Latest news with #10thGoverningCouncil
NDTV
27-05-2025
- Business
- NDTV
"Instead Of Celebrating GDP Numbers...": Hotmail's Sabeer Bhatia Pushes For Educating Citizens
India has overtaken Japan to become the world's fourth-largest economy, with a projected GDP of $4.187 billion for the 2025-26 financial year. This milestone has sparked both praise and critique from business and tech leaders. In a series of tweets, Sabeer Bhatia, Hotmail's co-founder, raised questions about the real impact of this growth on the lives of ordinary Indians. He highlighted the need to focus on GDP per capita and ensuring prosperity for all citizens. "Everyone's gloating about India becoming the 4th largest economy. But where's the prosperity on the streets? Why are so many still desperate to leave? GDP rankings mean little if people don't feel the progress. What gives?" he questioned. He emphasised that GDP rankings are insignificant if people don't experience the benefits of progress. Mr Bhatia further suggested that instead of celebrating GDP numbers, India should focus on educating its citizens and becoming the intellectual property (IP) capital of the world. See the tweets here: Everyone's gloating about India becoming the 4th largest economy. But where's the prosperity on the streets?Why are so many still desperate to leave? GDP rankings mean little if people don't feel the progress. What gives? — Sabeer Bhatia (@sabeer) May 25, 2025 India's greatest asset is her people. Instead of celebrating GDP numbers, we should focus on educating our citizens and transforming India into the IP capital of the world. — Sabeer Bhatia (@sabeer) May 26, 2025 Meanwhile, industrialists like Anand Mahindra have hailed the milestone as a testament to India's long-term ambition and entrepreneurial spirit. He said the "milestone" was a dream come true and reminded the country to "stay dissatisfied." GDP, or Gross Domestic Product, represents the total value of goods and services produced within a country over a year, serving as a key indicator of its economic size and strength. Until 2024, India ranked fifth globally. However, according to the International Monetary Fund's (IMF) April World Economic Outlook, India's GDP is projected to reach $4.19 trillion in 2025, narrowly surpassing Japan's estimated figure and propelling India to the fourth spot. BVR Subrahmanyam, CEO of Niti Aayog, confirmed India's rising economic status during a briefing after the think tank's 10th Governing Council meeting. Mr Subrahmanyam also projected that India could become the third-largest economy within the next 2.5 to 3 years. However, this achievement is overshadowed by a significant disparity in per capita income, with India's per capita GDP standing at $2,880 compared to Japan's $33,960.
India.com
26-05-2025
- Business
- India.com
From Pahalgam To Powerhouse, India Rises With New World Order IN Economy
By Ramakant Chaudhary Despite global headwinds — from Donald Trump's aggressive trade war to tense Indo-Pak relations after the Pahalgam terror attack and Operation Sindoor — no external force could derail India's economic ascent. India has now surged past Japan to become the fourth-largest economy in the world. Only the US, China, and Germany stand ahead. The milestone was confirmed by NITI Aayog CEO BVR Subrahmanyam after the 10th Governing Council meeting. He said the current geopolitical and economic climate is 'extremely favourable to India,' with investors worldwide now eyeing the country as a stable and high-potential destination. According to the latest International Monetary Fund data for 2025, India's gross domestic product (GDP) at current prices stands at $4.19 trillion, placing it behind the United States with a GDP of $30.51 trillion, China at $19.23 trillion, and Germany at $4.74 trillion. This leap is no accident. It is built on strong fundamentals, policy reforms, and the government's long-term development agenda. Prime Minister Narendra Modi has led from the front, making infrastructure and economic growth the backbone of his governance. Highways, airports, metro networks, and logistics corridors have seen record expansion. The Gati Shakti platform has fast-tracked project execution by integrating data across ministries. The "Make in India" mission has turned from slogan to substance. India is no longer content being the back office of the world. With the Production-Linked Incentive (PLI) scheme, sectors like electronics, semiconductors, automobiles, and pharmaceuticals are attracting global majors. Apple's decision to manufacture iPhones in India is just the beginning. From Start-up Nation to Rural Push India is now home to over 100 unicorns and is among the top three start-up ecosystems globally. The start-up wave is no longer limited to metro cities. Tier-II and Tier-III towns are buzzing with innovation in fintech, agritech, edtech, and healthtech. Government initiatives like Startup India, Digital India, and UPI have created a robust digital and financial ecosystem. With a young, tech-savvy population and increasing internet penetration, India is on the fast track to becoming a global innovation hub. The government's focus is not just urban-centric. From tap water to every household to rural roads, electrification, and toilets, the transformation of rural India is visible on the ground. Schemes like PM Awas Yojana, PM Gram Sadak Yojana, and Ujjwala Yojana have brought dignity and progress to millions. What further boosts confidence is the Centre's zero-tolerance policy on corruption. Structural reforms like GST, the Insolvency and Bankruptcy Code (IBC), and faceless tax assessments have improved ease of doing business and brought transparency to governance. Investors Turn to India as China Slows China's economic slowdown has triggered a global search for the next big growth engine. India, with its stable leadership, large domestic market, and reform-oriented policies, is emerging as the top alternative. Foreign Direct Investment (FDI) inflows touched over $70 billion in FY24. Sectors like renewable energy, infrastructure, defence, and manufacturing are witnessing strong foreign interest. Even as global markets remain shaky, India's forex reserves are healthy, inflation is under control, and the rupee is showing resilience. The Reserve Bank of India's careful monetary management has helped maintain stability. India's GDP is projected to grow between 6.8–7% in FY25 — the highest among major economies. The World Bank and IMF both view India as a key pillar of global growth over the next decade. Digital public infrastructure is another key strength. India Stack, Aadhaar, DigiLocker, and UPI have revolutionised citizen services. The country is also investing in future-ready sectors like EVs, green hydrogen, semiconductors, and space. The launch of Chandrayaan-3, the growth of India's own 5G ecosystem, and the rise of indigenous defence manufacturing signal the country's rising ambition and capability. Political Stability, Global Credibility Political continuity has helped India pursue long-term economic goals. Under PM Modi's leadership, there has been consistency in economic vision and clarity in execution. Investors value this. Atmanirbhar Bharat is not just a policy push — it's a national movement towards self-reliance. India has already become a net exporter of defence equipment, touching Rs 21,000 crore in exports in FY24. India's growth is not just in numbers. Over 25 crore people have been lifted out of poverty in the last decade, according to NITI Aayog estimates. Women are entering the workforce in larger numbers. Education, health, and nutrition are receiving increased attention. From Vande Bharat trains to the Unified Logistics Interface Platform (ULIP), the government is planning for long-term sustainability and efficiency. From the G20 presidency to global climate leadership, India is now playing a bigger role on the world stage. It is no longer seen as a developing country waiting for aid. It is viewed as a partner shaping global rules and markets. As Prime Minister Narendra Modi rightly said, 'India's time has come. The world's trust in our economy is a reflection of our policies, performance, and potential.' Echoing this view, IMF Managing Director Kristalina Georgieva noted, 'India is not just an emerging market. It is a leading market, shaping the future of the global economy.' The message from both national and international quarters is clear — India is not just growing; it is leading. The fourth-largest economy today, and a global powerhouse tomorrow.
News18
25-05-2025
- Business
- News18
India Becomes 4th Largest Economy: How Far Is The No.1 Spot? A Look At Top Three GDPs
Last Updated: India Economy: According to the April 2025 edition of the IMF's World Economic Outlook, India's economy is expected to grow by 6.2 per cent in 2025 and 6.3 per cent in 2026. India Economy: India has surpassed Japan to become the world's fourth largest economy according to IMF data, as announced by NITI Aayog CEO BVR Subrahmanyam. Following the 10th Governing Council meeting of NITI Aayog, Mr. Subrahmanyam informed reporters that the current geopolitical and economic climate is favorable for India. 'As of now, we are the fourth largest economy and a USD 4 trillion economy," he stated. According to the IMF, India's GDP is currently $4.187 trillion, overtaking Japan's $14.186 trillion. Citing IMF data, Subrahmanyam said India today is larger than Japan. Which Countries Are Ahead Of India Now? India is now behind only three countries in terms of GDP size: USA ($30.51 trillion), China ($19.23 trillion) and Germany ($4.74 trillion). USA's GDP is 7 times of India's as of now. IMF Lowers 2025 Projections According to the April 2025 edition of the IMF's World Economic Outlook, India's economy is expected to grow by 6.2 per cent in 2025 and 6.3 per cent in 2026, maintaining a solid lead over global and regional peers. The April 2025 edition of the WEO shows a downward revision in the 2025 forecast compared to the January 2025 update, reflecting the impact of heightened global trade tensions and growing uncertainty. advetisement India At 144 In GDP Per Capita Despite India's progress in terms of GDP size (nominal), its per capita ranking is abysmal at 144th globally in the world. According to IMF, it is $2,850-2,900, which is far less than some of smaller countries. The top three countries in terms of per capita is Luxembourg ($141,080), Switzerland ($111,716) and Ireland ($107,243). In the group of emerging market and developing economies, China will witness a particularly sharp decline in its GDP growth over 2025–50—a deceleration of 2.7 percentage points relative to the 2016–18 average—reflecting acutely adverse demographics, as well as the approaching end of the era of rapid catch-up to frontier productivity, stated IMF In April 2025 Report. India, with its relatively favorable near-term demographics, is projected to experience a smaller growth decline in 2025–50 (of about 0.7 percentage point), but the decline will intensify over 2050–2100 as the country passes its demographic turning point. Low-income countries are also expected to see a sharper deceleration in growth in the second half of the century, once demographic dividends turn into headwinds First Published: May 25, 2025, 14:05 IST
Time of India
25-05-2025
- Politics
- Time of India
PM Modi leads NDA CMs' conclave, Union ministers join deliberations
PM Modi (File photo) NEW DELHI: A high-level conclave of NDA chief ministers and deputy chief ministers began on Sunday, with Prime Minister Narendra Modi and senior Cabinet colleagues in attendance. Organised by the BJP , the day-long meeting is focused on Operation Sindoor , caste enumeration, good governance, and upcoming national milestones. The meeting is under way at The Ashok Hotel in New Delhi. BJP leader Vinay Sahasrabuddhe, who heads the party's good governance department, said the conclave will adopt resolutions congratulating the armed forces and PM Modi for the success of Operation Sindoor, and praising the Centre's decision to include caste enumeration in the next national census. 'State chief ministers will also present best practices from their governments, showcasing governance models and innovations,' Sahasrabuddhe added. The meeting will also discuss preparations for key upcoming events, including the first anniversary of the Modi 3.0 government, a decade of International Yoga Day, and the 50th anniversary of the Emergency. The conclave comes a day after Bihar CM Nitish Kumar skipped the 10th Governing Council meeting of Niti Aayog in Delhi, despite being a key NDA ally. However, Bihar CM was present in Sunday's NDA conclave led by PM Modi. The Niti Aayog meeting, chaired by the Prime Minister at Bharat Mandapam, focused on the theme 'Viksit Rajya for Viksit Bharat@2047' and brought together Union ministers, chief ministers, and lieutenant governors to outline state-level development goals.
The Hindu
25-05-2025
- Politics
- The Hindu
No goal impossible if Centre, States work together like ‘Team India': PM Modi at NITI Aayog meeting
At 10th Governing Council Meeting of NITI Aayog, Prime Minister Narendra Modi exhorted State governments to come together with the Centre to speed up the country's development. While several States put forth their suggestions on the same, others, including Punjab and Tamil Nadu, also utilised the forum to voice their existing grievances within the federal structure of power sharing. The theme of the 10th Governing Council meeting was 'Viksit Rajya for Viksit Bharat@2047' with Chief Ministers and Lieutenant Governors of most States and Union Territories alongside Union Ministers in attendance. Reiterating the theme, Mr. Modi emphasised, 'If the Centre and all the States come together and work together like Team India, no goal is impossible.' Delving on the aspect of sharing the tax pool, Chief Minister of Tamil Nadu M.K. Stalin asked the Centre to give a 'rightful' 50 percent share to States in central taxes. He noted that the States currently receive just 33.16% from the Central tax pool, against the promised 41%. The Tamil Nadu Chief Minister also called for a dedicated urban transformation mission along the lines of AMRUT 2.0. He argued the same was necessitated because Tamil Nadu is India's most urbanised State. In fact, on the aspect of urbanisation itself, earlier in the meeting Mr. Modi too had adked State governments to carve cities into 'engine of sustainability and growth'. He urged them to focus on Tier 2 and Tier 3 cities. The other major point of discussion was on disputes relating to sharing of water among States. Chief Minister of Punjab Bhagwant Mann cited the then Union Govt's Irrigation Commission report of 1972 that held post-1966 Punjab fell within the Yamuna River Basin. Thus, he argued, that if Haryana exercised claim over the waters of Ravi and Beas, Punjab should also have an equal claim on the water of the Yamuna. Furthermore, a government release informed that Prime Minister Modi also emphasised modernising the approach towards civil preparedness. Stated in the context of 'Operation Sindoor', Mr. Modi held that it must not be treated as a 'one-off initiative' and a 'long-term approach' must be adopted. The Hindu's Profiles The Hindu's Daily News Quiz According to the Centre, since which year has registration of Waqfs been mandatory under the law? 1923 2025 1995 1954 To know the answer and to play the full quiz, click here.
