CHIEF ECONOMIC ADVISOR INDIA
D-Street experts hail BJP alliance's emphatic Maharashtra victory, see policy continuity in state
The BJP's significant win in the Maharashtra assembly elections is predicted to cause a surge in the stock market, reflecting renewed investor confidence in the government's economic policies. Experts believe this decisive victory will lead to stability and growth, particularly in sectors like infrastructure and manufacturing.
CEA Nageswaran asks India Inc not to seek protective cover of weak currency
India's Chief Economic Advisor, V Anantha Nageswaran, cautioned Indian businesses against relying on a weak currency to boost exports. He emphasized that while a weaker currency can make exports cheaper, it shouldn't replace productivity and innovation. Nageswaran urged companies to focus on enhancing productivity, research, and development instead of depending on currency fluctuations for competitiveness.
"We welcome industries who create jobs in our state": Karnataka Dy CM DK Shivakumar
Karnataka Deputy Chief Minister DK Shivakumar pledged the government's full support to industries that create jobs in the state. He highlighted Karnataka's resources, including its educational institutions and energy self-sufficiency. Shivakumar praised Industries Minister MB Patil's leadership and acknowledged Sajjan Jindal's contributions to sports through CSR. He also assured the reissuance of BPL cards to eligible families if canceled erroneously.
India's Q2 economic growth likely took a hit from heavy rains and corporate struggles: ICRA
India's economic growth is expected to moderate to 6.5% in the second quarter. This is due to heavy monsoon rains and weaker corporate margins. However, government capital expenditure and kharif sowing have shown positive growth. The industrial sector is likely to see the biggest slowdown. Services and agriculture sectors are expected to remain resilient.
Creating jobs in manufacturing in the US and India is a study in contrast
Trump and Modi are focusing on manufacturing to boost their economies. However, historical trends suggest that this approach is likely to fail in developed countries like the US. While India has potential in this sector, its progress is hindered by rigid labor laws and excessive holidays, making its workforce less competitive.
Trump tariffs, slower global trade likely to slow India exports, says CEA Nageswaran
India's Chief Economic Advisor, V Anantha Nageswaran, cautioned that the country needs to brace for potential increases in US tariffs and a slowdown in global export growth under the Trump administration. While acknowledging the challenges posed by these factors, Nageswaran highlighted the need for India to focus on domestic growth drivers and adapt to the evolving global trade landscape.
Massive encouragement to private transport, wrong farm policies behind high pollution levels: CEA
India's Chief Economic Advisor, G Anantha Nageswaran, stated that excessive support for private transport and flawed agricultural policies are contributing to severe pollution levels in Delhi. He emphasized the urgency of addressing visible issues like pollution to gain public trust in the government's ability to tackle challenges and achieve high growth.
Alpha Alternatives raises Rs 3,800 cr through first close of maiden infrastructure fund
Alpha Alternatives Fund Advisors has secured $450 million in the first close of its inaugural infrastructure fund, aiming to raise a total of $750 million. The fund will invest in Indian road assets, including a strategic partnership with Dilip Buildcon. They plan to establish an infrastructure investment trust (InvIT) for exiting assets by 2025.
Piyush Goyal urges RBI to cut rates, Gov says focus is to maintain financial stability, which breeds growth and prosperity
India's Commerce Minister, Piyush Goyal, has called for interest rate cuts to stimulate economic growth, sparking a debate about the central bank's focus on inflation. Goyal argues that food inflation should be excluded from policy rate decisions, a view contrasting with the Reserve Bank of India's stance.
India must focus on growth, deregulation to attract investment: Chief Economic Advisor
India's Chief Economic Advisor V. Anantha Nageswaran underscored the importance of enhancing India's investment appeal through internal economic reforms, focusing on deregulation and supporting the growth of small and medium enterprises (SMEs) to establish India as a global manufacturing hub.
India's focus should shift to job quality amid AI disruption, says CEA Anantha Nageswaran
India's job market is showing growth, but the focus should be on job quality as AI reshapes the landscape. Evidence suggests job creation is not a concern, but the nature of these jobs is crucial. While concerns exist about unemployment figures, rural areas are seeing a shift towards self-employment and income generation.
Top government jobs that will soon be vacated: CAG, RBI Governor, CEA, and SEBI Chairperson
The Union Government is set to make critical decisions on four major appointments, starting with a new Comptroller and Auditor General in November. Reappointments for the RBI Governor, Chief Economic Adviser, and SEBI Chairperson are also under consideration, with potential leadership changes anticipated.
India needs revolutionary growth to become developed economy: ISRO Chief S Somanathan
ISRO Chairman S. Somanathan emphasized the necessity of technological advancements and product development for India's transformation into a developed economy. He lauded Elon Musk's space innovations and highlighted India's progress, urging continuous efforts, private investment, and lifelong learning for future growth.
RBI chief Shaktikanta Das says inflation moderating, but upside risks require vigilance
India's inflation is moderating, but the Reserve Bank of India remains vigilant to risks from unexpected events. Governor Shaktikanta Das stated that the central bank aims to align inflation to 4% and keep it close to the target. The financial sector is resilient, but constant vigilance is necessary due to the changing environment.
Rajan is against excluding food inflation while setting benchmark interest rates
Former RBI Governor Raghuram Rajan opposes excluding food prices from headline inflation, stressing it undermines public trust. He supports targeting a consumer-based basket to better reflect inflation expectations. Rajan critiques suggestions from the Economic Survey 2023-24, highlighting the need for RBI to manage overall price levels. He also emphasizes the importance of credible regulatory responses to allegations and supports lateral entry in the bureaucracy with careful consensus.
Indian economy to grow at 6.5-7% in FY 2024-25 on steady state basis, says CEA Nageswaran
The Indian economy is projected to grow at a rate of 6.5-7 per cent in the current financial year, according to Chief Economic Advisor V Anantha Nageswaran. He highlighted that the post-COVID recovery is solidified due to prudent fiscal and monetary policies. The growth rate, including an 11 per cent nominal rate accounting for inflation, is notable given global uncertainties.
Chief economists bullish on India, cautious optimism for global recovery: WEF survey
Chief economists express cautious optimism about the global economy, highlighting India's strong performance in South Asia. The World Economic Forum's survey points to easing inflation and robust global commerce but raises concerns over elevated debt levels affecting both advanced and developing economies, potentially limiting future investments in essential sectors.
US Fed rate cut to have a 'marginal' impact on India
Chief Economic Advisor V. Anantha Nageswaran stated that the Federal Reserve's rate cut could have a positive impact on the global economy. However, he noted that its effect on India would be marginal. Economic Affairs Secretary Ajay Seth echoed this sentiment, suggesting the cut would not significantly influence investment flows into India.
Banks need to adapt to changing customer preferences to remain competitive: CEA
Chief Economic Advisor V Anantha Nageswaran emphasized the need for banks to adapt to changing customer preferences and market dynamics. Speaking at an event by Indian Bank, he highlighted agriculture's role in economic growth and praised the bank's MSME Prerana programme. Indian Bank CEO S L Jain appreciated Nageswaran's insights on the economy and banking sector.
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