Page 10 - Gdp Forecast

Seeking 'accuracy': Govt to come up with fresh logistics cost estimate soon

Initial indications suggest a number lower than 14-16%, says senior official

Domestic GDP growth on firm footing, growth slightly revised upwards: SBI

Country's largest commercial lender State Bank of India (SBI) said that domestic GDP growth is now on firm footing with urban demand showing good traction, while the lagging rural demand is a cause of concern. The apex bank has also revised GDP growth marginally upwards from 6.4 per cent to 6.5 per cent for the current financial year. In its 'Ecowrap' research report, SBI said that the GDP growth forecast of the apex bank RBI for the current fiscal has undergone some change since April 2023. While RBI had projected GDP growth at 6.4 per cent in April, this has been slightly revised upwards to 6.5 per cent for the current fiscal, as announced in the latest Monetary Policy Committee (MPC) meeting which concluded on June eight. Inflation for the current financial year has been pegged by 5.1 per cent by the apex bank, perceived to be above the tolerance band of RBI at four per cent. The report said that the series of rate hikes in the recent past had resulted in falling unemployment r

India planning fewer annual GDP estimates to avoid confusing markets

The proposal is being discussed between the ministries of statistics and finance as well as top officials from Prime Minister Narendra Modi's government

OECD marginally raises India's GDP growth forecast to 6% for FY24

OECD said 2022-23 (FY23) ended on a positive note for India with 7.2% growth, due to higher-than-expected agriculture output and strong government spending

'Headline management' with GDP numbers can't hide economic distress: Cong

Hitting out at the government, the Congress said on Tuesday that "no amount of headline management" with GDP growth numbers and GST revenues can hide the economic distress faced by a majority of Indians as it cited a surge in the demand for work under the MGNREGA scheme. Congress general secretary (communications) Jairam Ramesh said the only time the demand for work under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was more was during the once-in-a-century pandemic, reflecting the economic distress in rural India. "The Modi government does a huge song and dance about 'record GST revenues', which is nothing but an expected mathematical reality...but you won't hear the drum-beaters talk about the record numbers of people demanding MGNREGA work in May -- more than 3 crore households," he tweeted. "No amount of headline management with GDP growth numbers and GST revenues can hide the economic distress faced by majority of Indians," he said. He said the rise in

India's FY24 GDP data: Spate of forecast hikes, but not all agree

Some say El Niño conditions may prove to be a headwind for the economy

GDP preview: Why is India likely to retain fastest-growing economy tag

Growth in services and manufacturing and private investment rebound likely to have helped economy in Q4

Advance estimates fail to gauge economy correctly in periods of uncertainty

Advance estimates have varied from actual numbers during 2008 crisis, Eurozone crisis, 'policy paralysis' and Covid lockdown years

Top Headlines: IPEF deal on supply chains in Detroit, GDP preview and more

Business Standard brings you top news at this hour

Per capita GDP for Bangladesh higher than India till 2022, says IMF

Despite having the fastest growth, India experienced a contraction in FY21, and growth is expected to slow down during the current fiscal year

Indian economy demonstrates strength, GDP to grow at 6% in FY23: Acuite

Most lead indicators at the start of 2023 continue to display resilience, with incremental data Feb-23/Mar-23 faring better than Jan-23

World Bank downgrades Ukraine's GDP growth forecast to 0.5% this year

The World Bank has lowered its estimate for Ukraine's GDP growth this year to 0.5 from 3.3 per cent estimated in January, state media reported.

World Bank cuts India's growth forecast to 6.3%; ADB projects 6.4% for FY24

Cite global slowdown spillover, policy tightening impact

India's FY24 GDP growth rate predicted in 6-6.5% range by agencies

Indias economic growth for 2023-24 is estimated to be in the band 6-6.5 per cent by experts in various agencies with difference only in the decimal point.

How will the markets read into the state election outcome in 2023?

While markets eye both economic and political issues, in the medium-to-long term, analysts believe election results do not matter much

India GDP growth slows down to 4.4% in Q3; FY23 estimate retained at 7%

In the first Advance Estimates released in January too, MoSPI had estimated GDP growth in FY23 at 7 per cent

Budget 2023 delivers on all counts; pushes hard on capex, growth

Budget 2023 has more or less maintained the ratio of size of the budget to GDP to around 15 per cent.

Eco Survey is assuring; believes we have completely regained lost ground

The Economic Survey 2023-24 is assuring and it affirms that we have completely regained lost ground, says Madan Sabnavis

Eco Survey paints a bright medium-term outlook after an unpredictable year

It says once the global shocks of the pandemic and 2022's unpleasant spike in commodity prices fade away, the Indian economy is likely to record a faster growth during the rest of this decade

Indian economy expected to grow 7%: How GDP forecasts changed in 3 years

The average variation in value added is 1.5 percentage points between the first and last estimates