Page 13 - Gdp Growth

CAD is manageable as India is doing well in services exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said that India's current account deficit (CAD) is manageable as it is doing well in services exports. He said that the import numbers of the country are correlated with exports as much of the imported goods are shipped back after value addition. "Our services exports are significant. It is an increasingly growing surplus. So if I have a trade deficit of USD 250-300 billion, almost USD 175-200 billion get made up by services exports. So the net CAD is still in the one per cent of GDP category, which I do not think is a matter of serious enough to be concerned about," he said at an event here. The country's CAD widened marginally to USD 9.7 billion or 1.1 per cent of the GDP in April-June 2024 against USD 8.9 billion or 1 per cent in the year-ago period. A current account deficit occurs when the value of goods and services imported and other payments exceed the value of the export of goods and services and other receipts by a ..

Moody's says Indian economy in 'sweet spot,' predicts 2024 growth of 7.2%

India's real GDP expanded 6.7 per cent year-on-year in the June quarter of 2024, driven by a revival in household consumption, robust investment, and strong manufacturing activity

India to release GDP data 90 minutes earlier at 4 pm, to align with markets

The first GDP data release under the new schedule is set for November 29, covering the second quarter of FY25

SBI economists see Q2 GDP growth slowing down to 6.5% this fiscal

Economists at the country's largest lender SBI on Wednesday said they see Q2 real GDP growth slowing down further to 6.5 per cent in the September quarter of this fiscal year. Amid concerns over the country's economic growth rate and if it is slowing down, the analysts said they expect FY25 growth to come "closer to" 7 per cent. It can be noted that the April-June period saw the real GDP expanding by 6.7 per cent, the lowest in 15 quarters. This led to a slew of analysts revising their expectations on growth to below 7 per cent for the fiscal and some also wonder if India is in a cyclical growth slowdown. "There is some incipient pressure evident on the domestic economy. Basis our analysis of 50 meaningful leading indicators (both consumption as also demand centric), a dip looks plausible across select cohorts of agri, industry and services in Q2," the SBI economists said. It said aggregate demand continued to grow albeit with a slower momentum than in the preceding quarters and ..

K'taka dy CM counters PM's criticism, highlights state's 10.2% GDP growth

Karnataka Deputy Chief Minister D K Shivakumar on Saturday took a jibe at Prime Minister Narendra Modi for criticising Congress over poll promises, citing data from the Ministry of Statistics and Programme Implementation. He said that the state's GDP growth for 2023-24 is 10.2 per cent, surpassing the national average of 8.2 per cent. In a post on 'X', Modi on Friday said that in Karnataka, Congress is more focused on intra-party politics and loot than delivering on development, even planning to roll back existing schemes. Sharing Modi's post, Shivakumar responded, citing MoSPI data: "Karnataka's GSDP growth for 2023-24 is 10.2 per cent, surpassing the national average of 8.2 per cent." "These are facts, backed by figures, supported by credible sources. The question is: do these facts even reach the Union government, or do they miss those who formulate tweets for the highest offices at the Centre?" he posted on 'X'. Meanwhile, Information Technology Minister Priyank Kharge also ..

Climate change to put APAC GDP on thin ice with 41% melt by 2100

India alone could face 24.7% loss in GDP by 2070

India to face 24.7% GDP loss by 2070 due to climate change: ADB report

Climate change under a high-end emissions scenario could lead to a 16.9 per cent loss in GDP by 2070 across the Asia and Pacific region, with India projected to suffer a 24.7 per cent GDP loss, according to a new report. Rising sea levels and decreasing labour productivity would drive the most significant losses, with lower-income and fragile economies being hit the hardest, it said. The new research, presented in the inaugural issue of ADB's "Asia-Pacific Climate Report", details a series of damaging impacts threatening the region. It says that if the climate crisis continues to accelerate, up to 300 million people in the region could be at risk from coastal inundation, and trillions of dollars' worth of coastal assets could face annual damage by 2070. Climate change has supercharged the devastation from tropical storms, heat waves, and floods in the region, contributing to unprecedented economic challenges and human suffering, said ADB President Masatsugu Asakawa. Urgent, ...

GDP growth, inflation among key triggers that may drive mkts in Samvat 2081

While GDP growth may have moderated in Q2FY25, inflation might not weigh so heavily on markets in Samvat 2081 say analysts. Here are some key insights on what may drive markets going forward

India's economic growth faces two major risks and two key challenges

Having successfully tackled internal economic instability, it now faces external threats to growth

Decarbonisation of world economy progressing far too slowly: Fitch

They said one of the reasons for emerging markets poor performance was underinvestment in clean energy projects, especially in emerging markets excluding China

India's economy: Glass permanently half full on the road to development

Only three-four countries in the past 100 years have transformed themselves into developed nations - Japan, Taiwan, South Korea; and China in the 1990s

Committed to structural reforms in third term, says PM Narendra Modi

Modi confident India will continue to grow at more than 7%

Demand slowdown pulls down services PMI to 10-month low in September

New business intakes expanded sharply at the end of the second financial quarter, but the pace of growth retreated to a 10-month low

How to make in India for the world and attract large global companies

We should be wary of global consultants pushing grand visions of India becoming a $50 trillion or $100 trillion economy, especially when per capita income is still under $3,000

S&P retains India's FY25 growth forecast at 6.8%, expects rate cut in Oct

S&P expects inflation to average 4.5 per cent in the current financial year

GDP share, per capita income: States showing no signs of convergence

There is a need for targeted and focused intervention to bring the lagging states up to speed as quickly as possible through Finance-Commission devolution or other means

Innovation, competition, ambition: Why Indian firms must invest more in R&D

The success story of a few dozen firms could fire Indian industry to build proprietary technology and deploy it worldwide

Mospi may use GST data to calculate GDP figures after base year revision

So far the Goods and Services Tax Network was reluctant to share such data with MoSPI, citing confidentiality

Regulatory reforms critical for India's push towards Viksit Bharat

While several government initiatives towards policy and legislative reforms are of critical importance, the challenges faced are more internal than external

Confident RBI's growth projection will materialise in coming quarters: Das

The slowing of India's economic growth to a 15-month low of 6.7 per cent in the April-June quarter was due to "lower" government spending in the wake of the enforcement of the model code of conduct for the recent Lok Sabha polls, RBI Governor Shaktikanta Das said here on Saturday. The RBI had projected a growth rate of 7.1 per cent for the April-June quarter of this fiscal. "The Reserve Bank projected a growth rate of 7.1 per cent for the first quarter. However, the first advance estimation data released by the National Statistical Office showed the growth rate at 6.7 per cent," Das told reporters here. The components and main drivers responsible for the GDP growth like consumption, investment, manufacturing, services and construction have registered a growth of more than 7 per cent, he said. Only two aspects have pulled the growth rate slightly down. Those aregovernment (both central and state) expenditure and agriculture, the RBI governor pointed out. He said the government ...