Investing.com -- India’s economy needs to grow by approximately 8% annually over the next decade amid increasing geopolitical uncertainties, according to the federal finance ministry’s statement to a parliamentary panel. The ministry indicated that domestic demand and investments are expected to drive this growth, as outlined in a report released Tuesday. This growth target aligns with the government’s broader objective of transforming India into a developed economy by 2047, a goal that economists have indicated would require sustained annual growth of 8%-9%. Current government estimates project India’s growth for the financial year ending March 31 at 6.3%-6.8%, which is generally consistent with last year’s 6.5% expansion but significantly below the 9.2% growth achieved in 2023-24. The finance ministry presented these views in its June response to a parliamentary committee, emphasizing that "Ideally, the Indian economy will need to grow by around 8% in real terms every year, at least for a decade." This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

New Delhi, Jan 1 (SocialNews.XYZ) The Finance Ministry's Department of Economic Affairs (DEA), spearheaded successful initiatives to enhance India's economic resilience and global integration in 2024, according to a year-ender review released on Wednesday. Notably, the Union Cabinet approved the new Framework on Currency Swap Arrangements for SAARC Countries (2024-27), fostering financial cooperation and regional integration. This framework introduced an INR Swap Window worth Rs 25,000 crore, supplementing the USD/Euro Swap Window, and aimed to promote the internationalisation of the Indian Rupee.

गत असोज दोस्रो हप्ताको बाढी पहिरोले जनधनमा क्षति पुर्याएपछि मन्त्रिपरिषद्ले अर्थ मन्त्रालयबाट विपद् कोषमा सो रकम जम्मा गर्ने निर्णय गरेको थियो।

New Delhi, Dec 26 (SocialNews.XYZ) As a result of the government's overarching policy to undertake the resolution of stressed accounts, recapitalisation and reforms in banks, the financial health and robustness of India’s banking sector has improved significantly with a sharp decline in NPA (non-performing assets) ratios and record profits during 2024, the Finance Ministry has said in its year-end review.

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New Delhi, Sep 15 (SocialNews.XYZ) The Delhi Police have taken into custody the BMW driver, identified as Gaganpreet, who fatally hit the motorcycle of a senior Finance Ministry official, leaving him dead and his wife critically injured, officials confirmed on Monday. The victim, Navjot Singh, a Deputy Secretary in the Department of Economic Affairs under the Ministry of Finance, lost his life in the incident.

New Delhi, Sep 26 (SocialNews.XYZ) Gross FDI coming into India stood at $25.2 billion in Q1 FY26, compared with $22.8 billion in Q1 FY25, representing a robust double-digit growth of 10.5 per cent over the same quarter of the previous year, and if this trend is maintained in the coming quarters, it would result in annual gross FDI inflows of around $100 billion, according to the Finance Ministry’s monthly review released on Friday.

New Delhi, June 11 (SocialNews.XYZ) The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading". "Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens. The Government remains fully committed to promoting digital payments via UPI," the Finance Ministry stated.

NEW DELHI (Reuters) -India’s economy needs to expand by about 8% annually over the next decade amid rising geopolitical uncertainties, the federal finance ministry told a panel of lawmakers, with the government expecting domestic demand and investments to drive the growth. Government estimates peg India’s growth at 6.3%-6.8% for the financial year through March 31, broadly in line with last year’s 6.5% growth and much below the 9.2% clocked in 2023-24 The ministry’s comments align with the government’s goal of making India a developed economy by 2047, a target that economists have said requires growth of 8%-9% every year. "Ideally, the Indian economy will need to grow by around 8% in real terms every year, at least for a decade," the finance ministry said in its reply to a parliamentary committee in June, according to a report released on Tuesday. To achieve that target, India would also have to lift its investment rate to about 35% of GDP from about 31% currently, the ministry said. Amid an uncertain trade backdrop, including a 50% U.S. tariff on Indian goods, New Delhi is trying to spur domestic demand through planned consumer tax cuts, following personal tax reductions in February, while the central bank has cut rates by 100 basis points this year. The 50% tariff could shave growth by up to 40 basis points in 2025-26. The finance ministry made these comments before the U.S. set a 25% tariff on Indian goods and imposed an additional 25% tariff for buying Russian oil. Trade talks between India and the United States collapsed earlier this month as New Delhi did not agree to give Washington access to its vast agriculture and dairy markets. India is prioritising enhanced opportunities for its labour-intensive exports, including textiles, apparel and leather goods, the finance ministry said. With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record. With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.