LIST OF ASIAN COUNTRIES BY GDP PER CAPITA

IIT Madras becomes the first IIT to introduce a sports quota for undergraduate admissions. Two supernumerary seats will be created in each course from 2024-25. The quota aims to reward and encourage students who excel in sports. Eligibility requires a position in the JEE (Advanced) rank list and at least one medal in a national or international sports competition. A separate Sports Rank List will be prepared based on performance in specific sports. Different weightage will be given to different games in the quota.

When the Finance Minister presents the budget for FY25, one of the key objectives should be to amplify its limited spending budget. This should be done by increasing its role as an investment facilitator rather than direct investment. India has not benefited much from the growing weariness of investing in China and needs to tackle this issue urgently.

India's retail and consumer sector experienced limited growth in FY24. The overall fast-moving consumer goods (FMCG) sales declined by 4.5% in Q3, affecting both urban and rural markets. Contributing factors to this decline include depressed consumer sentiment, erratic monsoon affecting rural income generation, and elevated unit pricing across essential and discretionary categories.

In 1999-2000, the market cap of Asian Paints was ~$200m, just 2% of the largest consumer company then, Hindustan Unilever. Today Asian Paints’s market cap is $35bn, more than 50% of Unilever’s! Titan was a tiny cap during 2001-4 (the lowest was in 2001, a market cap of $25m, vs $40bn now!) when it entered the jewellery segment and changed the industry.

Union Budget: The Confederation of Indian Industry (CII) has offered policy suggestions to the Narendra Modi government for the upcoming interim Union Budget. The CII suggests balancing fiscal consolidation with economic growth by reducing the fiscal deficit to around 5.4% of the GDP. They propose a three-rate structure for the goods and services tax (GST) and prioritizing investor interest in the government's divestment program.

India aims to become a developed country by 2047, with a GDP of $30 trillion and a per capita income of $18,000. However, even with this growth, India will still lag behind countries like the US, South Korea, and China in terms of per capita GDP. The definition of development should go beyond economic measures, focusing on social progress, environmental sustainability, and good governance. Quality of life, prosperity, lack of poverty, cleanliness, discipline, access to culture, and tolerance are important aspects of development. India should strive to be the happiest country in the world.

The Union Budget will be announced next month. ET Wealth reached out to experts to know what they want on February 1.

GoI's decision making good manufacturing practices mandatory for all pharma units - implemented in a phased manner keeping capacity in mind - is critical. These have a bearing on quality of life and productivity that have a direct impact on economic growth.

“Investment is envisaged to decelerate marginally but remain robust, supported by higher public investment and improved corporate balance sheets, including in the banking sector,” the international institution said in its latest Global Economic Prospects report.

Hamstrung by the COVID-19 pandemic, then the war in Ukraine and ensuing spikes in inflation and interest rates around the world, the first half of the 2020s now looks like it will be the worst half-decade performance in 30 years, it added.

To unravel the complexities of India's gold market, an econometric model takes centre stage. Drawing on three decades of data from 1990 to 2020, this model deciphers the complex relationship between income, gold prices, and government policies. The findings reveal that, on the long-term horizon, rising income plays the most substantial role in driving gold demand.

According to a report released by the state government on Wednesday, Per Capita Income of Telangana at current prices was at Rs 3.12 lakh as against the national average of Rs 1.72 lakh. The state ranked third in 2022-23 according to the Ministry of Statistics and Programme Implementation.

GDP ranking isn’t the benchmark to focus on if the country wants to be a truly developed economy, say experts. Improvements in other economic and social parameters are more important.

India can afford more freebies than the others without creating a crisis. Yet, it is sobering that India's people remain poorer than others in South Asia, even as the country claims to be a rising superpower.

“In India, premiumisation is something that has been happening and is going to continue, sustaining simply because we have that benefit of people being aware of brands a lot more, people having aspirations a lot more and knowing what they want. They are value conscious and that value also has some sort of bragging rights involved in that, which drives our belief.”

“All my life has been about creating organisations which can scale and create behavioural patterns which are socially desirable and do collective good. That is where the stock exchange comes in so that we are able to create trust where a person sitting in Jorhart or Dibrugarh is able to put in her hard-earned Rs 10,000 or Rs 1000 in a company in Salem.”

Chief Minister Siddaramaiah has warned that fake news is causing unrest in society and negatively impacting the country's GDP and per capita income. He has called for strict legal action against those spreading fake news and operating websites that disseminate false and hateful information. Siddaramaiah also emphasized the need for the police to effectively combat cyber crimes and provide safety and security to women, children, and senior citizens.

​There’s a different kind of India growth story we are witnessing — of the country’s sporting prowess. With a record 100-plus medal haul at the Hangzhou Asian Games, ET Sport looks at the correlation between rapid economic growth and greater sporting muscles being flexed in the international arena, the standout athletes who are proof of this pudding, and the growth path leading up to next year’s Paris Olympics. India finally is punching its weight.

Data from India's Income Tax department over the past 10 years has debunked the myths that only a small percentage of Indians pay taxes and the majority of tax filers are in the zero tax bracket. About 37% of India's formal labour force, or 85 million people, pay taxes today, according to SK Ghosh, group chief economic adviser at SBI.

India's per capita income is likely to grow by nearly 70 per cent to USD 4,000 by FY 2030 from USD 2,450 in fiscal 2023, helping it become a middle-income economy with USD 6-trillion GDP, stated a report.indicators

​So in some senses the hath mein smartphone is now accompanied by jeb mein paisa and I think that combination is what has led to a dramatic shift in online transactors.

So there could be still hidden companies here which can give you phenomenal returns. One has to take efforts and identify them. But the only issue is that you need to have extreme comfort on the management. You need to have extreme comfort on the growth path.

The World Bank says: "The country's outlook is subject to major downside risks, which, if they materialise, could result in a macroeconomic crisis. The non-completion of the IMF programme and failure to secure expected rollovers, refinancing, and new financing from key bilateral partners presents major risks."