Krishna Srinivasan, the head of the IMF’s Asia Pacific department, announced that India is on track to maintain its status as the world’s fastest-growing economy, projecting a growth rate of 7% for the fiscal year 2024-2025. This forecast is underpinned by robust macroeconomic fundamentals, including a rebound in rural consumption, which has been bolstered by favorable agricultural yields. During a recent interview with PTI, Srinivasan indicated that inflation is expected to moderate to 4.4% in FY24-25, despite experiencing some fluctuations as food prices stabilize. He affirmed that fiscal consolidation remains on target, even with the upcoming elections, and highlighted the…
Author: Mohini Shinde
According to data from Sensor Tower, India has emerged as the top country for AI mobile app adoption, contributing to 21% of the total global downloads. The number of AI app downloads worldwide surpassed 2.2 billion in the first eight months of 2024. Popular applications in this category include chatbot platforms like ChatGPT, Microsoft Copilot, and Google Gemini, alongside various image and video editing tools. However, most Indian users opt for the free versions of these apps. In stark contrast, North America and Europe generated 68% of the in-app purchase revenue from AI apps, which exceeded US$ 2 billion this…
Dr. Mansukh Mandaviya, Union Minister for Youth Affairs & Sports and Labour & Employment, shared that women’s participation in the workforce has seen a remarkable increase, doubling in the last seven years. He observed that this growth parallels a trend where women are working longer hours than men in specific industries, a shift he attributed to the inclusive labor policies introduced by Prime Minister Narendra Modi. Mandaviya referred to this shift as a “silent revolution,” noting that it has changed conventional ideas about women’s roles in the labor market. He credited initiatives like Pradhan Mantri Mudra Yojana, Stand-Up India, and…
