Finance minister of india 2023

(NOTE: The article was published in the INDIA TODAY edition dated June 12, 2023) Storms tend to have names these days. After a bit of wavering, this one was named, simply, Covid. A monster that switched off headlights all over the world, the Modi government wasn’t even a year into term two when it struck. The health emergency was so acute and all-pervasive that it became, inevitably, the defining economic event of Modi 2.0. The lockdowns shuttered all activity but for those to do with bare existence. The economy plunged into negative growth for two straight quarters in 2020: sector after sector asphyxiated. It was a complex riddle. How to ease the immediate misery? And craft policies to cure India of ‘economic long Covid’? Such doom and gloom—an inertia of negative momentum—had every chance of lingering. Could one try rebounding to a better place than status quo ante? The economy, after all, had been sluggish for many pre-Covid quarters. The Opposition and some economists pressed the Centre to loosen its purse-strings and offer cash relief to citizens, as the US and Europe were doing. Amid massive loss of life and livelihoods, it seemed the self-evident thing to do. But the Modi government went against the tide and chose instead to announce, in May 2020, the Aatmanirbhar Bharat Abhiyan—encouraging the citizenry to move towards self-reliance. Was that landscape of misery the right time and place to try and awaken the animal spirits of the nation? You could argue back and fo...

NEW DELHI, June 12 (Reuters) - The Indian finance ministry officials will meet credit rating agency Moody's Investors Service on June 16 and pitch for a sovereign rating upgrade, two government sources told Reuters. The meeting will see participation from all government departments managing the economy, said the first source. The finance ministry did not immediately reply to a Reuters mail seeking comments before office hours. Moody's rates India at the lowest investment grade of "Baa3" with a "stable" outlook.

• Adani Enterp. 2484.80 ↑ 33.65 (1.37%) • Adani Ports 742.10 ↑ 7.15 (0.97%) • Apollo Hospitals 4924.75 ↓ -1.95 (-0.04%) • Asian Paints 3194.75 ↑ 14.20 (0.45%) • Axis Bank 974.20 ↓ -0.55 (-0.06%) • B P C L 371.65 ↑ 12.20 (3.39%) • Bajaj Auto 4769.65 ↑ 26.25 (0.55%) • Bajaj Finance 7097.70 ↑ 60.55 (0.86%) • Bajaj Finserv 1466.00 ↓ -0.50 (-0.03%) • Bharti Airtel 836.35 ↑ 2.85 (0.34%) • Britannia Inds. 4900.25 ↑ 21.50 (0.44%) • Cipla 959.95 ↓ -9.30 (-0.96%) • Coal India 229.00 ↑ 1.35 (0.59%) • Divi's Lab. 3438.45 ↑ 9.70 (0.28%) • Dr Reddy's Labs 4675.65 ↑ 8.85 (0.19%) • Eicher Motors 3590.60 ↑ 9.30 (0.26%) • Grasim Inds 1731.40 ↑ 15.65 (0.91%) • H D F C 2640.80 ↓ -12.10 (-0.46%) • HCL Technologies 1139.65 ↑ 29.90 (2.69%) • HDFC Bank 1600.80 ↓ -9.80 (-0.61%) • HDFC Life Insur. 584.40 ↑ 2.70 (0.46%) • Hero Motocorp 2930.40 ↑ 31.10 (1.07%) • Hind. Unilever 2643.45 ↑ 7.25 (0.28%) • Hindalco Inds. 416.80 ↑ 1.75 (0.42%) • ICICI Bank 935.95 ↓ -2.10 (-0.22%) • IndusInd Bank 1332.45 ↑ 1.40 (0.11%) • Infosys 1291.95 ↑ 26.00 (2.05%) • ITC 436.95 ↓ -1.50 (-0.34%) • JSW Steel 747.30 ↓ -1.20 (-0.16%) • Kotak Mah. Bank 1879.45 ↑ 7.45 (0.40%) • Larsen & Toubro 2339.95 ↓ -23.05 (-0.98%) • M & M 1381.40 ↑ 10.75 (0.78%) • Maruti Suzuki 9550.45 ↓ -77.35 (-0.80%) • Nestle India 22289.35 ↑ 215.90 (0.98%) • NTPC 185.70 ↑ 2.90 (1.59%) • O N G C 155.05 ↑ 0.80 (0.52%) • Power Grid Corpn 241.65 ↓ -3.25 (-1.33%) • Reliance Industr 2484.15 ↑ 2.20 (0.09%) • SBI Life Insuran 1238.90 ↑ 6.50 (0.53%) • St Bk o...

• India's gross domestic product has touched the $3.75 trillion-mark in 2023, up from around $2 trillion in 2014 • The Finance Ministry further stated that India is the fifth largest economy in the world • India's GDP stood at $3,737 billion in current price terms, lower than the USA ($26,854), China ($19,374 billion), and Germany ($4,309 billion) India's gross domestic product (GDP) has touched the $3.75 trillion-mark in 2023, up from around $2 trillion in 2014. The development was confirmed by Union Finance Minister Nirmala Sitharaman's office in a now-deleted tweet. The Finance Ministry further stated that India is the fifth largest economy in the world. India's GDP stood at $3,737 billion in current price terms, lower than the USA ($26,854), China ($19,374 billion), and Germany ($4,309 billion). India's GDP at current prices ranks above the UK ($3,159 billion), France ($2,924 billion), Canada ($2,089 billion), Russia ($1,840 billion), and Australia ($1,550 billion) at current prices. The now-deleted tweet read: "India's GDP has reached $3.75 trillion in 2023, from around $2 trillion in 2014; moving from 10th largest to 5th largest economy in the world. India is now being called a Bright Spot in the global economy." Meanwhile, ratings agency Moody’s on Sunday forecasted Indian economy to grow at 6 per cent to 6.3 per cent in the June quarter. Moody’s prediction is much lower than the 8 per cent growth predicted by the Reserve Bank of India (RBI) last week. Moody’s Inves...

Finance Minister Nirmala Sitharaman on Monday said India is a “bright spot" in the global economy, and added that the country’s Sitharaman also said the “ India’s GDP (at market prices) has reached $3.75 trillion in 2023, from around $2 trillion in 2014; moving from 10th largest to 5th largest economy in the world. India is now being called a Bright Spot in the global economy. India’s GDP has reached $3.75 trillion in 2023, from around $2 trillion in 2014; moving from 10th largest to 5th largest economy in the world.India is now being called a Bright Spot in the global economy. According to the latest National Statistics Office’s (NSO) data released recently, India’s GDP at factor cost (real GDP) grew 6.1 per cent in the fourth quarter of fiscal year 2022-23. For the entire FY23, the growth rate came in at 7.2 per cent, which was stronger than expected. Last week, RBI Governor Shaktikanta Das said the Indian economy and the financial sector are resilient, and the Q4 GDP growth was aided by fixed investment and higher exports. He also said the real GDP growth for 2023-24 is projected at 6.5 per cent, which is the same as earlier. On the FY2023-24 prospects, the RBI governor said domestic demand conditions remain supportive of growth on the back of improving household consumption and investment activity. “Domestic economic activity remains resilient in Q1:2023-24 as reflected in high-frequency indicators. Purchasing managers’ indices (PMI) for manufacturing and services indi...

By India Today Web Desk: Finance Minister Nirmala Sitharaman is all set to present the Economic Survey 2022-23 on Tuesday in the Parliament, after President Droupadi Murmu’s address to the joint sitting of the Lok Sabha and the Rajya Sabha on Tuesday. The survey is presented just a day ahead of the budget every year. This year, the survey was prepared by the Economic Division of the finance ministry’s Department of Economic Affairs under the supervision of the Chief Economic Advisor V Anantha Nageswaran. What is the Economic Survey? The Economic Survey is the government's review of how the economy performed in the past year. It is an important document that will provide insights into various aspects of the economy during FY23. It also provides a detailed outlook for the next financial year. The Economist Survey also sets the stage for announcements that can be expected in the budget. While the focus of the Economic Survey for the previous two years was on tackling Covid-related economic hurdles, this year it is expected to focus on the impact of global growth instability, geopolitical tensions and rising inflation. It will also focus on the challenges that India could face in FY24 amid growing fears of a global recession, besides noting steps that the government can take to keep India’s economy shielded. The Economic Survey is likely to peg GDP growth at 6-6.8 per cent for FY24, according to a source quoted in a Reuters report. It is also likely to say that growth is seen ...