New Delhi, May 1 (IANS) Vishvajit Sahay, a 1990 batch officer of the Indian Defence Accounts Service (IDAS), assumed the charge as Secretary (Defence Finance) in the Ministry of Defence, an official statement said on Friday.Prior to this appointment, he served as the Controller General of Defence Accounts (CGDA).An alumnus of St. Stephen’s College, University of Delhi and a law graduate, Sahay brings over three decades of extensive experience in Defence Finance and Public Administration. Accor…
Latest GDP News & Updates
New Delhi, April 30 (IANS) India is likely to see an incremental cumulative capex of $800 billion over the next five years across defence, data centres and energy transition due to the Middle East conflict and its investment‑rate will touch 37.5 per cent of GDP in FY2030, a report said on Wednesday.The report from Morgan Stanley said about 60 per cent of the incremental capex is likely to be allocated to energy transition, data centres and defence.”In this context, we remain constructive on In…
New Delhi, April 28 (IANS) As India works towards transforming from a $3.7 trillion economy to a $30–35 trillion economy by 2047, manufacturing is expected to play a central role, with its share in GDP rising to at least 25 per cent from the current level of 16 to 17 per cent, an official fact-sheet said on Tuesday. In this context, India’s manufacturing strategy has increasingly focused on the development of integrated manufacturing hubs, spatial ecosystems that combine physical infrastruct…
New Delhi, April 26 (IANS) Pakistan’s fragile economic footing has come into sharp focus amid shifting geopolitical and financial dynamics, even as Islamabad projects itself as a voice for peace on the global stage, a report has said.During heightened tensions linked to the US-Israel conflict with Iran, Pakistan drew international attention for its diplomatic outreach. However, behind this image of stability, a sudden financial strain exposed the country’s dependence on external support, acc…
New Delhi, April 24 (IANS) Ministry of Statistics and Programme Implementation (MoSPI) proposed an initiative to publish dedicated city‑level statistical reports for the country’s 47 million‑plus cities, to provide more granular data for urban policy and planning, an official statement said on Friday.The ministry said that 47 million‑plus cities will be identified as per Population Census 2011, and the reports will use existing data from the Periodic Labour Force Survey (PLFS) and the An…
New Delhi, April 24 (IANS) Both cash and digital are indispensable for India and complement each other but there is a marginal substitutability, as a household may use UPI for many retail small payments but still keep cash at home for emergencies or informal transactions, a new SBI Research report said on Friday.Notably, India has launched Central Bank Digital Currency (CBDC) but the e-Rupee circulation is at a very small amount of Rs 1,016 crore till March 2025, and there is a need for further …
Washington, April 23 (IANS) The India–US relationship is undergoing strain but remains fundamentally strong, shaped by shared strategic interests and long-term convergence, former US Ambassador to India Kenneth Juster told the think tank community here.Speaking at the Hudson Institute’s “New India Conference”, Juster traced the evolution of India’s foreign policy and its growing alignment with Washington, particularly in response to China’s rise.“India remains committed to the prin…
New Delhi, April 22 (IANS) India’s economy has developed strong resilience to high energy prices and is capable of sustaining growth above 7 per cent even if crude oil costs remain in the range of $90–100 per barrel, Assocham said on Wednesday.The industry body noted that over the past two and a half decades, India has successfully absorbed multiple oil price shocks without derailing its growth trajectory.Data analysed for the period from 2000-01 to 2025-26 shows that some of India’s stron…
United Nations, April 21 (IANS) Weathering the fallout of the Iran war-induced energy crisis, India will remain the fastest-growing large economy in the Asia Pacific region at 6.4 per cent during the current fiscal year, according to ESCAP, the UN agency for the region’s economy.The report released here on Monday by the Economic and Social Commission for Asia and the Pacific, better known by the acronym ESCAP, said India’s real gross domestic product (GDP) growth moderated from 7.4 per cent …
Washington, April 20 (IANS) Asia’s growth remains resilient, but a surge in oil and gas prices driven by the Middle East conflict is raising risks for inflation and external balances, the International Monetary Fund (IMF) said.“Asia entered 2026 on a solid footing with growth remaining resilient despite the region bearing the brunt of US tariffs and heightened uncertainty,” Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department, said at a press briefing during the Spring M…