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Uttar Pradesh leads with the highest state budget for FY 2025-26 at ₹8.08 lakh crore, followed by Karnataka, Gujarat, and West Bengal. Here’s a breakdown of major state budget allocations.
India is currently the world's fifth-largest economy and is likely to overtake Japan to become the world's third-largest economy by 2030 with a GDP of US$ 7300 billion, said S&P Global in its report.
Up to July, the central government collected ₹5.8 trillion in tax revenue, which is a quarter of the ₹23.3 trillion full year target
The MSME sector is an important pillar of the Indian economy, contributing significantly to job creations and economic growth, according to Nikhil Nirmal, MD, WBSIDCL.
The predicted volatility of the Indian rupee relative to the dollar over the coming month fell to its lowest level in nearly seven months on Tuesday, mirroring the currency's recent tight trading range and on anticipations of continuing support from the central bank.Expected volatility for the Indian rupee is at a 7-mo low and is tracking a small spot range.
The country's merchandise exports increased overall from April to January 2022–2023 by 8.51% to $369.25 billion.
Even if the world is "perilously close" to entering a recession, there are "limited spillovers" to Asia's third-largest economy.
According to estimates, manufacturing production will expand at a slower rate of 1.6% compared to FY22's 9.9% growth.
The hospitality sectors are most vulnerable to lockdown, it looks apprehensively towards the future as the cases spike in China.
According to Union Minister Nitin Gadkari, India has the world's fastest-growing major economy and is on track to reach a $5 trillion GDP by 2024 or 2025.
Anand Mahindra said "The news would have warmed the hearts of every Indian who fought valiantly and gave their lives for the country's freedom."
The rate hike expectations come despite economists predicting a moderated inflation due to a drop in global commodities and the alleviation of supply chain bottlenecks.
India’s services activities increased at the strongest rates since the year 2011. The Purchasing Manger’s Index (PMI) rose from 57.9 in the last month to 58.9 in May which marked the quickest increase since the year 2011.
The expansion in GDP during 2021-22 is expected to be at 8.9% as against to a squeeze of 6.6% in 2020-21, as per the data announced by the National Statistical Office.
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