Economy News Today Live Updates on 22 August 2024: Stay informed with the latest happenings and insights about the Indian economy, world economy, global indicators, and government policies. Witness real-time updates as we cover dynamic GDP growth extensively. LiveMint offers comprehensive coverage for those eager to understand the intricate impacts on our daily lives. Catch the latest updates here.
*Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.*
## The Make-or-Break Moment Determining the Economy’s Fate
22 Aug 2024, 06:16:19 PM IST
Fed Chair Jerome Powell has his work cut out for him. He aims to bring inflation down without tipping the economy into a recession. The next few months shall be crucial for this delicate balancing act.
[Read the full story here](https://www.livemint.com/economy/the-make-or-break-moment-that-will-determine-the-economy-s-fate-11724330231122.html)
## AI Mania Will Face its Moment of Reckoning
22 Aug 2024, 07:07:31 PM IST
History often rhymes, and in pondering whether today’s AI boom echoes the dotcom bubble, Author Ruchir Sharma delves into the broader role of AI. This is intrinsically linked to the modern practice of capitalism.
[Read the full story here](https://www.livemint.com/economy/ruchir-sharma-artificial-intelligence-what-went-wrong-with-capitalism-socialism-stock-market-great-depression-buffett-11724328813908.html)
## Economic Momentum Intact Despite Low Consumer Confidence
22 Aug 2024, 06:24:23 PM IST
India’s economic momentum remains robust. The projection of a 6.5-7.0% GDP growth for 2024-25 is deemed appropriate, according to the latest Economic Review. However, low consumer confidence remains a matter of concern.
[Read the full story here](https://www.livemint.com/economy/economic-review-consumer-confidence-household-optimism-manufacturing-services-pmi-tax-trade-deficit-economy-activity-11724326938143.html)
## GDP Growth Expected to Moderate to Six-quarter Low
22 Aug 2024, 01:47:03 PM IST
India’s GDP claimed a 7.8% rise during the March quarter and 8.2% during FY24. Yet, ICRA projects that GDP growth could moderate to a six-quarter low of 6% in the June quarter.
| Period | GDP Growth (%) |
|——–|—————–|
| FY24 | 8.2 |
| March Quarter | 7.8 |
| June Quarter Forecast | 6 |
[Read the full story here](https://www.livemint.com/economy/gdp-gva-industry-services-sector-jobs-growth-rbi-icra-government-expenditure-consumer-confidence-11724311221727.html)
## RBI MPC Minutes Highlight Focus on Disinflation
22 Aug 2024, 05:51:03 PM IST
Growth shoots present an opportunity for policy to pivot towards disinflation. However, food inflation remains stubbornly high. Explore five key highlights from the recent RBI MPC minutes.
[Read the full story here](https://www.livemint.com/economy/rbi-mpc-minutes-growth-shoots-allow-policy-to-focus-on-disinflation-food-inflation-sticky-to-core-5-key-highlights-11724328402711.html)
## India’s Business Growth Slightly Slips in August
22 Aug 2024, 12:45:03 PM IST
India’s business growth moderated in August. Manufacturing activity eased due to a slowdown in new orders, although the services sector remains on the rise. Despite this, India’s private sector output marked its 37th consecutive month of growth.
[Read the full story here](https://www.livemint.com/economy/india-business-activity-manufacturing-services-sector-hsbc-flash-pmi-new-orders-10-trillion-economy-business-outlook-11724308344977.html)
## Indian Tourists are Conquering the World
22 Aug 2024, 07:00:23 AM IST
With a burgeoning middle class, budget flights, and the glamour of Bollywood, Indian tourists are making their mark globally.
[Read the full story here](https://www.livemint.com/economy/indian-tourists-are-conquering-the-world-11724252275518.html)
## Government Considers Ceasing Sovereign Gold Bond Issue
22 Aug 2024, 03:26:59 PM IST
The Indian government may discontinue the sale of Sovereign Gold Bonds, deemed “expensive and complex.” Sources suggest such a measure could simplify the financial landscape.
[Read the full story here](https://www.livemint.com/economy/expensive-and-complex-govt-likely-to-discontinue-sovereign-gold-bond-issue-says-report-11724316734850.html)
## How to Tax Billionaires—And How Not to
22 Aug 2024, 01:07:17 PM IST
Experts suggest that closing tax loopholes might be a more effective strategy than imposing a levy on unrealised capital gains.
[Read the full story here](https://www.livemint.com/economy/unrealised-capital-gains-wealth-tax-income-tax-capital-gains-tax-tax-reform-tax-policy-unrealised-gains-11724311368185.html)
