Page 939 - Economy & Policy News
India's real GDP growth will exceed 7% growth in FY23: Finance secretary
This would make India the world's fastest growing major economy in FY23
 "India's real GDP growth will exceed 7% growth in FY23: Finance secretary")
India's core sector output growth slows to six-month low of 4.5% in July
The growth in these eight sectors witnessed double digits growth in May and June at 19.3% and 13.2%, respectively
 "India's core sector output growth slows to six-month low of 4.5% in July")
PAC sees no unusual price change, rejects call for ban on turmeric futures
Finds that even though prices vary between different grades, overall price trend remains more or less same, making the availability of reference price crucial
 "PAC sees no unusual price change, rejects call for ban on turmeric futures")
Centre provides 1.5 mn tonnes of chana at discount for states' programmes
Procurement limit for tur, urad and masur raised
 "Centre provides 1.5 mn tonnes of chana at discount for states' programmes")
Four of six major economies miss growth estimates including India: NSO
The results were even lower than the 14.5 per cent estimate given by the RBI's Survey of Professional Forecasters on Macroeconomic Indicators in August.
 "Four of six major economies miss growth estimates including India: NSO")
Unemployment rate drops for fourth straight quarter, lowest in 4 yrs: PLFS
This is the lowest unemployment rate recorded in the last 4 years, from the time NSO launched India's first computer-based survey in April 2017
 "Unemployment rate drops for fourth straight quarter, lowest in 4 yrs: PLFS")
Farm sector clocks 4.5% growth in Q1 on robust rabi harvest, price rise
Growth at current prices which touched a high of 17.4 per cent mainly due to sharp spikes in almost all farm commodities in the first quarter of the 2022-23 financial year.
 "Farm sector clocks 4.5% growth in Q1 on robust rabi harvest, price rise")
Private consumption, capital investment rises in Q1, govt consumption slows
The GDP numbers, Finance Secretary T V Somanathan said this trend was par for the course, as GFCF in Q1 was usually lower than the previous year's Q4.
 "Private consumption, capital investment rises in Q1, govt consumption slows")
FinMin releases Rs 4,189 cr as rural local bodies grant to five states
This grant is released to states for making improvements in two services sanitation and maintenance of Open-Defecation Free status and supply of drinking water, rain water harvesting, water recycling
 "FinMin releases Rs 4,189 cr as rural local bodies grant to five states")
Q1 GDP growth misses estimates despite low base; govt spending subdued
13.5% expansion in June QTR despite low base; GVA at basic prices up 12.7%
 "Q1 GDP growth misses estimates despite low base; govt spending subdued")
Naveen Patnaik urges industry to invest in Odisha ahead of flagship summit
The conclave, which is being organised after a gap of four years, will be held between November 30 and December 4 in its third edition
 "Naveen Patnaik urges industry to invest in Odisha ahead of flagship summit")
FDI equity inflows dip 6% during April-June to $16.59-bn, says DPIIT
FDI equity inflows into India contracted by 6% to $16.59 billion during the April-June quarter this fiscal, according to the data of the DPIIT
 "FDI equity inflows dip 6% during April-June to $16.59-bn, says DPIIT")
Moody's slashes G-20 nations' GDP growth to 2.5% from 3.1% in 2022
Global credit rating agency Moody's Investors Service reduced the 2022 real gross domestic product (GDP) growth forecast for G-20 countries to 2.5 per cent from 3.1 per cent made in May
 "Moody's slashes G-20 nations' GDP growth to 2.5% from 3.1% in 2022")
Unemployment rate dips to 7.6% in April-June 2022, says NSO survey
The unemployment rate for persons aged 15 years and above in urban areas dipped to 7.6 per cent during April-June 2022 from 12.6 per cent a year ago, the National Statistical Office (NSO) said
 "Unemployment rate dips to 7.6% in April-June 2022, says NSO survey")
Economy likely to grow at 7%-7.4% in FY23, says Finance Secretary
Govt on course to meet fiscal deficit target of 6.4% of GDP in current fiscal ending March 31, 2023, says Finance Secretary T V Somanathan
 "Economy likely to grow at 7%-7.4% in FY23, says Finance Secretary")
On course to achieve fiscal deficit target: Finance Secretary Somanathan
The Union Budget has pegged the fiscal deficit at Rs 16.61 trn or 6.4% of the GDP for the financial year ending March 2023
 "On course to achieve fiscal deficit target: Finance Secretary Somanathan")
Core sector output slows down to 4.5% in July against 9.9% a year ago
Crude oil and natural gas production contracted by 3.8% and 0.3%, respectively, during the month under review
 "Core sector output slows down to 4.5% in July against 9.9% a year ago")
India's Q1FY23 GDP grows 13.5%, fastest in a year: Govt data
India's GDP growth in Q1FY22 was 20.1%
 "India's Q1FY23 GDP grows 13.5%, fastest in a year: Govt data")
June quarter's household consumption, capital investment rise, shows data
Government consumption falls in April-June quarter; inflation and supply chain disruption impacts corporate balance sheets
 "June quarter's household consumption, capital investment rise, shows data")
Top headlines: Q1 GDP grows 13.5%; fiscal deficit at 20.5% of FY23 target
India's economy achieved its fastest annual expansion in a year in the April-June quarter, according to NSO data