing the highest 28 per cent GST slab on consumer durables. Further the industry body also ...
CII suggests slashing income tax rates in forthcoming budget
CII suggests slashing income tax rates in forthcoming budget
Source: IANS
22/11/2022 9:33:01 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 in stable economic situation despite multiple crises taking place simultaneously: CEA Chief Economic Advisor (CEA) to the government V Anantha Nageswaran has said that India is in a stable economic situation and the growth momentum is good despite the multiple crises taking place simultaneously and getting entangled with each other. He said that the world is passing through a 'polycrisis', which is multiple crises of high inflation, tightening of monetary policy, high interest rates, slowdown in China which affected global supply chain, and the Russia-Ukraine war. C...
India in stable economic situation despite multiple crises taking place simultaneously: CEA
India in stable economic situation despite multiple crises taking place simultaneously: CEA
Source: Accord Fintech
9/11/2022 11:34:10 AM
India should allow gradual rupee weakening, use forex reserves 'judiciously' - V. Anantha Nageswaran India's central bank should allow rupee to depreciate gradually and use foreign exchange reserves judiciously, the government's chief economic adviser V. Anantha Nageswaran on Monday. Nageswaran comment on the rupee and foreign exchange reserves is the first official government comment since concerns about dwindling currency reserves emerged earlier this year. India's foreign currency reserves have fallen from a peak of $642 billion to $531 billion partly due to dollar sales...
India should allow gradual rupee weakening, use forex reserves 'judiciously' - V. Anantha Nageswaran
India should allow gradual rupee weakening, use forex reserves 'judiciously' - V. Anantha Nageswaran
Source: Reuters
8/11/2022 9:57:10 AM
India encountering global shocks with better household, corporate, financial sector balance sheets: CEA Chief Economic Adviser (CEA) V Anantha Nageswaran has said that India is encountering global shocks with a position of strength backed by far better household, corporate and financial sector balance sheets and its medium term growth outlook is good. He said ‘Overall, all things considered, including the risk of oil price, I do believe that the external situation will be manageable, of course with some anxious moments to come.’ CEA further said that given all the short-term unkn...
India encountering global shocks with better household, corporate, financial sector balance sheets: CEA
India encountering global shocks with better household, corporate, financial sector balance sheets: CEA
Source: Accord Fintech
7/11/2022 11:27:32 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
Fintech platform Mintoak enabling banks to digitally empower merchant ecosystem  India's fintech market is expected to reach $1 trillion by 2030, from $31 billion in 2021, according to Chief Economic Advisor Dr V. Anantha Nageswaran. As the fintech industry aims to reach new horizons, Mintoak, a homegrown embedded fintech platform is enabling banks to digitally empower their merchant ecosystem by powering digital payments and financial services. Mintoak has built a modularised, cloud-native, API-first payments Platform-as-a-Service (PaaS) that allows their ba...
Fintech platform Mintoak enabling banks to digitally empower merchant ecosystem
Fintech platform Mintoak enabling banks to digitally empower merchant ecosystem
Source: IANS
22/09/2022 4:27:11 PM
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`s fintech market to reach $1 trillion by 2030: Chief Economic Advisor  India's fintech market is expected to reach $1 trillion by 2030, from $31 billion in 2021, Chief Economic Advisor Dr V. Anantha Nageswaran said here on Tuesday. Speaking at the 'Global Fintech Fest 2022' (GFF 2022), he noted that a major shift towards a more equitable distribution of investment across sectors including insurtech and wealthech, etc, has started taking place. "We are talking about bridging the digital divide and the economic divide. Therefore the fo...
India`s fintech market to reach $1 trillion by 2030: Chief Economic Advisor
India`s fintech market to reach $1 trillion by 2030: Chief Economic Advisor
Source: IANS
21/09/2022 9:49:42 AM
FSDC underlines need to monitor financial sector risks, discusses early warning signals for economy  The Financial Stability and Development Council (FSDC) on Thursday noted that there is a need to monitor financial sector risks, fiscal conditions, and market developments on a continuous basis by the government and the regulators, so that appropriate action can be taken to mitigate any vulnerability and strengthen financial stability. The FSDC meeting in Mumbai, chaired by Finance Minister Nirmala Sitharaman, also discussed early warning indicators for the economy and the government...
FSDC underlines need to monitor financial sector risks, discusses early warning signals for economy
FSDC underlines need to monitor financial sector risks, discusses early warning signals for economy
Source: IANS
16/09/2022 9:19:49 AM
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
Private sector needs to invest more in technology, R&D to help economy: Chief Economic Advisor With an aim to help the economy revive better, Chief Economic Advisor V Anantha Nageswaran has said the private sector needs to invest more in technology and research and development (R&D), and pay the MSME suppliers on time. Stating that Indian economy cannot remain exempt from the global challenges he said but it remains resilient and is poised for a rebound as the banking system is better, inflationary issues are peaking out and ongoing recovery is healthy. He said ‘It is to o...
Private sector needs to invest more in technology, R&D to help economy: Chief Economic Advisor
Private sector needs to invest more in technology, R&D to help economy: Chief Economic Advisor
Source: Accord Fintech
10/08/2022 10:30:06 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