x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Forces thwart Pak’s Hamas-style attack on Jammu | In Pak terrorists are given state funerals: Foreign Secretary | Terror nexus exposed: Al-Qaeda backs Pak | Jammu mosques, madrassas open for displaced border residents | Amid cross border shelling, CM Omar reviews situation in border districts | Breeding Ground for fidayeen, links to Hamas, stockpiled NATO arms | PM meets secretaries, stresses on alertness | Masood Azhar’s brother killed: BJP | LG Sinha chairs high-level meeting, reviews preparedness | Army uses Harpy drones to target enemy air defence systems | Pak attempts to attack 15 places in North, Western India foiled | 100 terrorists, aides killed in strikes: Rajnath at All-Party Meeting | SDRF conducts Mock Drill Exercise at IIT Jammu | Developed India strikes back at provocateurs by entering their hideouts: CM Yogi | Cash Row: CJI recommends impeachment of Justice Yashwant Varma, says sources | Amit terms AI as biggest disruptive tech of 21st Century in MZU National Workshop | Salman Sagar appointed as vice provincial president of JKNC | SET exam in J&K, Ladakh UTs postponed | ASCOMS & Hospital to provide free treatment to border shelling victims | Rs 300 crore BrahMos Missile Unit set to be inaugurated in Lucknow on May 11 | Any military attack on India will be met with very firm response: EAM Jaishankar | Vivek Bali Expresses Deep Grief Over Loss of Lives in Poonch Due to Pakistan Shelling | Reasi police foil illegal transportation of Khair logs in Katra area | 84 Bn CRPF Provides Relief to Flood-Affected Families | DC Jammu Reviews Zonal Master Plan for Ramnagar Eco-Sensitive Zone | Horticulture Department Kathua organises exposure visit | DC conducts on site inspection of restoration works on NH-44 | Power shut down in several areas | GMC Doda organises Blood Donation Camp | HPS participates in annual “Save Water, Save Birds” campaign | World Red Cross Day observed at Udhampur | Reasi Administration celebrates World Red Cross Day | ACR reviews implementation of E-Waste Management Action Plan | Poonch Administration steps up restoration of Essential Services, Supplies | Arushi Kotwal of Doda Honoured by Union Minister Dr Mansukh Mandaviya | Mini-Super Bazar M-PACS Maitra inaugurated in Ramban | DC Reasi felicitates JK Board Class 10th 12th Toppers | Back Issues  
 
news details
India to remain fastest-growing major economy in FY'24: Finance Ministry Report
10/23/2023 10:31:09 PM
Agencies

New Delhi, Oct 23: India will remain the fastest-growing major economy in the world in 2023-24 fiscal on the back of strong domestic fundamentals and benign inflation expectations, a finance ministry report said on Monday. The September edition of the Monthly Economic Review also flagged that global uncertainties have been compounded by recent developments in the Persian Gulf and depending on how the situation develops, crude oil prices may push higher.
Further, the relentless supply of US Treasuries and continued restrictive monetary policy in the US (with further monetary policy tightening not ruled out) could cause financial conditions to be restrictive.
At current levels, US stock markets have greater downside risk than upside. If the downside risk materialises, it will have spillover effects on other markets, the report said.
Fraught geopolitical conditions can cause a general increase in global risk aversion. If these risks worsen and are sustained, they can affect economic activity in other countries, including India," the ministry said.
However, the report emphasised that India's macroeconomic outlook for fiscal 2023-24 is bright and is solidly underpinned by strong domestic fundamentals. Alongside private consumption, investment demand is also firming up.
There are additional growth levers in broad-based industrial growth and buoyant residential property markets. Industrial capacity utilisation has improved.
Further, the report said improved reservoir levels augur well for the upcoming Rabi season. Core inflation is declining steadily while food inflation has eased.
The ministry noted that with a lower trade deficit and a comfortable forex reserves position, India's external account looks robust. Echoing all this, Reserve Bank of India's forward looking surveys on manufacturing, consumer confidence, employment and inflation expectations have optimistic findings.
"In sum, as IMF projections also confirm, India will remain the fastest-growing major economy in the world in FY24," the report said.
While keeping the global growth projection for FY24 unchanged at 3 per cent, IMF revised its growth projection for India upwards by 20 basis points to 6.3 per cent in October.
This shows the growing confidence of global analysts as well in India's economic strength amidst global uncertainties and fresh geopolitical challenges, the ministry said.
While domestic macro fundamentals are strong and improving, downside risks arise from global headwinds and uncertainties in weather conditions, it added.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU