SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 03 Jun, 2024  

Election.9.Thmb.jpg New government, new hopes

india-industry
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
Bikky Khosla | 03 Jun, 2024

With most of the exit polls, even if just indicative, predicting return of BJP-led NDA to power for the third time in succession, economy watchers are eagerly waiting for the final outcome of the Lok Sabha Elections, 2024 scheduled on June 4, with most of them stressing the need of a stable government capable of taking forward the direction of growth for the Indian economy which has been notably outperforming in the last few years.

While some sceptics view that that the ruling party may find it difficult to replicate its 2019 performance, from an economic point of view, most experts view that a stable government is a must for micro stability and policy continuity. The last government has already done a lot of stuff and now a stable one needs to keep building on that. While reforms and growth must continue, the new government must equally focus on solving people's problems.

Meanwhile, the Ministry of Statistics last week released latest GDP data, showing a robust 7.8 percent growth clocked by the Indian economy in the January-March quarter, pushing growth rate for the full financial year 2023-24 to a stellar 8.2 percent against 7 percent in FY 2022-23. These figures, along with 9.9 percent growth witnessed in the manufacturing sector, are really encouraging and augur well India, already the fastest-growing major economy in the world.

In addition to this better-than-expected GDP data, in another positive development for the economy, fiscal deficit for the full financial year fell to 5.6 percent against revised budgeted figure of 5.8 percent. Experts point out that the RBI's highest-ever dividend transfer of Rs 2.11 lakh crore to the Central government will definitely have further positive impact on government’s fiscal position and liquidity.

I invite your opinions.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter