Page 19 - Gdp Growth

MSME contribution to India's GDP lags pre-pandemic highs, shows data

The share of MSMEs in the country's total output, in terms of gross value added, touched 31 per cent in 2018-19 before declining during the pandemic

India's GDP growth may slow down to 6.5% in FY25: Axis Bank report

Mishra also said that the Reserve Bank is unlikely to cut its repo rate through the calendar year 2024 due to volatile food inflation

GDP growth reflection of transformative reforms of last 10 years: PM Modi

Prime Minister Narendra Modi on Saturday said India's GDP growth of 7.7 per cent in the first six months of the current fiscal year is a reflection of the country's strengthening economy and the transformative reforms carried out in the last 10 years. Addressing the 'Infinity Forum 2.0' conference at the GIFT City here via video link, Modi said his government wants to turn the Gujarat International Finance Tec (GIFT) City into a global nerve centre of the new age global financial and technology services. "In the first six months of this financial year, India has achieved a GDP growth of 7.7 per cent...Today, the entire world has pinned its hopes on India, and this did not happen just on its own. This is a reflection of India's strengthening economy and also the transformative reforms carried out in the last 10 years," Modi said in his inaugural address. India is one of the fastest growing fintech markets in the world today and the GIFT International Financial Services Centre (IFSC)

Upward revision in RBI's GDP growth forecast very well placed: Ajay Seth

The upward revision in GDP growth forecast by the RBI is "very well placed" with high frequency indicators in October and November showing good momentum, Economic Affairs Secretary Ajay Seth said on Friday. "It is quite obvious that growth that India has achieved in the first half and then in two months (October, November), where the high frequency indicators are showing a good momentum... this upward revision is very well placed," he told reporters. The RBI in its bi-monthly policy review revised upwards growth projection for current fiscal to 7 per cent, from 6.5 per cent earlier. The Indian economy grew 7.8 per cent and 7.6 per cent in the June and September quarters of this financial year, taking the first half growth to 7.7 per cent.

RBI MPC keeps repo rate unchanged at 6.5% for 5th straight policy review

The central bank raised the GDP growth forecast for FY24 to 7% from 6.5%

RBI MPC: Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%

RBI MPC: Reserve Bank's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5% and also keeps the FY24 inflation forecast unchanged at 5.4%

Safety, a cost and an opportunity

If safety standards are raised carefully, not only will the public become safer, but the GDP can also grow a little faster

India is labour-rich country, can get to 8% growth: NITI Aayog VC Bery

India has potential to grow at 8 per cent as the country is labour-rich with enough institutional maturity of a functioning democracy, NITI Aayog vice chairman Suman Bery said on Thursday. Bery also cautioned the reality is that the north of India has not been traditionally doing as well as the south of India and this can create tensions in a federal polity. "So 8 per cent growth or something approximating that means continuous change that needs to be politically managed," he said while addressing the Global Economic Policy Forum 2023, organised by the Confederation of Indian Industry (CII) and the finance ministry. According to Bery, the modernisation journey of India is unusual and unique. "And if I wanted to bet on India for the next 25 years, I would point to first, the fact that we are not labour constrained in a world which is increasingly labour constrained, but much more importantly, that we have the institutional maturity of a functioning democracy with established rules o

India set to become third-largest economy by 2030: S&P Global Ratings

S&P said that India will be the fastest-growing emerging market in the world, but its paramount test will be whether the country can become the next big global manufacturing hub

Day after Q2 GDP data, economists raise India's FY24 growth forecast

However, analysts continue to exercise caution for the second half of the current fiscal year and FY25 as consumption remains a concern

Best of BS Opinion: Handle with care, Ethics off the pitch & more

Here is the best of Business Standard's opinion pieces for today

Handle with care: India's latest GDP numbers flatter but don't deceive

Even if no statistical jugglery is afoot, the "noise" in India's GDP numbers should be eliminated in order to hear the underlying music without distortion, writes T N Ninan

India's GDP expands 7.6% in Q2; manufacturing, construction lead the charge

While the Reserve Bank of India (RBI) had projected GDP growth of 6.5 per cent for the second quarter of FY24, a Reuters poll of economists estimated it to be slightly faster, at 6.8 per cent

Momentum continues

Low nominal growth can pose challenges

Q2 GDP numbers show resilience and strength of Indian economy: PM Modi

Prime Minister Narendra Modi said that the Centre was committed to ensuring fast-paced growth to create more opportunities, rapid eradication of poverty and improving 'Ease Of Living'

India's GDP growth expected to slow to 6.3% in FY24: OECD economic outlook

The GDP growth is expected to further slow to 6.1 per cent in the next financial year (FY25), before rebounding in FY26

Rekindling corporate investment

To achieve the levels seen in 2008, it is essential to increase corporate productivity

S&P Global, Morgan Stanley peg India's GDP growth at 6.4% in 2024

Those at Goldman Sachs, on the other hand, see the Indian economy growing a tad lower at 6.3 per cent in the year ahead.

Urban consumption likely to propel India's GDP growth in July-September

Besides, the index of industrial production (IIP) also grew at a robust pace of 7.34 per cent during the quarter, along with a robust 13.9 per cent growth in electricity demand

Meeting the deficit target

The pressure to rein in capital expenditure and collect more tax revenue may increase