Washington, April 14 (IANS) India’s growth outlook remains resilient despite rising global uncertainty triggered by the Middle East conflict, the Chief Economist of the International Monetary Fund (IMF) Pierre-Olivier Gourinchas said Tuesday projecting a steady expansion even as inflation edges higher.In a group interview with reporters from India, Japan, the UAE, the Netherlands and Chile, Gourinchas said, “India has been doing very, very well in 2025,” noting that growth is now estimated…
Latest Economy News & Updates
New Delhi, April 10 (IANS) India’s digital payment system Unified Payments Interface (UPI) is set to mark its 10th anniversary on April 11, after growing 12,000-fold in volume and over 4,000 times in terms of value.The payment system scaled from 17.86 million transactions worth Rs 6,952 crore in FY17 to 218.98 billion transactions amounting to nearly Rs 285 lakh crore in FY26, data from analytics firm Tracxn showed.Transactions rose gradually in the initial years — to 915 million in FY18 and…
New Delhi, April 9 (IANS) Federal Chancellor of Austria, Christian Stocker will pay an official visit to India from April 14–17, the Ministry of External Affairs (MEA) announced on Thursday.Arriving in India on his first visit – also his first official visit to Asia – at the invitation of Prime Minister Narendra Modi, Chancellor Stocker will be accompanied by a high-level delegation comprising Federal Minister of Economy, Energy and Tourism Wolfgang Hattmannsdorfer, senior officials and busine…
Bhubaneswar, April 8 (IANS) Odisha Chief Minister Mohan Charan Majhi has said that the state budget is not merely a statement of income and expenditure, but a strong roadmap for the state’s overall development and the realisation of each citizen’s dreams. While inaugurating a state-level budget awareness drive, “Ama Janiba, Ama Budget” on Tuesday, Chief Minister Majhi added that in compliance with the nation’s vision, the state government has set the targets to be achieved by 2047.The targets in…
New Delhi, April 7 (IANS) Debt-ridden Pakistan is facing a grim financial situation as it has to repay $3.5 billion to the United Arab Emirates this month. The repayment, confirmed by a senior cabinet minister during a press briefing, as reported by Pakistan’s Express Tribune, comes at a time when Islamabad’s foreign exchange reserves have fallen to abysmally low levels, raising concerns about the country’s capacity to fulfil its external debt obligations.This financial burden has been int…
New Delhi, April 6 (IANS) Pakistan’s decision to raise petrol prices to Rs 458.40 per litre, with a petroleum levy of Rs 161 per litre, risks “a structural shock on an already fragile economy,” a new report has said.The report from Business Recorder said that the hike necessary under the constraints of the IMF programme will pass through supply chains, inflating input costs, compressing margins, and ultimately dampening output.The hike also aims to mobilise revenue after the administration mis…
New Delhi, April 6 (IANS) Pakistan’s total public debt rose from Rs 71 trillion to Rs 80.5 trillion in 360 days, a government fiscal summary shows — a Rs 9 trillion increase across a period the government has described as one of economic stabilisation — a new report has said.According to a report published in The News International, the increase translates to Rs 26 billion borrowed every day, including 19 gazetted public holidays.Hourly, the government incurs Rs 1.08 billion in new debt. Moreo…
New Delhi, April 5 (IANS) The ongoing war in Iran is creating real economic pressures in Bangladesh, affecting fuel, fertiliser, freight, and foreign exchange, a report has said. While the country is geographically distant from the conflict, its highly connected economy is feeling the impact quickly, as per The Daily Star report.The main channel of this disruption is the Strait of Hormuz, through which about one-fifth of the world’s oil and LNG normally move.Any interruption in this route affe…
New Delhi, April 5 (IANS) Pakistan’s sharp increase in domestic petrol and diesel prices is being seen as an unavoidable response to rising global oil costs triggered by the ongoing US-Israel conflict with Iran, even as the move is expected to intensify inflationary pressures across the economy, a report has said.The Pakistan government recently raised petrol prices steeply before rolling back Rs 80 within 24 hours, after an earlier increase of Rs 137 had pushed rates to Rs 458 per litre, acco…
Islamabad, April 5 (IANS) Traders in Pakistan have warned the government of a nationwide protest if the hike in petroleum prices is not withdrawn, while also calling for an end to the ongoing crackdown on bakers (naanbai), local media reported on Sunday. While addressing a press conference at the National Press Club, All Pakistan Anjuman-i-Tajran President Ajmal Baloch stated traders cannot be called “thieves and robbers”, stressing that the business community was the backbone of Pakistan’s econ…