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Time of India
2 days ago
- Business
- Time of India
Govt taking multi-pronged approach to sustain economic growth amid uncertainties: MoS Finance
The government has been taking a multi-pronged approach to sustain economic growth amid global uncertainties, Minister of State for Finance Pankaj Chaudhary said on Monday. "The estimate of fiscal deficit for the year 2025-26, as presented in the Union Budget 2025-26 , is at 4.4 per cent. There is no requirement felt for revision of fiscal deficit target at this stage, and neither is it considered appropriate," he said in a written reply in the Lok Sabha. The government has been taking various measures to boost economic growth in light of global challenges and uncertainties, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trekking pants for mountain sports and adventure travel Trek Kit India Shop Now Undo India's economic resilience is underpinned by strong macroeconomic fundamentals such as steady growth, price stability, credible fiscal consolidation, resilient external sector performance, robust foreign exchange reserves, a strong and well-capitalised banking sector, and robust physical and digital infrastructure, he said. Additionally, he said, India's well-regulated financial system, credible inflation-targeting regime, and flexible exchange rate contribute to the economy's resilience to shocks. Live Events In response to recent global challenges such as trade tensions, uncertain capital flows, and geopolitical risks, the government has been taking a multi-pronged approach to sustain economic growth, he said. Spelling out some of the steps taken to propel growth, he said liberalisation of FDI, bilateral engagement with countries for the finalisation of various trade agreements, credit guarantee schemes, and increased public expenditures, particularly capex. In the Union Budget 2025-26, an outlay of Rs 1.5 lakh crore has been proposed in this regard. To strengthen power sector resilience, he said the Budget also proposed incentives for electricity distribution reforms and augmentation of intra-state transmission capacity, with an additional borrowing of 0.5 per cent of gross state domestic product (GSDP) allowed for states, contingent on undertaking these reforms. Moreover, the Budget also proposed to launch a comprehensive multi-sectoral 'Rural Prosperity and Resilience' programme in partnership with states, which aims to address under-employment in agriculture, he said. Replying to another question, he said, the per capita net national income (NNI) at constant prices for 2024-25 stands at Rs 1,14,710 as per the provisional estimates of GDP released by National Statistical Office, Ministry of Statistics and Programme Implementation (MoSPI). The per capita NNI at constant prices for 10 years ago -- 2014-15 -- was Rs 72,805, he said. The differences in the increase in per capita income across states may be attributed to a range of factors such as varying levels of economic development, sectoral composition, structural disparities, and differences in governance mechanisms, among others, he said. The government has been committed to the objective of inclusive growth, as reflected in its commitment to Sabka Saath, Sabka Vikas, and has initiated several targeted schemes aimed at reducing poverty and inequality, ensuring social security, promoting income generation and livelihood opportunities, and improving the quality of life of vulnerable sections across the country, he said.
Time of India
5 days ago
- Science
- Time of India
‘NSS helping shape policies for growth'
Lucknow: At least 25 teams comprising 50 students from various colleges and institutes participated in the state-level quiz competition 'Anvesha 2.0', organized by the state capital office of the National Statistical Office (NSO) to mark the 75th anniversary of National Sample Survey (NSS). Dean, faculty of science at LU, Sheela Misra said, "NSS plays a crucial role in capturing the socio-economic realities of our nation, helping shape effective policies for inclusive growth." Deputy director general, NSO, Suchita Gupta said, "NSS continues to provide valuable insights that support a developed and data-driven India." Anshika Shukla and Swati Dwivedi bagged first prize, Gangotri Singh and Pragati won second prize, while Eeshan Soni and Om Mishra won the third prize.
Time Out
08-07-2025
- Business
- Time Out
The solo generation: 1 in 4 Thais now single
What used to be a stage on the road to settling down is now a destination in itself. Being single in Thailand, especially for women, is increasingly the new normal. According to the latest report from Thailand's National Statistical Office, one in four Thais now identifies as single. In Bangkok that number jumps to 50 percent – the highest proportion of singles in the country. Among the total, women make up 75 percent of Thailand's singleton population and there is a clear generational trend with 30 percent of single individuals aged 25 to 34 choosing the single life. The rise of the solo generation is changing the way people live and their spending habits along the way. Single-person households in Thailand now account for B1.4 trillion in annual spending, according to the National Economic and Social Development Council (NESDC). What started as a lifestyle shift has grown into a serious economic force. While family households still lead in spending on necessities like housing and utilities, it is single consumers who are setting the pace in discretionary categories like dining out, boutique fitness, personal wellness, fashion, tech gadgets, solo travel and even premium pet care. The NESDC has called this phenomenon the 'solo economy': a term that captures how consumer habits are shifting in response to smaller households and more self-directed lives. What's behind the rise of solo living? There's no one-size-fits-all answer but social freedom, financial independence and changing cultural values all play key roles. For many millennials and Gen Z-ers, especially women – being single is about prioritising personal growth, career goals and mental health. Marriage and family are no longer seen as life's mandatory milestones. Today's urban young adults are choosing flexibility over formality and self-fulfilment over settling down early. The generation raised on global content, gender equality and post-pandemic introspection is the one building its own narrative rather than chasing tradition. For them, independence doesn't equal loneliness and in Thailand's cities, it's fast becoming our dominant marital status.
Hans India
02-07-2025
- Business
- Hans India
Chief Secy calls for modern statistical system
Bhubaneswar: Odisha Chief Secretary Manoj Ahuja on Monday batted for a modern statistical system to measure the socio-economic progress of the State. Addressing the 19th National Statistics Day here, Ahuja said the system would also help in identifying the areas of shortfall and the way forward. He stressed the need for institutional capacity building, too. Speaking on the occasion, Development Commissioner Anu Garg advised the officials concerned to develop the recommended statistical system, which would help in effective monitoring of the goals and targets set in the 'vision document' for a 'Viksit Odisha - 2036 and 2047'. Citing the example of the 'Subhadra' scheme, she said the State government has been emphasising the use of data and, in the process, it has prepared a robust database that may be used in implementation of other beneficiary-oriented programmes. Ashish Kumar, former Director-General, Ministry of Statistics & Programme Implementation, highlighted the role of the National Statistical Office (NSO) in conducting sample surveys to provide data at regular intervals for the unorganised sectors of the economy.
Asia News Network
02-07-2025
- Business
- Asia News Network
Thailand's singles splurge: How ‘solo economy' drives two-thirds of consumer spending
July 2, 2025 BANGKOK – Thailand's single population has emerged as the dominant force in consumer spending, accounting for more than two-thirds of total market expenditure and driving significant growth in luxury goods, beauty products, and premium lifestyle services, according to new research from The 1 Insight. The comprehensive analysis reveals that Thailand's 'Solo Economy' represents not merely a large market segment, but one experiencing continuous expansion at rates exceeding overall market growth. This demographic shift reflects a fundamental change in social values, with younger generations increasingly choosing independence over traditional family structures. Singles Dominate Urban Landscapes Government statistics from the National Statistical Office's 2023 Socio-Economic Survey indicate that 25% of Thailand's population remains single, with the majority residing in urban areas. Bangkok leads with an extraordinary 50% single population—the highest proportion nationwide. Notably, 75% of Thailand's singles are women, highlighting significant gender patterns in lifestyle choices. The data reveals a clear generational trend: 30% of those aged 25-34 are single, dropping to 25% for the 35-44 age group and 20% for those aged 45-54. This pattern suggests that younger cohorts are increasingly embracing single life as a long-term lifestyle choice rather than a temporary phase. The 'Self-Splurge' Phenomenon What distinguishes single consumers from their married counterparts is their spending motivation. Whilst families allocate over half their expenditure to household necessities and shared costs, singles direct their purchasing power towards personal enhancement and self-reward—a trend researchers have dubbed 'Self Splurge.' This self-focused spending manifests dramatically across multiple categories. Singles spend 30% of their total expenditure on fashion and beauty—four times more than families on beauty products alone. They invest three times more in sporting goods, reflecting heightened health consciousness, and allocate triple the amount to dining out compared to families. Luxury goods consumption among singles doubles that of families, whilst spending on experiences and leisure activities reaches twice the per-capita rate of married consumers. This encompasses collectibles, language courses, recreational workshops including cookery and floristry, design classes, fitness centres, wellness facilities, concert tickets, and travel. Regional Variations in Spending Patterns Urban singles outspend their rural counterparts by approximately 1.2 times, with city dwellers prioritising beauty and premium lifestyle categories. Rural singles, however, demonstrate stronger preferences for home and appliance purchases, including construction materials, furniture, and kitchen equipment—reflecting different living contexts and priorities. Three Dominant Spending Categories The research identifies three standout categories driving the solo economy: Beauty services and products command the highest premium, with singles spending four times more than families. Beyond premium skincare products including serums, moisturisers, and sun protection, singles frequently invest in aesthetic clinics and cosmetic procedures, particularly anti-ageing and brightening treatments. Fashion expenditure reaches three times that of families, encompassing luxury brands across clothing, jewellery, handbags, and timepieces, alongside mass-premium brands emphasising quality and design. This reflects the philosophy that 'appearance maintenance isn't frivolity—it's investment.' Home decoration presents a unique dynamic, with singles spending 4.5 times more than families. This disparity stems from bearing complete responsibility for living space costs without the cost-sharing benefits available to couples. However, it also grants complete autonomy over aesthetic choices, enabling investment in bespoke design elements and high-quality items that authentically reflect personal style. Economic Implications The solo economy represents a paradigm shift in consumer behaviour, with singles demonstrating willingness to pay premium prices for quality of life enhancements. Unlike traditional consumers who might require family validation for major purchases, singles make deliberate, reasoned spending decisions driven by internal motivation for personal fulfilment. This trend presents significant opportunities for businesses that understand and cater to the 'comprehensive self-care' mindset. Companies capable of designing products, services, and experiences that resonate with singles' self-investment philosophy are positioned to capture substantial market share in this rapidly expanding economic segment. The implications extend beyond individual purchasing decisions, suggesting that Thailand's urban economy increasingly depends on consumers who prioritise personal satisfaction over traditional markers of success or social expectations.
