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<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword> [India], January 29 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): The Indian economy is projected to grow close to 7 per cent in the financial year 2024-25 that starts this April, said the <keyword id="19908390" type="General" weightage="20" keywordseo="ministry-of-finance" source="keywords">Ministry of Finance</keyword> in its monthly review report. The strength of domestic demand has driven the economy to a 7 per cent plus growth rate in the last three years. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy. The robustness seen in domestic demand -- private consumption and investment -- traces its origin to the reforms and measures implemented by the government over the last 10 years, said the report issued by <keyword id="19912839" type="General" weightage="20" keywordseo="department-of-economic-affairs" source="keywords">Department of Economic Affairs</keyword>. "The supply side has also been strengthened with investment in infrastructure - physical and digital - and measures that aim to boost manufacturing. These have combined to provide an impetus to economic activity in the country," the review report noted. "Accordingly, in FY25, real GDP growth will likely be closer to 7 per cent." There is, however, considerable scope for the growth rate to rise well above 7 per cent by 2030, the report added. "The rapidly expanding digital infrastructure is continuously improving institutional efficiency. Technological progress is picking up pace with rising collaboration with foreign partners in the production of goods and services. Decisive steps have been taken to speed up human capital formation. Finally, the overall investment climate is increasingly becoming more favourable with sustained enhancement in the ease of doing business." In the next three years, India is expected to become the third-largest economy in the world, with a GDP of USD 5 trillion, it asserted. India can aspire to become a USD 7 trillion economy in the next six to seven years (by 2030), it said. "This will be a significant milestone in the journey to delivering a quality of life and standard of living that match and exceed the aspirations of the Indian people." Firm GDP growth forecasts, inflation at manageable levels, political stability at the central government level and signs that the central bank is done tightening its monetary policy have all contributed to painting a bright picture for the Indian economy. (ANI)

Indian economy likely to grow 7% next financial year: Ministry of Finance

<ul><li>India is asking <keyword id="6356687" type="General" weightage="50" keywordseo="canada" source="Orion">Canada</keyword> to take action against those facing charges related to terrorism.</li><li>Canadian PM unequivocal about the importance of the rule of law and protecting Canadians.</li><li>Both the countries have fired a diplomat each in a tit-for-tat move.</li></ul> Canada Prime Minister <keyword id="1740494" type="General" weightage="80" keywordseo="justin-trudeau" source="Orion">Justin Trudeau</keyword> on Thursday said that India is a country of growing importance, adding that Canada is not looking to provoke or cause problems and called upon the government of India to work with Ottawa to establish processes to uncover the truth in the murder of Khalistan extremist, <keyword id="7575364" type="General" weightage="40" keywordseo="Hardeep-Singh-Nijjar" source="Orion">Hardeep Singh Nijjar</keyword>. Trudeau's recent statement comes as the diplomatic standoff between India and Canada escalated to a level that the envoys of both countries have been expelled in a tit-for-tat move. He also stressed that Canada is unequivocal about the importance of the rule of law and protecting Canadians as well as standing up for values. "There is no question, India is a country of growing importance and a country that we need to continue to work with not just in a region but around the world and we are not looking to provoke or cause problems but we are unequivocal about the importance of the rule of law and unequivocal about of the importance of protecting Canadians and standing up for values," Trudeau said while addressing a press conference at Canada's Permanent Mission to the United Nations in New York. "That's why, we call upon the government of India to work with us to establish processes to uncover the truth of the matter and to allow justice and accountability to be served," Trudeau added. Trudeau's recent statement comes as the diplomatic standoff between India and Canada escalated to a level that the envoys of both countries have been expelled in a tit-for-tat move. Indian <keyword id="193522" type="General" weightage="20" keywordseo="External-Affairs-Ministry" source="Orion">External Affairs Ministry</keyword> in its response to the allegations by Canada had said, "Yes these allegations were raised by Canadian PM Justin Trudeau with PM (Modi) and PM rejected them." Indian government's stance The MEA said that allegations were raised by Trudeau when he was in India to attend the G20 Summit and that PM Modi had rejected them. MEA spokesperson <keyword id="10953867" type="General" weightage="20" keywordseo="Arindam-Bagchi" source="Orion">Arindam Bagchi</keyword> said that Canada has not shared any specific information regarding the allegations and that India is asking Canada to take action against those facing charges related to terrorism."We are willing to look at any specific information that is provided to us, but so far we have received no specific information from Canada," Bagchi said on Thursday answering queries. "We are willing to look at any specific information that is provided to us, but so far we have received no specific information from Canada," Ministry of External Affairs spokesperson Arindam Bagchi said on Thursday answering queries. Moreover, Canadian Prime Minister Justin Trudeau also took questions about Canada's tensions with India during a press conference. On sharing evidence, Canadian PM Justin Trudeau said, "Canada has a rigorous and independent justice system, that we trust, to follow through the processes, we will ensure that those processes are strictly, abided by and respected." Regarding the safety of Canadians, he said, "I can tell everyone that Canada is a safe country. We always take Canadians' safety seriously, whether they are at home or abroad." "Canada has a rigorous and independent justice system, that we trust, to follow through the processes, we will ensure that those processes are strictly, abided by and respected. In terms of safety in Canada and the safety of Canadians, we always take the safety of Canadians extremely seriously, whether at home or overseas, I can assure everyone that Canada is a safe country," Trudeau said, while adding, "I continue to call, for calm, and for Canadians to remain true to who we are, open, respectful, grounded in, respect and trust in our institutions and, our law enforcement and justice systems." Speaking further, the Canadian PM repeated his allegations over the killing of the Khalistani leader and stated, "I think it's extremely important that as a country with a strong and independent justice system. We allow those justice processes to unfold themselves with the utmost integrity. But I can assure you, the decision to share these allegations on the floor of the House of Commons was not made lightly. It was done with utmost seriousness..." Nijjar, the chief of Khalistan Tiger Force (KTF) - a Sikh extremist organisation banned by India and a "designated terrorist" was killed in a targeted shooting at British Columbia in Canada's Surrey in June 2018. India, however, rejected the allegations by the Trudeau administration, terming them "absurd" and "motivated". "We have seen and reject the statement of the Canadian Prime Minister in their Parliament, as also the statement by their Foreign Minister," the Ministry of External Affairs (MEA) said in a statement. "Allegations of Government of India's involvement in any act of violence in Canada are absurd and motivated," the MEA added in its statement. "Similar allegations were made by the Canadian Prime Minister to our Prime Minister and were completely rejected. We are a democratic polity with a strong commitment to the rule of law," it added. Diplomatic action India on Tuesday expelled a senior Canadian diplomat in a reciprocal move to Canada expelling a senior Indian diplomat in light of the claim of New Delhi's involvement in the killing of the wanted separatist leader. The MEA said that the Canadian diplomat was asked to leave India within the next five days. "The High Commissioner of Canada to India was summoned today and informed about the decision of the Government of India to expel a senior Canadian diplomat based in India," the MEA stated. "The concerned diplomat has been asked to leave India within the next five days. The decision reflects the Government of India's growing concern at the interference of Canadian diplomats in our internal matters and their involvement in anti-India activities," it added. (With text input from ANI)

India-Canada tension: Trudeau says not looking to provoke; MEA says no specific information shared

Prime Minister Narendra Modi's "short but a very productive visit" to Jakarta, where he participated in the <keyword id="1493716" type="General" weightage="20" keywordseo="ASEAN-India-Summit" source="Orion">ASEAN-India Summit</keyword> and the East Asia Summit, has concluded on Thursday, said Secretary (East), <keyword id="6374106" type="General" weightage="50" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (MEA), <keyword id="331724" type="General" weightage="50" keywordseo="saurabh-kumar" source="Orion">Saurabh Kumar</keyword>. "Prime Minister's participation in this summit will give India-ASEAN relations a strategic direction," said Secretary Kumar. In a short video message posted on X, by MEA spokesperson <keyword id="10953867" type="General" weightage="50" keywordseo="arindam-bagchi" source="Orion">Arindam Bagchi</keyword>, Kumar summarised the key takeaways of <keyword id="2238662" type="General" weightage="100" keywordseo="pm-modi" source="Orion">PM Modi</keyword>'s Jakarta visit. He said that PM Modi highlighted the "need to amplify the voice of the Global South, including in the G20". The <keyword id="5891" type="General" weightage="80" keywordseo="asean" source="Orion">ASEAN</keyword> leaders welcomed PM Modi's leadership in the G20 and wished him success and also congratulated India for the successful Chandrayaan-3 mission. "Prime Minister had comprehensive discussions, including in areas such as connectivity, maritime cooperation, digital transformation, trade and economy, environment, health and traditional medicines. In each of these, the Prime Minister made specific proposals, which has already been put out in the form of a twelve-point proposal," said Kumar. He added, "Two joint statements were issued between India and ASEAN. These relate to maritime cooperation and food security. In maritime cooperation, areas such as safety and security of the maritime area, maritime domain awareness, disaster management, blue economy, et cetera, have been covered." Prime Minister also announced the formation of an ASEAN India Fund for Digital Future, which would provide financial connectivity between ASEAN and India, said Kumar, adding, "Prime Minister also announced support for ERIA (Economic Research Institute for ASEAN and East Asia), which is an ASEAN think tank, which would be our knowledge partner to further deepen ASEAN-India relations." He also said that the Prime Minister, during his interactions and discussions, "called for a free, open and rules-based Indo-Pacific, emphasised ASEAN centrality and made the point that cod complements the same". Following his participation in the summits, PM Modi thanked Indonesian President, Joko Widodo, and the people. "Had a very short but fruitful Indonesia visit, where I met ASEAN and other leaders. I thank President @jokowi , the Indonesian Government and people for their welcome," wrote PM Modi on X. PM Modi, who is in Jakarta, will return to New Delhi on Thursday evening ahead of the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 Summit</keyword>, which will be held on September 9 and 10. ALSO READ: <a href="https://www.businessinsider.in/india/news/g20-check-out-the-full-list-of-restricted-roads-in-delhi-during-summit/articleshow/103436759.cms" data-type="tilCustomLink" target="_blank">Delhiites, here are all the traffic restrictions as a result of the G20 summit</a>

ASEAN-India Summit: PM Modi highlights need to amplify voice of Global South during Jakarta visit

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