S&P Global Ratings has kept India’s sovereign rating unchanged at the lowest investment grade of ‘BBB-’ for the 14th year in a row, and said the government’s ability to execute additional economic reforms that spur investment and create jobs will be crucial for recovery from the current economic slowdown. S&P projected a 9.5% GDP growth in the current fiscal year that began in April and a 7.8% expansion in the following year. The GDP which shrank from $2.87 trillion in 2019-20 to $2.66 trillion in the following year is projected to expand to $3.96 trillion in 2024-25. Prime Minister Narendra Modi in 2019 envisioned making India a $5 trillion economy and a global economic powerhouse by 2024-25.
Business & Economics
Recession avoidable with right fiscal policies: IMF
Global recession can be avoided if governments’ fiscal policies were consistent with monetary policy tightening, but likely there would be countries falling into recession next year, the International Monetary Fund’s managing director Kristalina Georgieva said. […]
Indian Americans
Indian-origin soldier Halel Solomon among Israelis killed in Gaza
JERUSALEM (TIP): A 20-year-old Indian-origin Israeli soldier was among the Israeli combatants killed while fighting in Gaza, community members and the Mayor of the town said on Wednesday, November1. Staff-Sgt. Halel Solomon was from the […]
As I See It
As Ukraine war drags on, US arms firms make a killing
The US sold military hardware, services and technical data to its clients worth $153.7 bn in 2022, up from $103.4 bn the year before. “With the deterioration of global security, particularly after the commencement of […]
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