Since gaining independence in 1947, India has undergone significant economic transformation. This journey from a primarily agricultural economy to a global player in various sectors has been marked by numerous key events and policy changes. Let’s delve into the statistical milestones that have shaped India’s economic landscape over the decades. 1. The Early Years: 1947-1980 …
The Quick Estimates of the Index of Industrial Production (IIP) are released monthly on the 12th or the preceding workday if the 12th falls on a holiday. These estimates, which are compiled with a six-week lag, are based on data collected from source agencies, who, in turn, receive the data from producing factories and establishments. …
Reserve Bank of India (RBI) Governor Shaktikanta Das has cautioned banks against the risks associated with asset-liability mismatches that could arise from an increased reliance on short-term bulk deposits. He emphasised the need for banks to innovate in attracting deposits, particularly as households increasingly channel their savings into alternative investments. “Alternative investment avenues are becoming …
India is poised for a substantial increase in power generation capacity, with a projected addition of 3,37,900 megawatts (MW) by 2032. Union Minister of State for Power Shripad Naik outlined this ambitious target in a recent Rajya Sabha session. The country has already witnessed impressive growth in power generation over the past decade, with a …
In a groundbreaking achievement, India’s defence exports soared to an unprecedented Rs 21,083 crore (approximately USD 2.63 Billion) in the Financial Year (FY) 2023-24. This remarkable surge marks a substantial 32.5% increase over the previous fiscal year, where the figure stood at Rs 15,920 crore. The recent statistics highlight a staggering 31-fold growth in defence …
The ongoing disparity between deposit and credit growth in the Indian banking sector has persisted even a year after the merger of HDFC and HDFC Bank. Latest data from the Reserve Bank of India (RBI) indicates that while credit expanded by 14% year-on-year to ₹168 lakh crore as of July 12, deposits grew at a …
Electric vehicle (EV) sales in India surged significantly in July, with overall volumes increasing by 55.2% year-on-year to 179,038 units, according to data released by the Federation of Automobile Dealers Association (FADA). The primary driver of this growth was the electric two-wheeler segment, which recorded a staggering 96% increase compared to the same period last …
India is making progress toward energy self-sufficiency, as Minister of Petroleum and Natural Gas Hardeep Puri has noted. The development of the Numaligarh Refinery in Assam is a crucial part of this growth. Currently undergoing a significant expansion, the refinery’s capacity is set to triple from 3 MMTPA to 9 MMTPA by 2024. To support …
On August 03, 2024, India took a significant step towards its journey to become self-reliant for semiconductor requirements with the commencement of construction for Tata’s semiconductor unit in Assam. The event, graced by Assam Chief Minister Himanta Biswa Sarma and Tata Sons Chairman N Chandrasekaran, marks a significant milestone in the government’s ‘Act East’ policy. …
“Worrying doesn’t empty tomorrow of its sorrows, it empties today of its strengths.” – Corrie Ten Boom – timekeeper Don’t worry, stay sharp The Indian stock market has not shown much growth in the past 1 year. While the Nifty 50 has grown by only 2.03%, the S&P BSE Sensex has grown by 2.43%. You …
