The Indian economy is projected to grow beyond 7 percent, potentially reaching up to 7.5 percent in the current fiscal year, according to the National Council of Applied Economic Research (NCAER). This optimistic outlook is attributed to a normal monsoon season and decreased electoral uncertainty. In its July 2024 Monthly Economic Review, NCAER noted that India’s real GDP increased by 8.2 percent in FY2023-24, driven by robust consumption demand and steadily improving investment demand. Poonam Gupta, NCAER’s director general, highlighted that the growth forecast is based on the current momentum in high-frequency indicators, a normalized monsoon, a favorable global outlook,…
Author: Nupur Rohila
Nupur Rohila
Love, nature, women's empowerment, and social issues make up the bulk of Nupur's writing topics. She earned a Master of Arts in Ancient History and a Bachelor of Arts in English from Delhi University before she began writing. It just so happens that Nupur also aced the Junior Research Fellowship exam for history. At present, Neha is working as a freelance content writer.
Manu Bhaker broke India’s 12-year drought for an Olympic shooting medal, earning a bronze in the 10m air pistol event at the Paris Games on Sunday. This victory marks the first time an Indian woman has stood on the Olympic podium in this discipline. The last time Indian shooters clinched Olympic medals was in 2012, when Vijay Kumar and Gagan Narang each secured bronze at the London Games. Since then, Indian shooting teams went through two Olympic cycles without a medal. At just 22 years old, Manu Bhaker faced intense competition and managed to score 221.7 points to secure her…
An ex-adviser to former President Bill Clinton has speculated that Donald Trump might replace Senator JD Vance as his vice presidential running mate. This speculation comes amid rumors of Trump experiencing regrets about his choice, especially since President Joe Biden’s withdrawal and endorsement of Vice President Kamala Harris as the likely Democratic nominee. Despite Trump publicly defending Vance, claiming he is “doing a fantastic job” and has been “very well received,” concerns persist about whether Vance could be a liability for Republicans in the upcoming election. Paul Begala, who served as a White House adviser and chief strategist during Clinton’s…
The Marine Products Export Development Authority (MPEDA) has underscored the transformative impact of the Union Budget 2024-25 on India’s marine sector. The new budget introduces several key reforms aimed at revitalizing aquaculture and boosting seafood exports. Notable changes include the rationalization of customs duties and the enhancement of financing facilities. Specific measures involve exemptions from customs duties on essential feed inputs like mineral and vitamin pre-mixes, krill meal, fish lipid oil, and algal oil. Import duties on Artemia and Artemia cysts, crucial for aqua hatcheries, have also been removed. Additionally, the Basic Customs Duty (BCD) on inputs for aquafarms and…
On Wednesday, a prominent Canadian MP of Indian descent criticized the growing influence of Khalistani extremists in Canada, claiming they are “polluting” the nation by misusing the freedoms granted under the Charter of Rights. This statement followed an incident where the BAPS Swaminarayan Mandir in Edmonton was vandalized with anti-India graffiti. Chandra Arya, MP for Nepean and a member of Prime Minister Justin Trudeau’s Liberal Party, highlighted the incident on social media. He condemned the temple vandalism and expressed concern about hate-driven violence by Khalistan supporters. Arya also shared that separatist Gurpatwant Singh Pannun from Sikhs for Justice had released…
The Center for Strategic and International Studies (CSIS), a bipartisan, nonprofit policy research organization based in Washington D.C., has appointed Indian-American Navin Girishankar as the president of its newly established Economic Security and Technology Department. This new department aims to integrate various CSIS programs to provide research on economic and technology policies critical to U.S. national security. It will concentrate on key areas such as artificial intelligence, semiconductors, energy security, critical minerals, and advanced technologies including digital, quantum, and cybersecurity. Previously, Girishankar served as a senior counselor to the U.S. Deputy Secretary of Commerce, where he played a pivotal role…
In a recent parliamentary presentation, Finance Minister Nirmala Sitharaman introduced the Economic Survey, which projects India’s GDP growth rate for the 2024-25 fiscal year to be between 6.5% and 7%. This optimistic forecast highlights the economy’s robust position despite global uncertainties. The survey notes that the global economic growth rate is expected to be 3.2% in 2023, according to the April World Economic Outlook. Variations in growth rates among countries are attributed to domestic structural challenges, differing levels of exposure to geopolitical conflicts, and the effects of tighter monetary policies. India has managed to sustain the growth momentum achieved in…
India’s economic landscape is undergoing a notable transformation as global supply chains increasingly shift towards the country. In a significant development, India is closing the gap with China and Vietnam in mobile phone exports. While mobile exports from China and Vietnam saw declines of 2.78% and 17.6%, respectively, India experienced a remarkable surge of 40.5%, capturing nearly half of the reduced exports from these countries. This shift is driven by the government’s Production-Linked Incentive (PLI) schemes, which are beginning to yield tangible results. Beyond mobile phones, India is also making strides in other export sectors. The Economic Survey 2023-24 highlights…
Prime Minister Narendra Modi announced today that the Union Budget 2024, to be unveiled in Parliament tomorrow, aims to advance the vision of a ‘Viksit Bharat’ (Developed India) by 2047. Speaking at the start of the Parliament’s Budget session, PM Modi emphasized that India remains the fastest-growing major economy globally, with growth rates sustained at around 8% for some time. Marking the first Monday of Sawan, an auspicious period, PM Modi expressed his greetings and emphasized the significance of the upcoming session. He noted that it is a momentous occasion as the government prepares to present its first Budget for…
On Friday, the Ministry of External Affairs appointed Vinay Mohan Kwatra as the new Ambassador of India to the United States. Kwatra, a distinguished Indian Foreign Service officer from the 1988 batch, will soon begin his new role, filling the vacancy left by Taranjit Sandhu, who retired in January 2024. Kwatra recently retired as India’s Foreign Secretary in July, having had his tenure extended from the original end date of April 30 to October. His appointment comes following Vikram Misri’s recent succession as Foreign Secretary. Kwatra’s career includes significant roles across various international posts. He has previously served in China…