Addressing a national workshop in New Delhi on leveraging free trade agreements, commerce minister Piyush Goyal said India's nine FTAs currently cover economies representing about $60 trillion in GDP and provide preferential access to nearly two-thirds of global trade.
Neelkanth Mishra of the World Bank defended India's 7.8% GDP growth, asserting that claims questioning its accuracy are incorrect.
Opposition parties and some experts have questioned the government's latest GDP data. Mint examines the allegations and whether there is any merit to the concerns.
A methodological shift and routine revisions to India's GDP data have caused confusion over official statistics and critics' claims, even as headline growth struggles to lift living standards.
The Congress party cited criticism by former finance secretary Subhash Chandra Garg on GDP numbers to attack the government, saying it must understand that ‘PR can polish the picture’ of GDP but not the economy itself.
Services activity accelerated in August, but weak new-business growth and intense competition kept the sector’s expansion near its weakest level in more than four years, even as hiring hit a 15-month high.
In July 2019, Garg took voluntary retirement from service, a day after he was moved to the Power Ministry in a broader reshuffle just three weeks after the presentation of the Union Budget. Garg's scheduled retirement was in October 2020.
The government issues a detailed clarification in a question-and-answer format, refuting allegations of artificially pushing up the real growth rate for the June quarter to 7.8% and the nominal expansion rate to 10.3%.
This influx, driven by attractive interest rates of 6-7.5% and significant leverage incentives for non-resident Indians, occurred through the Reserve Bank of India’s concessional swap facility
A section of the stakeholders is worried, with global prices surging to a 3-year high on Black Sea disruption, lower output this year
Record production, comfortable stocks, competitive prices and the gradual reopening of exports give India a strong base to become a reliable global wheat supplier, the paper says
Telangana Kisan Congress President S Anvesh Reddy, CPI leader Chada Venkata Reddy, and Telangana Jana Samithi leader Kodandaram were among the leaders who signed the statement
ISMA and NFCSF jointly reassure that domestic sugar availability remains sound, while dismissing any claims of a structural domestic deficit
Union Bank of India to facilitate retail loan facilities for customers purchasing VST Tillers’ products, including tractors, power tillers, power reapers and power weeders
Karandikar also stresses on developing nuclear workforce to meet 100 GW capacity by 2047
Three-day visit to focus on boosting $13-billion trade relationship, expanding defence cooperation and building on new Strategic Dialogue with Brussels
India, US working to build ‘fair, reciprocal’ trade ties; critical technology cooperation also in focus
India’s e-commerce sector to grow at CAGR of 18.4% through 2030, report estimates
High-level delegation may visit China next week; market access, trade deficit and investment curbs on agenda
In high-frequency shopping trips categories, consumers opting for bigger formats, premium options
