Current Affairs - Economy

The new Indian Institute of Management (IIM) is proposed to be established in Assam's Kamrup district. This initiative aims to boost education and the economy in the region, addressing the need for quality management education and fostering collaborative efforts between educational institutions and the government.

India's GDP grew 8.2% in FY24, surpassing the RBI's estimate of 7%. This growth rate exceeded previous government estimates and was driven by strong performance in manufacturing and mining sectors, as reported by the National Statistical Office (NSO).

Goldman Sachs has raised India’s GDP growth forecast for 2024 to 6.7%, marking an upward revision of 10 basis points. This forecast reflects the anticipated growth trajectory of the Indian economy and indicates optimism regarding its performance in the coming years.

Smartphones have risen to become India's fourth-largest export item, experiencing a significant growth of 42% to reach $15.6 billion in FY24. This reflects the sector's robust performance and its growing contribution to India's export economy.

Delhi leads the Indian cities in the latest Oxford Economics’ Global Cities Index, securing the 350th position globally. While Bengaluru, Mumbai, and Chennai also make appearances in the index, Delhi holds the top position among them, indicating its economic, social, and environmental standings in comparison to other Indian cities.