x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Justice For Terror Victim Families | Kathua Administration welcomes first Batch of Amarnath Yatris at Lakhanpur | Yatra of resilience: LG to flag off first batch today after Pahalgam carnage, Op Sindoor | LG visits Yatri Niwas at Bhagwati Nagar, reviews arrangements | LG reviews final preparations | LG chairs high-level meeting, discusses issues of terror victim families | LG flags off fleet of ambulances in Ramban, Anantnag districts | 5 real brothers from Budgam among fraudulently selected candidates | Hope beneath the surface: Govt plans underground hospital in Poonch | ACB catches DDC member red handed | Crime Branch books J&K Bank officers, others for frauds | Back Issues  
 
news details
Indian economy to grow at 6.5-7 % in FY 2024-25: CEA
9/27/2024 11:06:07 PM

KOLKATA, Sept 27:
Agencies

Chief Economic Advisor (CEA) to the Union government, V Anantha Nageswaran, on Friday said that the Indian economy is expected to grow at a rate of 6.5-7 per cent in the current financial year on a steady state basis.
He said the growth rate is commendable given the current global scenario.
Speaking virtually at an event organised by the Bengal Chamber of Commerce and Industry (BCCI), Nageswaran said that while the economy will grow at 6.5 per cent in real terms, the nominal rate of growth will be 11 per cent, taking inflation into account.
“The Indian economy is poised to remain the fastest growing in the current financial year with a growth rate of 6.5-7 per cent on a steady state basis. This is a very good achievement in the current global context,” Nageswaran said.
He said that while the world is facing medium-term uncertainties with global trade slowing to a crawl, post-COVID recovery in India is now cemented due to calibrated fiscal and monetary policies pursued by the government.
“Post-COVID recovery in India is cemented due to prudent macro-economic management which laid the foundation of economic growth with stability,” he said.
Nageswaran said that there is no vulnerability in the current account balance of the country with domestic financial markets and the banking system in good health.
“The macro indicators signal stability. There has been a massive shift in capital expenditure, declining external debt to GDP ratio and lower retail inflation,” Nageswaran said.
He said all of these warrant a credit system upgrade of the country, adding that the supply side capability of the economy has been boosted which also helped in keeping inflation on the leash.
“All these will help maintain a steady growth rate over the next several years. And India needs to find domestic sources of growth,” the CEA said.
The country needs to generate productive employment, ensure food security, ease regulatory bottlenecks for the MSMEs and ensure efficient financial resource allocation, he said.
Nageswaran said the MSME sector is the key to non-farm job creation and small and medium firms need to graduate into large enterprises to absorb more labour.
He said there is also a need for greater participation of women in the workforce for which safety and security in workplaces have to be ensured.
Regarding artificial intelligence (AI), Nageswaran said that it might end up displacing labour.
“An appropriate balance has to be struck between technology and labour keeping the social responsibilities in mind,” he 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