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19-Apr-2024   12:42 Hrs IST IMF praises India for maintaining fiscal discipline in election year <p style="text-align: justify;">Praising India for maintaining fiscal discipline in an election year, Krishna Srinivasan, Director, Asia and Pacific Department, at the International Monetary Fund (IMF) has said that the Indian economy is doing well and continues to be the world's bright spot and also noted easing inflation and growth rate of 6.8 per cent. He also mentioned that inflation should come down to target and it is there on a durable basis.&nbsp;</p><p style="text-align: justify;">Besides, he said ‘India has successfully navigated multiple shocks over the last several years. It's emerging to be one of the fastest major economies in the world. In fact, for this year, for 2024-25, we project growth at 6.8 per cent led by private consumption and public investment. Inflation is coming down gradually. It's now below 5 per cent.'</p><p style="text-align: justify;">While noting that risks to the economy are broadly balanced, Srinivasan said ‘If you look at the macro fundamentals, they're pretty solid, despite this being an election year, the government has adhered to fiscal discipline. You look at the reserve position, it's strong. If you look at overall macro fundamentals, it's pretty good.'</p><div style="text-align: justify;"><br></div>
19-Apr-2024   12:23 Hrs IST Global future will not be driven by big tech firms but by India's digital public infrastructure: Kant <p style="text-align: justify;">India's G-20 sherpa Amitabh Kant has said that the global future will not be driven by big technology firms but by the digital public infrastructure (DPI) platforms developed locally. He said India will transfer its DPI to the rest of the world, and already there are many examples of countries warming up to the same.&nbsp;</p><p style="text-align: justify;">Kant stated that the DPI consists of the digital identity through Aadhaar, real time payment through the UPI platform and other services like account aggregator, and was showcased to the world during India's presidency of G-20 last year. He said during the G-20, the world accepted the definition and framework of the DPI, given the strides that India has made through its strategies.&nbsp;</p><p style="text-align: justify;">He further said India's DPI will transfer to the world, and the same will present a lot of opportunities for the country's entrepreneurs which need to be leveraged on. He also said DPI will become synonymous with the rest of the world. He added that this will be a big part of the India growth story during the period till 2047. He also underscored the need for a fund of funds for deep tech sector in India, which will help venture capital funds take the bets in startups engaged in the sector with a lot of relevance in the future.</p><div style="text-align: justify;"><div><br></div></div>
19-Apr-2024   11:29 Hrs IST India's economy witnesses robust growth over past year despite challenging global scenario: India to World Bank
19-Apr-2024   09:53 Hrs IST Volumes of domestic mining, construction equipment likely to drop in FY25: ICRA
18-Apr-2024   12:38 Hrs IST Govt amends FDI policy in space sector to attract offshore investors
18-Apr-2024   12:07 Hrs IST India's GDP likely to grow at 8-8.3% in FY25: PHDCCI
18-Apr-2024   11:28 Hrs IST India's GDP likely to expand by 6.5% in 2024: UNCTAD
18-Apr-2024   09:52 Hrs IST Road execution in India to grow 5-8% in current fiscal: ICRA
16-Apr-2024   12:44 Hrs IST India's outward FDI surges 49% in March: RBI data
16-Apr-2024   12:03 Hrs IST Engineering exports edge up to $109 billion in FY24: EEPC