The data, research, and analytics firm expects India to grow at 6.7 percent on an average per year for eight years starting 2023-24 and retain the tag of the world's fastest growing large economy in. Meanwhile, the government and the RBI see India's GDP growing by 6.5 percent in 2023-24
Two banks in America have gone belly up over the last week. Signature Bank, New York, which lent mostly to crypto industry was shut down by the regulators on Sunday after there was a run on their deposits.
A trio of Alphabet executives sounded caution on a call with investment analysts, using "uncertain" or "uncertainty" at least 13 times to describe the economy. YouTube ad sales grew at their slowest pace since disclosures began in 2018.
Jaitley said he would prefer to lower fiscal deficit by boosting revenues rather than cutting down on expenditure.
Small and medium enterprises in Tamil Nadu have been badly impacted by the gloabl economic slowdown. Exports from these industrives have dropped and has left thousands jobless.
India's export of goods rose an unprecedented 82% to USD 29.3 billion this July. However, neither the exporters nor the government is celebrating, reports CNBC-TV18. The gloom comes in the light of an expected slide in outflow in the coming months, on the back of global uncertainty and cost pressures in the domestic market.
The head of the International Monetary Fund will seek to activate a USD 580 billion crisis fund next week, a confidence-building step at a time of heightened global uncertainty.