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India is poised to remain the fastest-growing major economy in 2024-25, Chief Economic Adviser V Anantha Nageswaran said in a press conference after the tabling of the <keyword id="20613906" type="General" weightage="20" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> in the Parliament on Monday. The Economic Survey tabled today projected India to grow at 6.5-7.0 per cent in 2024-25. Global institutions, including <keyword id="19896779" type="General" weightage="20" keywordseo="IMF" source="keywords" meta.keywordsubtype="org" meta.entityname="IMF" meta.hostid="261" meta.entityid="IMF">IMF</keyword>, OECD, World Bank, S&amp;P, ADB, and Fitch, have projected India to grow in a range of 6.6-7.2 per cent. The International Monetary Fund (IMF), in its latest outlook, has raised India's growth projections for 2024 from 6.8 per cent earlier to 7 per cent, with the country maintaining the fastest-growing status in emerging markets and developing economies. According to official data of the Indian government, the country's GDP grew at an impressive 8.2 per cent during the financial year 2023-24. India's economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22 respectively. Further, the CEA in his press conference projected that India's <keyword id="20089672" type="General" weightage="20" keywordseo="per-capita-income" source="keywords">per capita income</keyword> is expected to increase from around Rs 2 lakh in 2022-23 to Rs 14.9 lakh in 2046-47. Further, CEA said <keyword id="20751315" type="General" weightage="20" keywordseo="household-savings" source="keywords">household savings</keyword> of Indians in physical assets have been increasing over the past three financial years through 2023-24. The CEA, addressing the press conference, said household savings in physical assets rose from 8 per cent in 2020-21 to 12.9 per cent in 2022-23. "Households are not in distress, they are investing in <keyword id="20792385" type="General" weightage="20" keywordseo="financial-assets" source="keywords">financial assets</keyword> that have done very well. Financial assets of households are not marked to market so households are doing quite well in the aggregate," he said. India needs both banks and capital markets to provide the required finances sourced from a sustained high level of household savings, according to the Survey. <keyword id="20385790" type="General" weightage="20" keywordseo="Union-Finance-Minister" source="keywords">Union Finance Minister</keyword> Nirmala Sitharaman on Monday tabled the economic survey in Parliament, a day ahead of the full Budget presentation for 2024-25. The Economic Survey document, prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser, gives insights into the state of the economy and various indicators of 2023-24 (April-March) and some outlook for the current year. The Economy Survey document also gave some idea about the tone and texture of the actual Budget for 2024-25, to be presented on Tuesday. (ANI)

India to remain fastest growing major economy in 2024-25, says CEA Nageswaran

New Delhi [<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>], February 28 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): The State Bank of India's Economic Research Department has released its analysis projecting the GDP growth for the third quarter of the financial year 2023-24. According to their report, the GDP growth is likely to be at 6.8 per cent, based on an unchanged base, but could potentially hit 7 per cent due to expected downward revisions in the estimates for Q3 FY23. As per a report by <keyword id="20407500" type="General" weightage="20" keywordseo="soumya-kanti-ghosh" source="keywords">Soumya Kanti Ghosh</keyword>, Group Chief Economic Adviser, SBI, the global economic landscape, as outlined in the report, presents a mixed picture with several significant developments impacting the trajectory. The International Monetary Fund (IMF) has upgraded its global growth forecast to 3.1 per cent in 2024 and 3.2 per cent in 2025, indicating a brighter outlook. However, challenges persist, with countries like the UK and Japan slipping into recession, alongside concerns over the German economy. Additionally, China's marked slowdown, driven by deflationary concerns and declining industrial profits, adds further complexity to the global scenario. In contrast, India's domestic economic indicators show signs of resilience and optimism. Consumer confidence has strengthened, supported by positive sentiments regarding the economic situation and employment conditions. Various enterprise surveys also reflect strong business optimism. The Composite Leading Indicator (CLI) Index, comprising 41 leading indicators across sectors, suggests a slight moderation in economic activity in Q3 FY24. Based on this data, the SBI Economic Research Department estimates GDP growth in the range of 6.7-6.9 per cent, with a Gross Value Added (GVA) growth of 6.6 per cent. Corporate India continues to exhibit robust performance, driven by accelerating consumption patterns across urban and rural areas. Corporate results for Q3FY24 indicate significant growth in <keyword id="20140796" type="General" weightage="20" keywordseo="ebidta" source="keywords">EBIDTA</keyword> and PAT (Profit After Tax), with a notable improvement in margins. Corporate GVA, measured by EBIDTA plus employee expenses, recorded strong growth compared to the previous year. The agricultural sector, however, faces some challenges, with a decline in the estimated production of major Kharif crops for 2023-24 compared to FY23. While the sowing season for Rabi crops suggests a slight increase in overall acreage, concerns arise over the decline in the sown area under cereals. Despite these challenges, the inland fish production has shown rapid growth, reaching 131.13 lakh tonnes in 2022-23. The fisheries sector's contribution to the national GVA and agricultural GVA indicates potential support for the Agri &amp; Allied sector's growth in FY24. (ANI)

SBI Eco Research forecasts Q3 FY24 GDP growth at 6.8% amid global complexities

India is facing a "Great Slowdown" with its economy headed for intensive care unit primarily due to a "second wave" of the twin balance sheet crisis at banks, <keyword id="8462612" type="UNKNOWN" weightage="20" keywordseo="former-Chief-Economic-Adviser-Arvind-Subramanian">former Chief Economic Adviser Arvind Subramanian</keyword> has said. Subramanian, who was Modi government's first chief economic adviser but quit in August last year, in new paper co-authored with the former head of the International Monetary Fund's India office Josh Felman said India is facing a "Four Balance Sheet" challenge -- comprising banks, infrastructure, plus NBFCs and real estate companies -- and is trapped in an adverse interest growth dynamic. "Clearly, this is not an ordinary slowdown. It is India's Great Slowdown, where the economy seems headed for the intensive care unit," he wrote in a draft working paper of the <keyword id="97117" type="COMPANY" weightage="20" keywordseo="Harvard-University">Harvard University</keyword>'s Centre for International Development. Subramanian had flagged the twin balance sheet (TBS) problem - debt accumulated by private corporates becoming non-performing assets (NPA) of banks - back in December 2014, while he was CEA to the <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> government. In his new paper, he has made a distinction between the original TBS and "TBS-2".
 TBS-1 was about bank loans made to steel, power, and infrastructure sector companies during the investment boom of 2004-11 turning bad. TBS-2 is largely a post-demonetization phenomenon, involving non-banking financial companies (NBFCs) and real estate firms.
 "Since the Global Financial Crisis, India's long-term growth has slowed as the two engines propelling rapid growth -- investment and exports -- sputtered. Today, the other engine -- consumption -- has also stalled. As a result, growth has plummeted precipitously over the past few quarters," he wrote.
 India's GDP growth in the July-September quarter slowed to a six-year low of 4.5 per cent. This was the sixth consecutive quarter when the growth rate had fallen.
 "Indeed, the economy seems locked in a downward spiral," he said. "Best capturing this stark reality is the astonishingly high interest-growth differential. The corporate cost of borrowing now exceeds the GDP growth rate by more than 4 percentage points, meaning that interest on the debt is accumulating far faster than the revenues that companies are generating."
 This, he said, has caused "a resurgence in the amount of stressed debt, a second wave of the Balance Sheet Crisis".
 If this process is left unchecked, the economy will continue to spiral downward, as stress reduces growth, which then intensifies the stress, he said.
 "Clearly, action must be taken to stabilize the economy and get it back on the path of rapid growth," he said. "But in the current circumstances, the standard macroeconomic tools are not very useful. There are actions that the government cannot do (further significant fiscal stimulus); must not do (reducing personal income tax rates or raising GST rates); can do with only limited effectiveness (easing monetary policy)."
 According to Subramanian, first major action -- almost a pre-condition for righting the economy -- could be a Data Big Bang, which instill confidence and produce a reliable basis for policy making.
 "This must comprise the publication of unreleased reports together with a strategy for improving official statistics in at least three areas: the real sector (GDP, consumption, and employment), fiscal accounts, and stressed assets in the banking system," he said.
 Next, a new asset quality review to cover banks and NBFCs must be conducted. Also changes to the Insolvency and Bankruptcy Code (IBC) be made to ensure that participants actually have incentives to solve the problem.
 He also advocated the creation of two executive-led public sector asset restructuring companies (bad banks), one each for the real estate and power sectors, while at the same time strengthening oversight, especially of NBFCs. Recapitalization of banks should be linked to resolution and reforms such as shrinking public sector banking should be undertaken.
 "There is, of course, a reason why these policies have not been implemented before. They are politically difficult and other, easier alternatives have seemed more attractive. But, the government currently has a tremendous amount of political capital. And by now all the alternatives have been tried and found wanting. So, finally, after a long and difficult decade, the government has both the opportunity and the clear need to resolve the Four Balance Sheet (FBS) problem," he said.
 Dwelling into the current problem facing the economy, he said, after demonetization, considerable amounts of cash made their way to banks, who on-lent a major part of that to NBFCs. The NBFCs, in turn, channelled this money to the real estate sector. By 2017-18, NBFCs were accounting for roughly half of the estimated Rs 5 lakh crore of outstanding real estate loans.
 The collapse of IL&amp;FS in September 2018 was a "seismic event" not only because of the Rs 90,000 crore-plus debts of the infrastructure-cum-lending behemoth, but also its "prompting markets to wake up and reassess the entire NBFC sector," he said.
 What the markets discovered was profoundly disturbing. A lot of NBFC lending in the recent period was concentrated in one particular industry -- real estate -- which itself was in a precarious situation.
 The current slowdown, the paper says, is worrisome not just because GDP growth has slowed down to 4.5 per cent in the second quarter of 2019-20. Even more distressing is the disaggregated data.
 "The growth of consumer goods production has virtually ground to a halt; production of investment goods is falling. Indicators of exports, imports, and government revenues are all close to negative territory," it said. "These indicators suggest the economy's illness is severe, unusually so. In fact, if one compares the indicators for the first seven months of this year with two previous episodes, the current slowdown seems closer to the 1991 slowdown than the 2000-02 recession."
 Electricity generation figures suggest an even grimmer diagnosis: growth is feeble, worse than it was in 1991 or indeed at any other point in the past three decades, it added. ANZ ANZ BAL
BAL

India facing 'Great Slowdown', economy headed to ICU: Modi govt's 1st CEA Subramanian

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s software export revenue and remittances act as a strong counter-cyclical buffer against the increase in current account deficit (<keyword id="52599" type="General" weightage="80" keywordseo="cad" source="Orion">CAD</keyword>) due to a hike in global oil prices and rupee depreciation, said the State Bank of India's (SBI) Chief Economic Adviser. In a research report Dr <keyword id="6448502" type="General" weightage="50" keywordseo="soumya-kanti-ghosh" source="Orion">Soumya Kanti Ghosh</keyword>, Group Chief Economic Adviser, SBI, said for every rupee depreciation, software exports increase by $250 million. <keyword id="4757" type="General" weightage="80" keywordseo="ghosh" source="Orion">Ghosh</keyword> said contrary to the expectations, the Q1FY23 Balance of Payments (BOP) numbers have shown a strong counter-cyclical buffer in the form of service exports and remittances. For example, in Q1, India's CAD was expected to reach $30 billion/3.8 per cent of gross domestic product (GDP), but the actual numbers came in at 2.8 per cent of GDP. The positive surprise was because of strong remittances and software exports, the CAD got a lift of 60 basis points, Ghosh said. "We expect that if such trends of strong remittances and software exports have continued (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> data suggests software exports in Q2 were strong) in Q2, and India's CAD comes in below the threshold level of 3.5 per cent of GDP in Q2, the CAD for FY23 could still be closer to 3 per cent benchmark and not in excess of 3.5 per cent of GDP," he added. Also, forex reserves could jump by another $5 billion as swap transactions reverse and thus have a positive impact on the rupee as is being currently witnessed, he noted. To understand the factors that are impacting India's CAD, Ghosh worked on the structural vector auto-regressions (SVAR) model. With oil forming 30 per cent of India's import bill, it has a major impact on macroeconomic variables. An increase in oil import price impacts directly the trade deficit and consequently, CAD gets widened. That apart, it also results in inflation. According to Ghosh, the SVAR model introduces a counter-cyclical response to increased oil prices in the form of software service exports that is impacted positively because of rupee depreciation. "Although remittances are positively impacted, we have not considered them in our SVAR model because of data volatility." The results of the SVAR model clearly give an idea of the negative impact of oil price shock on CAD, inflation and growth in one direction and the positive impact of software exports on CAD as a result of rupee depreciation. In particular, a positive shock to oil prices leads to an immediate and sharp increase in CAD, which dissipates completely in about eight quarters. The trade deficit also increases up to two quarters after the initial positive oil price shock, he said. "This implies that India's trade deficit may already have been adversely impacted for the first half of the current fiscal because of the oil price shock," Ghosh said. In the case of GDP, a positive shock to oil prices leads to an immediate decline, which however starts reversing after the third quarter and completely dissipates after the seventh quarter. "This implies that India's first-half GDP growth in FY23 could have been impacted because of the oil price shock. Most interestingly, the rupee-dollar exchange rate also gets impacted and it depreciates slightly after an increase in oil prices till three quarters following which it starts appreciating," he said. As a result, the rupee outlook is likely to improve in Q4 of FY23. The impact of oil price on consumer price index (CPI) inflation will dissipate after four quarters and it means that the CPI inflation outlook for FY24 will be consistent with RBI's forecast of 5 per cent. Ghosh said India's software exports are on the rise with the share of the offsite mode of exports by Indian IT service companies increasing to 88.8 per cent in FY22 compared to 82.8 per cent five years ago. Ghosh said a $10 increase in crude oil prices leads to an increase of 40 bps in CAD, 50 bps in CPI and a 23 bps decline in growth with software exports acting as a counter-cyclical buffer. "The exchange rate pass-through from variance decomposition method shows it is at least 10 per cent for CAD, inflation and growth, but significantly stronger at 35 per cent for software exports. For every rupee depreciation, software exports increase by $250 million," Ghosh added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bears-weigh-on-indian-markets-due-to-negative-global-cues/articleshow/95418328.cms">Bears weigh on Indian markets due to negative global cues</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fusion-micro-finance-ipo-allotment-how-to-check-allotment-status-listing-date-and-more/articleshow/95407416.cms">Fusion Micro Finance IPO allotment – How to check allotment status, listing date and more</a>

For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor

New Delhi, <keyword id="19927244" type="General" weightage="20" keywordseo="fair" source="keywords">Fair</keyword> trade regulator <keyword id="19906939" type="General" weightage="20" keywordseo="cci" source="keywords">CCI</keyword> will shortly initiate a market study on Artificial Intelligence (AI) to gain a thorough understanding of antitrust concerns, the regulator's chief Ravneet <keyword id="19928789" type="General" weightage="20" keywordseo="kaur" source="keywords">Kaur</keyword> said on Tuesday. AI applications are becoming more common across various sectors lately. "We will shortly commence a market study on artificial intelligence to develop a comprehensive understanding of the evolving landscape of AI and AI use cases in markets in India, which could inform the strategies of the commission aimed at fostering innovation and fair competition," Kaur said at the 9th conference on Economics of Competition law here. In January, she announced that the Competition Commission Of India (CCI) would soon float a tender for conducting a study on artificial intelligence on businesses and services. The chairperson further said that regulations on Settlement &amp; Commitment will soon be issued. "Very soon, you will see the other regulations on settlement commitment frameworks on determination of turnover and income and the guidelines for monetary penalty being rolled out," she said. CCI, in August 2023, issued the draft regulations for commitment and settlement provisions under the competition law. The provisions are aimed at ensuring quicker market correction. The Commission has the mandate to curb unfair business practices in the marketplace across sectors and also promote fair competition. The chairperson said that the developments in <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> markets also pointed to the need for strengthening the CCI's institutional capacity. The digital markets and data unit has been set up by the Commission for working as a specialised inter-disciplinary centre of expertise for digital markets within the commission. According to her, the role of economic analysis and evidence and competition law enforcement across jurisdictions has seen steady growth over the years. "Antitrust and other decisions are now based on economic principles that are empirically tested. These help identify theories of harm, address such harms effectively, while allowing pro competitive practices and innovation to flourish. It is only when competition opportunities are preserved and anti-competitive impediments are removed that markets can deliver efficient outcomes to benefit the economy and the consumers," Kaur said. Meanwhile, NITI Aayog member <keyword id="20833977" type="General" weightage="20" keywordseo="arvind-virmani" source="keywords">Arvind Virmani</keyword> said that the digital economy could be a key driver for India's growth. Digital economy can offer high-quality social services as well as upgrade human resources. "AI expert system, digital is something which can transform India. AI allows you to scale up and get the best thing to everybody," he said.

Fair trade regulator CCI to shortly commence market study on AI

After attacking <a href="http://www.businessinsider.in/searchresult.cms?query=raghuram+rajan&amp;sortorder=effectivedate">RBI Governor Raghuram Rajan</a>, who confirmed he will not go for second term, BJP MP <a href="http://www.businessinsider.in/searchresult.cms?query=subramanian+swamy&amp;sortorder=effectivedate">Subramanian Swamy</a> now has a new target. 
 Now, he wants India’s Chief Economic Adviser <keyword id="6355547" type="PERSON" weightage="20" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword>, a PM Narendra Modi-appointee, to be sacked. 
 
Swamy claimed that Subramanian had recommended that the US government act against India through the <a href="http://www.businessinsider.in/searchresult.cms?query=WTO&amp;sortorder=effectivedate">WTO</a> over its pharmaceutical IPR regulations. 
 
In a series of tweets, Swamy alleged that Subramanian encouraged Congress to remain adamant on <a href="http://www.businessinsider.in/searchresult.cms?query=GST&amp;sortorder=effectivedate">GST</a> clauses. Swamy said he was helping Finance Minister Arun Jaitley in identifying his enemies. 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Who said to US Cong on 13/3/13 the US should act against India to defend US Pharmaceuticals interests? Arvind Subramanian MoF !! Sack him!!! — <keyword id="6370187" type="PERSON" weightage="20" keywordseo="Subramanian-Swamy">Subramanian Swamy</keyword> (@Swamy39) <a href="https://twitter.com/Swamy39/status/745429777234825216">June 22, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Guess who encouraged Congi to become rigid on GST clauses ? Jaitely's economic adviser Arvind Subramanian of Washington DC
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745439703013302273">June 22, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		Now PTs can understand why our core economic sectors could not perform last two years. Trojan horses galore in MoF/ Fin Institutions
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745466119461314563">June 22, 2016</a></blockquote>
 
 
<blockquote class="twitter-tweet" data-lang="en">
	
		<a href="https://twitter.com/omsinghis">@omsinghis</a> : I am helping Jaitely to recognise the enemies in our camp.
	— Subramanian Swamy (@Swamy39) <a href="https://twitter.com/Swamy39/status/745478227594883072">June 22, 2016</a></blockquote>
 
Subramanian had made that recommendation to the US Congress in a written testimony, which was submitted in March. 
Also, he had sought changes in Indian patent law. 
 
"If India does not address the problems created by Section 3(d) of the patent legislation or by compulsory licensing for nonworking, the United States should consider initiating WTO disputes against India," read Subramanian's testimony to the US Congress. 
 
Earlier, Swamy had accused Rajan on anti-national intentions. 
 
READ ALSO: <a href="http://www.businessinsider.in/Swamysays-Raghuram-Rajan-is-leaking-secrets-and-defending-US-power-gives-Modi-6reasons-to-sack-him/articleshow/52450672.cms">Swamy says Raghuram Rajan is leaking secrets and defending US’ power, gives Modi 6 reasons to sack him</a> 
 
READ ALSO: <a href="http://www.businessinsider.in/Subramanian-Swamy-is-stepping-up-the-political-ladder-and-how/articleshow/52850894.cms">Subramanian Swamy is stepping up the political ladder and how</a>

Subramanian Swamy now wants India’s chief economic adviser to be sacked

New Delhi, Jan 31 () India's GDP growth is neither overestimated nor underestimated and the concerns on data are "unfounded", the Economic Survey 2019-20 said on Friday as it tried to settle the debate over veracity of the macroeconomic data following change in estimation methodology. Recently, <keyword id="6355547" type="PERSON" weightage="20" keywordseo="arvind-subramanian">Arvind Subramanian</keyword>, the <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> government's former chief economic adviser, had said India's economic growth rate has been overestimated by around 2.5 percentage points between 2011-12 and 2016-17 due to a change in methodology for calculating GDP. India's <keyword id="6354971" type="DEFINITION" weightage="20" keywordseo="gross-domestic-product">gross domestic product</keyword> (GDP) growth rate between this period should be about 4.5 per cent instead of the official estimate of close to 7 per cent, he had said in a research paper published at Harvard University. The Economic Survey tabled in Parliament on Friday said the level and growth of a country's GDP informs several critical policy initiatives as it is a barometer of the economy's size and health.
 "It is also a pre-eminent driver of investment. Therefore, it is important that GDP is measured as accurately as possible," it said.
 The survey notes that the recent debate and discussion among scholars, policymakers and citizens alike about India's GDP growth rates following the revision in GDP estimation methodology in 2011 assumes significance, especially given the recent slowdown.
 Using careful statistical and econometric analysis that "does justice" to the importance of the issue, the Survey in a dedicated chapter said it has found no evidence of mis-estimation of India's GDP growth.
 It said that cross-country comparisons are fraught with risks of incorrect inference due to various confounding factors that stem from such inherent differences.
 As a result, cross-country analysis has to be carefully undertaken so that correlation is distinguished from causality.
 The models that incorrectly overestimate GDP growth by 2.77 per cent for India post-2011 also mis-estimate GDP growth over the same time period for 51 other countries out of 95 nations in the sample, it said.
 However, when the models are estimated correctly by accounting for all unobserved differences among countries as well as the differential trends in GDP growth across countries, growth for most of these 52 countries (including India) is neither over- nor underestimated.
 "In sum, concerns of over-estimation of India's GDP are unfounded," it said.
 It further said the need to invest in ramping up India's statistical infrastructure is undoubted.
 In this context, setting up of a 28-member Standing Committee on <keyword id="1112111" type="COMPANY" weightage="20" keywordseo="economic-statistics">Economic Statistics</keyword> (SCES) headed by India's former chief statistician is important, it said. Nevertheless, carefully constructed evidence in the Survey must be taken on board when assessing the quality of Indian data, said the survey tabled in Parliament by Finance Minister Nirmala Sitharaman a day before she presents the Union Budget. NKD CS ABM

You Searched For "india chief economic adviser arvind subramanian" and got 7 results

India to remain fastest growing major economy in 2024-25, says CEA Nageswaran

ANI

SBI Eco Research forecasts Q3 FY24 GDP growth at 6.8% amid global complexities

ANI

India facing 'Great Slowdown', economy headed to ICU: Modi govt's 1st CEA Subramanian

PTI

For every rupee depreciation, software exports increase by $250 mn: SBI Chief Economic Advisor

IANS

Fair trade regulator CCI to shortly commence market study on AI

PTI

Subramanian Swamy now wants India’s chief economic adviser to be sacked

BI India Bureau

India's GDP growth neither over- nor underestimated, says Eco Survey

PTI

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