Page 13 - Gdp Growth

India's GDP growth likely to have moderated in June quarter: Analysts

Slowdown in key drivers due to LS polls and high base effect: Analysts

Likely to lose 1% of GDP growth in FY25, FY26 due to rate-cut delay: Varma

The only available yardstick for evaluating the tightness of monetary policy is the real interest rate. The nominal repo rate is useless for this purpose

Stats ministry to work closely with states on local GDP numbers: Secretary

While states do release district-wise data, it is usually made available with a time lag and not updated frequently across states

India's GDP growth slowed down to six-quarter low of 6% in Q1 FY25: ICRA

The credit rating agency expects India's GDP to grow by 6.8 per cent for the full fiscal year 2024-25, lower than the 8.2 per cent achieved in 2023-24

Govt committed to fairness, simplicity, equity in tax system: Revenue secy

Revenue Secretary Sanjay Malhotra on Saturday said the government remains committed to fairness, simplicity and equity in the tax system. He said the government's ongoing efforts are to simplify tax laws, improve tax compliance, and support economic growth through prudent fiscal policies and the Union budget was in that direction. Union Finance Minister Nirmala Sitharaman had said a comprehensive review would be done on direct taxes over the next six months aiming at making direct taxes simpler to reduce disputes. "Tax growth had reached 14 per cent, outpacing GDP growth due to better compliance and collection efficiency," Malhotra said in a post-budget interactive session with stakeholders. He commended both tax administrators and taxpayers for their efforts and asked for continued cooperation to further enhance tax compliance and administration. Malhotra assured taxpayers that the government aims to simplify and make it easier to understand and make the process as hassle-free as

Ind-Ra ups FY25 GDP growth forecast to 7.5% on expectation of high demand

India Ratings & Research (Ind-Ra) on Wednesday upped India's GDP growth forecast for the current fiscal to 7.5 per cent from 7.1 per cent projected earlier on expectation of improved consumption demand. It said The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from the union government budget. The budget promises to bolster agricultural/rural spending, improve credit delivery to MSMEs and incentivise employment creation in the economy. "Ind-Ra believes these measures would help in broad basing the consumption demand," the rating agency said while revising up its GDP growth estimate for FY25 to 7.5 per cent. Ind-Ra's growth projection is higher than that of RBI which projected FY25 growth at 7.2 per cent and Finance Ministry's Economic Survey which estimated GDP expansion between 6.5-7 per cent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a

India should grow at 7-10% for 20-30 yrs to avoid middle income trap: NITI

PM Modi said emphasis on skill, research, innovation and job based knowledge necessary for making 'Viksit Bharat'

Bill for NFIR likely to be introduced in next session, says DEA Secretary

The Bill for setting up a National Financial Information Registry (NFIR) is in the advanced stage of preparation, and it may be introduced in the next session of Parliament, Economic Affairs Secretary Ajay Seth has said. "It is at an advanced stage. It is in the closing stages of inter-ministerial consultation. We will finalise the Bill soon," he told PTI in a post-budget interview. However, he said, it cannot be introduced in the ongoing session of Parliament but may be in the next session. The objective is to build a public infrastructure for credit-related information, and the right information can be made available by the NFIR to lending agencies. A National Financial Information Registry will serve as the central repository of financial and ancillary information. This will facilitate the efficient flow of credit, promote financial inclusion, and foster financial stability. The passage of the Bill will enable in setting up of a registry and thus help in consolidating all finan

News updates: One dead after flooding in UPSC coaching centre basement, rescue operations underway

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US economy rebounds with 2.8% GDP growth in Q2; price pressures easing

Core PCE price index rises at 2.9% rate

Budget 2024: Building foundation to monetise India's demographic dividend

The Budget also places emphasis on leveraging the power of women in the workforce

GDP growth will be even better: EaseMyTrip co-founder Pitti on Eco Survey

Speaking on the tourism sector, Pitti said that he expects the government to put some more focus on tourism as it provides many employment opportunities

Income tax rate cut, sops for PSUs: Brokerage expectations from budget 2024

Expectations (as measured by pre-budget equity market performance), wrote analysts at Morgan Stanley in a note, are important in determining what the market does immediately after the budget

A call for greater focus on revenue side

Government must strategically expand the fiscal space to face any exogenous shocks

Fiscal headroom should be used to spend on social sector, says Ficci

The economists said the fiscal deficit target for 2024-25 could be slightly lowered, from the 5.1 per cent estimate laid out in the Interim Budget earlier this year

IMF raises India's GDP growth forecast by 20 basis points to 7% for FY25

RBI has projected the Indian economy to grow at 7.2 per cent in FY25

ADB keeps India's GDP growth projection for FY25 unchanged at 7%

Projection must be weighed against 'downside risks from weather events and geopolitical shocks', it says

'Luxury shame' hits China's luxury market as elites dial down on austerity

The elite in the Land of the Dragon are refraining from ostentatious purchases, putting the nation's luxury market under strain

Amid Ukraine war, Russia upgraded to 'high-income' nation; here's why

Thriving in a war economy: Amid heavy sanctions, Russia's economy defied expectations, achieving a high-income status for the first time since 2014, according to the World Bank

India to clock GDP growth of 7% in FY25: NITI Aayog member Arvind Virmani

The Indian economy will grow around 7 per cent in the current fiscal year and is on track to maintain a similar growth rate for several years, NITI Aayog member Arvind Virmani said on Friday. Virmani said there are new challenges facing the country and they will have to be dealt with. "Indian economy will grow at 7 per cent plus minus point 0.5 per cent... I expect that we are on track to grow at 7 per cent for several years from today," he told PTI in an interview. Last month, the Reserve Bank of India (RBI) pegged the FY25 gross domestic product (GDP) growth rate at 7.2 per cent. Responding to a question on the decline in private consumption expenditures in the last fiscal year, Virmani said it is actually recovering now. "The effect of the pandemic was to draw down savings... and very different from previous financial shocks," he said. Explaining further, Virmani said it is like what he calls a double drought situation. "We also had, of course, El Nino last year, but what the