Indian Economy News

October 07, 2024

Banks record a higher deposit growth rate in the second quarter of FY25 than in the first quarter of FY25

Banks saw stronger YoY deposit growth in the second quarter of FY25, with 4 out of 5 banks reporting 2-3% higher growth, driven by higher rates and innovative schemes.

Rs. 1,000 crore (US$ 119.90 million) earmarked for Venture Fund to Space StartUps, says union Minister Jitendra Singh

The Indian government allocates Rs. 1,000 crore (US$ 119.90 million) for space startups, highlighting its commitment to innovation and leadership in space exploration.

Per capita income to increase by US$ 2,000 over 5 years: Union Minister for Finance and Corporate Affairs Ms. Nirmala Sitharaman

Union Minister for Finance and Corporate Affairs Ms. Nirmala Sitharaman forecasts a US$ 2,000 rise in per capita income over the next 5 years, reflecting optimism about India's economic growth.

India grade A warehousing leasing set to cross 45 million sq. ft in 2024: Report

India's Grade A warehousing market is booming, with leasing expected to exceed 45 million sq. ft in 2024, driven by record demand in logistics and industrial sectors.

BofA expects India's forex reserves to reach US$ 745 billion in March 2026

India's foreign exchange reserves are expected to hit US$ 745 billion by March 2026, strengthening the central bank's ability to influence the rupee amid external risks.

India office leasing to hit record in 2024, tech firms lead demand: Report

India's office space leasing is set to hit a record 70 million sq. ft in 2024, surpassing the previous peak of 66.6 million sq. ft in 2019.

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