India’s foreign exchange reserves dropped by $8.4 billion to $644.39 billion as of December 20, 2024, marking a decline to over a 7-month low. The reserves had reached a record high of $705 billion in the week ending September 27, 2024. Reserves Declined Last Week For the week ending December 13, 2024, India’s foreign exchange …
The textile industry is a crucial part of India’s economic growth, contributing significantly to employment, value addition, and export earnings. With 45 million people working in this sector, it stands as one of India’s largest employers. Traditional areas such as handlooms, handicrafts, and power looms are significant in rural and semi-urban employment, while SMEs play …
With the passing of Manmohan Singh, India mourns the loss of one of its most transformative leaders. As the architect of India’s 1991 economic reforms, Mr Singh’s vision and policies reshaped the Indian economy, moving it from a closed, license-driven economy to one that embraced globalisation and market-driven growth. His initiatives, including liberalisation, privatisation, and …
On Thursday, December 26, 2024, former Prime Minister of India, Manmohan Singh, passed away at the age of 92 after being admitted to the emergency ward at Delhi’s All India Institute of Medical Sciences (AIIMS). He served as Prime Minister for two terms from 2004 to 2014, leading a Congress-led government. Prior to this, he …
Former Prime Minister Dr Manmohan Singh, one of India’s most respected economists, passed away at the age of 92 on December 26 night at AIIMS Delhi. Dr Singh, who started his career in the Indian government as an economic advisor in the Commerce Ministry in 1971, had been unwell for a while. Early Life and …
Union Finance Minister Nirmala Sitharaman held the fourth pre-budget meeting on Thursday in New Delhi, engaging with stakeholders from the export, trade, and industry sectors to gather inputs for the Union Budget 2025-26. The Finance Ministry shared the update via a social media post, highlighting the participation of Minister of State for Finance Pankaj Chaudhary, …
The Reserve Bank of India (RBI) has expressed concerns about the rising delinquency and leverage in unsecured loans, urging enhanced vigilance despite a slowdown in overall credit growth. In its annual report, Trends and Progress of Banking in India 2023-24, the RBI also highlighted the need to closely monitor the relationship between lenders and private …
Indian commercial banks achieved a 6th consecutive year of profit growth in 2023-24, with bad loans continuing to decline, as highlighted in the Reserve Bank of India’s (RBI) annual report, Trends and Progress of Banking in India. Profitability Trends Banks’ profitability improved further, with the return on assets (RoA) reaching 1.4% and the return on …
India’s economy is projected to grow at a rate of 6.5% in FY25 and FY26, according to the EY Economy Watch December 2024 report. Despite headwinds from declining private consumption and investment, achieving this growth will require significant government capital expenditure and a strategic investment roadmap to address the domestic and global challenges. Decline in …
On December 25, 2024, the Employees’ Provident Fund Organisation (EPFO) has released the provisional payroll data for October 2024, showing a net addition of 13.41 lakh members, indicating a growing trend in employment opportunities and an increasing awareness of employee benefits, aided by EPFO’s successful outreach programs. In October 2024, EPFO enrolled approximately 7.50 lakh …
