The Finance Ministry expects the economy to grow by 6.5% in real terms in FY25. In its November economic report, the ministry highlighted a bright growth outlook for October to December. Rural demand remains strong, and urban demand is steadily improving in the first two months of the quarter. India’s GDP growth slowed to 5.4% during July-September, marking a seven-quarter low. The ministry attributed this slowdown to softer public capital expenditure and weaker private investments. Global uncertainties, excess capacity, and fears of dumping further impacted private capex. The ministr
Prime Minister Narendra Modi on Wednesday laid the foundation stone of the Ken-Betwa River Linking Project. This interstate project aims to divert surplus water from the Ken River in Madhya Pradesh to the Betwa River, opening new opportunities for prosperity in the Bundelkhand region. The project was first proposed by the National Water Development Authority (NWDA) in 1995 at an initial cost of ₹1,998.74 crore. Now estimated at ₹44,605 crore, the project will provide drinking water to 4.4 million people in 12 districts of Madhya Pradesh and 2.1 million people across 10 districts in Utt
The UAE has become Africa’s largest investor in new business projects, committing $110 billion between 2019 and 2023, according to The Guardian, citing FT Locations. Of this, $72 billion has been allocated to renewable energy, surpassing investments from the UK, France, and China as traditional investors reduce their spending. African leaders have welcomed the UAE’s growing focus on green energy and infrastructure. Ahmed Aboudouh, associate fellow at Chatham House, commented, “African countries urgently need this money for their energy transitions. However, Emirati investors often pa
Japan’s government announced on Friday that the economy experienced moderate recovery in December but flagged several potential challenges ahead. Key concerns include rising interest rates overseas and shifting U.S. trade policies. Corporate Profits Show Signs of Slowing The government downgraded its assessment of corporate profits for the first time since March 2023, citing a slower pace of recovery. “The economy is recovering moderately, although it appears to be pausing in parts,” the Cabinet Office stated in its monthly report. Outlook Remains Cautiously Optimistic Offic
India’s Product-Linked Incentive (PLI) schemes, launched in 2020, are transforming the manufacturing and export landscape. With a budget of Rs 1.97 lakh crore (USD 26 billion), the initiative boosts domestic production, exports, and job creation across 14 sectors. Investment and Employment Growth The Ministry of Commerce and Industry reports that PLI schemes have attracted investments worth Rs 1.46 lakh crore (USD 17.5 billion). Production under the initiative has reached Rs 12.5 lakh crore (USD 150 billion), while exports total Rs 4 lakh crore (USD 48 billion). Additionally, the pr
Prime Minister Narendra Modi participated in the ‘Ek Varsh-Parinaam Utkarsh’ event, marking one year of Rajasthan’s state government. Addressing the gathering, he congratulated the Rajasthan government and its people on completing a successful year. He praised Chief Minister Bhajanlal Sharma and his team for driving development in the state. PM Modi highlighted the positive impact of these development efforts. He stated that the initiatives will attract investors, create jobs, boost tourism, and benefit farmers, women, and youth in Rajasthan. He emphasized the government’s su
Japan aims for renewable energy to supply 50% of its electricity mix by fiscal 2040. Nuclear power will cover an additional 20%, according to a draft of the revised basic energy policy. This shift is part of Japan’s push for clean energy while meeting rising power demand. As the world’s second-largest importer of liquefied natural gas (LNG) and a major buyer of Middle Eastern oil, Japan’s energy plans are closely watched by global oil, gas, and coal producers. Thermal power use, especially from inefficient coal-fired plants, will drop from 68.6% in 2023 to 30-40% by 2040. The draf
Argentina’s economy saw a near 4% boost in the third quarter of 2024, marking the end of its recession. This growth outperformed analysts’ expectations, signaling a shift in economic momentum. Despite the quarterly growth, overall activity remains below 2023 levels. Argentina’s GDP in the third quarter was 2.1% lower than the same period last year. However, this result is an improvement compared to earlier quarters, which recorded declines of 5.2% in Q1 and 3.4% in Q2. The INDEC national statistics bureau published fresh data on Monday, confirming the positive shift. Between July
India's private sector output grew at its fastest pace in four months, driven by stronger demand in services and manufacturing. Preliminary survey data showed record job growth, helping the economy close 2024 on a high note. The HSBC December flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 60.7, matching August's figure. This marked an increase from November's 58.6. The PMI has stayed above 60 for most of the year, a level of strength not seen since 2008. The 50-point mark separates growth from contraction. Economist In
Indonesia reported a $4.42 billion trade surplus in November, double analysts' forecasts of $2.21 billion. The rise came as exports surged and imports fell below market expectations, according to official data released on Monday. The November surplus marked the largest since March. It followed a slightly revised October surplus of $2.48 billion. Analysts believe this trade data will be a key factor in the central bank's upcoming monetary policy review on Wednesday, where no change to key rates is expected. Exports grew 9.14% year-on-year to $24.01 billion, far ex