SME Times is powered by   
Search News
Just in:   • EU leaders need to relook at GSP+ trade status for Pakistan  • NHAI likely to garner Rs 35,000-40,000 crore from road assets in FY26  • 30 lakh join PM Vishwakarma Scheme in 2 years, 4.7 lakh loans worth Rs 41,188 crore approved  • India-US trade talks resume amid renewed hopes over tariffs  • Passenger vehicle sales down in Aug as consumers await GST cuts, 2-wheeler sales up: SIAM 
Last updated: 30 Jan, 2024  

India.Growth.9.Thmb.jpg Economic growth

GDP.9.jpg
   Top Stories
» 30 lakh join PM Vishwakarma Scheme in 2 years, 4.7 lakh loans worth Rs 41,188 crore approved
» India-US trade talks resume amid renewed hopes over tariffs
» Passenger vehicle sales down in Aug as consumers await GST cuts, 2-wheeler sales up: SIAM
» Nifty, Sensex open flat as investors wait for fresh cues, US Fed meet outcome
» India’s GDP growth to remain steady at 6.5 pc, another RBI rate cut likely this fiscal
Bikky Khosla | 30 Jan, 2024

A review of the Indian economy by the Finance Ministry has estimated India’s growth at 7 percent or above for FY24. Growing at this rate while the world economy is struggling to grow at around 2 percent will be impressive, it adds. There is little doubt that our economy has for quite some time now been performing well, but if the global economic challenges, particularly geopolitical conflicts continue in 2024, new challenges will arise for India as well.

The report presents some interesting facts about India’s social transformation, adding that with Central government's expenditure on social services increasing at a Compound Annual Growth Rate (CAGR) of 5.9 percent between FY 2014 and 2023, the lives of the common person now look remarkably better. Several key improvements have been recorded in areas like poverty reduction, primary healthcare, education, financial security, skill development, etc.

The report, while pointing out some priority areas for future reforms, states about reduction in compliance burden for MSMEs. Ahead of the Budget, experts also anticipate a lot of such measures, including simplified regulatory procedures, but there should also be some urgent steps to address the lingering problem of lack of credit availability and higher interest rates. This sector, with its immense employment generation and social transformation prowess, must be a priority.

Meanwhile, according to a latest survey, business activity in India surged a four-month high in January. HSBC's flash India Composite PMI found both manufacturing and services registering robust growth in the month. The survey participants stated about higher sales and faster rate of expansion in new orders due to favourable economic conditions and demand strength.

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
₹84.00
₹82.25
UK Pound
₹104.65
₹108.10
Euro
₹92.50
₹89.35
Japanese Yen ₹56.10 ₹54.40
As on 25 Jul, 2025
  Daily Poll
Who do you think will benefit more from the India - UK FTA in the long run?
 Indian businesses & consumers.
 UK businesses & consumers.
 Both will gain equally.
 The impact will be negligible for both.
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter